Target market analysis is an essential step in any successful marketing plan. Empower your business and inform your decisions with data-driven analysis of local markets, ensuring that your sales strategy is targeted to the appropriate individuals. Don’t waste time marketing to people who have a low prospect to customer conversion rate. Experience improved conversion rate, higher sales, and improved service to your customers with target market analysis report from Market Area Reports.
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What is a Market Area Report?
Before you initiate a new sales approach, it is imperative that you conduct market analysis. There are numerous reasons why this is important, but we’ll focus on the two most important right now.
First, knowing your target audience eliminates the guess work of who you should be targeting your sales towards. A successful target market analysis report provides you, the business owner or marketing guru of your business – with a detailed outline of who your potential clients are and where they are located. Don’t wait until you are six months into a new sales approach before realizing it’s not producing the results you anticipated.
Second, research shows that you are 90% more likely to attract new clients from inside your market area. Our target market analysis report provides you with a market area map, meaning that you are able to exclude households or businesses that have a low or zero likelihood of converting into customers.
Still not convinced that Market Area Reports can help your business? A target market analysis sample business plan may convince you. Continue reading for more information.
Market Area Report’s Process
How can we ensure a detailed, accurate target market analysis report each and every time? Like many other successful businesses, we have developed a process that combines industry tools and expert knowledge. How does it work?
First, we take a look at your current clientele. By plotting your current clients, geographic patterns emerge through strategic segmented marketing. You will be provided an easy-to-read map of these patterns to give you a visual understanding of where your current clientele resides.
Next, we use density models to draw your market area. Our methods are constructed to show a 90% purchase rate from within your market area. Market Area Report’s proprietary niche marketing analysis defines your clients, which is important for high conversion rates!
Finally, penetration models transform your business’ marketing tactics. Market Area Reports deliver maps that demonstrate basic consumer information to help guide your marketing strategy, such as basic household composition. There even is the potential of finding psychographic trends.