Market segmentation is the compartmentalization of both current and potential customers into clear segments. These segments are composed of specific themes that include purchasing habits, similar income levels and demographics.
These themes are also collected with marketing strategies in mind. That is, grouping together customers with the goal of giving ‘similar’ marketing targets and strategies.
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Incorporating a customer data platform or CDP Platform into your marketing strategy is one of the key ways to collect key information about your customers. CPDs allow you to collect first-hand data about your customers including their activity on different platforms, transactional data and personal information.
There are many benefits that come with getting a clear picture of your market.
Marketing departments will commonly create the following themes:
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