Are You Using List Segments?
April 25th, 2024 by Diane Conklin under Business - General, Business Strategy. No Comments.
One day last week, in a marketing group, somebody asked if it was necessary to have an “Ideal Client Profile” for each list you’re targeting. They were asking specifically whether you needed a separate list for prospects and current clients.
The answer is yes…
You need to know who your target is for each and every thing you do.
And… the question behind the question (or the one that should have been asked) was about list segmentation – or maybe that’s what they meant in the first place.
List segmentation is often overlooked, yet powerful, part of marketing and business.
Segmenting is always a great way to market your products and services. And it’s an underutilized strategy because you get lazy and just market to your whole list.
When you know who’s on your list, who’s bought what, when and how much they’ve invested (as a start) then you can make smarter decisions about who should see your offer. This will increase your conversions and reduce list fatigue.
Another important and often forgotten marketing strategy that will pay huge benefits is having your list profiled.
You might think you know who’s on your list.
But… what do you really know about them?
Every time a client has their list profiled it reveals something we didn’t know – and wouldn’t have suspected – about their list.
One list of doctors when profiled revealed that those who owned boats spent 80% more money every year than doctors without boats (this allowed us to purchase lists of doctors with boats for years).
A famous and well-known author in the finance industry I worked with discovered that families with four or more children living at home invested 60% more than families with no children and 40% than others with one or two children. (We segmented her list accordingly and purchased lists and watched her profits soar).
A real estate investor, who thought he knew all about his list and put off profiling his list for years, came to a mastermind meeting a couple years ago with egg on his face for all the things he was surprised by after finally profiling his list. And wishing he had done it the first time it was suggested.
What are the little things you can and should be doing that you’re just not taking the extra time to do that’s costing you money – in the short and long term?
To Your Success –
