Posts Tagged ‘Market research’
Conducting Market Segmentation in List Building
To conduct effective marketing, you must know very well who the prospects and customers. Therefore, to segment the market is very important to recognize you. No exception in the online business, it also needs to be done so that you do product marketing could wear right on target.
This market segmentation is usually performed at the beginning, or when market research. But I will explain here, namely the segmentation of prospects and customers.
How does that mean?
Well … When you have been doing marketing and list building, then permanganate customers and prospects. Some will immediately purchase and partly put off purchases. Well, from here in fact you are able to segment them. The simplest way is to group them into two groups: prospects and consumers.
Prospects are those prospective customers. While consumers are those who already make a purchase.
Point in what Mr. Ricardo?
From here, you can specify what percentage of conversions that you produce. How well you are able to transform the prospects into customers. You can also find out why the prospect is still delaying purchases. So you can do other marketing techniques to speed up the purchasing process those who have not turned into consumers.
Clearly, right?
How to perform segmentation can be done not only further divide it into only two groups (prospects or customers), but can be further subdivided, for example by:
area
preferences, hobbies, interests
age and sex
consumers of certain products
Yes, that you better know who your prospects and customers. So you can do the best marketing approach for each group, so the expected response was also good.
For example, you have a list building prospects of Jakarta, and you intend to give a special voucher to purchase your product. By having these segments, you just send an email marketing only to those who are in the list, and not for others. Got it?
If you are still confused the meaning of segmentation, the word theory, segmentation is the process of classifying people into a group based on the same criteria.
Way to segment how sir?
Of course you must have a database of customers and prospects. Then you’ve grouped based on criteria you specify. If you run an offline business and has not had a computerized system to do it, what may make it must be done manually. If that was common in online business is to perform segmentation on an auto responder.