Using psychographics to segment your market [Editor's Addendum - This is the second of our series covering different ways to segment your target market. See our post on demographics here.]
This is exactly what psychographic targeting is all about - entering the mind of a prospect / customer / consumer. If you are able to get into their life and mind, you can unlock buying motivations that you may not have otherwise realized were there. Below are a couple ways to think (pun intended) about psychographics:
Fortunately, Cidewalk can help eliminate some of the stress that comes along with running a campaign. Check out these tips for how you can tip the election in your favor:
How to calculate lifetime value
However, not everyone has the same affection for algebra, trigonometry, and abacuses as I do. For them, calculating something like how much you can expect a customer to spend at your business (over a set period of time, not just once) can be daunting. Depending on how many layers you want to add, calculating the lifetime value (LTV) of a customer can be admittedly daunting. Depending on how many layers you want to put on the calculation, it can admittedly be daunting. However, it be a great tool as it can tell you how much to spend on customer acquisition, whether you should boost your retention efforts, or if your margins are too low.
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