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Sep. 11, 2023 Source: Avant Marketing Group news release Most successful marketers understand the importance of market segmentation to direct an efficient and effective marketing plan. By understanding your key segments, their attitudes, perceptions, and buyer values, you can craft customized marketing messages that can be highly targeted to each segment. Avant Marketing Group utilizes its DABT Model for market segmentation. The model focuses on defining the Demographic, Attitudinal, Behavioral and Transactional characteristics of customers for your brand or product category. In terms of farmer segmentation, two key characteristics that we find are consistent in differentiating segments are Adoption and Risk Management that sometimes go together. Let me provide you with an example.
You have found two different customer types for your product. John Smith and Paul Johnson represent those two customer types. Here is the demographic profile for each: At first glance, there seems to be little in common between John and Paul. Though they both are loyal customers, their profile and operations are quite different. So, what attitudinal or behavioral characteristics bring them together to define your customer segment? John Smith is a very successful third generation Iowa farmer. He has two sons working in the operation and is looking forward to turning the farm over to them. In terms of financial management, he is somewhat conservative but knows that the operation needs to keep up with advances in farm practices and technology. Therefore, he is willing to try new concepts - not on the entire operation but willing to allocate new practices to a small percentage of crop acreage each year for trial. Though he may be viewed as slow in making key changes, he is an early adopter of new products and technology. Paul Johnson has been farming for 10 years. He began his operation on 40 acres and has expanded his operation with increased strawberry acreage. He is proud of adopting new practices and sees change as the way to profitability. Though highly leveraged, he is willing to take the risk of improving the efficiency of his operation through innovation investment. He truly sees himself as the farmer of the future. Both John and Paul can be considered Early Adopters. Yet putting them into the same customer segment may ignore their key differentiating characteristic - Risk Adversity. While both customers are willing to adopt new products and technology, John is a good manager of risk and doesn't "bet the farm" on farm practice changes. On the other hand, Paul is much more of a "gambler" that is willing to maintain a high level of risk as part of his progressive attitude. While these attitudinal and behavioral characteristics might seem minor, they are significant when it comes to marketing communications. To be effective, the messaging must be customized to each of these customer types so that it truly resonates with each of them. For more information about Market Segmentation, contact the Avant Marketing Group or visit: www.avantmarketing.com. Tweet |
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