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Approaching Psychographic Segmentation In B2B Marketing

As marketers and entrepreneurs, we sometimes get ourselves into a pickle trying to maximize conversion for every kind of customer. However, we all know that a better long-term strategy in converting more customers is to engage in practices of segmentation – like psychographic segmentation for instance.

Creating general campaigns usually works in the beginning; it helps set the standard for your selective segmentation as times goes by. It allows you to open new markets and identify potential customers for your business. This article aims to open new areas in segmenting your customers.

Instead of looking at income brackets, we will be looking at emotional factors that affect decisions and how we can group these factors proper in ensuring that conversion is highly likely.

 

The Importance of Segmentation

Businesses run on efficiencies and the more efficient the company, the better it is likely to perform. Segmentation allows you to focus your marketing resources on particular segments of your overall market that are more likely to buy from the company.

For instance, if you were to release an expensive line of your product – let’s say a more bespoke level of internet marketing services, it will generally appeal to parts of your market share that have a higher propensity to make money. It is also implied that those who make a smaller amount of money would not even consider these services.

However, how about if the real kicker in this product or service is the emotional appear for instance? Imagine that you can get any income bracket to purchase the upsell if it is packaged in a way that appeals to the emotions. For example, you can sell it as a product that safeguards their business’ success in the future. What sort of idealistic B2B client would not want that? That goes beyond income brackets.

 

B2B versus B2C Customers

B2B and B2C customers differ in a variety of ways, B2B relationships tend to last longer and create more repeat sales than B2C relations and, as a result, there is more focus on the relationship that you have.

B2B relationships tend to last longer and create more repeat sales than B2C relations

The personal relationship is one of the factors that drive the sales process. You are talking about complex products and services with real long-term purchase periods, and that is why there is a mix of different factors that drive the sale.

Also, there is the rationalization factor because B2B customers do not make impractical decisions compared to B2C customers that can make decisions due to impulses. However, this does not mean that there is no emotional component in B2B transactions, when in fact psychographic segmentation is partly the analysis of the emotions that could be associated in a B2B deal.

Related: The B2B Buying Process Has Changed: Here’s How Not to Get Left Behind

 

The Beauty of Psychographic Segmentation

Psychographic segmentation goes beyond the typical social and economic demographical factors that we have studied as marketers. It involves the careful analysis of the behavioral factors that influence a decision for a potential or current B2B – and B2C customer.

Psychographic segmentation looks at factors such as the emotional responses that cause a specific buyer from a particular demographic to make a buy decision towards your product or service. It involves data collection and fine tweaking particular campaigns to elicit certain emotional responses that could be highly beneficial to the company.

This is a more complicated process than trying to find out the geographical demographics of your customers because we are looking for emotional responses that we can quantify and use for our benefit.

Related: Industry Insights: How to Influence Today’s B2B FinTech Buyers

 

How do you go about Psychographic Segmentation?

In the example above we talked about a new product in an Internet marketing service that is priced higher than usual because of its custom/bespoke nature. However, we have failed to take into account another kind of customer there. How about those that do not fall into the same income bracket, but are willing to spend more on their Internet services depending on the emotional stimulus that you would attach to your campaign.

Psychographic segmentation involves a lot of data gathering with your current and potential customer base because you are trying to find that particular behavior that elicits a specific response. Also, we have to take into consideration that customers differ from one another, and what could work for some could be different for the next batch.

A useful way to go about this is to get your CRM software prepped and ready for your data. We are trying to analyze the personal and professional lives of your current and potential customers. We are looking at what makes them tick and what the factors that dominate their decision-making process are.

Related: Industry Insights: The 5 Types of Buyers You Meet in Cloud Selling

 

In reality, segmentation is more than how much money people have in the bank and how old they are. It is the process of analyzing emotions, responses, and behavior. This makes your marketing campaigns more effective and efficient.

 

Author Bio:

Rebecca Matias

Rebecca Matias is a Business Development Manager at Callbox. She is a proactive marketer who is willing to share her passion, leadership principles and craft in marketing. Follow Rebecca on Twitter, Facebook, and Google+.

 

 

Gain insight into information drawn from Callbox past campaigns

Try out our new My Industry Insights tool

My Industry Insights - Callbox Interactive Marketing Tool

Contact us 

or Dial 888.810.7464 | WhatsApp +65 8232 2417

 

 

Grab a copy of our FREE EBOOK, Targeted B2B Marketing: Guide, Checklists, and Worksheets! A comprehensive guide to targeted marketing to help organizations get in front of the right people at the right time through the right channels with the right message to influence a purchase.

Download Targeted B2B Marketing Guide, Checklists and Worksheets [Free eBook] CTA

Customer Profiling Checklist in Verifying Business Contacts

Customer Profiling Checklist in Verifying Business Contacts

Why it pays to profile your customer?

