Market segmentation isn’t an exact science. Most B2B marketers can only narrow their segments to a certain point, such as “young executives” or “digital natives”. Yet, within these overly broad definitions lies numerous subsets: digital natives who adore the opera versus those that are avid sports fans and young executives who spend their weekends gaming versus those who are raising families.
The Ability to Move Beyond Shallow Customer Segments
How you market to these various subsets means the difference in success or failure. Using sports metaphors with the opera crowd makes you come across as low-brow and out of touch. Offering free opera tickets with your annual subscriptions to the sports folks makes you seem snotty and irrelevant. Before big data, marketing was primarily a one-way communication. There was no way to get instantaneous feedback to fine-tune market segments and engage them in two-way communications.
The Ability to Identify & Connect With Highly Specialized Niche Segments
Most marketers respond by targeting multiple market segments, or perhaps by trying to appeal to overly broad marketing segments. The first mistake leads to a delusion of your brand — you aren’t readily associated with anything. The second mistake means nobody even knows who you are. What are your options? Well, big data, of course. Big data marketing can eliminate these segmentation problems and allow you to market on a granular level with personalized, customized messages your B2B customers can relate to and identify with.
The Ability to Track Your Customer Segments as They Evolve Over Time
Another thing that marketers sometimes fail to realize is that the “young executives” of today become the “seasoned professionals” of tomorrow. Likewise, their interests change, therefore, the marketing messages and techniques you use to stay connected and relevant with this crowd changes over time. You can do this without losing your brand identity because the big data tells you what articles they’re reading online, what they’re liking and sharing on social media, and their purchase history. Running the data isn’t a one-and-done; it’s something you’ll need to keep doing to keep up with your evolving customer base.
The Ability to Derive Intent From Behavior
Is liking and sharing your Facebook posts or retweeting your Twitter posts indicative of purchase behaviors? Do the same people who tend to read your articles all the way through to the end also buy your products on a regular basis? You can use the data to determine what actions and patterns are most closely associated with buying behavior and how. Then you can use this information to target more customers like them. Now you can spend less to market to fewer people, while enjoying a higher conversion rate than ever before. Additionally, this same information can help you up-sell and improve the lifetime customer value you achieve.
Big data is a powerful tool that will forever change how marketers approach market segmentation. ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, Get a free data assessment today.