Customer segmentation is the act of dividing your customer base into segments based on the shared qualities of groups of your customers. For the B2B marketer, this looks different than a customer profile, because you are grouping customers based on what the companies look like (firmographics) instead of what a consumer looks like (demographics, psychographics, etc.) Here is how segmentation can benefit you in your B2B big data marketing efforts.
Build a More Accurate Target Market Profile
Customer segmentation involves grouping customers according to factors like industry, company size in terms of annual revenue, company size in terms of number of employees, what region(s) they operate in, etc. Which of these customer segments spend the most with your business? Which are the cheapest to acquire and maintain? Which are the most likely to be satisfied with your product over the long run? Customer segmentation allows you to pinpoint and paint a picture of your most lucrative customers so that you can target other similar businesses with your future lead generation and marketing efforts.
Help You Better Serve Your Customers
With deep and meaningful big data analytics, you can delve into what makes customers happy. What products are they most interested in? What factors make it easier for them to make a purchase decision? What features and functionality are most attractive to them? With these metrics in place, you can serve customers with exactly what they need as you roll out future products, develop documentation for products, and offer products that generate the most revenue.
Empower Your Employees to Provide Stellar Customer Service
Customer segmentation allows you to draw an easy-to-understand picture of your customer base(s) and convey this to your employees. However, you may find that certain methods of customer segmentation prove more effective for your business than others. Customer groups or segments can be used during employee training to illustrate who your business is serving. This deeper understanding of the customer leads to better customer service, which in turn improves customer satisfaction. Inevitably, better training and resources also leads to higher employee morale, which saves your company in other ways, such as lower employee turnover rates.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, check out our real-time web form enrichment demo, or request a free marketing data diagnostic. Get the power to let data drive marketing and higher performance.