Basic Marketing Principles: Lead Segmentation
I have a friend with a dangerous list obsession. He makes lists for everything and anything. What to wear and when to eat, people to talk too, and more importantly not to talk with. #badvibes
Businesses are similar. The sales team wants to talk with interested buyers, or more importantly, people actively (thinking and talking about) shopping for what we sell. Time is money. Every second a human being on the sales team communicates with a potential client could be allocated to another with a higher probability of conversion. We help companies use technology to make this happen, and it uses segmentation.
Segmentation is automatically chooses which prospects have a higher buy probability than others based on whatever we want. Note, nothing's perfect (except numbers). Take designer clothes or chartering private jets for example. If someone buys them and wears them, the probability of having money for anything else is low. The point is exceptions exist, and so does common sense in marketing.
We can code any property of a human.
Where one attends high school is a simple, yet interesting example of a powerful variable. Do you think we can infer more variables from an individuals high school Alma mater? If you're interested in this science, I recommend checking out Freakonomics, it's a book and a podcast. I felt my perspective on data changed every chapter.
Segmentation requires data subjectivity. In a way, we use segmentation as a way to not talk to someone. If a prospects' website doesn't have the traffic needed to produce a high enough level of profit, then we can predict they don't have the revenue to support purchasing from you (our client). Why spend human time right now on that lead? We can automate the communication based off their wants, needs and engagement and reach out to them when the time is right.
This isn't meant to be some big news flash. Why do you think every time you're thinking about something it magically appears?
Truly focus on where you can offer the most value for the most profit, and go on, get after it.
The world is Us..