LERN has found that this year more members have taken advantage of the Market Segmentation Analysis then ever before. This has lead to more informed marketing, programming, and decision-making. More specifically, members have been using LERN’s 80/20 reports to know which categories, subcategories, and courses are their stars and dogs, and where to allocate resources accordingly. This has also lead to better programming mixes and new classes that better fit the needs of their students.
Members have been using the carrier routes generated in LERN’s Market Segmentation Analysis to create more targeted mailings of their print brochures. Knowing what carrier routes your past registrations came from and using that data to created a mailing plan going forward can be very effective. LERN recommends targeting carrier routes that have produced the most past participants because their programming has clearly resonated with people on those carrier routes in the past and there must be other people who have similar demographic characteristics on the routes who have not taken a class yet. Many members have had success with mass mailings that target carrier routes that traditionally have had high response rates and have gained many new customers from these efforts.
Members have also been able to better target their marketing efforts by using the market segments LERN has identified from their registration data. Using a program’s registration and demographic data, LERN can formulate a profile of their best customers. Typically programs have roughly seven primary market segments and knowing these segments can help make informed marketing and programming decisions. Knowing the profiles of your best customers can help decide what types of new classes would resonate with them and what marketing strategies would do the best job of reaching them.
LERN’s Next Course report contained within the Market Segmentation Analysis has helped member predict what course a given student will likely be interested in taking next. From past registration data, we can predict what courses a student will take next by looking at the behavior of the other students in the classes the student has previously taken. This allows the program to contact these students and recommend these predicted courses and let them know when the next sections are. This is a very targeted marketing technique that helps push students in the direction of programming that they likely will be interested in.
Finally, the LERN Market Segmentation Analysis has developed best customer’s lists for many programs. These lists take into account the registration frequency and monetary value of students and rank them accordingly. These lists can be altered to any size the member needs by working from the top down of the ranked list. They are very effective for both print and email.
Overall the LERN Market Segmentation Analysis has helped members make data-driven decisions that have led to more effective marketing, programming, and over-all decision-making. Using your past data is the best way to make informed future decisions. Members can submit their registration data for analysis for free but send an inquiry to [email protected].