What we do
How can we help you identify the different consumer groups in your market so you can better understand their needs and purchase motivations?
Identifying high yield segments helps businesses direct their marketing to the people most willing to make a purchase.
Traditionally, segments have been identified by demographic data such as age, income, lifestyle, or socioeconomic status. But demographic segmentation is overly descriptive and lacks sufficient insights into the motivations necessary to drive communications strategy.
Mindlab has developed a pioneering new approach to segmentation that goes beyond demographics. Based on our expertise in mapping unconscious associations, our approach to segmentation dives deeper into the emotions and associative networks that underpin our attachments to brands and drive purchase decisions. We tie this back to the demographic data from standard segmentation approaches so you get the best of both worlds – deep insight into consumer attitudes that are directly linked back to the factors you can target easily.
A new way to do segmentation
Mindlab’s new segmentation methodology is based on implicit association testing. This test identifies which concepts people most strongly associate with a given product or brand. Participants must quickly determine whether or not they feel an association word is a ‘good fit’ with a given product/brand or not. By responding at speed, participants draw on their implicit perceptions to make a decision.
By grouping participants according to how similar their associations are, we are able to identify market segments that share deep unconscious attitudes rather than just superficial characteristics. We can then identify the actionable demographic features that communications strategies can target, safe in the knowledge that these segments really do share similar motivations.
We also use implicit testing to uncover the unconscious drivers and barriers that different consumer segments face when shopping for a particular category or product.
Rich narratives and data-driven insights
Our new approach to market segmentation relies on cluster analysis. This extracts important insights from association tests to reveal how different types of customers relate to a product.
Mindlab combines the data from association tests with personality and lifestyle data to produce detailed pen portraits of the different groups of customers identified by cluster analysis.
This unique approach helps identify who has the most positive and negative perceptions of a product, helping businesses make the right decision with their marketing strategy.
Click here to read an example of how we used our new approach to segmentation to learn more about the market for a new product concept.
Using segmentation to improve communications and product offerings
Once you’ve got these segmentations, you can tailor your marketing messages to speak more directly to your varied customer base. And, ultimately, these personalized tactics are more efficient and cost effective. According to a study by Hubspot, email campaigns that took advantage of market segmentation had “14.31% higher open rates and saw 101% more clicks than non-segmented campaigns.” On top of that, revenue rose by 760%.
Armed with a thorough understanding of your customers, you can refine your product offerings to address their specific pain points. You may even discover that there is room for additional products or services you might not have thought of without this research. This could also help your business earn revenue, as more specialized products have less competition.
Seen what we do but wonder who we do it for?
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