Why Conduct an Industry Analysis
Top Reasons to Conduct an Industry Analysis for Your Business
Heavy equipment dealers have limited resources at their disposal. In order to achieve consistent growth, they have to use those resources as effectively as possible. Success comes down to making the best decisions they can about where to focus their efforts, particularly when it comes to marketing and sales. The key is to target potential customers who are most likely to work with you. An industry analysis from our partner company Zintoro will tell you who those people are.
What is an industry analysis?
Zintoro completes your industry analysis by analyzing which industries are most common in your customer list. Using the Standard Industrial Classification (SIC) codes, you can understand which industries your different customers are in and which industries you do business with most often. The analysis looks at your customer count, sales volume, revenue, number of potential customers, and a variety of other key metrics for every SIC code found associated with your list of customers.
How an industry analysis helps you grow
- Identify your most valuable customer segments
An industry analysis helps you know which industries your current customers represent, which sectors you serve most frequently, and where the most value lies for your business. That way, you will recognize which industries offer the greatest opportunities for growth moving forward.
- Effectively prioritize limited sales and marketing resources
With a clear understanding of which customer segments are valuable to your business, you can focus your time, budget, and sales outreach on industries that want and need your products in order to drive more revenue. The result is that your resources are used more efficiently, and you are targeting those prospects that are most likely to convert into customers.
- Tailor messaging and offers to specific markets
The insights offered by a Zintoro industry analysis assist you with refining your marketing and sales strategies. For example, if most of your customers use equipment for demolition, rather than excavation, you can adjust your messaging to highlight machine features that are valuable for demolition jobs. This tailored approach improves engagement with your marketing materials and boosts sales.
- Make more informed business decisions
An industry analysis provides a solid, data driven foundation for decisions about product inventory, sales promotions, and market expansion. It gives you the confidence to pursue new opportunities in sectors where you already have a strong presence or high growth potential.
Unlock new opportunities through Zintoro
A Zintoro industry analysis gives you the clarity required to grow your market share and maximize the value of you current and potential customer base. If you want to have a better understanding of your customers and know where to focus your limited resources, then contact Zintoro for an industry analysis today!
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