Podcast Neil Wilkins

One Size Does NOT Fit All : “No product or service has ever, or will ever, exist, that serves everyone in equal measure. If you hear a colleague or manager say ‘our product is for everyone’, it’s time to teach them about market segmentation.” Market segmentation is the process of dividing a broad target market into smaller, more manageable segments based on various characteristics like demographics, behaviours, and geographic locations. It allows companies to precisely target their offerings, create more effective marketing campaigns, and maximise resource efficiency. “Understanding the humans within the segment, is critical for true personalisation and customisation in your marketing communications.” To implement or refine your segmentation strategy, begin by identifying key characteristics of your target market. Then, divide your market into segments based on these traits. Next, develop targeted marketing strategies for each segment. Finally, monitor, measure, and adjust your strategies based on performance