customer description in business plan

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How to Write a Customer Analysis Section for Your Business Plan

Free Customer Analysis Template

• July 12, 2024

A customer contributes significantly to building a winning brand.

Understanding your target consumer, their needs, the problems they face, and the way they behave assists you in creating products and services that can satisfy your customer needs.

Customer analysis is a quintessential part of your business plan. Writing it accurately will help you make informed decisions for other aspects of business planning, i.e. product development and business strategies.

So let’s get started. This blog post describes the process of creating customer analysis in a business plan and guides you with a customer persona example.

What Is Customer Analysis?

Customer analysis is an important section of your business plan offering a comprehensive and in-depth understanding of your potential customer. It is a study of their behavioral, psychological, and demographic patterns to help you make sound business decisions.

Such analysis assists in developing products and services addressing the pain points of your customers and in determining your pricing, marketing, and customer retention strategies.

Why conduct a customer analysis?

A thorough and insightful customer analysis offers a plentitude of benefits. Here are a few you should know of:

• Helps optimize product development by offering insights into customer behavior, needs, and pain points.
• Helps gain a competitive advantage by identifying the pain points that are unaddressed by competitors.
• Helps tailor your marketing efforts to cater to specific customer segments.
• Increases customer retention by giving you a thorough insight into what the customer needs and what drives their decision.

If you think of it, customer analysis forms the basis for designing your products and services, devising your marketing and sales strategies, determining your pricing point, and driving your business growth.

How to Write a Customer Analysis Section

Writing a customer analysis includes extensive research and collecting data from various sources. This data consists of qualitative and quantitative aspects which help you write an accurate customer analysis for your business plan.

Let’s now understand a step-by-step process to write your customer analysis.

1. Identify your customers

The first step of customer analysis is to identify your potential customers and collect information about their special characteristics. Such information comes in handy when you want your product and marketing strategies to align with your customers’ needs.

However, what details should you collect and how should you segment it? Well, segmenting in the following manner can help you get a headstart.

• Demographic: Age, gender, income
• Geographic: Location, type of area (Rural, suburban, urban)
• Psychographic: Values, interests, beliefs, personality, lifestyle, social class
• Technographic: Type of technology the buyer is using; tech-savviness
• Behavioral: Habits, frequent actions, buying patterns
• Industry (For B2B): Based on the industry a company belongs to.
• Business size (For B2B): Size of the company

Customer database can help capture the above data for existing businesses. However, for additional details, you can retort to surveys and forums.

If you are a startup, conducting an audience analysis might seem impossible as you don’t have an existing customer base. Fortunately, there are numerous ways through which you can study your potential customers.

A few of them are:

• Identifying who would benefit from your product/service
• Analyzing your competitors to understand their target customers
• Using social media to prompt potential buyers to answer questionnaires

2. Define the needs of your Customers

Now that you have identified your customers, the next step is to understand and specify their needs and challenges. This is the step where you need to go hands-on with your research.

Getting to know your customers’ needs helps you determine whether or not your product or service hits the mark.

You can adopt one of these approaches to understand the needs of your customers:

Engage directly with potential Customers

A very reliable way to get to know your customers is to simply engage with them, either in person or on a call. You can reach out to your customers using one of the following ways:

• One-on-one interviews
• Focus groups
• Beta testing (invite users to test your products).

These techniques can help you collect adequate data for your analysis.

However, before approaching your customers, set up a systematic survey that can get you structured data for analysis. To ensure that your questionnaire isn’t just covering surface-level information but a deep interrogation of customers’ problems, use the technique of five whys .

Collect data from your customer support

Customer support is the place where you can find raw and unfiltered feedback given by your customers. Analyzing this data helps you understand the pain points of your customers.

You can further gather direct customer feedback by contacting the customers who had issues with your products. This will help you understand the pain points and gaps in your products more vividly.

Run surveys and mention statistics

Talking to your customers helps you get qualitative information that can be used to alter your product or services according to your customers. The next part is to attain quantitative information, in other words, presenting numbers to support the previous data.

Conducting surveys is one of the commonly used methods for quantifying information. You can conduct in-app surveys, post-purchase surveys, or link surveys in email and apps, etc.

You can also collect statistical data to support your conclusions from the interviews. These include stating studies related to customer choices, results from popular surveys, etc.

Want to create a Customer Persona in Easy Steps?

Generate valuable customer insights in minutes with Free Customer Persona Generator .

3. Create a Customer Persona

It is now time to present your collected data using a customer persona.

A customer persona represents a segment of customers with similar traits. It outlines the psychological and demographic features of your potential customer group and thereby assists you in making important strategic decisions.

Consider it as a tool that will make your data analysis process easier and more efficient.

Now, you can either use customer persona templates or an AI tool to generate your buyer’s persona. However, to get a more thorough insight check how a customer profile looks.

Customer Persona Example

This is a customer persona example of an internet service provider(ISP) to help you get a more practical overview.

