Knowing your consumers and targeting them in the right way is high on the priority list of marketers in any business. But what’s the first step? Companies and brands undertake customer segmentation to divide their customer base into targetable subgroups that become the cornerstone of their growth strategies. Getting it right can mean boosted profitability and a competitive edge in the market.     Paul Carney is the Managing Director of STRAT7 Bonamy Finch, a global marketing and customer analytics consultancy. He has 25 years of experience with segmenting audiences. In the last fifteen years at STRAT7 and Bonamy Finch, Paul has helped run 1,500 segments in different categories, multiple countries, and several markets.    As a new year draws nearer, with markets fully reopening after an uncertain 18 months, more and more marketers are opting to conduct segmentation of their consumers.     “People have started to understand that they can get ahead of the curve now by creating a segmentation to adapt to what the new normal might look like. We are seeing an appetite for segmentations higher than we’ve ever seen,” Paul said.      Paul joined the What’s Possible Community sessions to outline ten tips for growth-minded marketers who want to create an impactful segmentation that sticks.

Tip 1: Start with the end-user in mind

Before starting your segmentation, make it clear where the business is coming from, what the company culture is like, where the siloes are internally, and if any prior segmentations were done. Aptly communicate and operationalise the segment data for the end-user and ensure it’s straightforward and easy to use.    “We really want to communicate that the segmentation is an ongoing journey. It’s a very dynamic programme of research,” Paul said.

Tip 2: Link to your data assets read more