Typically, there are many groupings or segments to choose from when selecting your client segments.
2 key areas of focus are:
1. Rear-view Mirror: We suggest reviewing your current clients (based on revenue generated in recent years) and,
2. Frontal-view: We suggest looking ahead at your future growth areas, so you can pick a few client segments that your specific clients fit into.
We encourage you to label these segments so they can be referred to later with ease. Here are some examples for Client Segment labels:
- “Young professionals in the 20-30 age bracket who work in the CBD”
- “Employers with 1-20 staff within a 1 hour radius of our office”
- “Young mothers who are looking for natural produce, high in fibre”
What is market segmentation?
Is there a pattern?
We suggest you review your largest invoices or top customer transactions over the past year to gain insights into where you are currently generating a bulk of your revenue. This allows you to concentrate your resources for future success.