“We know how to turn insights into a customer-led strategy. It starts with segmentation” – Kristy Ihle, THINK MD
Considering the cluttered market that we live in nowadays (brands, products, media channels), understanding your customers from head to toe is the differentiating factor. Market segmentation is the most successful research tool to make it happen.
So, what is the value of Market Segmentation?
Before going into detail, let us give you an overview. Market segmentation is defined as the way to divide your customer base into groups of individuals who have commonalities. These common factors may be demographics, psychographics, behavioural or a mix.
Our Segmenta Framework adopts a customer-centric approach to identify unique and valuable segments of opportunity, covering transactional, rational and emotional data. This allows you, as a brand, to tailor your products and services to your customers and harness the best communication style and channel.
Now, you’ll be thinking “Where should I start the process?” Don’t worry! We have everything covered and here are the key steps involved in our approach:
- Setting the landscape
- Understanding the customer
- Mapping the customer journey
- Business opportunities
- Co-creating brand proposition
- Targeted messaging
But this is not where we leave it. Here at THINK, we go that extra step further to close the loop: Implementation. Having identified your actionable segments, we’ll show you how to incorporate them into your CRM for ongoing internal researches, utilising the key variables to classify any customer.
Finally, ensuring your business will have all the answers to improve ROI, we develop an actionable Go-to-Market Strategy to ensure a greater impact on your target customer. This strategy includes a personalised action plan for each business unit, from the communication channel, to tone and message used to drive a cost-effective outcome.
Segmentation is our bread and butter and we are proud to be research specialists. We have worked with a range of industries across Australia including Politix, Bolton Clarke, CBUS and different airports in Australia. Check out our Case Studies page to learn more about these projects and our Blog page to know more about implementation and Go-to-market strategies.
Tatiana Davila – Research Associate