Why Knowing And Segmenting Your Market Is Important

I’ll cut to the chase.

Here’s why knowing your market is important:

• When you understand their fears, frustrations, wants and aspirations, you can offer them a well-suited solution to their problems or needs.
• When you give them what they want, the chances of them turning into your customers become much higher
• Because your have your intimate knowledge of them, you are in a better position to over-deliver value to them.
• With this, they will love you for it. And it will increase your customer loyalty towards you.

And why segmenting your market is crucial too:

• Customers respond better to specific offers
• Customers are happy because they get offers specific to their wants/needs.
• Again, when they are happy, they will stay longer with you.
• You make more profit!

These are a no-brainer right?

Now recently, I had the pleasure of communicating with Linda Morton via email. She is a Professor Emeritus from The University of Oklahoma.

And she is the author of Strategic Market Segmentation.

In her blog, you get the finer points of market segmentation strategies and how to discover what gets your customers ticking.

She is also the author of “Know ‘Em, Sell ‘Em”, that drills down into the finer points of what appeals to your customers.

Look. Market intelligence is important. You don’t need me to spell this out because you already know this. What you need to know is the exact process. And she lay them down for you.

All success,

Jag Foo

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Great Tip! I learn something new everyday about marketing.

I think that the information presented should be useful to many people a lot.

Will try some of these tips asap.

Got an answer from here. Thanks for the great post.
Gerald´s last blog ..Importance of Class K Fire Extinguisher

Nowadays segmentation of market is crucial because without doing this challenge you’ll simply shoot into the air instead of your target audience.
Anna´s last blog ..Agile Software Development Company | Web Application Development Services | Custom Programming | Oxagile

Hitting people with too much information at once is never a good thing. People who were salesmen before the Internet came out have a tough time understanding that sometimes hitting selected groups is better. Back then they had to get their foot in the door and hit people with as many offers as possible, but now we need to be more custom tailored to groups of people.

Marketing segmentation is necessary nowadays because it helps to save your money as well as your time, because you sell your products and services directly to your consumers!

Sally

Jag,

Great article about Why Knowing And Segmenting Your Market Is Important

I have actually read the book by Linda Morton on Strategic Market Segmentation and it certainly helped me in learning how to target my market.

Stephen

@Stephen:

Good to hear that you read Linda’s book. I’m sure it has given you some valuable insight on market targeting.

@Sally:

Not just that, you sell your products to your
customers who want it.
And that’s crucial. Because you are going to someone
who is already targeted and qualified.

Cheers,
Jag

People who were merchants before the Internet came a difficult time understanding that sometimes selected groups is hitting better. Back then they had to get your foot in the door and people living with the greatest possible number of offers, but now we have to be custom tailored to groups of people.