Uncovering Four Myths About Audience Segmentation

• Almost 29% of marketers fail to meet their goals for new customer acquisition or customer retention
• The amount of data created by consumers doubles every two years, but 99% of new data is never used, analyzed or transformed
• The treatment of each channel separately and the prevalence of third party data are two of the main myths associated with audience segmentation

With more than 43 million euros spent on Big Data and advanced analytics according to the report, the future of audience segmentation is increasingly oriented towards the use of data for the perfection of advertising campaigns. The application of analytics allows better segmentation by brands, which must be able to know in depth the needs, tastes and preferences of their consumers, beyond mere knowledge based on assumptions and age ranges.

Obtaining this type of more detailed information requires, among other things, an investment in technology and, according to Salesforce data , only 22% of marketing teams believe that their technology equipment is extremely effective in delivering a complete view of your customer data. Currently, when segmenting audiences, traditional techniques converge with new trends, more oriented to the use of technology. This union, sometimes, means that the best formula to optimally reach the target audience of each brand is not always entirely clear.

Myth 1: All You Have To Do Is Create A Buyer Persona

A recent Gartner study has revealed that nearly 29% of marketing professionals fail to meet their goals for new customer acquisition or customer retention. This is because on many occasions professionals create a buyer persona or an estimate of their target audience instead of trying to get to know their clients in depth. Although the creation of a buyer person can help when developing a marketing strategy, the use of data analysis is key in current digital campaigns, in which you can know in depth the customer, their tastes, interests and preferences .

This data will help to better segment audiences since they allow to reach more specific target audiences than a mere approximation, being the most effective and efficient marketing campaigns.

Myth 2: New Technologies Such As Artificial Intelligence Do Not Help In The Segmentation Of Audiences

New technologies are applicable and scalable to practically any business area. The implementation of technologies such as Artificial Intelligence (AI) to the segmentation of audiences can be differential since it helps to automate processes and learns from the databases collected by the company to offer new ways in which to impact potential customers . This is supported by a recent study, which reveals that the implementation of artificial intelligence in audience segmentation is being one of the main objectives of marketing departments in companies.

The application of technologies such as AI can help to obtain a greater knowledge of the needs of the audiences, giving the ability to predict and develop completely personalized actions that will cause a greater impact on the recipient, based on the behaviors and interests of a specific audience. they want to reach.

Myth 3: Each Channel Of Information Should Be Treated Separately

The development of new technologies implies the creation of new communication channels between the company and the client and therefore a greater number of points of contact between both. An enormous amount of information can be extracted from each of them. In fact, according to the MIT Technology Review, the amount of data created by consumers doubles every two years, but 99% of new data is never used, analyzed, or transformed . Despite separate channels and data, the true differential value is in converting those first party data into zero party data, enriching them with information from other channels.

So important is data integration, that according to the State of Marketing report At Salesforce, marketers use data from an average of 15 sources, a 25% increase from the previous year. That is why, when segmenting audiences and knowing customers better, companies must not only collect information from channels and points of contact with the customer, but also must be able to analyze and integrate customer data. each channel to know the behaviors of your customers even better and thus maximize and improve subsequent marketing campaigns.

Myth 4: Third Party Data Is The Main Source For Obtaining Data

Historically, third party data has been of great help to those companies that could not afford a data collection system. But the evolution of technologies has changed this paradigm and practically every company generates information about its customers by itself, that is, companies are able to obtain first-hand data, which is more reliable and of higher quality.

Also Read: Machine Learning: The Essence Of Artificial Intelligence