Market Segmentation Blog

Gaining A Deeper Knowledge of the Segments

In order to name the segments, you must know who they are. Diving into the research to learn their personality, needs, wants, goals, and pain points will add much more depth to the names you come up with. Their name should tell a quick story of who the segment is and what they mean to your company.

Creating Ownership of the Segments

By knowing the segments deeply and naming them, a sense of ownership develops. This is important among company leaders as this can lead to action—identifying target customers, marketing directly to segments, innovation of new products, and ideation around segment needs. Too often, companies shelve their segmentation; a sense of ownership can combat that.

Creating Excitement About the Segments

The act of learning and naming the segments can create excitement about them too. Excitement is another important steppingstone to eliciting action. The more excited leaders are about the segments, the more likely this feeling will trickle down to subordinates and the less likely the segmentation will sit on a shelf unused.

Customize Names According to Company Culture

While names created by the researchers may be descriptive, clever, and generally good, they are not necessarily geared towards the nuances of your company. You know your company and your category the best. When the company takes ownership of naming the segments, company culture, expectations, and company lingo can be included in the naming convention. For example, Harry the Hard Worker may not mean much to folks outside of the organization but within your company, Harry the Hard Worker might signify a predominantly male segment who works 10 plus hours a day, who uses more gear than the other segments, who needs 24/7 tech support, and is someone who your company regularly identifies as your core customer. Names that embody the segment personality and that allow folks to quickly remember who each of the segments are, will be beneficial in the long run.