Are You Seg-meant To Be?

 There are nearly 7.8 billion people in the world. That’s right 7.8 billion people! Obviously, you aren’t going to market to everyone, but even if you are going for 1/12000th of these 7.8 billion people, it can be confusing determining who you are really going for. The world is your oyster but what if some of your consumers see it more as a conch shell and others more of a clam? This is where segmentation comes in to play. Market segmentation consists of separating your audience into groups that share a homogenous characteristic. These segments can later be used to better target in marketing strategies and advertising.

Four Marketing Segments   

To give a quick overview of segmentation, there are typically four categories that are used when dividing your consumers into segments: geographic, demographic, psychographic, and behavioral.

Geographic

Location, location, location! As the name suggests, this segment is based on a predetermined geographic border. However, it is important to recognize that although your consumers are in the border, they still will have different interest, values, etc.

Demographic

Let’s go back to basics! Demographic segmentation separates people based on basic variables such as age, gender, income, education, etc.

Psychographic

If you can dream it, you can become it/do it! Psychographic segmentation is all about your consumers current beliefs and who they hope to become. This can range from attitudes, beliefs, interests, etc.

Behavioral

How much of a user are you? This is centralized all around how consumer act or react during the purchasing process. Hopefully, you have consumers that already have past experiences that can be capitalized on.

Now Let’s Play a Game…..

Now that we’ve covered the basics of segmentation, it’s time to play… “Are you seg-meant to be?” When should your company segment? Let’s find out with the criteria below! 

• Identifiable- Is your segment easy to identify?

• Substantial- Is there a large enough group to create a segment from?

• Reachable- Are you able to reach this segment, is it possible?

• Responsive- Will you be able to drive their behavior?

• Profitable- Can you actually make money off the segment?

If you answered yes to any of these questions, then… CONGRATULATIONS!! You are seg-meant to be, meaning you should be using marketing segmentation. A good rule to follow is, if it makes sense to and is profitable, you should implement segmentation.

The Marketing Lab is able to help you find the best possible way to segment through our innovative marketing research and solutions. We want to thank you for playing today and remember there are segments out there that are meant for you, we want to help you find them!