No doubt that all social media and modern technologies have already brought us in the era of hyper-personalized marketing, what means that the main challenges for promotion nowadays are to create the right message for the right person and deliver it at the right moment via the right channel. All these factors make us forget about mass marketing and move forward to targeted marketing.
Static B2B Market Segmentation
But still business leaders all over the world follow a couple of basic principles of doing B2B market segmentation over the last decades:
Significance: market segment should be distinguished if it has a set of unique characteristics which clearly differentiate it from others and be large enough to justify its existence
Prioritization: not all market segments have the same commercial potential for the business, since they differ in size, value, competition, profitability and growth potential
For any kind of market segmentation we will need a data collection. There are many sources of information, but the majority of them provides static criteria such as country where company operates, its sector, size, turnover and others. All these characteristics may change over time and affect the positioning of the company.
Dynamic B2B Market Segmentation
The fast-changing reality makes us to pay more attention on dynamic criteria of the companies such as purchase history, indicated business preferences and personal history of related accounts.
It seems that the desired personalization and upgraded model of segmentation requires a new approach and a lot of up-to-date sources, but with the right tech solutions and strategy, it´s actually quite achievable.
If we go deeper into technological aspects, a marketing automation platform integrated with a CRM system can help you keep track of vital customer information, including defining characteristics, preferences and engagement history. In terms of strategy, marketing and sales directors should use more actively “funnels” to detect more prospects based on dynamic characteristics of the company, predict trends of future development and find opportunities for collaboration. Such type of proactive data research helps to generate high potential leads and convert them into B2B partners and customers.
Segmentation of the customers based on vital characteristics can help you deliver tailored messages to a specific group of relevant people. For example the Datanyze platform helps to detect very precisely your target companies based on 100s of different variables all over the world, analyzing both static and dynamic criteria, find the right person to contact with contact information to engage directly with an individual message, based on his or her social and business activities.
To see how Dynamic market segmentation can help your marketing and sales be more effective:
Certainly, the time of static data providers is gone!
The future belongs to the solutions with real-time insights, workflow prospecting and permanent update of information.
IVC always follows the latest tech trends and ready to help businesses to succeed in the competitive markets. If you are interested in the effectiveness of your Customer Relationship Management,