The Weekly Buzz: Divide and Conquer
The ancient saying “Divide and conquer” is a powerful reminder that organizations are stronger when they overcome internal differences. In sales and marketing, though, sometimes everybody wins when you highlight differences instead.
Segmentation: The Art of Getting Granular
Good luck selling to retirees and Gen Zers with the same channels, or marketing the same thing as “barbeque” in Texas that you do in North Carolina. Grouping your customers helps your organization consider their different perspectives and the different journeys that might bring people to your product. With the artificial intelligence-assisted, sophisticated big data analytics available today, you can group customers with even more accuracy and pinpoint the marketing strategies that will have greatest success.
Let the Customer Be Right
Responsive marketing isn’t all. Companies are also acknowledging the differences among customer segments with customer-centric marketing strategy and even product design. Traditionally this has meant customization: offering a range of specialized product versions that are most proven to appeal to various segments (for instance, selling hats with the insignia of the three baseball teams that are most popular in the area). Today personalization is a very real option, moving a step beyond customization to capture the long tail. Now your customers could choose to create their own hat: maybe one person would like a purple camouflage pattern trucker hat with the Washington Nationals insignia. The design team would never have come up with that, but if the customer wants it and you can source it, co-created items will basically market themselves.
The benefits of dividing your customer base into smaller segments aren’t reserved to B2C organizations. The B2B equivalent of personalization is account-based marketing (ABM) to tailor sales and marketing efforts to individual corporate clients. In particular, they focus on building existing relationships and acknowledging the many different perspectives of participants in decision-making at an enterprise client. Another key element of a laser focus on individual businesses: the ability to reach prospects early, with content specifically targeted to their needs.