Segmentation in action
Take our quiz to find out which financial segment you fall into!
Everyone treats finances differently; for some of us, they’re easy to manage and something we don’t worry about very often, but for others they can be harder or even overwhelming to think about. To demonstrate how segmentation can be used for marketing and business planning, we’ve created a set of financial personas to represent the different types of financial consumer in the UK. Using data from a nationally representative sample of 10,000 people across the UK, we’ve segmented using a mixture of needs, attitudes, motivations and barriers.
Once the segments were created, we developed a short quiz using our ‘Golden Questions’ that allow you to quickly be placed into a segment. This is particularly useful for clients looking to segment new customers on the fly, as they join they CRM database.
You just need to answer 6 short questions to find out which financial profile you belong too.
Take the quiz now and see which segment you fall into!
Understanding & appealing to the different segments
By segmenting consumer groups in this way, we can understand their needs, barriers and motivations – and importantly, how to appeal to them.
In this example, it’s clear that while all of our segments may be seeking financial advice, they are in very different financial positions, and they approach their finances in different ways.
By understanding target audiences beyond purely demographics, we can build tools and messaging specifically designed to reach the right people, with the right messages. These insights can be used for both attracting new customers, as well as for serving current customers better.
When used effectively, segmentation can propel business growth by ensuring the company is focusing on the consumer segments that will bring them the most value, and aligning their proposition to meet their needs.
To find out more about how we use segmentation to drive business growth, please email us at: firstname.lastname@example.org or call us on +44(0) 20 3950 6624
WORK WE’VE DONE
Customer segmentation for FWD Insurance
FWD set out to change the way people feel about insurance. The Asia insurance market is crowded so precise targeting is critical: the right people with the right brand proposition, products, services and communications.
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