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THE 7 WAYS OF ONLINE MARKET SEGMENTATION KNOW IT WITH EYECATCHERS

Eyecatchers is a full service advertising agency with presence in Mumbai, Bangalore, Hyderabad & Delhi. We believe in making advertising that sells, and provide a comprehensive menu of services under one roof: advertising, branding, direct marketing, sales promotion, package design, product placement, media planning and buying, traffic, event planning, public relations, digital marketing, website design/ development, Web hosting, social media management and an ever-evolving list of attributes that contribute to the brand communications, marketing and selling of the client’s goods and/or services.

With our understanding of the Indian market, we look to engage, brainstorm & generate mutual guidance through regular communications on the business-specific topics.

Market segmentation (dividing your market into smaller sets of prospects who share certain characteristics) takes many different forms. You need to select the one that’s the best fit for your business. For your online marketing plan, you need to locate the various sites & social networks on the Web where your target audiences hang out, so you need to know who they are. Think about it for a moment. The sites that appeal to opera lovers might not appeal to teenagers, and vice versa. One caveat: Your online target audience might differ slightly from your offline audience. It might be more geographically diverse, wealthier, younger, more educated, more motivated by price than features, or vice versa. You discover these variations only from experience. Here are a few forms of market segmentation:

Demographic segmentation: Sorts by age, gender, socioeconomic status, or education for B2C companies.

Lifecycle segmentation: Acknowledges that consumers need different products at different stages of life (teens, young singles, married couples, families with kids, empty nesters, active retirees, frail elderly).

Psychographic segmentation: Profiles consumers by a combination of attitudes, values, beliefs, self-image, lifestyles, or opinions.

Geographic segmentation: Targets areas as small as a neighborhood or zip code or as broad as a country or continent.

Vertical industry segmentation: Targets all elements within a defined industry as a B2B strategy.

Job segmentation: Identifies different decision makers (such as engineers, purchasing agents, and managers) at specific points of the B2B sales cycle.

Specialty segmentation: Targets a narrowly defined market (such as 45- to 65-year olds, female caregivers of people with Alzheimer’s, or 16- to 35-year-old male owners of classic Mustangs)