760% increase with Segment Marketing in 2020

"One size doesn't fit all" but you already know that. Segmentation has been around since the early days of trade. Here are the top trends you need to pay attention to in 2020.

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Marketers have been mulling to find the best way to categorize their audiences. While this increases complexity, going the extra mile surely pays off.

Email marketers have found a 760% revenue increase in campaigns that were segmented.

Email marketers have found a 760% revenue increase in campaigns that were segmented.

So ask yourself, "Has by product, service, or brand reached it's segmentation potential yet?"

With new factors at play with disruptive technologies, growing customer demands, or big data, to start ahead of the curve, you need to constantly learn how to build your segmentation strategy and evolve.

According to Business.com, here are the top five market segmentation trends for 2020 to help you stay ahead of the curve.

1. Data is the oil of our time. You know that but are you doing enough?

Data on your consumers and client preferences with capabilities such as chatbots, messengers, forms, website interactions, and the untapped potential of UTM parameters help you understand your data better.

Your data points can be leveraged to interpret where a customer profile with a lead.

2020 is the year for cookies (the non-edible kind). Do not be surprised to see brands utilize them to go beyond first-party data.

GDPR will maintain its importance. The right to be forgotten – applied in EU countries is one of the rules worthy of particular attention. It states that a brand can't store customer's data without a legitimate reason. So what that means is that while brands are sitting on data (oil of 2020), if kept idle might need to be deleted to comply with the law. So have you planned your marketing calendar yet?

2. Smart insights for refined customer segments

Smart insights coming from multiple sources will be complimentary for event / data-driven marketing: one-on-one, real-time campaigns that deliver relevant content relevant at the right place and time in their buying journey is key. Understanding behavioral data may (actually will) also present as an advantage for lead scoring.

3. Dear <First Name> is NOT Hyper-personalization

Personalization has been and will always be a trending topic in marketing– and yet, it's grossly misunderstood. Brands who claim to be personalizing their content by do not go beyond "Dear <First Name>" are not sharing content relevant to customers' interests. PERIOD.

Some smart marketers approach their customers with behavioral data based on past activity to stay on top of mind for their customers over time. This also helps brands abandon the idea of increase marketing pressure and avoiding spam messages (in the minds of the reader)

While other smart marketers approach their email marketing with a content-driven focus. brands design email with custom fields that are personalized based on a customer profile. Especially for product launches, update and offers

4. New lines of thought

The sheer volume of data is increasing constantly, some brands are realizing that the idea of creating a "unique customer record" is simply unattainable with the dependency of multiple IT tools that need to be integrated. Instead, marketers today are focussing on the data that they can interpret because you may not always be able to match customer data to a specific individual. Marketers who realize that they don't need the entire picture of a customer for effective marketing will be able to carry out more flexible campaigns (without the complexities of a CDP).

5. Segmentation in the hands of marketers

With the dependency of tools increasing at an exponential rate. Marketers need to upskill themselves to work them as the tools require solid knowledge to use. Learning how to connect the dots with these tools to get the full picture will continue to present a major advantage.

Despite the dependency of hard IT knowledge, this enables marketers to make smarter choices. It is exciting to see new exciting concepts shaking up the ways marketers approach segmentation but don't just stick to passive observation. By looking at how to incorporate these trends into your own operations, you can ensure that your marketers are well equipped to deliver strategies worthy of the upcoming decade.

However, simplifying the processes will be the key to future success. (Note to marketing tool creators :) )

Thank you

Yogesh Babu

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