At Strategic Insights, we believe that the core of any successful go-to-market strategy is a deep understanding of what drives the decisions of customers and key prospects. Segmenting your market—finding and prioritizing the right targets—is the essence of this approach.
Market segmentation is both an art and a science, requiring that the practitioner be well versed in the latest, most rigorous marketing science and possess a thorough knowledge of how companies use market insights in real-world situations. Our rare combination of these skills makes Strategic Insights a powerful ally in conducting your market segmentation.
We locate your most promising prospects using a carefully crafted selection process to ensure the segmentation is based on the attitudes and beliefs that most impact your market. Your market segmentation becomes a tool that can help drive revenue and profit and also be used effectively in your sales and marketing efforts.
Case Study - Industrial Product Manufacturer
To target the optimal customer for a business-to-business product, we used several waves of market research. Customer interviews, focus groups and ethnographic research came first, followed by proprietary, profitability-based market segmentation techniques. This enabled us to design a quantitative analysis plan using a nationally representative sample.
Our findings identified two segments, totaling just under half of the available market, that will drive the lion's share of potential revenue and profit. Our analysis also identified other segments that could be converted, but at a cost. We quantified the risk of appealing to customer segments that would incur high sales and support costs. Our segmentation analysis allowed the client to focus their marketing resources on key segments with the greatest ROI potential.