Introduction to Customer Segmentation | Marketing Analytics for Beginners | Part-19

In Google Analytics, segments are used to divide customers into groups i.e. customer segmentation. Organizations use customer segmentation to get to know their customers in the best conceivable way. Knowing the customer can help teams efficiently tailor marketing strategies, marketing paraphernalia, and sales strategies. This makes customer analytics a crucial step in the marketing function of any organization.

This video talks about the importance of customer segmentation and explains how different customer characteristics can be used for segmenting, targeting, and positioning customers to increase sales. Furthermore, it discusses different concepts for analyzing consumer data that marketing teams can opt to understand customer psychology. We answer questions such as: What are segments? How do organizations use customer segmentation? What is the umbrella concept? How do different segments respond to the same marketing strategy? What does a marketing framework consist of? What are the advantages of knowing the customer? How do marketing analytics use machine learning to perform customer segmentation?

Table of Contents:
0:00 – Introduction to segments
0:43 – Benefits of knowing your customers
1:35 – Marketing Framework
1:46 – Segmentation characteristics
2:45 – Marketers approach towards segmentation
3:53 – Summary

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