Who are my customers?
Often, especially in the B2B space, businesses do not have a comprehensive understanding of their customers' characteristics.
Yes, they may know on an account level how many workers the customer employs and possibly the industry in which the customer does business.
But across their entire customer base, businesses may not know if their customers are concentrated in certain traditional market segments (e.g. revenue, industry).
And they are even more unlikely to know how their customers stack up geographically and against enhanced market segments such as payroll and IT spend.
We can help you gain this insight by constructing a "big picture" view of your customers. We can augment your customer file with market and enhanced data fields and then present the results in an interactive dashboard.
This will allow you to thoroughly explore your customer base and reveal how aligned your customers are with both your expectations and marketing strategies.
This dashboard is a simple example of an interactive customer profile. It shows how current customers stack up against the market in various market segments for a fictitious business.
Click on the button below or on the image to go explore the dashboard. Can you determine what share of customers in the health industry spend between $25k and $100k?
We offer more sophisticated dashboards which include a geographical perspective (useful for aligning sales territories), various other measures (such as revenue, payroll and potential spend) and additional filtering functionality.
Where is my market opportunity?
Customer profiling focuses on the characteristics of customer concentrations.
But are there subsets of customers that fall outside of your typical customer concentrations?
What is the market value of these customer segments?
And what is your market penetration in these segments?
By incorporating an estimate of market value we can help you identify "pockets" of market opportunity. Comparing these pockets with your current situation will provide insight into where your scarce marketing and sales resources should be deployed.
This dashboard is a simple example of an interactive customer segmentation based on industry and business employee size.
About 71% of customers can be placed into 1 of 26 segments in this fictitious example. By comparing the potential "opportunity" spend with current customer penetration, a decision can be made as to which segments should be further pursued.
For example, hovering over customer segment 16 in the table reveals above average market penetration (in Ambulatory Care) but only average market opportunity potential. What would you do?
At the very least this approach allows for a tailoring of communication messages.
How can we help you?
Drop us a line today, we'd love to chat!