Step 4: Data segmentation
After the interviews are over, you will have some data to analyze. From my experience the mapped target group will consist of about 20% of warm leads (we can call this group one), that are likely to invest in the near future and willing to hear more about your products and services. They have good knowledge of the market and are looking for the best solution to their business.
The second group will consist of about 20-30% of leads that are somewhat interested of your products or services, but have no plans to invest in the near future. Usually people in this group have a challenge that needs to be resolved, but the pain is not yet big enough to start making investment decisions. However, keep in mind that this second group is highly important for you, because here lays your future potential.
For the remaining data 50-60% you need to do following: 1.Take out the non-potential contacts and save them in a separate file. By doing this you ensure, that in the future mappings you will not take them in a new target group. 2. There will be some companies and contacts that did not answer to your survey, but are a likely potential for you in the future. Make also a separate file out of these contacts and save them for the next potential mapping.
I hope this post was helpful for you. I am happy to get feedback from all B2B Sales and Marketing professionals. Tell me your way – how do you find the potential from the market and generate sales?
Step 1: Target Group
Take time to carefully plan the target group. This first step is the most important part of the process, so don’t cut corners doing it. For some of you readers, this is basic stuff – but still we must go through this important stage.
You start by defining the following:
- Company size: The preferred amount of employees and/or turnover
- Geographical area: What region or area do you want the customer potential to be mapped and your sales to focus on?
- Industry(s): What are the industries, where your products or services will most likely to be used? Is there a new industry sector, where you want to focus your new business sales efforts?
- Titles of decision makers. Good way to think here is, what titles or roles do the buyers in your current customer base have? If, you have a new product or service and you don’t now the decision maker profile, you can leave the investigation to the Stage 2: Ask and listen.
Use your local B2B contact database provider to help you set up this target group. Remember that no target group is 100 % correct. 1/3 of the contact information will change during one year – just be sure that you get a fresh one. Finally you have to check that non of your existing customers are on this new target group.
I am happy to get feedback from all B2B Sales and Marketing professionals. I hope this post is helpful for you. Tell me your way – how do you find the potential from the market and generate sales?