Data Segmentation
Do you want to segment your data, so you can sell the right product to the right target, through the right channel, with the right message?
Do your response rates routinely fall below 1%? Are your conversion rates below 10%? Data segmentation could make your marketing more cost-effective.
Market segmentation - made easy
Create a scientific, empirical approach to marketing, which allows you to experiment, measure and improve using a statistically sound, evidenced-based approach.
Response rates vary greatly by medium, and so do costs. Whether your response rates are 0.1%, 1% or 10%, the important questions are:
- Are they cost-effective?
- Are they better than your competition?
- Do they make a significant contribution towards your growth targets?
Unless you answer "yes" to all 3 of the questions above, you're probably doing direct marketing as usual, which means that:
- The costs justify the returns, but you could do better, which means you run the unnecessary risk of losing out to your competitors.
- Even if the returns are fantastic in percentage terms, they're too small in absolute terms.
- Most of your marketing spend is wasted due to imperfect targeting.
Practical approach
You need to do something different to make your direct marketing stand out from the crowd. EIMS can help. We can help you think through the options available to you, and what the right approach might be.
Then there are the practical issues with segmentation:
- Sometimes you are targeting "executive decision makers in enterprises over 200 employees" because it sounds right, rather than because you have any evidence that it's what works best.
- Maybe you need to segment your data to target your messaging better? Or maybe you just need a way of sharing data with partners across geographies or verticals?
Whatever your issues, EIMS Data Services and tools to take the "dark art" out of segmentation and targeting, so you can:
- Clean, and complete your data, so they are accurate and relevant enough to deliver market segments that work in practice, not just in theory.
- Develop a practical implementable segmentation strategy which everyone can understand and use in real-life.
- Make your segmentation policies available to your colleagues and channel partners, and eliminate the issues of conflict and over-use.
- Use market segmentation easily and effectively to optimise your marketing!
With our easy-to-use, powerful, online segmentation tools:
- You can create as many segments as you like.
- You can create overlapping segments and test cells.
- You can create conditional segments, to eliminate overlap or overuse.
- You can parameterise your segments, to allow for easy localisation, structured test cell creation, etc.
- You can share segments easily with your marketing or partner colleagues, to standardise segmentation methodology.
Start straight away: You can learn by doing.
- The performance of each segment is automatically recorded by the system, so you can improve as you go along.
- You can create new segments to build on the knowledge you have gained into powerful new segments.
Make your marketing empirical, with measurable, manageable market segmentation, with EIMS.
Problems with data segmentation?
Sometimes proper market segmentation is impractical, because your data is not good enough to support detailed select criteria, and you end up with datasets that are too tiny to make a significant contribution to your bottom line. In this case:
- Look to EIMS other Data Services to clean and condition your data before you start segmenting, so that you can really make a difference with your segmentation.
- In particular, use EIMS data enhancement services to build out your data so that you have the data attributes that allow you to segment and select successfully.