• About: A lot of customers remain at home and have a minimal and easy-going lifestyle. They need high-speed, interruption-free internet access.
• Demographics: Age is between 30 and 40, has a laid-back lifestyle, lives in suburban areas, and the income range is between $10,000 to $40,000.
• Professional role: Shop owners, employees, freelancers, etc.
• Identifiers/Personality traits: Introverts, like routines, make schedules, prefer online shopping, and stick with the companies they trust.
• Goals: Wants easily available service, and 24×7 customer support, prefers self-service technologies and chatbots over interacting with representatives.
• Challenges: Fluctuating internet connection while working or consuming media. Not enough signal coverage.

4. Explain the product alignment to the Customer’s Needs

You’ve gathered info and created customer personas. The final step is to explain how your product or service caters to the needs of your customers.

Here, you specify the solution you offer to tackle the challenges faced by your customers.

Mention the USPs of your product and its features, and clarify how they benefit the customer. Also, mention how your offerings make the customers’ lives better.

Continuing the previous example of an ISP provider, this company can show how its high-speed Internet plans cater to the needs of individual working professionals. They can focus on aspects like customizable plans, cost-effectiveness, and coverage in remote areas to attract users.

And there you have it—a guide to writing your customer analysis. Just ensure that you maintain accuracy while making assumptions and predictions to make this section useful for making further decisions.

Build a solid business foundation with customer analysis

Understanding you r customers inside out assists you in making profitable decisions for your business. But remember, it is an ever-evolving and continuous process. You need to analyze your customers as often as possible to stay updated about their ever-changing needs.

After all, understanding what your customers need and what they prefer will help you devise strategies that ensure maximum customer satisfaction.

Now quickly create customer profiles for your business with Upmetrics’s AI SWOT analysis generator. However, once you do that, use this tool to streamline your entire business planning process.

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Frequently Asked Questions

What key components should be included in customer analysis.

Here are the key components of a sound customer analysis:

• Market segmentation
• Customer behavior analysis
• Customer profiling
• Customer journey mapping
• Trend analysis and future customer behavior

How can I gather data for my customer analysis?

Here are a few ways for you to gather data for your customer analysis:

• Gather customer feedback using surveys, forums, and questionnaires.
• Use secondary methods to gather industrial data, competitors’ data, and data from publications.
• Use the collected data till data (i.e. social media analytics, customer support data) to form your analysis.

Can customer analysis help in forecasting future trends?

Absolutely, yes. A detailed customer analysis helps you to understand the emerging shifts and patterns in consumer behavior, thereby helping you optimize your product offerings and marketing strategies.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write the Customer Analysis Section of Your Business Plan

Written by Dave Lavinsky

What is a Customer Analysis?

The customer analysis section which incorporates the essential steps of writing a business plan step-by-step is a key component of your business plan and assesses the customer segments your company serves. The objective of the customer analysis is to justify your market choice, identify differentiators, and prioritize the segments you are targeting.

Components of a Customer Analysis

A complete customer analysis contains 3 primary sections:

• Identify your target customers
• Convey the needs of these customers
• Show how your products and/or services satisfy these needs

Download our Ultimate Business Plan Template here

Why Conduct a Customer Analysis?

A thorough customer analysis provides the following benefits:

• Supports your market choice and helps you avoid entering too broad a market
• Helps you focus on serving current customers rather than trying to find new ones
• Enables you to determine which segments to prioritize and how much effort to put into each one
• Helps you craft a strategic marketing plan and platform to reach these customer segments

How to Write Your Customer Analysis

The first step of the customer analysis is to define exactly which customers the company is serving. This requires specificity. It is not adequate to say the company is targeting small businesses, for example, because there are several million of these types of customers. Rather, an expert business plan writer must identify precisely the customers it is serving, such as small businesses with 10 to 50 employees based in large metropolitan cities on the West Coast.

When defining your target market, be sure to identify the following:

• The market segment you are choosing to serve (i.e., age range, annual income, etc.)
• The geographic location of these customers (i.e., city, region, state)
• What is the average revenues/income of these customers?

Once the plan has clearly identified and defined the company’s target customers and the customer demographics, it is necessary to determine the size of your target market: How many potential customers fit the given definition and is this customer base growing or decreasing?

Next, the business plan must detail these customers’ needs. Conveying customer needs could take the form of past actions (X% have purchased a similar product in the past), future projections (when interviewed, X% said that they would purchase product/service Y), and/or implications (because X% use a product/service which our product/service enhances/replaces, then X% need our product/service).

Prioritize the needs of your target customer according to how critical they are, and include a description of each in your customer analysis. Be sure to answer questions such as: 

• What pain points do these customers have? How is their current situation lacking? 
• What will your product/service do to help solve these problems?

The business plan customer analysis must also detail the drivers of customer decision-making. Sample questions to answer include:

• Do the customers find price to be more important than the quality of the product or service?
• Are customers looking for the highest level of reliability, or will they have their own support and just seek a basic level of service?
• Why will customers purchase your product and/or service rather than look for cheaper alternatives?

