Psychographics is a segmentation method that delves into how consumers actually

The rate at which brands are able to collect and analyse digital data is remarkable, given the fact that data is constantly accumulating. In fact, according to computer software company Domo, around 2.5 quintillion bytes of data are created each and every day… globally. It’s clear that this number is only going to increase as the number of internet users worldwide has grown by over 2 million in the past 10 years. That’s really something.

So, it’s no wonder that brands utilise data from multiple sources, simply because the data is so widely available and, arguably, because it’s now a necessity. That is, if you want to keep ahead of competitors and draw deeper, more intimate relationships with your audiences by offering the level of personalisation that they have come to expect. 

Source: Forbes

Big data puts the individual at the centre of your marketing strategy. It leads the way and clarifies your segmentation process in order to draw the best results for both the brand and the audience. Those businesses that mass-market or target a large, indiscriminate number of segments run the risk of diluting their brand. This is why big data is fundamental in modern-day marketing.

As well as identifying both the similarities and nuances of individuals, big data tracks consumer segments as they evolve. Meaning that as audiences change and grow, so does their data. So a user who is currently a young, spritely law graduate could later become a high-end, seasoned barrister, with different requirements and interests. 

Source: Forbes

Essentially, people change and big data changes with them. This then paves the way for brands to be consistent in their marketing efforts by adapting their personalisation endeavours and, consequently, boosting brand loyalty by optimising user experiences. 

Source: Forbes

Getting to grips with the similarities and differences of your current and prospective audiences is what makes accurate segmentation possible. Segmentation today is data-focussed and data-driven. 

It’s the intelligent use of big data that gives brands the ability to properly engage with consumers, have an edge over their competitors and ultimately become market leaders, thought leaders and outstanding digital disruptors. Between big data and the normalisation of personalised communication, market segmentation is basically a must for any brand looking to make it in the big wide world.

So, where do you begin? 

We’ll start from the top with the main types of segmentation. 

So, the big question is, is demographic segmentation enough for your brand? 

You might be similar to other brands in the sense that, yes, demographic segmentation has its firm place in your marketing strategy. Or you might think, well, it’s not enough but it definitely makes a difference when paired with elements of geographic segmentation! At the end of the day, if you know your brand well enough, you will know which segmentation types are the most appropriate for you, i.e. which will elicit the greatest return for both your business and your customers.

Let’s move on and see what other segmentation types have in store for us.

Here are our 5 key footsteps for creating and executing your GTM strategy:

1. Define your target markets

You can’t please all of the people all of the time, that’s just a fact of life. With this in mind, it’s important to first define your target market so that you’re clear on the challenges you will be addressing and to be confident that you’re offering the right thing to the right audience. 

So don’t spread yourself too thin - in reality, there will be a select area of the market which your brand most suits, so ask yourself:

2. Define your target audience

Dig a little deeper: once you have defined your ideal market, characterise your ideal audience. Because the more you know about them, the more successful you will be. Consider:

3. Define your brand positioning

Your brand is unique. And your brand positioning is exactly what explains this to your audience, keeping you in a special place in their mind. A legitimate GTM strategy will always include a strong brand position. This is because your brand position is one of the main players when it comes to illustrating your competitive advantage and justifying your place in the chosen market. So start by addressing these fundamental questions: 

4. Define your Unique Value Proposition (UVP)

Also known as a Unique Selling Point (USP), your UVP details the main features, benefits and attributes of what it is that you’re offering. Which, by extension, should also give context to your audience. 

5. Select your Channels

This is undoubtedly one of the most important aspects of any GTM strategy. You may have successfully defined your product or brand position, but this work is all fruitless if you don’t have an audience to communicate with. 

Your primary communication channels should be in line with your brand and your market segmentation data. For example, if your brand has both an online and high-street presence, you may want to utilise social media as well as traditional marketing methods, such as email, TV or even newspaper ads. 

Your market segmentation will give you all the information that you need in order to proceed with your communication channels. 

Nevertheless, reflection is always a good thing, so ask yourself:

Your GTM strategy should be hyper-focused, comprehensive and versatile - in that alterations can be made based on company and, crucially, audience feedback. 

“Whoever understands the customer best wins.”

Steli Efti, CEO of Sales CRM at Close.com

Now that you have accurately made your journey through our 5 key steps, all you have left to do is monitor your GTM strategy, analyse the results and supervise any changes of your market segmentation. 

When it comes down to it, your GTM strategy is more than just a concept. It’s a strategic document, a director, that helps to guide and support your brand through these pivotal moments. It details how, why and when you will utilise your resources to reach your audience and deliver unique value to them, thus gaining an overall competitive market advantage. 

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