Audience segmentation is a crucial aspect of marketing. It enables marketers to better understand the way their audience thinks and behaves, helping to inform all aspects of both marketing and advertising initiatives. It’s an essential component to putting the right message, in front of the right audience, at the right time.
So, what exactly is audience segmentation?
Audience segmentation is the process of dividing your target audience into different subgroups based on various criteria, such as demographics, buying behavior, media use, etc. This valuable information allows marketers to create more personalized marketing campaigns, as they have a better understanding of how, when, and where to engage with customers. Types of segmentation include:
- Demographic: This sorts a market by demographic elements such as age, education, income, family size, race, gender, occupation, nationality, and more
- Firmographic: This takes into consideration things like company size, number of employees, revenue, etc
- Psychographic: This divides markets according to lifestyle, personality traits, values, opinions, and interests of consumers
- Behavioral: This divides markets by behaviors and decision-making patterns such as purchase, consumption, lifestyle, and usage
By segmenting your audiences into smaller groups, marketers are better able to:
- Identify their distinct targets
- Tailor messaging to resonate with those targets
- Meet specific prospect needs that help drive conversions
- Build relationships and foster loyalty by making meaningful connections throughout the buyer’s journey
- Bring in leads to accelerate your sales cycle
Are you interested in learning more about audience segmentation?
Watch our recent webinar, Life Science Marketing Workshop: Creating a Go-To-Market Strategy For Great Science, sponsored by Illumina and hosted by Genomeweb. Will Gould, President and CSO of Brand Buddha, outlined the process of message development, audience segmentation, and how to target the right person, with the right message, in the right place, at the right time.