Prioritize the benefits of your products and services according to how much difference they make for customers and include a description of each in your customer analysis. Be sure to answer questions such as:

• What does your product do? How is it unique or better than other similar products?
• What type of customer could benefit the most from this feature/benefit and why?

Be sure to also show an understanding of the actual decision-making process. Examples of questions to be answered here include:

• Will the customer consult others in their organization/family before making a decision?
• Will the customer seek multiple bids?
• Will the product/service require significant operational changes (e.g., will the customer have to invest time to learn new technologies, and will the product/service cause other members within the organization to lose their jobs? etc.)

Finally, identify each segment you are targeting and how much effort you will put into reaching them. Be sure to answer questions such as:

• How many customers are in each segment and how much revenue will they generate?
• What percentage of total industry sales does this represent?
• What market potential did we estimate for each segment and how does that compare with actual sales? Include the number of leads converted and average deal size.

Example Customer Analysis Template for a Candle Making Company

The needs of this customer segment are that they are looking for high-quality candles that are made with all-natural ingredients. The benefits of their product that are most important to them are that the candles are vegan, eco-friendly, and made with essential oils. Drivers of customer purchase decisions include quality, price, and unique offerings. The company’s target market size is 750,000 people which represent a significant portion of the candle industry. They will put effort into reaching these customers through online advertising, social media posts, and word-of-mouth.

It is essential to truly understand customers to develop a successful business and marketing plan. That’s why including a customer analysis in your business plan is so crucial. Likewise, sophisticated investors require comprehensive profiles of a company’s target customers. By spending the time researching and analyzing customers in your target market, you will develop both enhance your business strategy and funding success.

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Other Resources for Writing Your Business Plan

How to Write a Great Business Plan Executive Summary How to Expertly Write the Company Description in Your Business Plan How to Write the Market Analysis Section of a Business Plan Completing the Competitive Analysis Section of Your Business Plan The Management Team Section of Your Business Plan Financial Assumptions and Your Business Plan How to Create Financial Projections for Your Business Plan Best Business Plan Software Everything You Need to Know about the Business Plan Appendix Business Plan Conclusion: Summary & Recap

Other Helpful Business Plan Articles & Templates

Customer Profile Template And Examples

Updated: May 28, 2024, 5:49pm

Table of Contents

What is a customer profile, why customer profiles are important, how to create a customer profile in 4 steps, b2b customer profile examples, b2c customer profile example, frequently asked questions (faqs).

Compiling a customer profile can help you understand your target market more accurately, and should be updated on a regular basis. By gathering information on your ideal customers, you can tailor your marketing efforts and deliver more personalized experiences. We’ll give you a comprehensive guide to customer profiles, including templates and examples for both B2B and B2C businesses. Learn why customer profiles are important, how to create them, and find inspiration for your own profiles.

Download template here

A customer profile is a detailed description of your ideal customer. It provides demographic information, such as age, gender, income, education and location, as well as customer behaviors and interests. By creating a customer profile, businesses can better understand their target audience and tailor their marketing efforts to meet their needs.

Demographic Information

Demographic information includes details about a customer’s age, gender, income, education and location. This information can help businesses understand who their target audience is and what their needs may be.

Customer Behaviors and Interests

In addition to demographic information, a customer profile should also include details about customer behaviors and interests. This can include information about their shopping habits, social media use, hobbies and other interests. Understanding these behaviors and interests can help businesses better target their marketing efforts and create more effective campaigns.

Knowing your customers is key to any business’s success. Customer profiles allow you to gain insights into the needs, preferences and behaviors of your target audience. Here are some reasons why customer profiles are important:

Better Targeting

Customer profiles enable you to target your marketing and sales efforts more effectively. By understanding your customers’ needs, you can tailor your messages and offers to resonate with them and increase the chances of conversion. When you know what a customer likes, you can create products best aligned with their needs and desires.

Improved Customer Service

Customer profiles help you understand your customers’ pain points, allowing you to provide better customer service. You can address their concerns and issues proactively and enhance their overall experience with your brand.

Higher Retention

When you understand your customers’ needs, you can create products and services that meet those needs, increasing the likelihood of customer retention. You can also use customer profiles to identify customers who are at risk of churn and take steps to retain them.

Data-Driven Decisions

Customer profiles provide you with data that can inform your business decisions. By analyzing customer behavior and preferences, you can identify trends and make data-driven decisions about product development, marketing strategy and customer service.

Competitive Advantage

Customer profiles give you a competitive advantage by enabling you to provide a more personalized and relevant customer experience. This can help you stand out from your competitors and build customer loyalty.

Crafting a customer profile is vital for a successful marketing approach. Knowing exactly what a customer wants and needs can help you tailor your products, marketing and services. You can have multiple customer profiles—many businesses choose to have one for each sector—and you should update these regularly, especially as market conditions and customer life cycles change. These steps will help you set up a customer profile.

