Use Firmographics to Segment your Audience Effectively

December 09, 2023 / Probe Research

Are you ready for the new era of sales?

Today customers are more informed than ever on the highly competitive banking sector. In this highly competitive state, what is most important is how different you are from any other salesperson. Therefore, knowing your prospect better than anyone else is the key differentiator.

Market segmentation and targeting is a widely accepted approach in today’s business world. Be it business to customer or business to business, correct segmentation is imperative to serve the market efficiently.

Firmographics are some identifying characteristics of a business that help to group it, along with other companies that have similar attributes, into a significant market segment, with .

Just like we use demographics to define people, firmographics does the same for companies.

Firmographics are very useful in outlining market segments. With a more in-depth understanding of market segments, sales and marketing teams can now plan their strategies more effectively.

Variables of Firmographics

Industry
Size
Business Location
Structure
Performance

Purpose of Firmographics

To know more about the firm, with regard to their business activities, market situation, and government regulations
To segment the market better — creating more logical business categories and enabling the development of products that align with the business’ requirements
To optimize marketing efforts and improve conversion rates
To maximize sales and minimize rejections caused by statutory irregularities and non-compliances
To gauge opportunities for growth and foresee hidden threats by understanding industry data trends and comparing it with different markets

Benefits of Firmographics

Hasten the sales cycle
Identify new opportunities
Understand what you need to offer
Improve productivity by better targeting
Boost marketing ROI

How Probe42 Helps

With Probe42, you can easily define your target markets with ease by:

Accessing firmographics of over 1 million active companies
Using powerful search filters to locate companies in your catchment area