Are you talking to the wrong consumer? Without customer segmentation, you might be
In marketing, talking to the right consumers is essential for success. Whilst this is easy to say, in practice finding and defining the ‘right people’ is not so simple. Customer segmentation is a method of creating groups from your customers that contain certain similarities, to allow you to speak to each of them more effectively. Customers can be grouped according to certain transactional attributes, such as their engagement with your company, average basket value and the frequency that they place orders with your business. They can also be grouped by their geo-demographics, their lifestyle and their behaviours.
Without segmentation you can often feel like you are in the dark with only a one-size-fits-all strategy that may not be aimed at attracting the best consumer for your business. Segmentation is particularly effective when undertaking direct marketing; including mail shots, SMS campaigns and direct email marketing. To
Investing Blog Roundup: Year-End Tax Tips
Tis the season for year-end tax planning. The best collection of investment-related year-end tax tips that Ive seen this year is from Boglehead author Taylor Larimore (a former Internal Revenue Officer). He gets right to the point and covers several actions you can take to minimize your tax costs.
Investing Articles
Other Money-Related Articles
Thanks for reading!
Snow Removal Tips – Should I Shovel it, Blow it, or Have it Plowed?
Its that time of year again, my friends.
The time when those glorious white crystals fall from the sky. Ive always marveled at the fact that no two snowflakes are identical. I mean, how is that possible? And is that even true?
And as beautiful as some pure, driven snow can be, its a pain in the butt when you have a foot of it in your driveway and you have to drive to work. I wont even discuss the driving to work part. Thats a stress-or that is unfortunately part of life for Detroiters. If youve never driving for an hour and a half on a crowded freeway during a snowstorm (going 10 miles an hour at best), you havent really experienced life in the great white north. Thats just how it is a few times each year. Nothing we can do about it.
Automobile Industry in Recovery
Image by Hugo90 via Flickr
November may be an early Christmas present for automakers. Sales have shown strong signs of recovery since the recession began two years ago, rising 14 percent in November. Chrysler and Volkswagen were the clear winners with up to 45 percent of sales. However, Hyundai and Ford managed to score double digit gains in sales with 22 and 13 percent respectively. While sales are still not as high as they were prior to the recession, they are showing strong signs of recovery despite many households struggling financially.
Consumer Demand is Key
Retailers have worried about consumer demand since the recession started. If consumers have little money for necessities, how will they react when faced with high ticket items like new car purchases? I