Collect Customer Data

Analyze customer data, identify customer segments, share customer data.

Having customer profiles is crucial for both B2B and B2C. Learn about your ideal customer, so you can create marketing and sales campaigns that work for them. Use this B2B customer profile template to craft your own, and consider adding information you gather below.

Company Information

Include details such as company size, industry, location and annual revenue.

Company: Madison Corporation

Company Size: Large corporation with 500-1,000 employees

Industry: Technology and software

Location: Madison, WI

Annual Revenue: $1 billion

Madison Corporation is a large technology and software company based in Madison, WI. The company is committed to supporting local businesses and the Wisconsin economy by sourcing materials and services from local vendors. They are interested in purchasing Wisconsin-made products for employee gifts and corporate events.

Decision-Makers and Influencers

Identify the individuals who will be involved in the purchasing process, including decision-makers and influencers.

Decision-Makers

Mary Johnson, Owner of Johnson’s Gifts – Mary is responsible for making purchasing decisions for her gift shop. She is interested in carrying Wisconsin-made products that are unique and of high-quality, and that resonate with her customer base.

John Peterson, CEO of Madison Corporation – John has the final say on all purchasing decisions for Madison Corporation. He is interested in purchasing Wisconsin-made products for employee gifts and corporate events, and is looking for products that align with the company’s values and brand.

Influencers

Sarah Smith, Marketing Manager of Wisconsin Tourism Board – Sarah is responsible for promoting Wisconsin tourism and is always on the lookout for new and exciting Wisconsin-made products to feature in her marketing campaigns. She has a strong influence over tourists and visitors to the state.

Tom Jackson, Local Business Advocate – Tom is a local business advocate who works to promote local businesses and the Wisconsin economy. He has a strong influence over purchasing decisions made by local businesses and corporations, and is interested in promoting Wisconsin-made products to his network.

Pain Points and Challenges

Understand the pain points and challenges your target customers face, and how your product or service can address these issues.

Difficulty finding authentic and high-quality Wisconsin-made products that are not mass-produced or sold at big-box stores.

Navigating the crowded marketplace of Wisconsin-themed souvenirs and gifts, and finding products that are unique and showcase the state’s culture and heritage.

The desire to support local businesses and the Wisconsin economy, but not knowing where to find or how to identify Wisconsin-made products.

How Stapleton Badger Co.’s products can address these issues:

By focusing on producing handcrafted and unique Wisconsin-made products, Stapleton Badger Co. can provide customers with authentic and high-quality products that cannot be found at big-box stores.

Stapleton Badger Co. can differentiate itself from the crowded marketplace of Wisconsin-themed souvenirs and gifts by offering products that are both unique and of high-quality, and that showcase the state’s culture and heritage in a way that resonates with customers.

By marketing itself as a Wisconsin-based business that supports the local economy, Stapleton Badger Co. can appeal to customers who want to support local businesses and the Wisconsin economy. This messaging can be reinforced through the use of Wisconsin-sourced materials and a transparent supply chain that emphasizes the company’s commitment to local sourcing and manufacturing.

Goals and Objectives

Analyze what your customers anticipate from your product or service and how it can bring them closer to their goals.

Supporting the local economy: Madison Corporation is committed to supporting local businesses and the Wisconsin economy. By purchasing Wisconsin-made products from Stapleton Badger Co., the company can help support local artisans and manufacturers, and create jobs in Wisconsin.

Gifting high-quality and unique products: Madison Corporation is interested in purchasing Wisconsin-made products for employee gifts and corporate events. By purchasing products from Stapleton Badger Co., the company can provide employees and clients with high-quality and unique gifts that showcase Wisconsin’s culture and heritage.

Building a positive reputation: Madison Corporation values its reputation as a responsible and sustainable business. By purchasing Wisconsin-made products from Stapleton Badger Co., the company can demonstrate its commitment to supporting local businesses and the Wisconsin economy, and build a positive reputation with customers and stakeholders.

Purchasing Habits and Criteria

Find out how your target customers make purchasing decisions and what criteria they use to evaluate potential vendors.

Researching products and vendors online: Customers are increasingly using the internet to research products and vendors before making a purchase. They may look for reviews, ratings and social media presence to assess the credibility and quality of a vendor.

Shopping locally: Customers who prioritize supporting local businesses may prefer to shop at local stores or markets to find Wisconsin-made products. They may also look for locally sourced materials and transparent supply chains when evaluating vendors.

Attending local events and festivals: Customers may attend local events and festivals to discover new vendors and products. These events may also provide an opportunity for customers to meet the makers and learn more about the production process.

Quality and authenticity of products: Customers value high-quality and authentic Wisconsin-made products that are unique and well-crafted. They may evaluate vendors based on the quality of their products, materials used and the production process.

Reputation and credibility of vendor: Customers may evaluate vendors based on their reputation and credibility within the community. They may look for vendors who have positive reviews, strong social media presence, and a transparent supply chain.

