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A firmographic is a criteria that is used to identify a target market or target audience for business-to-business marketing. The following are illustrative examples.
LocationThe location of a firm's headquarters, operations, retail locations or customers.IndustryTargeting firms in a particular industry or sector of the economy. Organization TypeTargeting government, non-profits, public companies or private companies.RevenueThe size of a firm's revenue. Typically used to create categories such as large, medium, small and micro business. For example, a promotional price for businesses with less than $1 million in revenue for a cloud-based office productivity platform.
BudgetEstimated budget for a particular type of spend. For example, organizations that budget more than $1 billion a year for information technology capex.EmployeesAnother common way to rank the size of firms is by how many people they employ.Market ShareMarket share in a particular product category. For example, a telecom equipment vendor that targets the top three telecom companies in 90 countries.
Business VolumeVolume of a particular business activity. For example, a courier that targets ecommerce sellers that ship more than 1000 packages a month.Credit WorthinessIndicators of the credit worthiness of firms such as a corporate credit rating. Years in BusinessTargeting old firms or new firms.Organizational StructureOrganizational structure such as targeting the subsidiaries of a current customer.
Customers of a CompetitorThe customers of one of your competitors. For example, a new telecom company that targets the customers of a firm with a poor reputation for network stability, performance and customer service.Customer SatisfactionTargeting your current customers with customer satisfaction scores. For example, an airline that offers upgrades to corporate employees who often fly business but were dissatisfied with a recent flight.
Share of WalletShare of wallet is the percentage of a current customer's spend in a product category that goes to you. This is a very common way to target upselling efforts. Product UseProduct use such as heavy users of an IT platform.Internal EnvironmentFactors inside the firm such as its technology platforms or corporate culture. For example, targeting firms that often allow employees to work from home.
Business NeedsBusiness needs such as firms that are planning to build a data center within 18 months.Buying SituationBuying situation such as a firm that often purchases business class flights last minute.Purchase FrequencyTargeting firms that make frequent purchases in a product category such as offices that reorder basic supplies weekly.Purchasing ProcessExcluding or including a particular type of purchasing process such as excluding firms that require a cumbersome RFP from your target market.Purchasing CycleTargeting firms that are likely to purchase in a particular time frame. For example, construction projects that are within 6 months of purchasing materials and components.NotesA firmographic is analogous to geographic, demographic, behavioral and psychographic segmentation of consumers.Firmographics can be used by any area of marketing including product development, promotion, pricing, sales and distribution.
Market Segmentation
This is the complete list of articles we have written about market segmentation.
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A list of market segmentation examples by type.
The definition of demographics with examples.
The definition of market segment with examples.
A complete overview of market segmentation with examples and comparisons.
A list of common psychographics.
The definition of niche market with examples.
An overview of the elements of the marketing mix known as the 4Ps and 7Ps.
The definition of vertical market with examples.
The definition of industry vertical with examples.
A list of common types of target market.
The definition of target customers with examples.
The definition of demographics with examples.
The definition of geographic segmentation with examples.
An overview of Generation X.
Complete examples of the marketing mix for different business models.
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