Uncovering Overlooked Markets and Targeting
Uncovering and serving overlooked markets is attractive since these will accelerate revenue growth and profits as well as they are easy to serve with little extra sales and marketing effort. Selling the right products to the right customers is based on targeting.
Working with your team, we segment customers into groups based on similar needs and profile each segment. For example, for Toyota families fall into one segment, recent college grads fall into another.
We then assess the attractiveness of each segment, select the best segments, and identify the customers to pursue with marketing and sales activities. For example, a community bank would target business banking services at small companies within a 20 mile radius of each bank branch.
The benefit of targeting the right customer is more relevant offerings and better experience for customers which result in higher win rates and sustainable growth for the seller.