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How to Leverage Segmentation Data to Increase Monetization

Published on 14 March 16
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Remember the $100,000 Pyramid Game Show? The one where two players are each teamed up with a celebrity, and they have to guess a word or phrase based on the descriptions provided by their teammate? Well, I’m not a celebrity, but what if we were teammates on that show, and I said to you:

  • Geographical location
  • Age
  • Gender
  • Online behavior patterns
  • Psychological profiles

What would you guess?

Yes – these are all WAYS TO SEGMENT WEB VISITORS. And doing it well is guaranteed to get you to the Winner’s Circle.

The first four types of segmentation are old news. While they are still technically an industry best practice, since pretty much anyone who is anyone in digital marketing is doing them, they can now be re-categorized from best practice to standard practice.

The newer trend is segmenting visitors based on psychological personas.

Innovation in segmentation
Web psychologist Dr. Liraz Margalit has identified six online personality types by studying behavioral patterns and online decision making processes. By studying the patterns of behavior of your website visitors, and classifying them into these six personas, you can customize experiences that speak to their needs and solve their pains.
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For example, when wireless company T-Mobile monitors users who rationally compare different phone models but skip over subjective reviews, they can target the customer experience for the Rational Visitor segment.

To do so, they hide the long-winded reviews and replace them with a numeric rating system, provide side-by-side comparison of features, and present the customer with all of the information he needs to make an informed, rational decision.

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How does a site like Zappos handle the Brand Oriented segment? These visitors are concerned with the brand recognition, the product’s popularity in society amongst their demographic, and other factors, such as the product’s style and features, that contribute to the feeling of excitement, pleasure and pride associated with purchasing well-known and highly coveted items.

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Zappos show large images, allow brand-oriented shoppers to play with colors, hide extra information far down the page, and they also include videos with upbeat music and hosts that visitors can relate to. All these factors combine to create the ideal environment for guiding Brand Oriented visitors through the conversion funnel towards completing their purchase.
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It can be determined that a member of the Wish Lister segment is browsing a site when users are tracked carefully reviewing items, browsing competing brands, exploring color options, picking items and adding them to their cart, but never completing the purchase.

Visitors in this segment view their online cart as their virtual property. Adding items to their cart (and visiting it often) gives them a rush that almost equates to buying the item.

So, how can you encourage the Wish Lister to complete the sale (and thereby increase monetization)?

The next time Ms. Wish Lister browses the site, have one of the items in her cart miraculously go on sale.

According to Dr. Margalit, This kind of unexpected personal discount helps to enforce the wishful thinking bias—the notion that what we want to be true affects what we believe to be true. It gives the customer the sense that ‘the Universe is giving me a sign that I should buy this product.’

A revelation about monetization