The 4 critical stages of your market segmentation plan [Checklist] (2024)

Segmentation is something that businesses should do periodically to understand what customer needs have changed—and how to better meet those needs. And the most successful market segmentation exercises follow a plan.

From setting out your objectives to executing your segmentation research, this checklist points out the four critical stages of implementing your market segmentation plan. Ensure you're on the right track by following the below.

Learn more: Understanding your audience: a step-by-step guide to to help you identify, connect and influence your customers

1. Objective Setting

• Set segmentation objectives and goals.
• Identify segmentation variables and develop theories.

2. Identify Customer Segments

• Research design.
• Data collection.
• Analyse data and identify segments.
• Validate all results.

3. Develop Segmentation Strategy

• Select target segment.
• Identify segmentation implications and recommendations.

4. Execute Launch Plan

• Identify key stakeholders.
• Develop communications and operational launch plan.
• Execute and monitor.

There is a clear process to segmentation. Within each stage, there are sub-steps that need to be thought about before moving on to the next stage.

Most marketers struggle the most during the first two stages. Even though you might rush your research and data collection, it’s the most important stage of market segmentation.

Learn more: Everything you need to know about the 6 types of market segmentation

Too hard basket?

No time or resource or need some strategic direction? It can be comforting to know you're on the right track when devising your business strategy. Why not chat toone of our friendly research experts regarding your next steps. Get in touch here.

Want to use segmentation and persona development to improve your marketing? Download our free guide, Understanding your audience, and get best practice strategies on how segmentation achieves your business objectives.