Thursday, May 11, 2006

Customer Profiling


So, you are a start-up bringing your first product to market and potentially every business on the planet is a target. How do you decide which companies to target initially? This is when customer profiling become important. Customer profiling focuses you to identify the type of company you believe you have a higher chance of converting to a revenue generating client. How do you go about accomplishing this given UK alone has more than 2.1 million registered companies?

You need to apply number of criteria to reduce this number to about 50 companies to initially target. Once you got your initial 50, then you can analyse them to identify any patterns, and then decide whether to further focus on these patterns - perhaps add further companies that fit into this pattern to the initial 50. Next step is to review the responses your receive and refine the criteria to increase 50 to 100 and beyond!

How did you identify your first 50?

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