This was only a two week short course, but the same provider is running a number of other free courses via Future Learn that I will be looking at! Though I only ended up writing a small amount of notes, it was still a great, quick way to keep myself refreshed on marketing and research techniques, some of which I might need to use in my job very soon.
Week two: Segmentation
This is splitting your followers into groups according to their behaviours and preferences in order to market the right products to them.
In order to build these segments and to analyse whether they are working for you, you have to build context into your data, by creating both internal and external benchmarks, so you can compare your current success both to previous data and to the success other your competitors.
- Missions statements, a successful company generally has a customer-oriented one
- A strategy should be focussed on the specifics of the business and what makes it unique
- KPIs need to be tangible measurements and numbers, relevant to your strategy
- Once you know how a customer came to your company (via an offer, website etc) you can start to build a profile and segment your demographics
There will always be challenges in acquiring data – some of it may be incomplete or wrong, so try to focus on the overall pattern and what it tells you.