Kx’s Four-Step Customer Segmentation Process

Kx’s Four-Step Customer Segmentation Process

How To Level Up Your Customer Segmentation Strategy: Behavioral Segmentation  

Kxcustomer segmentation delves deeper than any traditional segmentation by looking at underlying behavioral and attitudinal factors that can replace the standard identifiers. Your team can improve your process by expanding on the factors you include in your segmentation beyond demographics and traditional commercial indicators. Below are some of the behavioral segmentation variables your team can include: 

  • Attitudes: These variables influence customers’ perception of products and their receptiveness to trying out a new product 
  • Roles and  level of influence: Customers’ roles can impact drivers of purchase or use, and prioritizations of these drivers, based on different roles/responsibilities and experiences of the user/purchasers   
  • Experience and situational context: Analyzing these factors can showcase different unmet needs based on the type of user and provide context into what healthcare companies can do to drive increased adoption/purchase

Customer Segmentation Graphic

Click to expand

Developing Customer Segments With Sales Teams In Mind 

While customer segments are a vital marketing tool, focusing on behavioral segmentation allows your sales team to provide a more personalized experience. Throughout this process, marketing teams must ensure that each segment is:  

  • Specificthe segments are mutually exclusive and collectively exhaustive, and each customer can only fit in one segment  
  • Meaningfulapparent differences exist among segments, and these differences are significant drivers of behavior and preferences  
  • Actionable: markers for different segments support easy identification and targeting for therapy development teams  

Creating digestible segments specifically for the sales funnel empowers the sales team to better secure business. 

KxFourStep Approach For Segment Profiles 

Our experts uniquely leverage these variables to identify accounts that give the biggest share of wallet. Kx conducts the segmentation through three steps: 

  1. Determine segmentation goals: Kx works with organizations on clarifying their goals and mapping their segments to match these goals, including identifying the segments that are most likely to drive profit and have the most significant lifetime value  
  2. Identify the markers for distinct segments : Defining key demographics is critical for the success of the segmentation process as it dictates the approach of any go-to-market strategy. Our experts start with traditional indicators and slowly work through the in-depth behavioral indicators, identifying the deep and nuanced permutations within the target base
  3. Develop and quantify segment profiles or archetypes: When Kx works with organizations on customer segmentation, our team builds out the different segment profiles, or archetypes of customers. Our team performs in-depth qualitative research to understand the drivers of high product affinity within each segment, giving your sales team insights they need to message to their targets effectively. After setting the boundaries, quantifying each segment’s size allows your team to gauge which segments are the highest value for your team, and provide the most significangrowth opportunities. To do so, we conduct quant research and K-clustering to identify combinations of variables that statistically show segments 
  4. Implementation: Perhaps the most challenging aspect of the implementation process is where the tie between marketing and sales matters most. The cardinal implementation rule for marketing teams is that all archetypes rolled out must be unique. With that in mind, the fewer archetypes, the better the sales team’s result as they can customize their approach and connect more effectively with their targetsOur team is skilled at designing tailored strategies for implementation and can support your team through the procedure 

How Kx Can Help 

With product planning and launch strategyexpertise, Kx Advisors can guide your team through customer segmentation and targeting. Our team of healthcare experts will help you evaluate your baseidentify your customer segments, effectively appeal to your ideal customer, and position your organization for long-term success.  

Contact Our Team Today

How Medical Practices Can Keep Patients Safe: COVID-19 Best Strategies

How Medical Practices Can Keep Patients Safe: COVID-19 Best Strategies

As medical practices reopen to pent-up demand, they must adjust the patient experience to protect both patients and staff from COVID-19. Kx Advisors surveyed one hundred aesthetic physicians across the US to understand the obstacles they face in each step of the patient experience, analyzing the extent of COVID-19’s impact. Building on guidance from the CDC, our experts compiled best practices from these physicians on how they are addressing these pain points. These COVID-19 best strategies aren’t exclusive to aesthetic practices; many can be applied to other clinics and provider practice settings.

COVID-19 Best Strategies For Medical Practices

Map Showing COVID-19 Best Strategies For Medical Practices Pain Points and Solutions

Click to expand 

Waves of COVID-19 restrictions

Click to expand 

Applying These Prevention Methods  

Our experts compiled these strategies into four main prevention methods that practices can use:

  • Reduced time: Practices can limit the time patients spend in the practice, reducing the risk of COVID-19 spread
  • Reduced carrier density: Practices can space out appointments, space out waiting room chairs, and eliminate physical check-out to reduce density in the practice
  • Transmission prevention equipment: With PPE for both physicians and patients, medical practices can keep staff and patients safe
  • Adapted infrastructure: Using an online scheduling program, installing plexiglass at check-in, asking patients to wait in their cars, and leveraging telemedicine can reduce additional risk

Practices also shared suggestions to industry partners on how companies can support them during this reopening period.  Top items included product pricing adjustments, expired product replacement, marketing support, limited rep office visits, and help with product-specific guidelines for safe administration. Companies that serve medical practices can adjust their strategy to align with the above guidance and better support their clients.

How Kx Can Help

Kx Advisors is continuing to evaluate business models, deliver top-notch expertise, and make profitable recommendations to our healthcare clients. Our team of experts can help your organization assess how you can best support your aesthetic clients and adapt your  corporate strategy to position you for long-term success.

Contact Our Team Today