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Why segmenting your company’s database will save you costs?

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Why segmenting your company’s database will save you costs?

Delivering the right message, at the right time and to the right person is not an easy task, but if there is something fundamental to achieve it, it is a good segmentation of your company’s database . Do you want to know how it is achieved and what are the keys to doing it in the most effective way? In this USA Phone Number List I show you how to segment your database and how this practice will save you costs. We started! list_altIndex of contents
What is segmentation?
How to start segmenting your company’s database?
5 savings points thanks to segmentation
What is segmentation?
The starting point is to understand that not all contacts are the same or have the same needs , so doing the same marketing actions for everyone is not a recommended practice. In fact, the data speaks for itself: 91% of consumers tend to buy from brands that offer personalized content and recommendations (Accenture), 90% of consumers are willing to share personal and behavioral data in exchange for a more personalized experience (SmarterHQ) and 71% of consumers are frustrated when a shopping experience is impersonal (Segment).

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It is clear, then, that contact segmentation and content personalization are no longer an option, but a necessity. The good news? Working with your company’s database in this sense will allow you to save costs, optimize the results of your campaigns and improve the reputation of your USA Phone Number List . Thus, segmenting a database consists of grouping contacts according to certain common characteristics , whether demographic, psychographic or behavioral. The objective is to be able to create a personalized strategy that allows optimizing the results. Do you like what you are reading? Subscribe to the blog!
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How to start segmenting your company’s database?
The theory is fine, but the question will probably come up: “Where do I start?” Well, here are 5 steps that will allow you to successfully start the segmentation of your company’s database :Detect what information from your contacts you need to be able to sell effectively and how you can obtain it.
Think about how to categorize the information you have collected . Some basic options are: industry, location and language, company size, gender or age.
Perform A / B tests that allow you to determine which format or content helps you the most to achieve your goals .
Choose a tool to work with that allows you to program, collect and analyze the information in a way that is useful for your company.
Monitor the results and learn to interpret them to detect opportunities. It may also be a good time to refine the segmentation criteria and start segmenting based on behavior (purchases, downloads, opening emails …).
After these steps you can start to benefit from the advantages of segmentation :You will get to know your contacts better.
You will be able to customize actions and create the ideal content to nurture them.
You will detect your best customers.
You will improve the user experience.
You will optimize the results of your campaigns.
And, of course, you will save costs.
[Free PDF] Differences and advantages of generating your own records compared to buying databases

5 savings points thanks to segmentation
1. Choice of channels
Marketers estimate that they waste 26% of their budget on the wrong channels , according to a survey by Rakuten Marketing . No matter how high or low your budget is, this is too much of a waste! And more considering that it can be avoided.To do this, the first thing to be clear about is that not all contacts want to know about your brand through all the channels in which you are present, they do not even interact in the same way with all of them. For this reason, it is vital to know how to select the appropriate channel for each of your audience groups based on their behavior.For example, knowing that more than 90% of B2B companies prefer LinkedIn for product marketing, if you are offering corporate software it makes sense to focus your efforts on this channel and not invest proportionally in other social networks where the quality impacts will be practically nonexistent.This practice will save you from many impacts falling on deaf ears or even damaging your reputation by delivering content to the user that is not relevant to them or that they have already received through another channel to which they are more related. In addition, you will see how the conversion rates increase substantially and, in turn, you will have a budget available to invest in other actions. All are advantages.

2. Email marketing
Although the email marketing has established itself as a low – cost channel, the mass mailings are usually paid a CPM (cost per thousand shipments). By segmenting your company’s database and sending to defined audiences, you will reduce these costs while your impacts will be much more effective.However, that will not be the only advantage, since avoiding mass emails will allow you to take care of your database and reduce unsubscriptions and the feeling of frustration of contacts when receiving content that is not useful to them. With all this, you will improve your user experience with the brand.3. Online advertising
The online advertising inbound is a very useful tool to improve the quality of our records, but may also be a bottomless pit marketing budget if you are not well segmented database of your company.To avoid wasting budget in this area, it will be very useful to apply the audience suppression technique , which consists of eliminating certain types of contacts from the audience to whom the campaigns are directed based on segmentation.Let’s see some simple actions to execute, but that are very effective:Remove recent buyers from product or service adsA contact who has recently made the transaction of the product or service that you promote already knows your brand and your specific offer, therefore, impacting him again will not be useful . Take advantage of that budget to impact contacts who have not yet made the purchase or do not know the offer: your chances of attracting new customers will skyrocket.

Forget about low value-added contacts
Pareto’s theory suggests that approximately 80% of the company’s revenue comes from 20% of its customer base, while the remaining 20% ​​comes from low value-added customers. Knowing that resources are limited, it will be much more profitable to allocate them to those that are of high added value .New Call-to-action
Exclude existing customers from “lookalike” audiences
An advanced audience targeting strategy is the generation of lookalike audiences, that is, audiences similar to the users of a previously defined segmentation that we are interested in targeting, such as the highest-value customers.For example, if we know that those who spend the most on our product are middle-aged women with a high level of education in Spain, it makes sense to try to get an audience of people with these characteristics to maximize the effectiveness of the campaign .Where is the problem? The lookalike audience will also include existing customers . Without an effective suppression list, ad spend will be wasted on customers who already make frequent, high-value purchases on their own. Segmenting your company’s database will allow you to have customers identified and be able to discard them from this type of audience.Remove lost customers from your campaign audiences
Having a segmented database that allows you to analyze the behavior of the different types of customers is essential to detect lost customers, that is, those who have been exhausted or who are unlikely to buy again. Removing them from the audience you are targeting in your online advertising campaign will allow you to spend the budget on customers with a higher probability of making the final transaction.4. Customer acquisition and loyalty
Did you know that getting a new customer is up to 7 times more expensive than building an existing customer’s loyalty, and that recurring customers spend on average 31% more on each transaction than a new customer on their first purchase? And not only that, but these types of customers tend to become evangelists , that is, customers truly satisfied with your product or service who act as ambassadors for it, recommending it to their environment. In addition, having loyal customers is an indicator of authority , which improves brand reputation.

This being the case, it seems to make a lot of sense to invest in customer loyalty , and segmentation plays an essential role in this process, since it allows avoiding impacting existing customers with content that, due to the stage they are in, already it is not in your interest . For example, presenting the brand and impacting them with messages that are relevant to them, such as loyalty plans, the presentation of new products or cross-selling options. In this phase, personalization is more important than ever.

5. Time
Another advantage of a good segmentation is that it will allow you to save time, and time ends up being translated into money.

In strategic terms, having your company’s database segmented will allow you to more easily design the different strategic actions , by knowing in detail the characteristics and needs of the different types of audience you are going to address. Consequently, you will execute them in the way that your contacts expect and their effectiveness will be greater.

In terms of execution, correct segmentation will allow you to automate a large number of recurring actions that tend to consume a lot of time, such as sending emails. You will be able to create custom templates and develop workflows, which will save you dedication and allow you to further personalize your communications.

Ultimately, thanks to having identified the different types of contacts, you will be able to analyze the data and results of the actions in a faster and more exhaustive way, which, in turn, will allow you to obtain valuable insights that will help to improve the strategy.

I hope these tips on how to segment your business database have been helpful to you. Do you have any questions or curiosity that you would like to solve? Let me know in the comments!

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