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Today customers are more informed than ever on the highly competitive banking sector. In this highly competitive state, what is most important is how different you are from any other salesperson. Therefore, knowing your prospect better than anyone else is the key differentiator.
Market segmentation and targeting is a widely accepted approach in today’s business world. Be it business to customer or business to business, correct segmentation is imperative to serve the market efficiently.
Firmographics are some identifying characteristics of a business that help to group it, along with other companies that have similar attributes, into a significant market segment, with .
Just like we use demographics to define people, firmographics does the same for companies.
Firmographics are very useful in outlining market segments. With a more in-depth understanding of market segments, sales and marketing teams can now plan their strategies more effectively.
Variables of Firmographics
- Business Location
Purpose of Firmographics
- To know more about the firm, with regard to their business activities, market situation, and government regulations
- To segment the market better — creating more logical business categories and enabling the development of products that align with the business’ requirements
- To optimize marketing efforts and improve conversion rates
- To maximize sales and minimize rejections caused by statutory irregularities and non-compliances
- To gauge opportunities for growth and foresee hidden threats by understanding industry data trends and comparing it with different markets
Benefits of Firmographics
- Hasten the sales cycle
- Identify new opportunities
- Understand what you need to offer
- Improve productivity by better targeting
- Boost marketing ROI
How Probe42 Helps
With Probe42, you can easily define your target markets with ease by:
- Accessing firmographics of over 1 million active companies
- Using powerful search filters to locate companies in your catchment area
Login now to explore your company of interest.