Using market segmentation as a way to sell more business

Q: At a recent insurance conference it was suggested market segmentation would improve our new business conversion. How can we employ this marketing technique to sell more business?

The first stage in planning an effective marketing campaign is to
define why your prospective customers would buy your products and
services.


Market segmentation is the method by which groups of customers are
distinguished from each other. Business markets classify customers by
size, production processes or services rendered, geographical location and
employee numbers.


Individual markets classify people by gender, age, geographic location,
occupations, housing attributes and lifestyle.


Market