What is our ideal market?
How big is that market?
How does our 'ideal' customer look like?
Where are they?
How many are they?
These questions are related to your segmentation since the market is huge. If there's no proper segmentation, your Sales will run in all different directions and you'll end up with all kind of customers. In addition, new customers will get confused: 'Should we address that supplier to satisfy our specific needs?' Companies buy from other companies that understand their specific requirements, specific needs, specific market circumstances and so on. 'Is that supplier qualified to understand our business specifics and learn us something new we did not know ourselves?' As a result, new customers will get attracted to you based on your references mentioned on your website: 'Their existing customers are like us. Let's contact them!'
To help you answer the question to properly segment your market: 'How does our ideal customer look like?'
Look to the common profile of your existing customers, in terms of:
- Size: SMB vs. large corporates?
- Regional vs. global presence?
- Number of blue and/or white collar workers?
- Installed base?
As a conclusion, a proper segmentation will bring you 4 benefits:
- More focus of your Sales to address the right customers
- More leads from the market addressed to you
- Better conversion
- More pleasant and loyal relationships with clients