Customer Targeting & Lead Generation

Customer Targeting & Lead Generation

Knowing where to position your products or services and who to sell to may seem straightforward, but effective customer targeting is usually sophisticated and full of nuance.

Wakefield Research’s Market Intelligence can help in two ways:

• Determining how applicable a product is to various markets

• Identifying the individuals in each market who may be potential buyers.

How Wakefield Research Can Help

In today’s business environment, buyers are often far along the path to making their final purchase decision before actually contacting a brand or business. This is particularly true in B2B markets. Thus, it’s nearly impossible for a salesperson to influence a buyer who is already far down their path-to-purchase route. In instances when buyers are still open to being influenced, they rarely contact sellers on their own for information on the product or service. They are hesitant to invest time and resources seeking information that they expect to be readily available online.

Therefore, it is imperative for sellers to put themselves in a position where they can influence buyers early in the purchasing process. This can only be achieved if sellers know their target audience.

To assist with this, a list of potential new customers can be developed by identifying and profiling companies that require specific products and services. Additionally, a thorough examination of each company’s market activity will provide the necessary knowledge to approach these customers strategically and effectively.

Customer Targeting Methodology

Market Intelligence customer targeting is tailored to each brand’s unique position in their industry. In a B2B market, the process starts with the identification of applicable companies that fit the customer profile. After an examination of those companies, the second phase of research can even include lead generation by pinpointing potential buyers.

Customer Identification Strategy Case Study

A leading provider of welding machinery was experiencing difficulty growing their customer base, despite the fact that they sell a superior product.

Creating a best-in-class product is no guarantee of a successful business if the universe of potential customers remains unexplored. In this case, the company initially had success selling the welding machinery to the construction industry, but a downturn in construction activity meant sales of the product suffered.

The company lacked resources to efficiently identify customers in other industries and turned to Wakefield Research for assistance. An analysis of key manufacturing processes across multiple industries found that the client’s welding technology was needed in the automotive and aerospace industries. Subsequent analysis identified a list of potential customers. Following the research, the client was able to diversify into the additional industries and target new customer segments.

Lead Generation Research

An additional phase of research involves a lead generation analysis. Depending on the market, custom research approaches are used to perform a deep-dive into the specific individuals who play a role in actual purchasing decision-making. Our approach builds a list of potential business leads.

Finding customers can be challenging, especially when looking in adjacent markets. But through the Market Intelligence offering, the customer universe is mapped to find the ideal customer or expansion base for your business.

For help with customer acquisition research or to learn more about quantitative, qualitative and market intelligence research services, contact Wakefield Research today.

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