You and I may have the same tastes or needs, but there is a good chance that the reasons are different. And it is those reasons that will lead us to make a final purchase decision.
Therefore, when structuring a digital strategy , it is necessary to correctly segment the market to help define the different messages with which to reach the different audiences of the same product or service.
What is market segmentation?
“Market segmentation is a process of dividing the total market for a good or us companies board of directors email database service into several smaller, internally homogeneous groups. The essence of segmentation is to really know the consumers.”
This is how the father of Marketing, Philip Kotler , defines it . Who are we to give a better definition than his?
What we can do is go deeper into the topic so that you finish reading this article without any doubts about market segmentation, its types or its benefits, among other things.
Types of market segmentation
What does Kotler mean when he talks about “smaller, internally homogeneous groups”? We refer back to the first sentence of this post. That is, to subdivide your audience depending on the “reasons” why they are your audience and thus be able to communicate with each subgroup effectively, sending each one the right message about your product or service. The one that will truly resonate with that group and have a beneficial effect on your brand.
And to carry out this subdivision, we must focus on these four types of market segmentation that we list below:
Geographic segmentation: This includes aspects such as the type of location in which this audience resides, the climate, population density or its location (national, international, by communities, etc.).
Demographic segmentation: We talk about the main characteristics that define these people and, therefore, their daily life and their needs. How old are they? What is their educational level? What is their income? What do they do for a living? What is their family situation?
Psychographic segmentation: Very closely related to the previous type, although taking into account much more specific and in-depth details of the audience, such as personality, lifestyle or the social class to which they belong.
Behavioral segmentation: In this case, it is about the relationship that this subtype of public has with the product or service that you offer. That is, why and for what purpose do they need it? How often do they need it? What benefits does it bring them? What attitude do they show towards the brand?
Using the information provided by this fourth type of segmentation, you can categorize your audience by type of consumer: Occasional, regular, due to specific needs, etc.
In addition to these four types of market segmentation, there are two others to consider that depend exclusively on the sector of your business:
B2B (Business to Business). If your product or service is aimed at businesses, it is important to segment your audience taking into account factors such as technological level, investment in purchases and the delivery times and deadlines with which they usually work.
International markets: Political, legal and cultural factors are of vital importance in this case, as well as geographical location and economic situation.
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