Jenny Scudamore, from Baker Richards, explores ways to maximise engagement and income in her new guide ‘segmentation made simple’.
What’s the recipe for maximising engagement and income?
Segmentation means understanding your available market by breaking it up into manageable chunks so that you can plan appropriate strategies. There are essentially three kinds of customer segmentation: demographic, attitudinal and behavioural (see: Segmentation: What, How and Why). The most sophisticated segmentations might use combinations of all three, with demographic statistics cross-tabulated with extensive survey data on people’s motivations for attendance.
But it doesn’t have to be that complex to get started. If you have an admissions database the most valuable kind of segmentation is within your reach: behavioural. The main benefit of this approach to segmentation is that it can be immediately operationalised. You can set SMART objectives for each of your segments – your target customers – and evaluate using the same simple measures of frequency and recency. You can build incrementally on these foundations, adding variables to achieve more and more sophistication
Link to the full article: http://www.baker-richards.com/insights/segmentation-made-simple/