Market Segmentation Data – The Types and Benefits

Market Segmentation

What is Market Segmentation

It is the practice of dividing your target market into approachable groups. Market segmentation creates subsets of a market.

Demographic

Psychographic

Behavioral

Geographic

Market Segmentation and SEO Benefits

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What is B2B and B2C segmentation

B2B -business-to-business marketing focuses on logical process-driven purchasing decisions, while B2C - business-to-consumer marketing focuses on emotion-driven purchasing decisions.
An example of B2B would be a SaaS Company that sells its products to other companies. Business-to-consumer (B2C) is the term used to describe a business relationship between one company and at least one individual consumer. An example of B2C would be a Amazon that sells products to individual consumers

B2B vs B2C

B2B and B2C marketing differ primarily in terms of their audiences and how they communicate to them
B2BB2C
Lower volume, higher priceHigher Volume, lower price
Education, efficiencyEntertainment, Conveniences
Interpersonal RelationshipsTransactional Relationships
Logic and FeaturesDesires and Benefits
Long Term GoalsShort term goals
Log Sales CycleShort sales Cycles

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Types of Market Segmentation

Demographic segmentation refers to the splitting up audiences based on observable, people  based differences. These qualities include things like age, sex, marital status, family size, occupation, education level, income, race, nationality and religion.
Behavioral segmentation refers to a process in marketing which divides customers into segments depending on their behavior patterns when interacting with a particular business or website.

Types of Behaviors:

1.	Online shopping habits.
2.	Actions taken on a website.
3.	Benefits sought.
4.	Usage rate.
5.	Loyalty.
Psychographic segmentation is the research methodology used for studying consumers and dividing them into groups using psychological characteristics including personality, lifestyle, social status, activities, interests, opinions, and attitudes.
Geographic segmentation involves segmenting your audience based on the region they live or work in. This can be done in any number of ways: grouping customers by the country they live in, or smaller geographical divisions, from region to city, and right down to postal code.

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What is a KPI

Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.

Examples of KPIs

  • Revenue growth.
  • Revenue per client.
  • Profit margin.
  • Client retention rate.
  • Customer satisfaction.

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Market Segmentation Best Practices

Steps in Market Segmentation

  • Identify the target market.
  • Identify expectations of Target Audience.
  • Create Subgroups.
  • Review the needs of the target audience.
  • Name your market Segment.
  • Marketing Strategies.
  • Review the behavior.
  • Size of the Target Market.
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