Business knows that finding the right market for their company to survive is very important. This can be frustrating and can create issues. What Purencool Website Development find when developing websites for business is the tendency to build a website that will service their entire market.
Targeting Market segments
In our website assessment tool we ask the questions below and we find alot of the time the owner has never been asked before so they are at a bit of a loss as to how to answer the question. But knowing who you are and what you stand for in business gives us the direction that we need to create something that suits you needs.
- What are five things your business does well?
- Describe your business persona
- What type of customer or client are you trying to attract?
- What words would I use to find you in a search engine?
What is Market segmentation?
Market segmentation is an area of the market that allows a business to specialise. A business needs to find a market segment or sector in the profession that the owner uses to maximise the benefit. They have to implement a system that will assist them in their objective of wealth generation or life style choices.
A business must research the needs and wants of the different market segments before deciding what niche they want to access. The main market segmentations that a user will be able to use for the basis of their research are the following:
- Geographic market segmentation
- Demographic market sector
- Psychographic market segmentation
- Behavioralistic industry sector
Market Segment Example
If you are still not sure, this example might help. You are a builder that wants to specialise in sustainable buildings. So the whole market is building homes and your market segmentation is green homes. But it gets smaller than that, then you have the target customer. This might be a customer in your local area or it might be a special type of sustainable building. This would be a segment of the overall building market. But how does this help someone that is wanting to get a website?
Every business needs a website that is setup SEO. If the business does not know who they are or what market segment they want to access when developing the website it will be designed in very broad terms missing potential customers.
How do I find my Market Segment?
Without business doing any market research they could be trying to provide a service to everyone. This creates a spiraling affect it could affect the delivery of offering a quality service or product. A business can fix its niche position in the market by asking questions. Yes, using questionnaires and other tools you can see very quickly what your customer wants and how you can use this to benefit your service or product and complete the conversion.
Small Business Website Market Segmentation
If small business find their market and move their business toward a market segmentation model this will assist them in their ability to create a website that will be more affective and allow the website developer to enhance their chances of developing a tool that will give them more customers.