Lead segmentation for support

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If you want to grow a successful  business, you should know your clients like the back of your hand. Who are your clients? What do they want?   Stay until the end to find out. (Upbeat music) All businesses want is to provide   their clients and customers with  their services or products. But in order to do this, you must first  get to know existing customers and devise   a strategy to find future ones. Market segmentation divides the entire customer base that you could address into groups that share common characteristics. This includes existing customers  and prospective customers. Customer segmentation also divides  customers into groups and categories by considering their shared characteristics, but it focuses solely on existing customers. Businesses use market segmentation to learn more about their current and future customers and how to approach different customer segments. Segmenting can help sales and marketing reach out to customers, providing them with products  and services they would be interested in. This allows businesses to custom-tailor  their approach, product, and service to  their customers’ needs, but it also allows  them to improve customer retention. Market segmentation is the first step of  the STP model that includes segmentation, targeting, and positioning.   The idea behind this three-step process is to segment the market first  in order to be able to target customers and position your product or service. There are four main types of market segmentation: demographics, psychographic,  behavioral, and geographic. However, other segmentation types could be added to the list, such as transactional segmentation, needs-based segmentation, life stage  segmentation, benefit segmentation, firmographic segmentation, and  socio-economic segmentation. Using market segmentation, businesses  divide their customers into groups with the same characteristics such as age, geographic location, interests, needs, lifestyle, etc. When it comes to building a solid customer segmentation strategy, it’s a process of in-depth research and analysis. Research the market and existing customers and analyze their data to create  separate customer segments. Do a SWOT analysis to research your business's strengths, weaknesses, opportunities, and threats, and devise an overall business strategy  or individual marketing campaigns. Let’s not forget about RFM analysis, which stands for recency, frequency, and monetary value. This analysis looks at how long it has been since your client used your services or visited your website, how frequently they purchase or interact with your website, and monetary analysis shows their intention on making a purchase. RFM analysis uses data on existing customers' behavior to predict how future  customers will behave down the line. Collect data and analyze results to identify  the target market, target customers, and existing customers - this will give you a deeper  insight into who your buyer persona is. Learn everything about your existing  and prospective customers' demographics, preferences, and behaviors. While researching, keep your eyes open to spot new opportunities, markets, and niches. A buyer persona is your ideal customer or client. Its fictional profile is based on  the market and customer research, describing in detail your target audience. Having a particular buyer persona in mind will help businesses better market, develop, and  ultimately sell their product or services. If you want to build a successful business,  client segmentation is a must. It will help you improve customer retention  and boost customer loyalty by turning clients and customers into brand enthusiasts who will support your business wholeheartedly. By learning more about your clients,  you will know exactly how they want to be reached and interacted with, and what  they need from a product or a service. Finally, all this effort really pays  off, unlike the endless goose chase of pointlessly reaching out to cold leads. To build a brand and gain loyal customers, you must remember that your clients are  individuals with their own needs, desires, and preferences - and treat them as such! Personalizing your approach and getting to know them as much as possible, will help  you to build your business providing them with exceptional services. In return, you will get loyal customers who will choose your product over the  competition at any time of the day. The benefits of client segmentation are numerous,  but most importantly, it will show you exactly who your clients are and what they want. And it really is as simple as that. If you want to learn more about managing projects,  teams, and clients, don’t forget to like, share,  and subscribe to our channel, where  we share the ins and outs that will help you boost your business. Thanks for watching, see you soon!