SEMA eNews Vol. 15, No. 48, November 29, 2012

Understand Your Customers and Increase Profits

  market research
   

You’ve got to know who your customers are before you can set your business strategies and maximize your profits. The answers to the following questions are not merely “nice to have;” they're essential:

  • Which consumer group should I target, with which parts and which message?
  • Are there any new consumer groups I’m missing with my marketing?
  • Where and how are consumers buying?
  • What motivates consumer purchase behavior?
  • Which parts do consumers buy and/or want to buy?

The new 2012 SEMA Consumer Segmentation Report can help your business:

  • Identify target consumers. By looking at product purchases, vehicle usage and interests, you can identify the segments that are likely to be your company’s core customers. Understanding the needs of these key consumers can help you better serve your customers.
  • Expand customer base: Expansion opportunities may exist with customers you haven’t previously targeted.
  • Secondary segments: By recognizing different needs and interests of consumers, you may be able to tailor services to a wider variety of customers.
  • Vehicle platform and usage: Your target segments may show that owners of vehicles you don’t currently support have similar needs or interests in your product types.
  • Messaging: Consumer needs and benefits, along with interests and hobbies, can point to refined and targeted messaging that will resonate with your customers.
  • Marketing: Purchase and research sites, hobbies/interests and vehicle usage can be used to refine your marketing strategy and advertising channels.
  • Product development/product mix: Vehicle usage, interests/hobbies and parts purchase patterns can spark ideas for new products, line extensions, feature enhancements and cross-selling opportunities for target consumers.

Get the answers you need now from The 2012 SEMA Consumer Segmentation Report, free for all SEMA members, $950 for non-members. Download your report today at www.sema.org/research.

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