Presently, we are using smart list to send email programs. We are in a process to segment database and switch to segmentation instead of using static list.
Please provide suggestions, what could be the criteria for segmentation.
Have you searched past Community posts? This isn't the first time people have tossed around ideas for segmentations. But it's impossible to just tell you Use these segmentations -- if you have static lists surely they already reflect business-specific divisions between leads.
As Sanford said, there is no standard best practice Segments. It will highly depend on your industry, specific organisational needs and goals, etc. However, below a very useful article written by Marketo on the topic:
I hope this helps you!