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Sell more through effective customer segmentation

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Karagh Kelly, Client Manager at IMS Marketing looks a how effective customer segmentation can dramatically boost sales.

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Sell more through effective customer segmentation

  1. 1. Insert Your Title Here Extra wording goes here! Sell More through effective customer segmentation
  2. 2. Whether you are bringing a new product to market or are looking to bump up sales of an existing product, these quick tips will: • Save you months of work • Thousands of Euros • Help you develop a product that people want • Help you devise your sales and marketing strategy • Build a structured list of people who are actually willing to buy your product.
  3. 3. Ask yourself? Who are my customers?
  4. 4. Properly identifying and segmenting your target market is critical If You Think Your Target Market Is “Everyone” You’re In Trouble
  5. 5. Obviously we all want to sell our products in bulk and in 99.9% of cases we don’t really care who buys them as long as they buy them – so... we just put some ads in the paper, build a website, maybe hire a sales person or two and do lots of other stuff that costs money. Then we are surprised when we’ve little or no sales.
  6. 6. Here’s the problem.... Ultimately, if you’re in business, chances are you are trying to help people solve a problem, satisfy a market need and at the same time make a profit. Logically you’d think the right answer would be that the bigger your market i.e. ‘the everybody’, the bigger and more profitable your business. Unfortunately – not so.
  7. 7. So many of us fall into this trap... Defining Your Target Audience TOO Broadly The reality is that the vast majority of people out there are not your target audience.
  8. 8. Your business success will be defined by how clearly and specifically you define your target market.
  9. 9. Take some of the words most successful companies Ask yourself.... Who is their target market? Do they target everybody? Or to phrase it differently, who is NOT their target market?
  10. 10. Who is their target market? Do they target everybody? Who is NOT their target market? Tiffany & Co(High-end jewellery) Penny’s (Retailer of reasonably priced fashion and home wear- also known as Primark)
  11. 11. Tiffney & Co target a very different customer to Penny’s. Tiffany’s is ultra exclusive and the definition of luxury where customers pay a lot of money for excellent quality. Penny’s or Primark as it’s known throughout Europe targets customers that are looking for good value and low prices.
  12. 12. Both companies target very different markets yet they are both major, highly profitable brands. Neither targets ‘the everyone market’
  13. 13. Focus your time, resources and money on identifying your target customers. & Stick with them. Always ask – who won’t buy my product?
  14. 14. Like some more information on customer segmentation? Contact Us Today Web: www.imsmarketing.ie | Email: info@imsmarketing.ie | Tel: 091 739450

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