What is STP?
STP is a “consumer-centric approach to marketing communications.” In other words, it helps you, as a marketer, to help identify who your users are. It can also helps deliver more personalized message to your users. By personalizing STP for your users it can create an experience that makes users come back. This model can also improve tactics on how to gain new users. Allowing you to take a large audience, and see what segments are most used by your current users.
Segmentation
Segmentation is when you divide your users into smaller sub-divisions from your audience as a whole. These segments can include a hand full of different characteristics shared between different users. The most relevant characteristics include the following: Demographics, behavior, and psychographics.
Targeting
By having segments, like the ones stated above, it can help target users. The next step is to decide what segments are most valuable to your users. By choosing the most valued segments it can determine what information can be generalized from data analytics, and what information is harder to get. In turn, understanding who your audience is can help know how to target the right consumers.
Positioning
The third step is to start position your product or service to users. This is determined after carefully analyzing demographics, behavior, and psychographics. First, take a step back and trying to see your users perspectives. This can help allow an understanding to see if you would buy your own product. Knowing this information can help you with brand positioning. Second, by understanding users it helps open doors to gain new users who can bring in more revenue. To end, these three steps can help grow your business as a whole.
The following article can help understand more about STP. https://blog.hubspot.com/marketing/segmentation-targeting-positioning