Are you need IT Support Engineer? Free Consultant

, ,

Is your Market Segmentation Studies Giving the Right Results??

  • By admin
  • December 9, 2012
  • 40 Views

Who does not know about the immense acceptance of market segmentation studies among the research communities? But even then it becomes a challenge for some organizations to implement the same in decision making processes. Let us find out its bottleneck areas:

  • The Complex Structure: The basic nature of market segmentation studies is that it is an amalgamation of detailed information that covers almost every segment of a market. This makes the structure a bit complicated.
  • Difficulty in Interpretation: Since market segment studies integrate plethora of information from every sector, the reports submitted by researches after studying these data become bulky. The experts in the marketing and product development teams find it laborious to interpret and accumulate the necessary details from these bulks.

But good news is that there are ways that the internal clients can adopt with the assistance of the research team in order to make the process convenient and extract only the useful and workable information. Follow them:

  1. 1.       Making Information Easy to Understand

You might have usually come across a PowerPoint show of a company that exhibits each of its segments in greater details and answers specific questions related to each segment. But to be honest, it is not the most recommended procedure to the strategic sketch of a market to the business owners. Rather, suggestions are that a dashboard works better as it covers a general overview of the segments and a couple of additional slides to give concise idea of key features of each segment.

  1. 2.       Classify Customers

Developing suitable metrics that segregate your customers and help the marketing team cater to them accordingly becomes vital as planning the manner of communication, setting up a case sensitive call center service and thus catering to the customers become easier.

  1. 3.       Find Out the Prospectus Clients

During the process of customer segregation, the algorithms should be so developed that it is also capable of enlisting a group of prospectus clients. The marketers and sales team will be at better position to provide tailor-made services and set up customized call centers in order to spur buying activities and higher purchase rates.

  1. 4.       Segment Out Online Traffic

The next important activity of the advanced metrics is to develop questionnaire that help in classifying online visitors in real time during the process of carrying out the online sales processes. This will act as an advantage in designing communicative marketing strategies and give out service offerings that will be perfect for online clients. The entire task will lead to increase in sales drive.

  1. 5.       Conceptualizing Persona

Persona is something that is much different from statistics and algorithms. It is actually the act of conceptualizing the buyer profile and assuming their tastes. Hence, products and services can be designed according to that so that it increases the chances of gaining customer attention and boosted drive towards sales activities. Although developing persona does not follow much technicality and direction, including the expert schemes of segmentation will always be a cream on the cake!

We hope that these important tips help out in knowing the exact consumer behavior. If you have any question, feel free to write to us at contact@marketquotient.com