Behavioral Segmentation – Strategy Foundation Workshop
This customized, hands-on workshop works with your product management / marketing teams to develop new insights about customer and channel behavior, insights that lead to strategies for winning business in new and existing markets. QDI consultants work with your team members to explore:
- Customer behavior, by working with your team to explore different customer life cycle experiences with your products / services to identify or validate new segmentation and product / service opportunities.
- Market behavior, by working with your team to explore the behavioral issues that drive your market share positions, both market presence and close rate and how this performance drives your market share position.
Why clients ask for the Behavioral Segmentation Workshop:
- Looking for greater depth of market understanding from the product team.
- Just starting a new product / market assessment project
- Would like to adopt the same tool set for each product team to assess new markets, so that you can look at each opportunity through the same market lenses
- Already considering growth opportunities, but need to jump-start the planning effort and to focus resources on the strategy and knowledge gaps
What clients get from the Behavioral Segmentation Workshop:
- A fresh, structured understanding of the drivers of market effectiveness
- Where to target resources to improve performance
- New insights about customers, their behavior, needs and potential segmentation approaches
- Team members learn a common marketing segmentation framework
- They apply QDI’s tools to your business in a customized workshop with your marketing team to your markets
- They work with QDI’s consultants who coach your team on the use of QDI’s Market Effectiveness and Value Tools to create winning value propositions and segments strategies
- Using your own data
- Workshop customized to your own segment and strategy issues
- Pre-plan using a workbook designed for your team members that organizes what they know prior to the workshop
- Full-day workshop that focuses on creating new insights for your business
- Follow-up discussion to assure your team is on track for actionable execution
- Identify potential segment strategies for growth and what you have to do to validate them
What the Behavioral Segmentation program entails:
- Pre-planning – a day with QDI consultants to collect data about your issues and fine tune the workshop for you
- Workshop homework to guarantee full attendee involvement and usefulness of the results
- QDI will develop planning assignments for your team – based on the pre-planning done with your management team
- Your staff will prepare materials for the workshop
- 1 Day workshop to bring together your planning materials with QDI’s proven market models and insight tools…
- Workshop findings report including key findings, next steps, and potential work streams, and review of this via conference call.
Who should attend—a product team – and sales representatives who are closet to the customers and potentially R&D groups to support new concept development (approximately 8-10 participants).
Course Learning Objectives
- Understand the concept of needs or behavioral based Segmentation and how to use it to define a segment and the value proposition and offering to each segment of a market
- Understand the concept of Market Effectiveness and how to explore Market Presence and Close Rate dimensions to identify opportunities for improved performance
- How to translate customer behavior into segment strategies options
Exercises in the workshop (Modified based on your needs)
- Apply Market Effectiveness Model to identify:
- Market share position
- Presence and Presence behavioral drivers
- Close Rate and Close Rate behavioral drivers
- Create a needs / Behavioral Segmentation
- Understand customer(s) experience
- Identify / categorize needs
- Segment customers into needs-based groups
- Develop a Segmentation Strategy
- Who to target
- The value proposition
- The expected Close Rate – how to achieve it
- The expected presence – how to achieve it
- Learning gaps-what we need to know to believe what we have developed
Behavioral Segmentation Agenda (Modified based on your needs)
Segmentation Overview
- Create or capture more value – growing revenue and reducing costs
- Sales / Marketing Process for creating and capturing value
- Value Management
- 3 Levels of Segmentation
- Structural – which markets to serve
- Needs/Behavior – what products and services to offer
- Sales Effectiveness – how to target customers
Behavioral Segmentation Case Studies
- Fuel efficiency truck tire
- Engineered Valves
Market Effectiveness Model
- Market share position modeling
- Exploring behavioral drivers
- Presence
- Close Rate
- Review of home work
- Exercise: to model market share position
- Prioritization of key behavioral drivers to manage
Needs/Behavioral Segmentation
- Tools
- Value Model
- Life Cycle Assessment
- Expectations, Attitudes, and Beliefs Model
- Life cycle of product/service interactions
- Clusters / Buckets of Needs / Value / Behavioral Based Segments
- Test of a Quality Segmentation
- Review the Homework
- Market definition for the Exercise
- Applying the tools to create customer groups
- Bucket / Cluster customer needs into segments
- Segmentation Quality Test
- Assessing the confidence in this segmentation
- Using the segmentation
- Value proposition by segment
- Aligning Offer, sales, marketing by segment
- Organizational thoughts
Summary
- Using the segmentations
- Using the tools to create segmentations that drive value creation and capture
- Next Steps