Industry turnover? Here’s how to study it and use it to target the right B2B customers
If you operate in B2B and want to acquire new customers, you have certainly thought about figuring out which companies are in the highest revenue classes.
Indeed, if you want to target the most attractive and longest-lasting clientele, turnover is one of the aspects you absolutely must take into account.
Yet he is not the only one!
In fact, there are other aspects to consider when it comes to acquiring the best client companies and that contribute, along with turnover, to defining the right target for your business.
In the next few lines we are going to touch on exactly these topics.
We will first explain how to obtain data on the turnover of companies active in the sectors you are interested in (spoiler: dedicated market analysis ), and then what other information you should consider in order to target the right clientele right away.
Let’s start now!
B2B strategy: choosing target customers based on companies’ revenue classes
Having a B2B business, you will already have an idea regarding the revenue classes of customers that are most attractive to your industry (if you don’t have it, don’t worry-we’ve got it covered!).
But how to identify the enterprises that fall into those certain brackets?
Doing so will seem impossible to you: it’s not like you can Google all the companies in a specific category, investigate the turnover, and then do the sums by averaging.
In fact, manually would be really impossible.
But fortunately, market research software rushes to your aid!
We at Central Marketing Intelligence can query them in an extremely specific way to obtain a large amount of data, process it, and present it to you in a crystal-clear report that needs no interpretation.
Your B2B market report will be interactive: to get the list of companies that are in a certain revenue class you will simply have to select the bracket you are interested in…et voila, here are the names.
Try it right now: click here to interact with our example report, go to the Turnover Class section, and click on the slice of the graph you want to examine.
Automatically, all graphs and tables will show you only the data for companies in that specific range!
But we renew our advice: when choosing companies to focus on, don’t rely only on turnover classes; evaluate other coefficients as well.
Read also: B2B target customers: the starting point for your business strategy!
Turnover classes and beyond: here’s what to consider when choosing customers to target in your B2B strategies
Here you are, holding your report of B2B companies that could become your customers. But you have to skim them, identify those on which to focus your business strategies.
You have selected the revenue classes you are interested in, and now all the charts are in line with your preference.
Yet that’s not enough-you have other assessments to make, especially since your goal is to build a lasting customer base, right?
Then examine two other values: the trend in turnover and the trend in net income (which, not surprisingly, we show you in two graphs placed side by side, just below the diagram devoted to classes).
Ask yourself these questions:
- Which companies make the most profit?
- Which companies have grown the most in terms of profits and turnover in recent years?
Having found the answer to these questions, you will have an even clearer idea about the companies to which you should target your B2B business strategies.
At this point, after you have thoroughly studied the entire report and selected the most interesting companies, you can start making the proper moves to attract them!
How to use market research data to “catch” the right customers
You could settle for the names and send useful (printed) materials about your business, network on LinkedIn and invite key business people to workshops, webinars and free seminars… or delve further into the characteristics of your target customers.
In fact, your customers are not just the names you find in the B2B report. They are people: entrepreneurs like you and their employees. And they act like it.
They inquire online, do research, comb through your site and social profiles (and of course those of your competitors) and need to solve problems.
As you may have already realized, Google is an inexhaustible well of data.
It collects the desires, doubts, preferences, and what your potential customers don’t like. It knows what your competitors are doing to acquire customers, and it also knows what your competitors’ weaknesses are.
Having other data in hand regarding the companies you want to target allows you to adopt winning strategies in B2B content marketing, social media marketing, advertising, SEO and much, much more.
To make inroads into your customers’ hearts you should definitely know what answers they are looking for, how they express themselves and what attracts them most.
And here again, data-driven market research is critical.
