Email marketing has long been considered King when it comes to B2B marketing. According to Imagination, email marketing is the third most popular marketing channel. And, Procurious found that 73% of millennials prefer to use email for business communication. So, it makes sense that marketers often prioritize it over other channels! But, it’s crucial to consider the changing landscape of email marketing, and of marketing altogether. With so much data at our fingertips, it is up to marketers to develop a personalized experience across all channels — and the benefits of implementing such a strategy are massive! It’s time to adopt segmentation throughout your entire marketing approach.
“Personalization – it is not about first/last name. It’s about relevant content.” – Dan Jak
Market segmentation can skyrocket business email campaigns. According to MailChimp, open rates are 14.32% higher in segmented email campaigns. And, click throughs are more than 100% higher. But it’s not just emails that segmentation can help take to the next level. Segmenting your audience can positively impact all your marketing channels and have an all-round incredible effect on your business. Behavioral segmentation is often favored for B2B organizations, especially as it has such a focus on the sale. Segmentation can help B2B marketers gain an understanding of their key decision makers. Getting to know how your buyers behave on the journey towards making a purchase is extremely valuable insight! It can help you make predictions and recommendations. Most importantly, you’ll be able to get the right product in front of the right person at the right time.
“Selling to people who actually want to hear from you is more effective than interrupting strangers who don’t” – Seth Godin
Customer segmentation is all about getting to know your audience. Once you know who they are, you can establish what they like. And, eventually, you’ll learn what they are like as buyers. With so many options, it has never been more important to meet the needs of your customers! If you are thinking of implementing a segmentation strategy, Webeo Futures can help! We have hordes of information — from the basics of what segmentation is, to an overview of which segmentation strategy could be most effective for your business. You’ll soon discover the myriad of benefits to your business! Behavioral segmentation works by dividing your audience based on their digital behavior. It predominantly splits customers based on one of the following variables:
- Purchase behavior
- Timing-based behavior
- Usage rate segmentation
- Loyalty status segmentation
- Benefits sought segmentation
It is a key step in the personalization journey and brings benefits to all your marketing efforts. Let’s start with at the beginning. Segmentation helps with personalized communications, which in turn improves relevance. According to an Epsilon study, Customers who click on recommendations have a 70% higher purchase rate! So, by segmenting your audience and feeding each segment relevant content, customers will likely spend more with you. This, in turn, will positively impact your conversion rate. In fact, Econsultancy found 93% of companies see an uplift in conversion rates as a result of website personalization. This is great news for your business as a whole! A positive conversion rate brings with it so many benefits — from lowering your cost per lead to boosting your SEO.
More click-throughs and purchases mean more sales. Marketers see an average increase of 20% in sales when using personalized web experiences, according to Smart Focus. So, it’s worth considering segmentation if you’re looking to boost your sales. It also helps tackle the age-old problem of proving strong return on investment. McKinsey research found that personalization can deliver five to eight times the ROI on marketing spend. There’s good news for customers, too! Not only does segmentation bring tons of benefits to marketers, salespeople and business, but it also improves customer experience. According to Evergage, 98% of marketers see personalization helps advance customer relationships. This helps with retention, loyalty, upselling, cross-selling and reputation! Phew — that’s a lot of rewards! So, as you can see, segmentation can boost a lot more than just your email marketing. Although, it does a stellar job of that, too!
As marketers, we focus a lot of effort driving prospects to the company website. But what happens once they get there? Segmented communications are great, but your website needs to match that quality. According to Evergage, 11.4% of customers feel frustrated when website content is not personalized. After spending valuable time and money leading prospects to your site — it seems a little behind the times to leave them to explore a one-size-fits-all website that may not meet their needs. Website personalization can save the day! Personalization software, like Webeo, creates bespoke customer experiences for website visitors. The appearance, language and greeting will alter based on the user’s IP address, providing the ultimate personalized marketing experience.