Every marketing strategy is a road map that will lead you to the hidden treasure to achieve your company’s marketing objectives, whether to increase sales, brand recognition, or build customer loyalty.
Among the numerous market strategies available, the segmentation strategy divides the market into homogeneous sections and helps you create a differentiated type of campaign for each sector, or focus on just one or a few, depending on what you have determined to be your company’s future.
If you have decided to cater to only one segment of the market, this strategy will allow you to identify the public segment to which you will direct your product or service promotion.
The segmentation strategy, in turn, has subdivisions; let’s look at each of them so you can decide which is best for you.
To implement this strategy, we must first understand what a Buyer Persona is.
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Buyer Persona
A buyer persona is an ideal customer profile created from real data collected from real customers. This persona contains all of the target audience’s descriptors, allowing us to know who the target audience is, what they like, where they work, and what they do.
We will be able to optimize our marketing strategy with this information, making it more precise and aligned with that ideal customer profile.
After we’ve defined a Buyer Persona, let’s move on to our definition of a focused segmentation strategy.
This entails segmenting the market based on one of the various criteria listed below and concentrating all efforts on that market segment. To do so, the company must first determine who its Buyer Persona is, its characteristics, and needs to offer services or products that meet those needs.
When we do this segmentation is similar to when a strategist of a sport such as Soccer knows where to place each of his men, even if he knows that players play better when they are together at the same time.
You should place in an advertisement the elements that will ensure that they will work best together to reach your Buyer Persona.
The 4 market segmentation criteria to follow
Market segmentation can have different strategies, depending on the author of the theory the influencer marketing agency is working with, here we are going to mention what we consider to be the most effective criteria and what we have proven in successful campaigns.
Demographic characteristics:
Demographics is the study of the population at a specific time or over time. The broadest criterion for segmentation is demographic characteristics, such as “married people with two or more children,” “single people living alone,” and “retired adults,” among others. We can continue to add as many characteristics as we deem necessary and convenient, such as level of education, religious beliefs, purchasing power, and so on. We must keep in mind that the goal is to investigate how these characteristics interact with one another and with the Buyer Persona profile we have.
Geographic characteristics:
This characteristic considers the country, region, or city where our Buyer Persona lives or is located. This can be useful if our product or service is only available in certain countries, or if our business has a physical address that people must visit, such as a supermarket or hardware store, but it can also be useful if we offer a service in specific areas. We must also consider the impact of language and the geographical characteristics of the area. Selling a product or service to people who live in nature is not the same as selling to people who live in cities; the problems, and thus the priorities, are different.
Psychographic characteristics:
These deal with values, beliefs, personality, opinions, and lifestyle. It is a more complex segmentation, but it is possibly the most accurate in establishing our Buyer Persona from the most personal perspective. It is also usually costly and time-consuming to establish because one of the steps is to conduct a public survey or interview. Because you cannot directly ask a person what their values are, but you can place several values and ask him or her to rank them in order of importance, the questions in this type of survey or interview must be very well thought out. That way, we’ll get the information in an indirect but secure manner.
Behavioral characteristics:
We use criteria based on people’s behavior, buying habits, the pages they visit, the social networks they use, the type of product they buy, and so on for this segmentation. This is used to determine how they make purchases.
This information is typically available in tools for managing data related to Internet user behavior. Influencer marketing agencies use this type of tool to develop more effective and targeted strategies for the specific buyer persona. As a result, the advertising investment becomes more effective.
Once we’ve determined all of these characteristics, we’ll be able to decide where to direct our marketing efforts. We will select from a large number of people to whom we will offer our goods and services to reach the people we want to reach exactly when we want to reach them.
