Segmenting To Understand Your Customers

segmentation Businesses need to understand their customers.  Now I know this is not an Earth shattering concept.  However, a number of businesses do not know who their customers are. And, in turn, they do not understand how to attract their customers.  By segmenting your customers, you can learn more about them and how to attract them.

I tell my retail and restaurant clients and potential clients that “birds of a feather tend to buy together.”  But in order to grow your customer base, you need to get a good understanding of who your core customers are.  To do this, you need to understand not only the demographic components of who your customers are, but also the psychographic components of who your customers.  Here are examples of each.

Demographic Components:

  • Marital status
  • Age group
  • Children
  • Household size
  • Location of residence

Psychographic Components:

  • Types of magazines read
  • How news is received
  • Activities participate in
  • Types of vehicles driven

Once you are able to understand your core buyer in both demographic and psychographic components, then you are can start to develop strategies to find more similar potential customers.

How have you segmented your customers?

–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at jnolfo@rhinomarketresearch.com.

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About J. Nolfo
Well...there is a lot to know. #Cx, #Analytics, #SM, Specialty #AgChem, #StL sports, & more. FT @BASFAgProducts. @Mizzou Alum. Supporter of the #Rhino. Tweets my own. #SMMW17 attendee....Dad...Hiker...Scouter...and so much more.

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