How to Locate Your Business's Geographic Market Area
As a business, you need to be where your customers are coming from, and you'll want to research where your customers live to make sure that your business is well-placed. This is also a good way to target potential new customers. Use your existing customer geographic market and then ask yourself, Where can I find potential customers?
To locate your business' customer geographic market area, here’s some advice:
Start with the addresses of your existing customers. Wherever you have a concentration of existing customers, you also have a concentration of potential customers.
Follow your inquiries. Inquiries are customers waiting to happen. The addresses of your inquiries will define target geographic areas where people have demonstrated interest in the products and services you offer.
Locate your noncustomers. Identify geographic areas with concentrations of people who have the attributes of your current customers but who don’t yet buy from you. These are noncustomers who are also potential customers.
Call advertising representatives at the leading publications that serve your business sector. Media outlets conduct and purchase research, and often they share information as a way to convince you of their ability to carry your marketing message to the right prospects.
Contact your industry association. Inquire about industry market analyses that detail geographic areas with concentrated interest in your offerings.
Visit your library reference desk. Study the SRDS Lifestyle Market Analyst, a rich source of market-by-market demographic and lifestyle information, and the CACI Sourcebook of ZIP Code Demographics, which details the population profiles of 150 U.S. zip codes and county areas.