Marketing is a lot like fishing. Hopefully prospective customers have a more positive experience than a captured trout. But similarities certainly exist between angling for fish and angling for leads:
Of course, some marketers prefer to do their fishing a bit differently. Instead of baiting a hook to catch a specific kind of fish, they rely on nets. By casting a wide net over a large area of water, they’re able to drag a much larger selection of possible leads back onto the boat.
Unfortunately, along with the valuable prospects that are likely to convert, these marketers also spend their energy dragging in plenty of less-interested buyers as well. Once the good leads have been separated out from all the rest, marketers may find that they’re expending a lot of effort for very little reward. After all, there are a lot of fish in the sea, but most of them aren’t the prize catch.
A wide net isn’t necessarily a bad thing, but to really ensure that you’re getting the most out of your marketing efforts, you need to target your customers more specifically. For that, you need to consider your approach to market segmentation.
Market segmentation is a technique used to enable a business to better target its products or services to the right customer. It’s the marketing equivalent of fly fishing — you gather data to the point where you know exactly what kind of campaign your target lead is going to be most interested in.
To do this, you must identify the specific needs and wants of customer groups and use those insights to provide products and services that meet those customer needs. Used well, market segmentation makes it possible for you to market the right products to the right audience, no matter who that audience may be.
Of course, if you trade the imprecise wide range of the net approach for a highly targeted process that only reaches a single lead, then you’re not much better off. Therefore, the key to effective market segmentation is to reach a large number of prospects, and to have each prospect feel as though they are being addressed personally. That way, you get the range of the net with the precision of the hook. To do that, you need the right tools.
Providing 1-to-1 marketing journeys for each and every qualified lead may seem like an exercise in futility, but the truth is that it’s not only possible, it’s quickly becoming expected.
According to the fourth annual “State of Marketing” report, 60% of B2B marketers say they’ve been more focused on improving audience segmentation and personas over the past 18 months. Additionally, 52% of consumers are likely to switch brands if a company doesn’t make an effort to personalize its communications to them.
The solution, then, is to rely on advanced CRM-enhanced technology to capture, analyze, and recall essential customer data. With that data as part of the marketing tackle box, and with each individual piece of contact information kept organized and available on a reliable data platform, marketers can give leads the personal attention they deserve, and do so across as wide an audience as necessary.
Here are some of the specific features that make this possible:
There may always be commonalities between marketing and fishing. However, while fishermen need to make the choice between the precision of the baited hook and the wide range of the net, marketers get to enjoy the advantages of both. With the help of cloud-based, CRM-enhanced marketing platforms, marketers can segment their audience based on reliable, actionable data insights, and then employ advanced automation technologies to give every audience member a hyperpersonalized marketing experience.
Market segmentation gives you the power to market to all of the fish in the sea, and to do so in a way that is targeted, precise, and effective. Check out Salesforce Marketing Cloud today and see for yourself how effective segmented marketing can be.