To continue reading this article you must be a paid subscriber.
Subscribe to MDMAlready Subscribed? Click here to log-in | Forgot your password?
Distribution executives’ beliefs about the best segments to go after in their markets may not be accurate. Blending internal transaction data with data that provides a more complete, demographic view of your customers is the best way to better understand your markets. This article examines how customer segmentation can highlight markets where you may be missing growth opportunities. And it provides examples of where previous assumptions about growth segments were called into question by actual data.
When we ask successful distribution company executives about the sweet spots in their markets, they readily provide a confident answer. The problem with the answer is that it is usually incorrect or at best partially correct. A detailed, analytical look at their customer base shows that some market segments are overrated, some underrated, and others are ignored or undetected altogether.
While these executives sincerely believe their answers, there are several reasons why they don’t match data about the customer base. The first is ...
Already Subscribed? Click here to log-in | Forgot your password?
Read the latest articles and see your reports.
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
Wholesale distribution news and trends delivered right to your inbox.
Sign-up for our free newsletter and get:
Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.
By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.