What advice would you give to someone trying to segment by contact list membership?

I like this. I used to think this made sense, but I realized people are becoming more multifaceted. Would you also consider developing multiple buyer personas as you segment your audience? Or simply housing individual profiles in a system, not restricting users to specific groups.

This approach would allow a product owner or marketer to be flexible and responsive to insights (because we gain new insights every minute) based on interactions and behaviors. Your method works, but with the proper strategic planning and software, you could do more with less guesswork.