Market Segmentation Services
Market segmentation is one of the most important and fundamental aspects of marketing. It paves the way for understanding what your key target markets look like, where they are, who the decision-makers are, and why they might buy from you. We strongly believe this is the best starting point for any serious marketing program and our Market Segmentation Services can get you there. Without it, you are taking a shot-gun approach that at best leads to inefficiency and higher marketing costs. At worst, your marketing program simply won’t produce results. Sometimes companies are starting from scratch. In some cases, they have a fairly good view of their segmentation and only need validation or refinement. Either way, Market Segmentation Services help clients get precision and clarity about the target audiences they should be pursuing.
|Market segmentation begins by deciding the most logical ways to divide your prospects. The typical attributes are geography, demographics, company size, industries, etc. A fine start, but further dividing your markets into sub-segments will have even greater impact. Better still if you consider other factors such as buying cycles, competition, and switching costs as examples. The more thought – the better!|
Divide Your Market
|Once the key target markets and sub-segments are defined, the next step is to identify the “addressable market” or the number of companies that fit the definitions. You need to create new account lists or augment what you already have. Then you’ll know how many companies in each market could potentially buy from you. The results may lead you to focus more or less on particular parts of your market.|
Identify Target Accounts
|The last phase of the process is to identify the specific contacts in your target accounts. The purpose of this entire exercise is to reach people who have the most influence and are likely to buy. Think2Grow offers ground-up account/contact list building or we can help you acquire relevant lists for your situation. Either scenario usually involves a process of clean-up and validation and we can help with that as well.|
Identify Target Contacts
Why is Market Segmentation so Important?
The key goals of market segmentation are to gain the following:
- A highly relevant list of the companies and decision-makers who are most likely to benefit from and potentially buy what you sell
- The ability to directly communicate with these potential buyers to build awareness, affinity and engagement
The reason market segmentation is so important is because it allows you to communicate the right messages, about the right solution, to the right people, at the right time!