Market segmentation categorizes businesses (or individuals) into groups that respond similarly to marketing strategies. This is the first critical step in developing a sales process that will appeal to a wide range of demographics. Your marketing segmentation strategy will be heavily influenced by your product and the types of businesses that already buy it. Market segmentation isn't just for large corporations. Smaller teams with less focused efforts benefit the most from segmenting their audiences. When a company struggles to get off the ground and maintain momentum, it's easy to become too focused on what has worked in the past to experiment with marketing to new groups.