Price and value for money: Customers may compare prices and value for money when evaluating vendors. They may be willing to pay a premium for high-quality and unique Wisconsin-made products, but also expect fair and transparent pricing.

Marketing and Sales Strategy

Outline a strategy to advertise and distribute your product or service to your intended customers, based on the information you have gathered about their characteristics and preferences.

Research and identify Madison Corporation’s needs and preferences: Before reaching out to Madison Corporation, Stapleton Badger Co. should research and identify the company’s needs and preferences for Wisconsin-made products. This can involve analyzing the company’s brand and values, and understanding the types of products that are typically used for employee gifts and corporate events.

Develop a customized product offering: Based on Madison Corporation’s needs and preferences, Stapleton Badger Co. should develop a customized product offering that aligns with the company’s brand and values. This can involve creating unique and high-quality products that showcase Wisconsin’s culture and heritage, such as custom-made home decor, accessories, and gifts.

Establish a sales pitch: Stapleton Badger Co. should establish a sales pitch that emphasizes the quality, authenticity, and uniqueness of its products, and how they can benefit Madison Corporation’s goals and objectives. This can include providing transparent information about the sourcing and production process, highlighting the positive impact on the local economy, and showcasing the products’ durability and craftsmanship.

Reach out to decision-makers and influencers: Stapleton Badger Co. should reach out to decision-makers and influencers at Madison Corporation, such as John Peterson, the CEO, and Tom Jackson, the local business advocate. This can involve sending customized emails or direct mail that showcase the products and explain their benefits, or arranging face-to-face meetings or calls to discuss the product offering and establish a long-term partnership.

Provide excellent customer service: Stapleton Badger Co. should prioritize providing excellent customer service to Madison Corporation, including timely and reliable deliveries, transparent communication, and flexible payment options. This can help establish trust and reliability and build a strong relationship between the two companies.

Knowing your target audience is key to making marketing campaigns that connect with people who might buy from you. In this section, we’ll provide an example of a B2C customer profile to help you get started, as well as information to consider when customizing your template.

When creating a B2C customer profile, start with demographic information, such as age, gender, income and location. This’ll help you work out who your customers are and what they want.

Demographics

Gender: Male and Female

Income: $50,000-$150,000 per year

Location: Primarily located in the Midwest region of the United States, with a focus on Wisconsin residents and visitors.

Stapleton Badger Co.’s target B2C customers are typically middle-aged and middle-class individuals who are interested in supporting local businesses and the Wisconsin economy. They may be homeowners, parents, or working professionals, and may have a strong interest in Wisconsin culture, heritage, and history.

Their income level suggests that they have disposable income to spend on high-quality and unique products. They may be willing to pay a premium for Wisconsin-made products that are handcrafted and authentic.

In addition to demographic information, consider your customers’ behaviors and interests. What motivates them to make purchases? What are their pain points and challenges? What types of media do they consume? Understanding these factors can help you tailor your marketing efforts to better reach and engage your target audience.

Interest in supporting local businesses: Stapleton Badger Co.’s B2C customers may be motivated by a desire to support local businesses and the Wisconsin economy. They may be more likely to purchase products that are locally-sourced and handcrafted, and that support local artisans and manufacturers.

Appreciation for Wisconsin culture and heritage: Many of Stapleton Badger Co.’s B2C customers may have a strong appreciation for Wisconsin’s culture and heritage, and may be interested in purchasing products that showcase the state’s unique history, traditions, and natural beauty.

Desire for high-quality and unique products: Stapleton Badger Co.’s B2C customers may value high-quality and unique products that stand out from mass-produced and generic items. They may be willing to pay a premium for products that are well-crafted, authentic, and distinctive.

Active on social media: Many of Stapleton Badger Co.’s B2C customers may be active on social media platforms like Facebook, Instagram, and Pinterest. They may use these platforms to discover new products and brands, and to share their experiences and recommendations with friends and family.

Psychographic Information

Consider psychographic information when creating a B2C customer profile. This includes personality traits, values and attitudes. Know what your audience wants and needs, then create messages that they’ll respond to and build loyalty to your brand.

Environmental and social consciousness: Many of Stapleton Badger Co.’s B2C customers may value environmental sustainability and social responsibility. They may be more likely to purchase products that are eco-friendly, locally sourced, and support local communities and artisans.

Appreciation for craftsmanship and authenticity: Stapleton Badger Co.’s B2C customers may appreciate the time, skill, and attention to detail that goes into handcrafted products. They may be more likely to purchase products that showcase the unique skills and techniques of local artisans, and that offer a sense of authenticity and heritage.

Nostalgia and sentimentality: Many of Stapleton Badger Co.’s B2C customers may have a sense of nostalgia and sentimentality for Wisconsin’s culture and heritage. They may be interested in purchasing products that evoke memories of childhood, family traditions, or experiences, and that help them feel connected to their roots.

