A single business cannot satisfy the needs of absolutely every consumer. This is why you need to segment your market. GbBIS shows you why segmenting your market is not only smart, but effective as well.
A market segment is a select portion of the overall market. Say the total market in your area has an assortment of different age groups, income brackets, and people of single and married status. A market segment would focus only on those individuals making $40-$50 thousand a year, or only women, or only married couples, or any other specific segment you can think of.
Your business cannot be all things to all people. There are people that are interested in your products, and people that aren’t. Segmenting your market is an intelligent way to focus your resources on those who ARE interested. By eliminating the uninterested segment from your targeted market, you can focus your marketing, advertising, and human resources on the segments that are most likely to buy from you.
Who to Target
There are many different ways to determine which market segment is the right one to target for your business. Many companies use geography, finding potential customers by means of distance and travel time. They also use demographics and purchasing behaviors to find the market segments to their products appeal the most.
Once you begin targeting your specific market segment, you will see increased responses, a better allocation of resources, and you will even save money on direct mailing. All because you are targeting the right people.
If you need a quick, efficient way to find the right customers, contact GbBIS. We offer geography-based solutions to help you improve your business. Our high quality databases, maps, reports, and web applications help you discover new customers and new opportunities.
Contact GbBIS today. We can help you locate the right customers for your business