Direct Marketing 6- How you can Segment your target markets

Segment your target markets

Ryan and I discuss just some of the possibilities / approaches to segmenting your market.   Here are links to resources discussed:

1. InfoUSA.com (See list below video for what we reviewed in the Word document)
2. List sources:
   1. SRDS (Standard Rate and Data Service)
   2. NextMark
   3. List Brokers
   4. InfoUSA
   5. Your present & past customers
   6. Other businesses which share your target audience (but don’t compete with you)
   7. thousands & thousands more
3. Gary Halbert: The Boron Letters , Chapter 6 (Great walk-through from broad to specific lists)
4. Art Weinstein: Market Segmentation: Using Demographics, Psychographics and Other Niche Marketing Techniques to Predict and Model Customer Behavior
5. PrettyLinks: Great for tracking performance of each A/B test and different target audiences
6. TextMagic: Automate texting your customers.
7. Craig Simpson: The Direct Mail Solution (A ton of great information in this book!)
8. Nick Kolenda: Psychological-pricing-strategies and books
9. Dan Kennedy: No B.S. Price Strategy (If you’re wanting to avoid being a commodity, this is a must read)
10. Priceintelligently.com
11. Bill Bishop: How to sell a Lobster  (Wonderful book with great examples that will blow your mind!)
12. Jack Trout: Differentiate or Die
13. Al Ries & Jack Trout: Positioning: the battle for your mind
14. Dean Da Costa- Sourcing and targeting tips
15. Joseph Sugarman: Triggers
16. Dan Kennedy & Dave Dee: 7 Secret Triggers of Creating a Mind Control Ad Copy (This is a great & insightful video!)

How to Segment your target markets

Geographic

1. X miles around / drive-time around your brick & mortar store
2. USPS block  / delivery block
3. Census Block
4. Census tract
5. Zip code
6. MSA
7. State
8. Country

Demographics

1. Job Title
2. Income
3. Education
4. Age
5. Household size
6. Social Networks of Decision Makers
7. # of kids < 12
8. Parents living in household
9. Gender
10. Employment status
11. Home owner / renter
12. # of cars owned
13. Recently moved
14. # of devices (phones, tablets, computers, etc.)
15. Has Savings account / Stocks, etc.

Niche Specific Activities

1. Death in family
2. Just bought a home
3. Just sold home
4. Recently
5. Fire at home
6. Recent birth

Psychographic / Attitudes

1. Have MasterCard / Visa
2. Subscribe to specific media
3. Previously purchased x items
4. Goes to movies
5. Spends money on XXX category
6. Listens to Rock music
7. Watches murder-mysteries
8. Shops on Home Shopping Network

Affinity / Groups -Associations they belong to / believe in

1. LinkedIn groups
2. Facebook groups / pages
3. Competitors- Customers or employees of them
4. Credit cards (animals, veterans, etc.)
5. Chamber of commerce
6. Local / State / National seminars
7. Toastmasters
8. Event attendance
9. Liberal / Democratic / Republican / Libertarian etc.

Media Consumption

1. TV stations
2. Radio Stations
3. Newspapers
4. Magazines
5. Blogs
6. Stores they visit

(If Business is B2B) Corpographics

1. Industry / NAIC code / SIC code
2. Number of employees
3. Number of Locations
4. Number of Desktops / PCs
5. Sales / Revenue
6. Software / Technology used
7. Years in business
8. Job titles of Decision Makers
9. # of people with a given Job title (help understand / Identify target market)
10. Type of company (Public, Private, Government, Non-profit, Education)
11. Credit ratings
12. Increasing / Decreasing Sales
13. Headquarters location
14. Their typical customers (specific, B2B, B2C, B2E, General Population, etc.)
15. Current Market share
16. Own / Lease their assets
17. High Tech, Low tech, Human
18. Media spend by product / market
19. Mergers & Acquisitions
20. New hires / Attrition