4 Micro-Segmentation Tips to Promote Sales Growth
Increasing transparency of business practices with the ever-rising complexity of fierce global internet competition has made it challenging for B2B corporations to market themselves. As the digital marketing landscape continues to grow with small and large businesses, it’s becoming more difficult to retain a particular loyal audience. Many B2B companies looking to preserve a specific audience have failed as they view their audience as a whole, rather than working to reach and attract individual targets based on defining characteristics. Your most profitable customers are long-term customers and without them sales sink, preventing your company from further success. However, tailoring sales and marketing tools that focus on attracting particular markets through micro-segmentation, allow companies to seize on lucrative and appealing opportunities and deliver them to their desired audience. Keeping loyal customers should be at the top of every business owner’s marketing game plan. The goal of segmenting customers is to determine how to relate to individuals in each segment in order to maximize on the value every customer holds to the business.
In order for today’s customers to be loyal to a company, they must make a personal connection with that designated business. People look for services that are based around customization, meeting their needs and desires for feeling like a consumer of value. Adopting marketing and sales strategies that reflect a more personalized approach to servicing their customers helps build strong synergies with potential customers through nurturing leads. According to Forrester Research, companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. These are significant percentages that will lead to an increase in a company’s ROI and yearly revenue. To successfully execute this method of marketing, you will need to segment your audience into specific targeting groups. This will allow you to fully understand what and how each individual market is driven, making the process of reaching and retaining specific audiences more effective.
- Get to know your targeted segment: When crafting a business plan or freshening it up, it’s critical to understand what your audience desires, even before they do. This can only help lead your company into becoming a more reliable source for the end user. Defining your segment by characteristics such as demographic, geographic and/or psychographic, micro-targets your audience and allows you to meet their specific needs. This connection will make a long-lasting impression, giving your audience the personalization they are looking for in a company relationship.
- Identify and determine segment variations: It is vital to continually measure the growth of every micro-market. For example, determining which markets are doing well and which have lost leads will provide you valuable insight of your segments status in the market. What may attract one audience does not necessarily mean it’ll attract another. Monitoring market data and identifying causes, whether they are positive or negative, gives you a better understanding on what appeals and retains to that segment, helping you find an effective solution to any mishaps.
- Stay on top of your segment: Remember, the ultimate goal of micro-segmentation is to nurture your targeted audience into becoming loyal customers. Attracting a potential audience begins the minute browsers start interacting with your brand. You want to stay on top of these browsers and keep them coming back for more with strategic and tactical marketing and sales messaging. Using customer feedback, upcoming trends and industry knowledge to get ahead in reaching and communicating with your market will keep your company top of mind to the consumer.
- Look to an expert: Sometimes the best and fastest solution in attracting the correct audience is seeking outside assistance, such as a loyalty-marketing provider. Loyalty and incentive companies, like Rymax Marketing Services specialize in optimizing micro-segmented tools to target your desired audience. Rymax has mastered the art of nurturing client’s leads and transforming them into dependable sources and substantial results.
Utilizing micro-segmentation helps convert your company’s leads into loyal customers. It is vital to view and divide your audience into specific micro-markets so that you can target specific services to meet their exact needs. When consumers feel appreciated and valued by a company, it can set your brand above the rest, increasing customer retention, loyalty and revenue. For more information on how micro-segmentation can be applied to your company’s relevancy, ROI and sales leads, contact Rymax today!