Customer Segmentation: Module Two Review

We’ve all been there, we’ve had crazy ideas for online businesses that we could make millions from, well module two challenged us do just that. Build the concept for an online business that we could bring to market.

Throughout our thought process, we kept the following factors in mind:

  • Who our customers would be
  • Customer relationships
  • Value Proposition
  • Revenue
  • Channels
  • Key Activities
  • Key Resources
  • Costs
  • Key Partners

Within our group, we divvied our tasks among ourselves so that we all had a specific area of focus, mine was customer segmentation. I quickly learned that there are a number of routes that you can take when it comes to segmenting your audience, but doing so it vital to the rest of the campaign. It was key that I determined how I was going to segment the customers in a way that would have the biggest impact on the business plan. Here’s what I kept in mind…

  • Identify basic characteristics
  • Demographic segment
  • Customer values
  • Customer life cycle
  • Purchase and response behavior
  • Channel preferences
  • Tone and style performance
  • Web design personas

This would have been neither use no ornament without an objective, I was looking for a segmentation that maximized the ROI of the money we would be spending and which (if any), would be a high objective attribute, I didn’t get all of the information I was looking for from Squared itself, so I went old school and hit the books.

Marketing Books

Together, our group created a plan for ‘Dine at Mine’. A revolutionary was of meeting fellow foodies and engaging with new people. I left module two really happy with the teams collaboration and feeling extremely lucky to have such a wonderful group. My only bug bare, at no point where we asked what operating system we used which made submitted the task difficult as mac programmes where not supported across the board. But hey ho, the team worked together and got around it.

Bring on module three 🙂

 

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