Our Customer Segmentation and Targeting service assists you in identifying your most profitable customer segments and devising customer segmentation strategies to target them effectively. We use a variety of criteria such as purchasing behavior, profitability, and growth potential to segment your customer base, enabling you to prioritize resources and tailor your sales strategies for maximum impact.
- What needs does it meet?
- How is it differentiated from the competition?
- What is the universe of businesses that might use your product?
- How is your product or company differentiated from the competition?
- Within the potential market, why would some prospective customers value it more than others?
- What are the likely characteristics of those companies?
- When you look at existing customers, what are the characteristics of those with whom you have been most successful?
Translate the characteristics of high-potential targets into attributes that might be efficiently searchable in industry data or publicly available data, e.g., Department of Labor
Identify potential data sources that can be used to locate targets and estimate their sales potential
Refine target-customer profiles into criteria that can be used to segment the available data
Build a database and develop queries to identify and score high-value prospects
Test the model to evaluate its success at identifying customers already known to be valuable
- Does it, in fact, improve your success rate?
- What is the feedback from salespeople?
- Which data attributes appear to be most relevant?
Adjust the customer segmentation and targeting model on an ongoing basis, adding and refreshing data as it becomes available
Note: A natural extension of this work is to define your coverage approach to each segment, including call frequency, assignment of sales process steps to roles, etc.