How to carry out good market segmentation?

• Market segmentation is a fundamental process to understand and reach the target audience effectively.

Market segmentation is a fundamental process for any entrepreneur seeking to understand and reach their target audience effectively. This strategic approach involves dividing and organizing potential consumers into groups or segments, considering a variety of characteristics, needs, aptitudes and shared behaviors.

Furthermore, it is not only crucial for the launch of new products or services, but it is also part of marketing strategies. marketing, such as digital advertising on platforms such as Facebook or Google Ads. This process will allow us to target an appropriate audience and avoid the mistake of using resources with uninterested audiences.

Steps to create market segmentation

1. A preliminary investigation and general criteria. It is important to carry out a market study to understand which segments exist. Analyzing competitors, consumers and their characteristics to precisely define the market is essential to publicize any product or service.
2. Make the choice of the target segment or market. Choose the segment or segments that best fit the commercial objectives and characteristics of the product or service and assess which one is of most interest to the company.
3. Define the buyer persona. Deeply analyze the consumer to create the ideal client, where all the demographic, psychographic and behavioral characteristics of the chosen segment must be considered, as well as their needs and motivations.
4. Strategy design marketing. Creating a plan marketing personalized by defining the distribution and promotion strategies of the product or service.
5. Choosing a correct strategy. Launch of the strategy and publication of the campaigns. In this phase it is important to know that not all strategies may work as expected, so it is crucial to constantly analyze the results.

By following these steps you can create an effective market segmentation strategy that helps reach the target audience and grow the project.

Criteria to carry out this type of segmentation

On the other hand, to carry out this type of segmentation, there are various criteria that help define strategies according to the characteristics of each group. The most used criteria are:

• Geographic. This criterion involves selecting the country, region or city we want to target, and is even used to segment by the same language or climate.
• Demographics. It is one of the broadest criteria, since age, sex, nationality, marital status, level of education, job or profession, family, religious beliefs, race or ethnicity, and the purchasing level.
• Business. This criterion focuses on business-related factors such as industry, business size, location, and number of employees.
• Behavioral. Everything related to decision-making and purchasing is analyzed here, such as the most repeated behavior patterns, purchasing habits, timing, frequency and level of use.
• Psychographics. This is one of the most complex criteria, as it classifies the audience based on personality, lifestyle, common values or beliefs, interests, as well as concerns or opinions.

Carrying out a correct market segmentation allows directing the actions of marketing to an audience interested in the product or service offered, which increases the effectiveness of the campaigns. This will be essential for those entrepreneurs who seek to understand their audience and develop effective strategies that drive the success of their project. By understanding the needs and preferences of potential customers, you can make informed decisions and maximize the impact of your commercial actions.