Every company tries to identify who to market their products before they decide on how to do it. What a better way to find out who your customers are is to have an Ideal Customer Profile. And the best way to market your product and reach your target audience better and faster, is to have an updated contacts. Better business decisions are crafted when you have good data as a basis.

Having an accurate and informative contact list before calling your prospects is one of the most powerful marketing tools in order to learn who the best person to speak with is.  An updated contacts require less effort for your sales team to call companies over and over again just to find out who makes the decisions within their organization.

The information that you need to collect depends on your type of business. Below are some of the essential information that you need to gather and verify when doing customer profiling.

Email address

The direct business email of your target contact. Prior to the start of the campaign, sending out an introductory email is important. It can be an easy access for you to be transferred and eventually speak with the decision maker without anyone blocking your call because it may sound like you’re following up a recent conversation.

TIP: There will be times wherein Receptionists  will provide a generic email. Make sure that your target contact will have access to the email address provided to you. As much as possible, gather a direct business email.

a) Direct Business Email The email address that they use for all business transactions.

Examples: hrmanager@xyzltd.com, erikag@xyzltd.com, egomez@xyz.com

b) Generic Email – Most of the target contacts don’t have access to this email.

Examples: info@xyzltd.com, xyzltd@xyzltd.com, mail@xyzltd.com

First and Last Name 

The complete name of your target contact to address the email properly. It’ll be easier for you to get hold of decision makers if you know their names since you won’t be doing prospecting anymore. Plus, Receptionists might think you know the decision maker personally and will transfer the call directly.

Job Title/ Position in the Company 

The correct job title of the contact person to address your target contact properly in the email. This is to make sure if you are targeting the right person based on his or her position in the company.

Direct line or ext number

The best number to reach your target contact without passing through the main number. Having a direct line or extension number of prospects will have a higher chance of getting hold of the decision makers.

Mobile Number

In case you can’t reach the prospect through their direct line, you can always call them on their mobile. Of course, you need to ask permission from your target contact if it’s okay for you to contact them through their mobile in case they’re not in the office.

Company Information

This includes the following:

a) Company Name – The updated name of the company.

b) Company Address – The correct physical address of the company.

c) Company website

TIP: Make sure to do your homework before calling companies for customer profiling. Company information should be done through research and not on the call.  It’s best that you know all the information about the company before calling so your Reps to sound legit and more professional over the phone.

Related: Callbox Data Profiling A Major Coup for Exhibition Leader

Qualifying questions

It is necessary to pre-qualify the company. Why? Calling the same company over and over again and finding out they are not a good fit for your business can be a bit frustrating. And pre-qualifying the company is one way of making sure you’re targeting the right audience. Some of the examples of a qualifying questions includes;

a) Number of employees

b) Annual Sales

c) Number of computers

d) Number of locations

e) Type of industry

Learn more about lead qualification services..

You can always gather all of these information from anyone within the company even if the target contact is not available. Also, you may check on these few resources in getting business list or contacts.

However, only information of the decision maker is considered valid. Here’s a sample script that your team can use when doing customer profiling.

customer profiling script - Callbox

 Related: Don’t Waste a Moment! See Sample Cold Calling Scripts For You

 

Avoid prospecting while doing cold calling. Increase your chances of getting hold of your target audience and get leads faster and easier with an updated contacts.

 

And Here’s Why you Should Be Updating your Marketing List!

Read more on The Problem with (and Solution to) Database Decay

 

Get more updated data for your marketing campaign and boost your sales!

Check out our Database Cleansing Services today! Dial 888.810.7464

 

Approaching Psychographic Segmentation In B2B Marketing

As marketers and entrepreneurs, we sometimes get ourselves into a pickle trying to maximize conversion for every kind of customer. However, we all know that a better long-term strategy in converting more customers is to engage in practices of segmentation – like psychographic segmentation for instance.

Creating general campaigns usually works in the beginning; it helps set the standard for your selective segmentation as times goes by. It allows you to open new markets and identify potential customers for your business. This article aims to open new areas in segmenting your customers.

Instead of looking at income brackets, we will be looking at emotional factors that affect decisions and how we can group these factors proper in ensuring that conversion is highly likely.

 

The Importance of Segmentation

Businesses run on efficiencies and the more efficient the company, the better it is likely to perform. Segmentation allows you to focus your marketing resources on particular segments of your overall market that are more likely to buy from the company.

For instance, if you were to release an expensive line of your product – let’s say a more bespoke level of internet marketing services, it will generally appeal to parts of your market share that have a higher propensity to make money. It is also implied that those who make a smaller amount of money would not even consider these services.

