Consumer segmentation: Do you really know your customers?

Do you really know your customers? Or are you relying on the wrong intel for your target audience analysis? 

In this episode of Opportunity Minded, Jessica sits down with Jana Rude, senior insight manager at Euromonitor International, to help you improve your approach to consumer segmentation.  

You’ll discover when and why it’s important to revisit your consumer segments, how this process can directly impact your bottom line and the magic of blending different data for a fuller picture. Jana also shares real-world examples of how businesses should use data to create more effective strategies.  

And for a bit of fun, put your skills to the test with a quick quiz where Jana shares stats on two generations—think you can tell one cohort from the next? 

This episode is packed with practical insights and ideas to help business leaders unlock growth opportunities through smarter consumer segmentation. Tune in and take your understanding to the next level. 

Chapters

00:00:00 – Introduction 

00:00:35 – Personal anecdotes on consumer segmentation  

00:03:00 – Importance of data-backed consumer segmentation   

00:03:31 – Defining consumer segmentation   

00:05:07 – Differences between consumer segmentation and audience segmentation   

00:06:50 – Building a consumer segment: Types of data   

00:08:00 – Data sources for consumer segmentation   

00:09:01 – Business impact of consumer segmentation   

00:10:12 – Timing for reviewing consumer segments   

00:12:02 – Using Euromonitor’s Passport for consumer insights   

00:13:01 – Warnings and pitfalls in consumer segmentation   

00:14:09 – Importance of big picture data   

00:15:24 – Diversity in data sources   

00:16:19 – Practical scenarios for consumer segmentation   

00:17:00 – Scenario 1: Retailer aligning inventory and marketing   

00:18:52 – Scenario 2: Car manufacturer targeting middle class in emerging economies   

00:20:57 – Scenario 3: Beverage company and regulatory changes, such as tariffs 

00:22:22 – Quiz segment: Guess the generation 

00:30:11 – Final advice on consumer segmentation   

00:31:11 – Conclusion and where to find more information 

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