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Your marketing strategies are most effective when you use targeted messaging aimed at your specific customer base. But how do you know what that customer base wants?
Customer segmentation is a way to break up your current or prospective customers into groups. Baremetrics helps you define these subsets so you can successfully address each group’s specific needs. Learn more about your customers by using the Baremetrics customer segmentation feature.
The criteria used to define each segment is the basis for customer segmentation models. They offer marketers a gateway into the development of key strategies to improve return on investment.
Sign up for a free trial with Baremetrics to see how easy it is to gain insights from customer segmentation.
Get deep insights into your company’s MRR, churn and other vital metrics for your SaaS business.
One advantage of having a data set on your best customers is gaining an understanding of what draws them to your brand. Customer segmentation makes this data set even more powerful by diving a little deeper into customer data. Gain insight into the demographic data of your high-value customers or the psychographic data of those targeted by marketing campaigns that didn’t quite connect.
In other words, customer segmentation groups your customers by a particular metric or group of metrics. That gives you an edge when you want to market to potential customers on social media, and you’re at the mercy of an algorithm. Since you know which group is most valuable to your company, you can focus on marketing strategies that speak to that group. That means you avoid the less cost-effective “throw everything at the wall—or the LinkedIn feed—and see what sticks” strategy.
To get metrics segmented by the specific criteria that define your customer, use the Baremetrics customer segmentation feature here.
There are many models of customer segmentation. Let’s start with the four most common:
While these four are the major groupings, others may also offer valuable insight. For example:
More sophisticated market segmentation strategies look at a combination of these models, or they mix and match criteria to come up with in-depth marketing insights.
As you define your customer, see how the Baremetrics customer segmentation feature can improve your metrics. You can put your segmentation models into action with a free trial.
There are two ways to think of customer segmentation analysis. First, it helps you group existing customers by common characteristics. This offers a chance at retrospective analysis to determine why specific groups chose your brand. It also lets you look at how you can keep them happy in the future, which reduces your churn rate. It allows you to exploit opportunities to upsell or cross-sell to these customers.
Second, this helps you create marketing messages and a customer experience that attracts new customers. These groups have distinct wants and needs that your brand must deliver to make the sale. Narrowing your focus from a large, unwieldy marketing segment to a smaller group helps you tailor new products so you can speak to this smaller group’s use case.
Baremetrics is the most effective tool on the market for you to gain actionable insights from your existing data. Sign up for a free trial today!
Want to Reduce Your Churn?
History Hit uses Baremetrics to measure churn, LTV and other critical business metrics that help them retain more customers. Want to try it for yourself?
Whether you’re a digital startup or moving from an offline business model to ecommerce, customer retention is essential. You want to attract and delight good customers with an excellent experience. Achieving that goal isn’t just about the quality of your product—you have to know a little bit more about your target customers.
Baremetrics helps you do just that. Our lightweight tool makes use of the sales data you already have by translating it into customer segmentation insights you can track over time. Want to see how? Begin your free trial today!