Market Segmentation

Everyday, millions of consumers visit websites and don't convert or purchase. You may know what your abandonment rate is, but do you know WHY visitors abandon your site, or better yet, do you know WHO is abandoning your site?

Market segmentation is not a new concept. Most successful marketers know who their most popular segments are – female, male, Gen X, Gen Y, gamers, homemakers, hunters….you get the idea. But within those broad categories exist numerous additional segmentation elements. Let's say your product sells best among adult males who enjoy football. You might think you've got a pretty solid market segmentation, right? Wrong. You are missing opportunities within that broad segment to really hit home with your messaging.

Current segmentation model

Males, ages 24-55
Sports enthusiasts

Improved segmentation model

Males, ages 24-55
Sports enthusiasts
Predominance of soccer and football
High discretionary income indicator
Inclination to shop/purchase online
Segment by primary language

In addition to the elements on the "improved" model, how important is it to your customers that you reach them in their language of choice? A Spanish-only speaking prospect may abandon simply because your message is in English. And wouldn't it be useful to know whether a prospect has no discretionary income or a lot of it? Imagine how much time and money you spend marketing to people who would buy your product, but simply can't?

You only get ONE chance to make a good first impression. By knowing more about your prospects as they engage with your website, you can tailor your messaging in real time to convert more visitors.

Learn how Kristalytics can advance your marketing segmentation and strategy. Get ahead of your competition today. Call for a free consultation (512) 567-4656, or email us at info@kristalytics.com.