Use Market Segmentation to Build a Stronger Print and Mail Customer Base
Rarely does one size fit all. This truth is especially meaningful as it relates to marketing and sales strategies. For print and mail shops seeking to develop more long-term customers, expand their general client base or distinguish themselves from the competition, market segmentation delivers great results.
What is Market Segmentation?
At its core, market segmentation is the recognition that not every client or target audience group has the same needs or responds to the same message. By tailoring marketing pieces to address specific preferences, job requirements, or price points, your sales will increase.
What does Market Segmentation Mean for Print and Mail Companies?
There are several ways to categorize, or segment, your customer base to improve marketing strategy effectiveness. Traditionally, market segmentation breaks down clientele by location, income, gender, age, marital status, purchasing habits, and preferred communication channels such as email, social media, etc. With print and mail, there are other options for segmentation that will deliver better results, such as:
- Length of Relationship. How you would market to someone who is coming in for a one-time project versus someone who wants to do a mailing month is very different. Your engagement strategies for these segments should target their specific needs and address their primary goals. For example, someone who has a one-time project is probably looking for a low price point whereas a business who needs ongoing print and mail services is looking for quality, excellent customer service, and reliability.
- Type of Services. Various customers need different services, whether it’s direct mailing, signage, POP/POS displays, labels, corrugated and flexible package printing, and more. Segmenting along service needs allows you to be specific in your marketing regarding what you provide in each area.
- Seasonal Needs. Many print and mail customers only use these services for seasonal jobs and when you segment this group out, you can offer incentives to place orders earlier, which can help avoid scheduling, staffing and deadline challenges that often arise during these peak times.
The key is to determine which market segments are worth targeting. If a segment has two clients, it is probably too small to separate from the pack, unless it is an area you wish to grow.
Why Bother with Market Segmentation?
There are significant benefits to segmenting your print and mail customers.
- Improve Customer Service. The deeper understanding you obtain from market segmentation allows you to directly address the needs and goals of your client, which increases their satisfaction.
- Increase Sales. The more targeted your marketing, the more effective it is, which will increase sales.
- Reduce Competition. Competitors who don’t understand the true needs of your targeted market segments will lose out to you every time.
- Increase Repeat Business. By demonstrating your understanding of your print and mail client segments, you create “sticky” relationships whereby your clients will return to you again and again.
- Identify Growth Opportunities. Through market segmentation, you will better know your customer base and identify unmet needs in your market. This information can inform your company’s strategic planning efforts.
Market segmentation is often used by print and mail customers to get the most bang for their marketing dollars, but few print and mail businesses use the same process. Segment your market to truly understand your customers’ needs and increase sales.