How to Segment your Customers

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Segmentation is a way of grouping your customers, based on their shared characteristics and common needs. The most resource efficient way to service customer needs is to segment your customers. By grouping like customers together, you can service the needs of your market and focus on servicing the needs of groups of customers, rather than individuals. Let’s now look at how we set about segmenting our customers.
There are many ways to approach segmentation and you are in the best position to determine the segmentation criteria that are useful to your business. As well as determining which customers currently contribute the most to your profitability, you should also try to gauge which customers are likely to drive your future prosperity through their needs and priorities.
In this lesson, we will explore approaches to segmentation you can apply to your business.
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