One size may not fit all, a contrast statement to the adage “one size fits all”, is very true in B2B Marketing.
It has long been known that not every customer behaves similarly, which has shifted the marketing industry’s focus to create a more personalized approach. Many strategies and tactics have emerged and evolved to personalize the experience of every lead and customer.
‘Marketing segmentation’, a coin termed in the year 1956 is one of these tactics.
Marketing Segmentation- What is it?
Marketing segmentation is a process of grouping leads in your database based on various similar factors each of them share.
These factors are based upon Demographics, geographics, Psychographics, online behaviour and many more.
According to a Mail Chimp study Email campaigns segmented by user interest see 74.53% higher click rates as compared to non-segmented campaigns.
It also stated that on a global basis, segmented email campaigns see 100.95% higher clickthrough rates as compared to non-segmented email campaigns.
So what makes segmentation important? Why does it create such a big difference as the statistics mentioned above say it does? Let us find this out with 3 benefits segmentation offers in B2B marketing.
Here are the benefits of Marketing Segmentation
- Increases client retention
Does segmentation lead to an increased client retention rate? It does. It helps us send personalized messages catering to the needs of every client.
Such content with the right context creates a satisfying experience for the clients who are then more likely to buy from you again.
Furthermore, segmentation can help us identify which of the existing customers are ready to buy again and which ones have had a customer service problem.
This helps us target such customers at the right time with the right content in the right context and help retain them.
- Helps the business stay focused
Segmentation helps a company identify the market segments where its audience is present and interested.
This helps them direct their focus only on a market segment which is working well for them and ensures better productivity and efficient use of time and money giving a business clarity to be decisive in the right time.
- Increases Revenue
The benefit of detailed information derived from segmenting your audience helps you serve them with content that they want to engage with. In other words, highly customized, personalized, and relevant content.
Such content helps not only retain your clients as discussed above but turns them into your loyal customers also called brand advocates.
These advocates become the company’s asset helping it generate lead through their word of mouth marketing largely contributing to the company’s ROI.
Marketing segmentation is a necessity
Marketing Segmentation helps in increasing your chances of success in the long run with its ability to help you to reach out to customers that matter the most.
And, with LoracMedia’s segmented email database and strategy, you can make your lead generation efforts swift and efficient.
Connect with us here.