However, how about if the real kicker in this product or service is the emotional appear for instance? Imagine that you can get any income bracket to purchase the upsell if it is packaged in a way that appeals to the emotions. For example, you can sell it as a product that safeguards their business’ success in the future. What sort of idealistic B2B client would not want that? That goes beyond income brackets.

 

B2B versus B2C Customers

B2B and B2C customers differ in a variety of ways, B2B relationships tend to last longer and create more repeat sales than B2C relations and, as a result, there is more focus on the relationship that you have.

B2B relationships tend to last longer and create more repeat sales than B2C relations

The personal relationship is one of the factors that drive the sales process. You are talking about complex products and services with real long-term purchase periods, and that is why there is a mix of different factors that drive the sale.

Also, there is the rationalization factor because B2B customers do not make impractical decisions compared to B2C customers that can make decisions due to impulses. However, this does not mean that there is no emotional component in B2B transactions, when in fact psychographic segmentation is partly the analysis of the emotions that could be associated in a B2B deal.

Related: The B2B Buying Process Has Changed: Here’s How Not to Get Left Behind

 

The Beauty of Psychographic Segmentation

Psychographic segmentation goes beyond the typical social and economic demographical factors that we have studied as marketers. It involves the careful analysis of the behavioral factors that influence a decision for a potential or current B2B – and B2C customer.

Psychographic segmentation looks at factors such as the emotional responses that cause a specific buyer from a particular demographic to make a buy decision towards your product or service. It involves data collection and fine tweaking particular campaigns to elicit certain emotional responses that could be highly beneficial to the company.

This is a more complicated process than trying to find out the geographical demographics of your customers because we are looking for emotional responses that we can quantify and use for our benefit.

Related: Industry Insights: How to Influence Today’s B2B FinTech Buyers

 

How do you go about Psychographic Segmentation?

In the example above we talked about a new product in an Internet marketing service that is priced higher than usual because of its custom/bespoke nature. However, we have failed to take into account another kind of customer there. How about those that do not fall into the same income bracket, but are willing to spend more on their Internet services depending on the emotional stimulus that you would attach to your campaign.

Psychographic segmentation involves a lot of data gathering with your current and potential customer base because you are trying to find that particular behavior that elicits a specific response. Also, we have to take into consideration that customers differ from one another, and what could work for some could be different for the next batch.

A useful way to go about this is to get your CRM software prepped and ready for your data. We are trying to analyze the personal and professional lives of your current and potential customers. We are looking at what makes them tick and what the factors that dominate their decision-making process are.

Related: Industry Insights: The 5 Types of Buyers You Meet in Cloud Selling

 

In reality, segmentation is more than how much money people have in the bank and how old they are. It is the process of analyzing emotions, responses, and behavior. This makes your marketing campaigns more effective and efficient.

 

Author Bio:

Rebecca Matias

Rebecca Matias is a Business Development Manager at Callbox. She is a proactive marketer who is willing to share her passion, leadership principles and craft in marketing. Follow Rebecca on Twitter, Facebook, and Google+.

 

 

Gain insight into information drawn from Callbox past campaigns

Try out our new My Industry Insights tool

My Industry Insights - Callbox Interactive Marketing Tool

Contact us 

or Dial 888.810.7464 | WhatsApp +65 8232 2417

 

 

Grab a copy of our FREE EBOOK, Targeted B2B Marketing: Guide, Checklists, and Worksheets! A comprehensive guide to targeted marketing to help organizations get in front of the right people at the right time through the right channels with the right message to influence a purchase.

Download Targeted B2B Marketing Guide, Checklists and Worksheets [Free eBook] CTA

Customer Profiling Checklist in Verifying Business Contacts

Customer Profiling Checklist in Verifying Business Contacts

Why it pays to profile your customer?

Every company tries to identify who to market their products before they decide on how to do it. What a better way to find out who your customers are is to have an Ideal Customer Profile. And the best way to market your product and reach your target audience better and faster, is to have an updated contacts. Better business decisions are crafted when you have good data as a basis.

Having an accurate and informative contact list before calling your prospects is one of the most powerful marketing tools in order to learn who the best person to speak with is.  An updated contacts require less effort for your sales team to call companies over and over again just to find out who makes the decisions within their organization.

The information that you need to collect depends on your type of business. Below are some of the essential information that you need to gather and verify when doing customer profiling.

Email address

The direct business email of your target contact. Prior to the start of the campaign, sending out an introductory email is important. It can be an easy access for you to be transferred and eventually speak with the decision maker without anyone blocking your call because it may sound like you’re following up a recent conversation.

TIP: There will be times wherein Receptionists  will provide a generic email. Make sure that your target contact will have access to the email address provided to you. As much as possible, gather a direct business email.

a) Direct Business Email The email address that they use for all business transactions.

