CUSTOMER SEGMENTATION is a process of dividing people into homogeneous subgroups based on a number of criterias such as product usage, demographics, psychographics, communication behaviors and media use. Customer segmentation is commonly used in marketing field, thus companies can design and serve products, services and campaigns that suitable for the target groups. The data-oriented segmentation, on the other hand, means analyzing, customers and potential customers by using correct and quality data. There are more than one methods of making customer and market segmentation.
Demographic segmentation based on demographics such as age, gender, income, ethnicity, and education level. Demographic segmentation assumes that people with similar demography have similar purchasing patterns or interests. This method can not be always efficient to divide people into groups. On the other hand, demographic segmentation can be used effectively for B2B (Business-to-Business) markets to identify company profiles by using their demographics to classify them by their market role.
Psychographic segmentation segments the market with criterias such as lifestyle, values, consumption habits and social classes. With this aspect, psychographic segmentation is less tangible than demographic and geographic segmentation. Generally, past customers data is used for psychographic segmentation, and in this direction psychographic features are determined.
In behavioral segmentation, which shows similarities with psychographic segmentation, consumers are segmented according to criterias such as usage, awareness, loyalty, knowledge, liking and buying habits.
In geographic segmentation, there is a third dimension which answers “where” questions. This makes geographic segmentation more tangible than psychographic and behavioral segmentations. This type of segmentation is generally used for both divide market and people into similar groups mainly based on location information. Consumers living at same regions, typically display varying needs, wants, and cultural characteristics that can be specifically targeted for more efficient and better marketing. On the other hand, this location-based similarity rule can be seen more clearly when analyzing a market geographically.
Which one is the best?
There isn’t any specific answer for this question, it depends on application and targetted segment. Maptriks uses all of them considering customer needs. We use all types of segmentations in an integrated system called GIS (geographic information system) which provides visualization and analyze tools to understand all segments easily and effectively.
Data accuracy is everything for modern marketer -but it’s not easy to come by. It continues to be an enormous challenge for segmentation and targetted communications. The result of working with innaccurate data can be caused waste of thousands of dollars, loss of market share, and lack of brand awareness in a competitive market.
A high-quality, third-party data solution translates to more personalized and contextually relevant campaigns that drive visit lift, brand awareness, uncover new audiences, and most importantly delivers strong ROI.
How can marketers access the highly accurate data?
In this field, our company Maptriks is one of the world leading company which really cares data accuracy in every type of data. Maptriks tests its data sources using complex methodologies to test the accuracy.
Our exacting capabilities are achieved by the data science we use to improve the precision of our POI database and the accuracy of our technology. Even more importantly, these combined efforts mean we have the ability to discern between quality data and junk data. Our methodologies includes testing methods to discern between quality data and junk data.
Reach the Real Audiences from the Real World
You can identify target audiences and campaigns based on main factors like geo-demographics, consumption preferences and built environmental factors. Maptriks’s high-quality geo-demographic and economic data sets are the ideal solution for the companies that want to determine their target and potential customers with high accuracy. In addition to this, Maptriks provides web-based systems to find your potential consumers, segmentate them, analyze them and visualize your works within geospatial dimension. You can access our systems online from anywhere and make high-level analysis to improve your company’s marketing strategies by using our user-friendly interface that can be customized according to customer needs and demands.
How do we know it works?
Since 2009, our location-based solutions, has been a proven managed-service offering of choice. Over the years, we have delivered top-notch results, helping to bring visibility to creative marketing solutions in many industries by using geospatial data and location intelligence.