Customer Segmentation: What Does it Involve?

Definition and explanation

Customer segmentation is the process of dividing a customer base into smaller groups based on specific characteristics such as age, gender, location, interests, behavior, and purchasing habits. This helps businesses to better understand their customers' needs, wants, and preferences, and to create targeted marketing campaigns that are more likely to resonate with each group. By dividing customers into segments, companies can tailor their products and services to meet the specific needs of each group, ultimately increasing customer loyalty and sales.

Why it matters in sales

Customer segmentation in a sales organization is like dividing a pizza into slices. You wouldn't serve one person an entire pizza, would you? Similarly, treating all customers the same is like expecting everyone to have the same appetite. By segmenting customers, sales organizations can personalize their approach, offer targeted promotions, and build lasting relationships. As Seth Godin once said, "People do not buy goods and services. They buy relations, stories, and magic." So why not give them the magic they deserve?

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