Breaking down your target market
Understanding your target market is an imperative component of the marketing industry. A target market broadly represents a “typical” group of consumers. While this information is very useful in the beginning of the marketing process, it does not give a complete image of all of the different kinds of people that you want to target. That’s where behavioral segmentation comes in.
One way to further categorize your target market is to break them up into distinct subcategories based on more specific similarities, known as segments. One of the many kinds of segmentation is known as behavioral segmentation, which divides consumers into groups according to their usage, loyalties or buying response to a product. Put simply, behavioral segmentation looks at what a consumer does.
Benefits of segmentation
Segmenting your target audience into distinct groups allows you to send tailored messages to different kinds of customers and prospective customers that are more likely to produce responses. This can help you deliver more unique content that better represents and resonates with the specific segment of the market that you want to target. Segmenting your target market allows you to make your marketing more personal.
What makes behavioral segmentation different?
So what makes behavioral segmentation different from all of the other kinds of segmentation? As opposed to demographic segmentation and psychographic segmentation, behavioral segmentation focuses less on who the consumer is and more about the consumer’s distinct actions in regards to the product or service.
Oftentimes, different kinds of segmentation are used in conjunction with one another in order to further enhance the success of a campaign. Bridge utilized this technique during a Memorial Day Campaign for Furniture Stores. Bridge broke up their target market by age, gender, household income, location, and behavior. In this case, the behavioral segmentation utilized was “propensity for retail purchase”. By adding “propensity for retail purchase” as a segmentation category, Bridge was able to target a more specific market that resulted in over 200% return on marketing spending.
Segmenting smarter with behavioral segmentation
Collecting behavioral segmentation information involves actively listening to your target audience to develop a deeper understanding of their behavior. According to a 2014 Adobe & Razorfish study, only 24% of marketers. By positioning yourself as one of the few who understand the importance of behavioral segmentation, you can take your marketing efforts to the next level and provide your prospects with more relevant information.
How behavioral segmentation can help with email marketing
Segmentation is crucial for email marketing campaigns. Behavioral segmentation, in particular, has created an entirely new approach to email marketing by looking at specific user’s buying patterns and directing messages to them that relate to their behaviors.
By looking more into what your target market has responded to in the past, you can predict what they are most likely to respond to in the future and deliver those kinds of messages. In addition, you can re-target people that have exhibited positive behavior towards your company or brand.
With the information provided through behavioral segmentation, you can create distinct email lists groups that will increase open and click rates while diminishing wasted coverage and the number of emails that go ignored.
To learn more about Bridge’s audience segmentation capabilities, click here.