Appreciation for quality and durability: Stapleton Badger Co.’s B2C customers may value high-quality and durable products that can withstand the test of time. They may be more likely to purchase products that are well made, with attention to detail and quality materials, and that offer good value for the price.

Bottom Line

Building a customer profile is a helpful resource for any company seeking to engage with its target customer. Acknowledging the demographic, behavioral and interest-based details of your customer base can result in the development of more productive marketing and sales efforts. Begin developing your own customer profiles by using the provided templates and examples.

How do I gather customer data for my profile?

You can gather customer data through surveys, customer feedback and analyzing customer behavior on your website and social media.

Can I have multiple customer profiles for different customer segments?

Yes, it’s common for businesses to have multiple customer profiles for different customer segments.

What are some common mistakes to avoid when creating a customer profile?

One common mistake is relying too heavily on assumptions instead of collecting and analyzing data. Another mistake is not regularly updating your customer profile as your target audience evolves.

How do I use a customer profile to improve marketing efforts?

When you’re sure of who your ideal customer is, you can tailor your messaging, content and offers to fit their desires and interests. This can lead to higher conversion rates and improved ROI on your marketing efforts.

What tools or resources are available to help create a customer profile?

There are many customer profiling tools available, ranging from free templates and worksheets to paid software solutions that help collect and analyze customer data. Some popular options include HubSpot , UpLead and ZoomInfo .

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Crafting the Customer Analysis in Business Plan: A Comprehensive Guide

In today’s competitive business environment, understanding your customers is the key to success. Customer analysis in business plans plays a crucial role in driving business growth and providing a competitive edge.

Imagine unlocking the hidden potential within your customer base, tailoring marketing strategies, and developing products that resonate with their needs and preferences. This comprehensive guide will explore the ins and outs of customer analysis in a business plan and how to leverage it for maximum impact on your business.

Short Summary

• Customer analysis is an essential part of any business plan, allowing businesses to understand their target customers and create tailored products/services.
• It involves identifying a market, assessing demographics & analyzing customer behavior in order to inform marketing strategies.
• Utilizing insights from customer analysis can help optimize marketing campaigns & product offerings for maximum return on investment.

The Essence of Customer Analysis

Customer analysis is an essential element of any business plan, emphasizing the comprehension of target customers, their requirements, and how your product or service fulfills those requirements. By performing customer analysis, businesses can better tailor their products and services to their target audience , ultimately leading to increased sales and a thriving business.

Understanding the needs of your target customers is key to success. Knowing who your customers are

Purpose of Customer Analysis

The primary objective of customer analysis is to recognize potential customers, prioritize customer segments, and provide guidance for marketing and product development strategies. Understanding your customers’ wants, needs, pain points, and objectives is crucial to creating targeted marketing campaigns and product offerings that resonate with them.

By closely monitoring customer feedback and support requests (Voice of Customer analysis), businesses can gain insight into customer pain points and preferences and even discover unexpected uses for their products.

Key Components of Customer Analysis

The essential elements of customer analysis encompass target market identification, demographic analysis, and behavioral analysis. Demographic analysis provides insights into factors such as age, income, and location, which can be used to create targeted marketing strategies.

Behavioral analysis, on the other hand, entails comprehending the customer’s decision-making process for the purchase, including the steps taken, information sources consulted, and who has the authority to make the final decision. By understanding these components, businesses can better cater to their customer’s needs and preferences, ultimately leading to success.

Conducting an Effective Customer Analysis

An effective customer analysis involves a thorough research process that focuses on customer pain points, goals, and insights on what influences their buying decisions. This process begins with identifying your target market, which is crucial in ensuring a successful business.

By analyzing customer demographics and examining customer behavior and purchasing patterns, businesses can tailor their marketing strategies and product offerings to address the specific needs and preferences of their target customers.

Identifying Your Target Market

Identifying your target market is the first step in conducting a comprehensive customer analysis. By precisely defining the target customer your company is serving, you can focus your marketing efforts and resources on the most profitable customer segments.

Small businesses with 10 to 50 employees located in large metropolitan cities on the West Coast can benefit from having a business plan. This plan should provide clear guidance and instructions for the successful execution of tasks, including target market analysis.

With a clear understanding of your target market, you’ll be better equipped to develop a targeted marketing strategy that resonates with your audience and drives sales.

Analyzing Customer Demographics

Analyzing customer demographics is crucial for tailoring marketing strategies to specific customer groups. By examining your current customer base, you can determine which demographics to focus on for future marketing efforts. Demographic information, such as:

• education levels

A comprehensive view of the messaging that is most likely to appeal to customers and the marketing channels that are most effective in reaching them can be achieved when customers seek multiple bids, as it provides valuable insights into their preferences and decision-making process.

By constructing a marketing strategy around the types of people who have already made a purchase, you can maximize the return on investment of your marketing budget.

Examining Customer Behavior and Purchasing Patterns

Analyzing customer behavior and purchasing patterns can yield valuable insights through customer behavior analysis. By monitoring customer interactions with your products and services, such as website visits, purchases, and customer reviews, you can identify customer needs and preferences and devise strategies to enhance customer retention and loyalty.

