![]() Segmenting based on these variables is highly useful for informing online targeting strategies. ![]() Figure 2.2 Types of Segmentation / From University of Minnesota’s Principles of Marketing / Text Description Firms typically segment consumers based on their behaviors (which are also now trackable online!), demographics, lifestyles, or psychographics (see Figure 2.2 for a brief summary or, for a text description of the figure contents, click here). We will see how shortly.įirms develop personas the same way they develop segments: through market research and the use of internal data. Personas can assist in a wide variety of marketing activities, from creating campaigns and ads to guiding product and service development to helping with customer support. The only possible way to do so is to understand who this customer is and what they need. As a reminder from chapter 1, our goal as marketers is to create value, and in digital marketing campaigns, we create value by representing the customer. The needs, desires, and problems of your personas (or segments more generally) should be the starting point of any marketing strategy. ![]() Personas are important because they help you understand who your ideal consumers are, what their characteristics are, and how to talk to them. They help you better understand your customers (and prospective customers) and make it easier for you to tailor content to the specific needs, behaviors, and concerns of different segments. Personas are semi-fictional, generalized representations of a customer segment. To practice targeted marketing, firms use segmentation to create groups of consumers that are homogeneous (i.e., they have similar characteristics to each other) but are heterogeneous from the rest of the population (i.e., they are differentiated by their shared characteristics).Ī useful tool to help create and represent segments is personas. For this reason, we are going to emphasize a targeted approach in this course. Although it is possible to practice mass marketing online, many processes unique to digital marketing, such as web analytics, A/B testing, or the use of online targeting platforms, work best when firms have defined segments. The digital ecosystem makes it quite easy to address segments, even segments of one. In the latter approach, firms practice segmentation and tailor marketing communications and products to segments. There are two broad approaches to conducting marketing: mass marketing (i.e., an undifferentiated approach where products are simply sold to the masses) or targeted marketing ( click here for more information on these approaches). Understand the concepts of personas, journeys, and maps, how to calculate customer lifetime value, and why it is important.
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