Classify prospects based on firmographics to boost ROI and drive sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 17, 2022, 9:28 AM GMT+0

B2B marketers can leverage firmographic segmentation to categorise clients based on their company's attributes.

In the B2B landscape, firmographic segmentation refers to segmenting a target audience based on the attributes of a business, a company, a non-profit, or a corporation. It enables B2B firms to create and target messaging to companies that are interested in what they have to offer, similar to individual consumers in demographics segmentation.

Compared to demographics, firmographic segmentation entails merging demographic and geographic factors to group companies on a bigger scale. Industry, location, performance, company size, status and structure, executive title, and average sales stages are some of the factors brands need to account for while segmenting clients based on firmographics. Firmographic data like location revenue, growth trajectory, and more can help B2B brands identify prospective consumers, boost ROI, and lower costs.

Companies can better understand their consumers' needs, meet their needs, and increase engagement via firmographic market segmentation. Brands can use insights from firmographic segmentation to build loyalty, improve customer experience and operations. Moreover, categorising based on firmographics can help businesses convey their value to prospects and differentiate themselves from the competition.

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