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Content about Market segmentation

May 2, 2013
Map Out Your Dry Cleaning Market

PEMBROKE, Mass. — Identify anything that shows where customers are coming from

PEMBROKE, Mass. — Do you have a map on your office wall? No? You should. I don’t mean a road map, but rather a map of your marketplace.

This map would depict your competitors, busy main drags, affluent neighborhoods, any information that tells you where your customers are coming from.

This is not something that you can purchase, so I suggest you get started making your own. Start with a town or city map that lists streets; have it blown up. Then fill in the information that you need.

Obviously there’s the town you’re in, but if you do business in neighboring towns, include them. Put in competitors in all directions. Color-code affluent high-use neighborhoods. Mark in busy shopping streets and commuter roadways. You might have to drive around and explore the territory in order to do justice to your project. The effort gets you canvassing the territory, which is a good thing to do, because you’ll continually make discoveries.

August 28, 2012
Profiling Customers to Increase Your Dry Cleaning Sales and Profit

SAN FRANCISCO — More you know about customers, more you can engage them with services

SAN FRANCISCO — The more you know about your customers, the more you can engage them with your services. The more you know about your best and most profitable customers, the more you can attract prospects that will become best customers.

So how do you go about it? You may have worked on compiling demographic information such as age, location and income levels. But is that enough?

DEMOGRAPHIC AND PSYCHOGRAPHIC PROFILING

Let’s use a hypothetical example: you have determined that you want to target consumers who earn more than $150,000, live in a specific ZIP code, are 35-45 years old, own a home worth more than the median price in your market, and have a college degree.

I’m going to describe two prospects: