Traditional customer segmentation is yesterday’s news. Once considered the cornerstone of marketing campaigns, the old models of segmentation now look like cardboard cut-outs against a 3D landscape. Social media and Big Data now give us the tools and the information to reach farther into the minds, hearts and pocketbooks of today’s consumer.
Have you run an internet search today, opened your e-mail, or shopped online? If so, you’ve likely been influenced by sophisticated market segmentation. If you were looking for auto repair, for instance, your search engine knew to put local service stations at the top of the list, and may have even recommended locations specializing in your make of car. The vast internet data engines are constantly concocting the best recommendations to deliver you – the potential buyer – directly to the digital doorstep of your best-fit seller. You save time, the sellers saves marketing dollars by serving up ads to only the most likely prospects. This predictive market segmentation aims to deliver a win-win experience to both you, the consumer, and the marketer hoping to gain your business.