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Recently there has been a great deal of controversy in the world of marketing as to whether segmentation is more effective than hyper-personalization in marketing strategies and even if there is a need for one or the other. Here, Justin Cobb examines both strategies and then looks at the fact that actually there is a very real place for both in marketing because both strategies answer very real needs in today’s marketplace.
“What many people fail to realize is that segmentation is like a prelude to personalization. This is where marketers research given segments within the population to identify trends,” Justin Cobb explains. “Once it has been determined what groups within the population are buying specific products and services, a marketer can then begin personalizing an advertising campaign to target specific individuals. Or in other words, segmentation leads to personalizing adverts that have the ultimate aim of making a sale. The bottom line is the return on an advertising investment (ROI) and that would be what is accomplished through hyper-personalization.”
Justin Cobb wonders why so many industry ‘experts’ believe that these are opposing strategies. Since it is first necessary to look at the broad picture before getting down to personalizing adverts, there should be no discussion here. “When we take products to market for our clients we first need to research which markets have the greatest need or desire for what our clients are selling, then and only then can we begin talking to individuals about what it is they want and need. It would be futile to ask marketers to host a live event in a market where specific products aren’t moving. Rather, I advise them to look at statistics before booking a venue.”
As one of the world’s leading marketing entrepreneurs, Justin Cobb understands the importance of segmenting a market in order to reach those who are open to dialogue. It is through engagement that marketers are able to build brand and sell products and if there is no interest there certainly would be no communications. Marketing is all about customizing sales to the demographics of the area and that is what segmentation is all about.
There probably won’t be an end at any time in the near future over the current debate on segmentation vs personalization, but Justin recognizes that both are important, both play a vital role in growing his clients’ bottom lines and both are certainly here to stay. “Why not recognize their roles for what they are and be done with it?” he asks. “Use the data derived from segmenting the market to personalize targeted ads that sell.” A very good question, Justin Cobb. We’re glad you asked.