Marketing Segmentation and List Segmentation for Higher Sales Conversions
A Lesson on Marketing and List Segmentation:
"How to grow your business like Giant Eagle or Kroger"
In any business there is essentially a 3 part formula for the success of that business, whether you
are doing business online or not:
It is: Traffic + Conversion = Revenue
The rest of what we do in generating profit should fall into the Traffic generation or the
Conversion process: Another way to state this formula would be:
Exposure + Sales = Revenue
The rest is just the "how-to" of getting that equation to work for us. And that is no different
whether you own a multi-billion dollar chain of department stores or if you own a small start-up
online craft store. Today's lesson assumes you are getting some traffic or exposure to your
products and services and focuses more on the "conversion" process (converting traffic to sales).
If you have done business online for any length of time, you will come across this marketing
buzz word:
"segmentation"
and honestly, there are a million and one ways to segment whether you do business online or not.
So what is segmentation?
In simple terms, segmentation is breaking up your list, customers, visitors, foot traffic, prospects,
suspects etc. into more specific list (segments) based on their voluntary information, behaviors,
or responses. Then serving them based on their responses. The initial pioneers of "segmentation"
started this decades ago with the simple little coupon (but that is another lesson). I'm sure there's
a more technical definition, but this one works.
Marketing Genius Lesson from Kroger & Giant Eagle
If you ever use those little plastic cards from Kroger or Giant Eagle (the ones that track your id
with your buying behaviors) sure they give you perks, but they are doing something far more
ingenious than just giving you perks to come back and shop again. They are tracking what you
buy, when you buy it, how much you buy, etc. so that they can send more targeted offers
your way (including coupons related to your specific habits and preferences). This tracking is
done individually, store-wide, state-wide, and nationally so they can make better decisions to
help their company to continue to grow by serving their shoppers with more targeted offers and
insight.
Isn't that ingenious?
Every time you buy, there is an incentive to get you to use your little key chain card that records
your buying preferences, behaviors and history. They store the data and then send offers and
coupons your way based on your preferences.
So, how does this help you?
First, it would depend on the processes you have established for your business, and then
incorporating the right technology (or system) to help you to track, segment, and then make more
targeted offers to those who are listening to what you have to say. If you use email marketing or
are interested in making it work for you, there are some very affordable & easy to use
email marketing services that allow you to segment your traffic easily so that you can improve your
offers and sales. You may not own a Giant Eagle or Kroger store, but you can segment your
marketing list, subscribers, or followers in many ways, including:
-Using software that tracks clicks from emails online
-Using Google Analytics (it's free) to track traffic behaviors
-Using a Squeeze Page to segment or capture specific prospects
-Using Coupons in your store with tracking codes
-Offering different free reports that speak to different topics
(then tracking which report your subscribers show interest in)
- and this is just the tip of the ice-berg for segmenting ideas
If you need more help in segmentation, we might be able to help. If you are not interested in
segmentation right now, perhaps these other articles will help. Just click on the one that seems
to be more to your liking and read away (there's no catch)
2) Email and Relationship Marketing Pointers (real life example)
To your online (and offline) success!
Aaron Schulman for
AimAdvantage.com
p.s. If you are considering getting some help for your business project, we offer 10 % off
for those who are registered on our email mailing list. For more information on our
services, read more here == > http://www.aimadvantage.com/consult
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Aaron Schulman for Aim Advantage
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