Additionally, understanding the drivers of customer decision-making is crucial for creating targeted marketing campaigns and product offerings that resonate with your target audience.

Utilizing Customer Analysis Results

Customer analysis results can be leveraged to enhance marketing strategies, drive product development and innovation, and strengthen customer retention and loyalty. By recognizing customer feedback and customer support requests, businesses can acquire advantageous insights into customer behavior and preferences, which can be utilized to provide direction to marketing and product development strategies.

In this section, we will explore how customer analysis results can be utilized to improve various aspects of your business.

Enhancing Marketing Strategies

Customer analysis results, including customer segmentation analysis, can inform targeted marketing strategies that lead to increased sales and revenue. By leveraging insights from customer demographics and behavior, businesses can create personalized marketing campaigns that resonate with their target audience. For example, a company catering to young professionals may focus its marketing efforts on social media platforms, while a company targeting older adults may prioritize direct mail or email campaigns.

By tailoring marketing strategies based on customer analysis, businesses can optimize their marketing efforts and achieve greater success.

Driving Product Development and Innovation

Insights from customer analysis can guide product development and innovation, ensuring that products and services meet customer needs and preferences. By understanding customer pain points and objectives, businesses can create new products and services that address these needs, resulting in increased customer satisfaction and loyalty.

Additionally, existing customer feedback can be utilized to refine existing products and services, making them more appealing to the target audience and driving business growth .

Strengthening Customer Retention and Loyalty

Understanding customer needs and preferences through customer analysis can help businesses improve customer retention and loyalty. By tailoring products and services to the specific needs and preferences of your target audience, you can enhance customer satisfaction and encourage repeat business.

Furthermore, by identifying gaps in the customer experience and optimizing touchpoints, businesses can improve the overall customer journey and nurture long-lasting relationships with their customers.

Tools and Techniques for Customer Analysis

To effectively conduct customer analysis, businesses can employ various tools and techniques, including data collection and analysis, creating buyer personas, and customer journey mapping. These methods enable businesses to gain a deeper understanding of their customers and make informed decisions regarding their products, services, and promotional activities.

In this section, we will explore the different tools and techniques that can be used in customer analysis.

Data Collection and Analysis

Data collection and analysis play a critical role in customer analysis, as they involve gathering information on customer interactions, demographics, and purchasing patterns. Businesses can utilize various methods for data collection, such as surveys, focus groups, and interviews, as well as analytics tools to track customer behavior online.

By analyzing this data through market research, businesses can identify trends, patterns, and areas for improvement, ultimately informing their marketing strategies and product development efforts.

Creating Buyer Personas

Creating buyer personas is an essential technique in customer analysis, as it helps businesses visualize their ideal customers and tailor marketing and product development strategies accordingly.

Buyer personas are fictional representations of major customer segments, taking into account factors such as:

• demographics
• professional status
• purchasing habits

By developing accurate and detailed buyer personas, businesses can ensure that their marketing campaigns and product offerings resonate with their target audience, leading to increased sales and customer loyalty.

Customer Journey Mapping

Customer journey mapping is an invaluable tool in customer analysis, as it enables businesses to identify gaps in the customer experience and optimize touchpoints to improve customer satisfaction and loyalty. A customer journey map is a visual representation of the stages a customer goes through when interacting with a business, from initial awareness to loyalty.

By understanding the customer journey and identifying areas for improvement, businesses can enhance the overall customer experience and nurture long-lasting relationships with their customers.

Case Study: Successful Customer Analysis in Action

A prime example of successful customer analysis in action is the Buxton case study. Buxton, a leading provider of customer analytics and consulting services, utilized customer analysis techniques to help businesses expand, grow, and market themselves more efficiently. Through a combination of data collection, buyer persona creation, and customer journey mapping, Buxton was able to gain a deep understanding of their client’s customers and develop targeted marketing campaigns that resonated with their audience.

As a result, their current customers experienced increased sales, customer loyalty, and overall business growth and success.

In conclusion, customer analysis is a powerful tool that can drive business growth and success by helping companies understand their target customers, tailor their marketing strategies, and develop products and services that meet customer needs and preferences.

By utilizing tools and techniques such as data collection and analysis, buyer persona creation, and customer journey mapping, businesses can gain valuable insights into their customers and make informed decisions that lead to increased sales, customer loyalty, and overall business success. Don’t miss out on the opportunity to unlock your business’s full potential – start conducting customer analysis today and reap the rewards.

Frequently Asked Questions

What is a customer analysis in a business plan.

A customer analysis is an essential part of a business plan, which identifies target customers and outlines how a product or service meets their needs.

It helps businesses understand their customers better, so they can create marketing strategies that are tailored to their target audience. It also helps them identify potential opportunities and threats in the market.

By understanding their customers, businesses can better serve their customers.

What is an example of customer analysis?

