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Approach
Vantage Point Segmentation provides more than just raw data or demographic information. The key to Vantage Point Segmentation is that it is predictive of revenue-driving behaviors, even before the behavior occurs. Furthermore, common needs across all Vantage Point segments identify “price-of-entry”/baseline requirements for customer satisfaction. The Vantage Point Segmentation approach is grounded in 5 principles that lead to success:
Highly differentiated: Segments must be highly differentiated from one another across a common set of variables.
Homogeneous: Within each segment, a homogeneous set of beliefs logically defines the segment and is tightly linked to behaviors.
Identifiable: A subset of variables must accurately and efficiently classify each consumer into the correct segment.
Clearly Defined: Each target segment’s underlying belief structure must be convertible into a compelling marketing strategy and set of tactics.
Stable: The segments are formed discretely by a stable set of variables so that each time a similar population is scored; there is no material change to segment incidences.
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Vantage Point Segmentation Execution:
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- A study is conducted via a detailed online survey that probes customers/prospects and their needs, attitudes and behaviors.
- The study is executed against both customers and prospects (if appropriate).
- Each respondent is led to an online survey tool and participates in the survey.
- The entire survey process is fielded and closed within two weeks.
- Respondents are offered notable incentives to complete the survey such as gift certificates.
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