Focus on the markets and segments that matter most.
Identifying target markets and then segmenting them in as meaningful a way as possible is a key part of any robust product, service, or campaign design process. As you can’t design, market or sell anything effectively without knowing who’s needs you are addressing and what is most likely to appeal and convert those specific people.
So, identifying your target markets and how these should be segmented is a key strategic decision that’s likely to influence success or failure. That’s why clients choose us to conduct the research and analysis required to select target markets and segment them effectively.
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What is target market analysis and customer segmentation?
Target market analysis and selection is a process that is focussed on identifying the specific groups of people or organisations that are most likely to use or purchase a product or service. Once you have identified all relevant groups these should then be prioritised into primary and secondary target markets.
Dividing a target market into segments means going a step further and grouping people or organisations according to the key characteristics that drive their purchasing decisions. Again, these should be prioritised.
Successful target market selection and customer segmentation is dependent on:
- Defining pragmatic total addressable (TAM), serviceable available (SAM), and obtainable market share (SOM) estimates
- Conducting robust and diligent primary and secondary research
- Identifying meaningful ways to cluster, group, and sub-segment
- Defining valid criteria to prioritise markets and segments
- Effectively communicating key findings and priorities to internal stakeholders
When done successfully target market analysis and customer segmentation provides a deeper understanding of where, who, and what your team should be focussing on.
For over 10 years, our user centred approach to target market analysis and customer segmentation has helped a broad range of clients minimise risk and get to market faster.
Key benefits of target market analysis and customer segmentation
Establish a shared understanding of potential customers.
Identity and address unmet needs and pain points.
Increase the return on investment of marketing and sales campaigns.
What do I get?
- Target market and customer segmentation report
- Proto-personas, personas, and/or archetypes
- Jobs to be done or top tasks analysis
- Research and insights log
- Research plan
- Stakeholder map
- Assumptions and facts map
- Project plan
Pricing and turn-around times
Secondary research-led projects
Fees:
£15,000 (exc. VAT).
Minimum turn-around time:
Up to 4-weeks.
Primary research-led projects
Fees:
£30,000 (exc. VAT).
Minimum turn-around time:
Up to 16-weeks.
What our clients think
“Border Crossing UX’s professionalism, attention to detail, and expertise surpassed our expectations. Their contributions have made a significant impact. We highly recommend Border Crossing UX as a trusted partner for delivering outstanding results.”
“Border Crossing UX’s diligence and patience in understanding and unpicking our business has been exemplary. Having such an honest relationship allowed us to address business challenges and meet our challenging objectives.”
“Border Crossing UX made the process stress-free. They asked important and sometimes difficult questions and really got to the point of what was required.”
“Border Crossing UX helped us define how micro-businesses perceive and interact with our services. Coming highly recommended, their professionalism and thoroughness was fantastic.”
“Border Crossing UX helped us achieve and even surpass the expectations we had at the project’s outset.”
“Border Crossing UX get right inside the mind-set of your clients and work with utter dedication to deliver the results your business needs.”
Want to work with us too?
Discuss your desired outcomes with a user experience specialist.
How do you approach target market selection and customer segmentation?
Our user centred approach to target market selection and customer segmentation ensures we:
1. Define objectives, priorities, and constraints
- Kick-off workshop
- Measurements of success framework
- Project plan and schedule
2. Understand context
- Stakeholder mapping
- Review source material
- Stakeholder interviews
3. Conduct research and analysis
- Market research and analysis
- Competitor research and analysis
- User research and interviews
4. Collaborate and generate
- Target market selection and segmentation workshop(s)
- Prioritisation and roadmapping workshop(s)
- Archetype development workshops(s)
5. Document, communicate, and support
- Target market and customer segmentation report and presentation(s)
- Archetypes
- Research and insights log
Find product/market-fit faster by adopting a research-led approach to target market selection and customer segmentation.
Interested in target market analysis and segmentation?
Discuss your specific requirements with a user experience specialist.