Identifying the right audience segment is vital for your business goals. It’s important to strategically refine your segments based on your business priorities and upcoming campaigns. You should identify your most valuable audiences before committing your marketing budget to new campaigns.
For example, a retailer might simply choose to target every customer who spent over a certain amount in the previous year. But within this broad customer segment, you are likely to find a very different mix of people, such as:
1. Loyal Customers.
Those who shop with the retailer regularly throughout the year.
Strategy: may receive more branded advertisements throughout the year to keep the retailer top-of-mind.
2. Seasonal Shoppers
Those who blew in for intense last-minute holiday shopping.
Strategy: could be targeted most heavily around the holidays.
3. Bargain Hunters
Those who were lured by a great deal or a voucher.
Strategy: could be lured back with discount codes or vouchers.
The loyal customer may not have spent as much as the seasonal shopper last year, but may have a greater lifetime value in the long-run. Segmenting your customer base along more granular line can provide unique opportunities for customised messaging and optimisation.
To find out more about identifying your audience segments, download our ebook here.