Unlocking True Insights Beyond Pre-Built Customer Segments
In the ever-evolving landscape of marketing, understanding your audience is paramount. Crafting a message that resonates with your customers requires more than just knowing what out-of-the-box consumer segments your customers belong to.
While pre-built consumer segmentation solutions can offer interesting insights, they often fall short in two ways:
Some pre-built consumer segments are known for being relatively simple and generalized. They categorize consumers into broad groups based on demographic and socioeconomic factors, which might not capture the full complexity of individual preferences and behaviors. Marketers looking for more nuanced insights may find these types of segments lacking.
Other off-the-shelf segment solutions are known for their level of detail and specificity. While this can be an advantage over more generalized segments, marketers may find the granularity of these segments make them difficult to navigate — as well as challenging, when trying to practically apply them to a marketing strategy.
A marketer can often feel like Goldilocks looking for the solution that’s specific to their particular business. This is where having a full suite of tools to generate a custom-built set of marketing personas, unique to your brand, can truly help identify and nurture your highest value customers. Custom personas are dynamic to your evolving business, and are automatically updated as new customers are acquired
Here is where our customers find the most success employing a data-driven approach to personas:
By relying on pre-built consumer segmentation solutions, and employing these segments in brand strategies, this opens up significant competition for advertising space and consumer attention. With a set of custom-built, dynamic segments, marketers have the power to unlock insights to identify which specific consumer groups are most likely to be interested in their products or services. Having knowledge of which product affinities and purchase behaviors intersect with a dynamic set of custom personas (and applying this knowledge appropriately) allows brands to yield the right level of targeting for their business without marketing waste.
With an understanding of who the key, high-value personas are, their purchase behaviors, and which products and channels they favor, marketers can craft personalized messages that are tailored to the specific preferences of each customer segment. Applying these predictive capabilities significantly improves the chances of resonating with the audience — and sets up the foundation needed to deliver effective remarketing and acquisition campaigns that appeal to each group.
With custom-built personas, brands can actively inform their product development and strategy. For example, marketers can spot trends and preferences across different personas to identify patterns of product purchases. They can then position these goods as a product bundle, or build subscription offerings based on repurchase patterns.
In the grand narrative of marketing, the Goldilocks principle rings true — balance is key.
While some consumer segmentation solutions may offer simplicity, and others may promise precision, having a platform that offers the full suite of tools for identifying and nurturing your high-value customers that balances both — particularly through a solution like Decile’s custom data analytics platform — strikes the perfect balance and sets your business up with the right tools for success.