Segmentation is a well-established practice that is incredibly valuable for identifying potential customers, understanding their preferences, and effectively targeting them with relevant messages. Target audiences are often segmented based on demographics, lifestyle, location, and purchase behavior. This segmentation informs a brand's communication strategies, pricing decisions, and customer engagement efforts. It is undeniable that segmentation plays a crucial role in enabling brands to design personalized messages and expand their customer base.
But, are numbers and metrics alone sufficient to establish genuine connections with your audience? Do they truly capture the whole truth?
It is easy enough to make marketing decisions based on demographics and big data. According to a Gartner study, 76 percent of businesses rely entirely on big data for their marketing strategy. And this reliance creates the necessity of consuming more and more data. But is this approach truly effective? Deep down, most companies understand that consumers prefer engaging with brands that they feel connected to on a deeper level. Donald Glaser, the winner of the 1960 Nobel Prize in physics, once said, "Physics is a wrong tool to describe living systems." We are not just numbers; we are largely unpredictable, emotional, and willful beings.
The problem with solely relying on surveys and data is that only quantitative data is obtained about the occurrence of emotions within the framework of specific questions, rather than in the broader context of real-life experiences. By excessively depending on data, there is a risk of overlooking human insights, emotions, attitudes, and feelings.
This could result in brands being statistically accurate but still missing out on the significant advantage of connecting with customers on a deeper level. The consequence is the creation of products, services, and messages that are not customer-centric and may not always align with their beliefs.
It’s a good idea to prioritize listening and incorporate what’s learned into internal and external communication strategies. By engaging in direct conversations with customers and building strong connections with them, all data and insights is wrapped in proper context. This approach helps in the development of more robust marketing plans that focus on long-term success rather than relying on short-term gains sourced from transient data.
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Bound creates connection through surfacing truths and building connection. A free 30-minute consultation provides everything we need to know to put together a plan for articulating your story in a way that is true to you and the promises you wish to make and keep with others. The ones that will help you forge deep relationships that serve the long term health of your endeavor.