BUSINESS OWNER CORNER: SEGMENTING TO SUCCESS

Segmenting your market is a simple yet powerful way to better serve your customers and grow your business. It involves grouping your customers in a logical way that helps you understand their specific needs.

For example, imagine you own a landscaping business. You could segment your customers into these groups:

1. Homeowners looking for basic maintenance: These clients primarily care about the price and want simple, no-frills lawn service.

2. Homeowners who pride themselves on their yards: These clients are focused on aesthetics and are willing to pay more for detailed maintenance and supplies to make their home look beautiful.

3. Business owners with landscaping: These clients want a clean, professional-looking space and a convenient, hassle-free service and are willing to pay more for it.

   
   

By understanding each group and what matters most to them, you can find ways to serve them better. Using the example above, you might offer a basic, inexpensive option for the first group and a more comprehensive, pricier option for the second and third. You might even decide that the first group isn't your target market at all. No matter what you choose, segmenting your market gives you a powerful tool to manage your clients and grow your business.