Each industry has a specific need or process for doing things. It's important to understand which industries are finding the most value in your products and services so you can target those customer's specific needs. This data helps you to focus your marketing efforts on these industries as you already have references and use cases in that particular field as well as know how your business is positioned in their industry.
With more industry specific use cases you have, it builds up your reputation and credibility among your target customers. Everyone is looking for something a bit different, but if you speak your customer's "language" then it's easier for you to develop a long-term relationship with this customer. Having such details help to improve communication in quote descriptions and invoice details to improve your approval rates in these specific industries.
This type of data is to assure you are armed and ready to better communicate and provide great service to your customers. With a bit more focus, you can provide a better connection and experience for your potential customers. With Mosspaper, we help to make sure you can focus on your business with the right details.
Improve your business with more Targeted Marketing:
1) Targeted marketing or cold calling in specific industry
2) Provide more how-to videos on specific solutions
3) Have references from that specific industry
4) Have industry specific marketing collateral such white papers, best practices, and use cases
When you know where to focus your time to grow your business, you will generate more steady profits. Let's say you serve several different industries. Which one gives you the best lifetime value? The lifetime value looks at how much revenue we expect to receive in the future from our customers. A lifetime value tells you exactly where your most valuable customers are.
lifetime value = a prediction of the revenue that you’ll receive in total.
Lifetime Value= Average revenue from each sale x Average number of sales per customer
Most people use different calculations, but when you're starting out, just try to keep it simple.