Examples: hrmanager@xyzltd.com, erikag@xyzltd.com, egomez@xyz.com

b) Generic Email – Most of the target contacts don’t have access to this email.

Examples: info@xyzltd.com, xyzltd@xyzltd.com, mail@xyzltd.com

First and Last Name 

The complete name of your target contact to address the email properly. It’ll be easier for you to get hold of decision makers if you know their names since you won’t be doing prospecting anymore. Plus, Receptionists might think you know the decision maker personally and will transfer the call directly.

Job Title/ Position in the Company 

The correct job title of the contact person to address your target contact properly in the email. This is to make sure if you are targeting the right person based on his or her position in the company.

Direct line or ext number

The best number to reach your target contact without passing through the main number. Having a direct line or extension number of prospects will have a higher chance of getting hold of the decision makers.

Mobile Number

In case you can’t reach the prospect through their direct line, you can always call them on their mobile. Of course, you need to ask permission from your target contact if it’s okay for you to contact them through their mobile in case they’re not in the office.

Company Information

This includes the following:

a) Company Name – The updated name of the company.

b) Company Address – The correct physical address of the company.

c) Company website

TIP: Make sure to do your homework before calling companies for customer profiling. Company information should be done through research and not on the call.  It’s best that you know all the information about the company before calling so your Reps to sound legit and more professional over the phone.

Related: Callbox Data Profiling A Major Coup for Exhibition Leader

Qualifying questions

It is necessary to pre-qualify the company. Why? Calling the same company over and over again and finding out they are not a good fit for your business can be a bit frustrating. And pre-qualifying the company is one way of making sure you’re targeting the right audience. Some of the examples of a qualifying questions includes;

a) Number of employees

b) Annual Sales

c) Number of computers

d) Number of locations

e) Type of industry

Learn more about lead qualification services..

You can always gather all of these information from anyone within the company even if the target contact is not available. Also, you may check on these few resources in getting business list or contacts.

However, only information of the decision maker is considered valid. Here’s a sample script that your team can use when doing customer profiling.

customer profiling script - Callbox

 Related: Don’t Waste a Moment! See Sample Cold Calling Scripts For You

 

Avoid prospecting while doing cold calling. Increase your chances of getting hold of your target audience and get leads faster and easier with an updated contacts.

 

And Here’s Why you Should Be Updating your Marketing List!

Read more on The Problem with (and Solution to) Database Decay

 

Get more updated data for your marketing campaign and boost your sales!

Check out our Database Cleansing Services today! Dial 888.810.7464

 

Getting the Gist of Effective Customer Profiling

Customer profiling isn’t a new concept. It has been in the vocabulary of every B2B marketer for a while now and nearly everyone has understood its importance in making successful sales closes.

Right now, anyone can tell you that data profiling plays an intrinsic role in B2B lead generation and appointment setting. To get a basic view of how valuable it is, we will have to outline its four essential functions:

As a window into your target’s mind.

Salesforce has defined data profiling as a process of getting into the minds of one’s target audience. For sure, you wouldn’t be able to create effective messages if you rely on superficial data about the people you want to convert into paying customers. According to the Daily Egg’s Marcia Yudkin, initiating an engagement with a target client has to involve emphasizing current and urgent needs. Customer profiling allows you to identify the kinds of messages that a particular client demographic wants to hear for it to make a crucial engagement.

Related Post: Poor Conversions? Better Use Progressive Profiling

As a lead filtration system.

Not everyone in your lead management database will end up actually buying something from you. However, you can increase the volume of your sales-ready leads by locating people that match your ideal client specifications.

Related Post: Lead Nurturing Done Right: Introducing Callbox Pipeline’s Lead Nurture Tool

As a means for acquiring market intelligence.

Acquiring a bigger market share involves taking a step ahead of your competitors. To do this, you will need to understand how your audience currently behaves by simply observing their online interactions. For the Harvard Business Review, it is about obtaining and consolidating “siloes” of data about your prospects based on:

  • What they’re saying.
  • What they’re buying.
  • What they’re doing.
  • What they’re liking.

This way, you are able to create messages that resonate well with their preferences. Not only that, it also allows for building long-term relationships with clients as well as provide your brand a needed boost in its appeal.

As a way to update your database.

Old data can be a hindrance to obtaining high-value opportunities. Data profiling can help you dust off obsolete and inconsistent records that would otherwise entail a waste of time and effort and, in effect, increase sales efficiency.

A manufacturer of printing products once contacted Callbox to help in updating its contact lists. Using its data cleansing and verification service, Callbox mobilized its researchers to reach out with the client’s contacts, update obsolete data, and replenish the list with fresh batches of decision-makers straight from Callbox’s own global database. More details about the campaign in this case study.

 

Improve sales by employing customer profiling services and getting qualified business contacts , contact us!

 

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