I’ve got data segmentation on the brain. I am helping put together our April newsletter which will be coming out towards the end of the month. The topic: data segmentation. So naturally, the concept is bouncing around in my head. I recently read an article on CustomerThink.com (formerly CRMguru.com) entitled Value is as Value Does: How a fortune 100 Pharmaceutical Company Calculates Value. This article explains the steps a pharmaceutical company took when purchasing 100,000 computers for its employees. They narrowed their options down to two vendors and what is interesting is they didn’t choose the vender that offered them the lowest price. Instead, they chose the vendor that took the time to really get to know their company inside and out.
It’s really easy for us to fall into our comfy sales and marketing niches. Unfortunately, the same sales and marketing tactics don’t work for every customer or prospect. We have to be flexible. We have to take the time to understand the way the company works along with finding out their wants and needs. Once we have this valuable information, it is easier for us to market and sell our product based on what is relevant to the company.
Data segmentation is a huge factor in fully understanding a customer or prospect. Imagine being able to track the activities of your customers and sending out marketing messages based on their actions. This is not an idea for the future; it is a process that many companies are using every day to send targeted messages to customers. The bottom line is that fully knowing and understanding our customers is crucial to effectively market and sell our products and it is possible and easy with data segmentation.