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Segmentation Methodology Identifies Profitable New Markets: A wireless Internet service provider, wanted to shift its growth into high gear by quickly and thoroughly analyzing potential market segments for expansion. They needed to outsource the work and asked VisionEdge Marketing to conduct the research and analysis and provide expansion recommendations. A new market was identified, which the company quickly penetrated, becoming the market leader. #smartbusiness #marketresearch #operationalexcellence https://lnkd.in/gCqbpU_m

A competitive analysis is the process of gathering data about the products, sales, and marketing strategies of your competitors (i.e., other businesses in the same industry). Here at Red Egg, it's a key step in our branding process. To learn more about what goes into a competitive analysis, take a look at this article: https://bit.ly/4acuh6n

Putting Customers First: Unlocking the Power of Understanding In the dynamic landscape of business, one undeniable truth stands out...Customers come first! Understanding who our customers are is not just a business strategy; it's a commitment to building lasting relationships. Knowing their preferences, pain points, and aspirations is the key to delivering exceptional value. 🎯 Imagine a world where we not only recognise our customers but also comprehend how they find us. Are they discovering our offerings through social media, word of mouth, or a simple online search? By deciphering their journey to us, we tailor our approach, ensuring a seamless and engaging experience. 🤝 But it doesn't stop there! 🚀 The real magic happens when we dive deep into the information they seek. What are their burning questions, unmet needs, or challenges? By providing the right answers and solutions, we transform potential leads into satisfied customers. 💡 In the realm of conversions, it's often the small things that matter most. The personalised touch, the timely response, and the extra mile we go to meet their expectations – these nuances make all the difference. Let's embrace the philosophy that understanding our customers is not just a transactional necessity; it's the cornerstone of building brand loyalty. 🏆 Today, does your business have a customer-centric approach, because when customers come first, success inevitably follows. 🚀 #CustomersFirst #CustomerCentricity #BusinessSuccess #SalesStrategy #RelationshipBuilding #business #loyaltyprograms #adviceoftheday #advice #motivation #motivationmonday #motivationalpost #marketing #marketingandadvertising #seo #digitalmarketing

Feeling lost in the sea of market metrics? Let's simplify it. TAM (Total Addressable Market) is the entire revenue opportunity if you captured 100% of your market. SAM (Serviceable Addressable Market) focuses on the segments you can realistically serve with your current resources. SOM (Share of Market) is the portion of SAM that you currently capture, showing your market share. Master these metrics to sharpen your marketing strategy and drive growth. Want to learn more about why these metrics are so important? Click below to read our latest blog↴ _________ #MarketStrategy #BusinessGrowth #DigitalMarketing

We Find The Answers To Beat Your Competitors #competitiveintelligence #marketintelligence #competitiveadvantage #competitoranalysis #strategicanalysis https://lnkd.in/euPAjr7M

https://lnkd.in/euPAjr7M We Find The Answers To Beat Your Competitors #competitiveintelligence #marketintelligence #competitiveadvantage #competitoranalysis #strategicanalysis

🔍 Ever wondered how successful businesses stay ahead of the curve? It's all in the marketing research! Our newest article unveils the fascinating world of primary and secondary research methods. From capturing direct consumer insights through surveys to tapping into industry reports for broader trends, learn how these tools can shape your marketing strategies for the better. Dive in and discover the keys to understanding your market! 🎯 #MarketResearch #BusinessGrowth #MarketingStrategy #Procurement #DigitalMarketing #Surveys #Sources #ConsumerBehavior

Drawing from my experience in marketing, I've uncovered a powerful playbook featuring 4 distinct types of customers, each with their own unique strategies for success: 1. 💰 𝗧𝗵𝗲 𝗕𝘂𝗱𝗴𝗲𝘁-𝗖𝗼𝗻𝘀𝗰𝗶𝗼𝘂𝘀 𝗘𝗻𝘁𝗵𝘂𝘀𝗶𝗮𝘀𝘁: Picture this - customers who absolutely adore your products but can't quite reach for them. Solution? Craft an irresistible, budget-friendly product package just for them! About 20-25% of your audience may fall into this category. 2. 🕰️ 𝗧𝗵𝗲 𝗣𝗮𝘁𝗶𝗲𝗻𝘁 𝗪𝗲𝗹𝗹-𝗢𝗳𝗳𝘀: These folks have the means but aren't hitting the 'buy' button just yet. Your game plan? Forge and nurture a rock-solid relationship to keep your offerings top-of-mind. They might represent around 30-35% of your customer base. 3. 🤔 𝗧𝗵𝗲 𝗡𝗼𝘄-𝗕𝘂𝘁-𝗡𝗼𝘁-𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗦𝗾𝘂𝗮𝗱: They're ready to spend, but your offer doesn't spark their interest. Engage! Seek their feedback, absorb their criticisms, and harness it to revamp your product, ensuring they come knocking in the future. Approximately 10-15% of your audience could fit here. 4. 🚫 𝗧𝗵𝗲 𝗨𝗻𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗮𝗻𝗱 𝗨𝗻𝗮𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗹𝗲: Sometimes, it's best to bid adieu. They neither fancy your product nor have the means. Reallocate your resources elsewhere for maximum impact. This group might be around 5-10%. 5. 💎 𝗧𝗵𝗲 𝗗𝗿𝗲𝗮𝗺 𝗔𝘂𝗱𝗶𝗲𝗻𝗰𝗲: Here's the goldmine - they're keen, they can afford, and they're ready to click 'buy' now. Treat them like royalty! Nurture this relationship to create loyal, repeat customers. You can expect roughly 20-25% of your customers to be in this highly desirable category. P.S: these percentages can vary depending on your specific business, products, and target market. 📊📈 #CustomerSegmentation #MarketingStrategies #CustomerEngagement #BusinessTips #CustomerRetention #ProductDevelopment #CustomerExperience #SalesStrategies #MarketResearch #CustomerSuccess

Success lies not just in knowing your customers, but in truly understanding them. In our blog https://lnkd.in/dXcBdtpd delve into the world of buyer intelligence, understanding its core principles and unveiling its transformative potential. #customerinsights #customerintelligence #edgelinking #customerfeedback #marketingstrategy #feedback

If you’re having a 🤦🏽♀️ week sometimes it’s nice to read an article that just gets through. Sharing one of those here 👇“Marketers can lay a solid foundation for success by cultivating a deep understanding of three key areas: market direction, competitive landscape, and customer needs.” https://lnkd.in/gfK3scf3