This recent blog article really struck a chord with me: Why Doesn’t My Market Segmentation Work?
The author makes some good points. I agree completely with them and want to go one step further.
I believe that customer segmentation often “does work” in that the answers you receive are completely, technically, correct. But in practice, it doesn’t work because while it is correct, there is often no way for the business to use the information generated.
Recently, we started working with a major financial services firm who had just completed a six month multi-hundred thousand dollar segmentation exercise. [Read more…]