Audience Segmentation Made Simple
What is it?
Segmentation is the process of organising your audience into meaningful groups, or segments. These groups share particular characteristics, such as demographics, socioeconomics, behaviours, geographics or psychographics and are determined based on your brand’s communications objectives.
Why do we do it?
Different audiences require different forms of communication and information.
The reason why audience segmentation is so important is because it ensures that organisations deliver the most effective and valuable information to each member of their audience. Doing this means brands can more effectively engage with all facets of their audience. Segmentation operates on the notion that different sections of a population respond differently to messages.
Businesses must tailor their communication and marketing initiatives based on the characteristics that influence how particular groups perceive and respond to information. For example, sending a first home buyer the same information as an investor wouldn’t serve many benefits. The first home buyer is unlikely to have the same understanding and exposure to the property industry as an investor and most likely won’t engage with the information provided.
As a result, your business may have just lost a potential lead as a result of poorly targeted communication. As a general rule, there are currently six distinct buyer segments in the property industry. They include:
First home buyers
Aged care seekers
Your brand’s ability to deliver targeted messages to these buyer segments – and any other segments defined by your situational analysis – is crucial in developing meaningful relationships with existing and potential clients.
What are the benefits?
Audience segmentation provides multiple benefits when executed effectively. When segmentation takes place, it enables organisations to gain a deeper grasp of their audience and acts as a tool to not only improve engagement but create new audiences. Segmenting your audience helps to ensure your content has value. Effective segmentation enables businesses to more successfully plan and execute campaigns that appeal to particular sections of their audience. By developing greater intelligence through the analysis of market segments, organisations can enhance not only their customer reach, but their relationship with existing and new customers.