In a data-driven era, success in business is largely the result of thorough market research — research conducted to know 1) why you’re selling your product or service and 2) who you’re directing your product or service towards.
That may sound like simple logic…but you’d be surprised how many startups fail to solve a valid need and target the right people.
“Targeted Account-Based Marketing(ABM) practices are increasingly being used to identify key businesses and decision-makers…Yet, more than 75% of the sources we processed lacked data on Industry, Revenue and Employees.”
When it comes to market segmentation, B2B salespeople and marketers are challenged quite differently to B2C professionals:
- Demographics are customer profiles and segments based on consumers, known as business-to-consumer models (B2C)
- Firmographics are business profiles and segments based on client accounts, known as business-to-business models (B2B)