Customer analysis involves understanding consumers’ behaviors through observation and measurement of analytics, analyzing brand recognition and awareness, understanding how customers feel about the competition, and testing different customer acquisition approaches.

This process helps businesses better understand their target audience and develop strategies to reach them. It also helps to identify potential opportunities for growth and improvement. By understanding customer behavior, businesses can create more effective marketing campaigns and better serve their customers.

What should be included in a customer analysis?

A customer analysis should include details on the customer’s demographics, professional status, purchasing habits, values and goals, influences, and challenges. It should also assess their buying patterns, product usage history, spending habits, loyalty metrics, and more to gain an understanding of their wants, needs, pain points, and objectives.

What is the primary objective of customer analysis?

The primary objective of customer analysis is to recognize potential customers, prioritize customer segments, and inform marketing and product development strategies.

By understanding customer needs and preferences, businesses can create targeted marketing campaigns and product offerings that are tailored to the needs of their target audience. This helps to ensure that the company is reaching the right people.

How can customer analysis help improve marketing strategies?

Customer analysis provides valuable insights into customer’s needs and preferences, enabling businesses to create tailored marketing strategies that drive sales. It is an essential tool for effective marketing.

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Customer Profiling in 10 Easy Steps [+ Templates]

Updated: April 15, 2024

Published: April 07, 2023

Customer profiling is an essential aspect of serving customers. But what is customer profiling?

As a small business owner, I’ve found that understanding customers' specific demographics, tendencies, and pain points is indispensable in meeting their needs. To market and sell to customers effectively, I believe you must put yourself in the customer’s shoes, and customer profiling helps you do that.

What exactly is the definition of customer profiling, you ask? I’ve got you. Read on for a full breakdown of customer profiling, what it is, why it’s essential, and a 10-step guide to creating your customer profiles.

Continue reading or jump ahead:

• What is a customer profile?

Why is customer profiling important?

Customer profiling benefits, customer profile data.

• How to Create a Customer Profile (10 Easy Steps)

Customer Profile Templates

Customer profile examples, customer profile.

A customer profile is a data-driven document that describes your current customers. Profiles are based on surveys that gather purchasing behaviors, pain points, psychographic data, and demographics. A customer profile can help you find segments of customers with commonality so you can target them in your sales and marketing campaigns.

If you don't create customer profiles, you risk marketing to a nondescript audience, wasting time, and losing deals. Take it from me, someone who learned that lesson the hard way.

Defining your ideal customer entails gathering and analyzing data about your customers' characteristics, behaviors, attributes, and needs. This information is used to create profiles representing your customer segments.

Sounds great, right? But what is customer profiling exactly? Let's take a look at a sample below.

Customer Profile Sample

Download the Free Customer Profile Templates

Creating a customer profile can be simple. You can create a customer profile just like this one using our free customer profile templates.

With our templates, you don't have to start from scratch. Just fill in the blanks and use the data from your service software or surveys to create a complete consumer profile.

I’ve found these customer profile templates to be a valuable, time-saving tool when creating customer profiles for my business. In my experience, it’s always been beneficial to take advantage of time-saving resources like this that allow me to focus more energy on delighting customers.

Before creating a customer profile, consider your target audience .

If your company is in the B2B space, you'll need to include more detailed information about your customers, such as industry size, regional location, etc.

If you‘re in the B2C space, you’ll want to create a customer profile focused on the individual.

Let's take a quick look at each element of the above template.

8 Free Customer Profile Templates

Use these free templates to build out your customer profiles for your marketing, sales, and customer service teams.

• Long Customer Profile Templates
• Short Customer Profile Templates
• Designed Customer Profile Templates
• Simple Customer Profile Templates

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Products/Services Used

This section of the customer profile template describes which of your services your customers rely on and how they use them. You can also include other products or services customers use with your service.

If your product can be integrated with another service and customers are successfully meshing your service with another, add that to this section. This will help you better market to other companies or individuals later.

Demographics

Your customers‘ demographics are an essential piece of your customer profile. When writing this section, include your customer’s career, industry, location, and gender identity.

Sure, only some customers will fit your demographic mold, but having a general idea of basic customer information is extremely helpful for your company's bottom line.

I run a music backline rental company, and my customers range from High Schools to Weddings to Touring Bands. These different types of customers have various attributes, and I’ve found that outlining the demographics of each customer segment helps me better anticipate their needs.

Customer Benefits

Your customer profile should also include a list of benefits customers receive by using your product or service. How does your product or service provide value to your customers?

Think about how your product or service adds value for your customers and describe it in this section. The best way to answer this question is to ask your customer base. Compile and compare their answers and add a summary here.

Getting customer feedback requires convincing. I’ve personally discovered that offering an incentive such as a small discount or upgrade is a great way to encourage customers to deliver the feedback that is so valuable to your customer profiles.

Customer Pain Points

While surveying customers, I like to ask about their pain points, which, ideally, I can solve.

Be sure to list pain points that you can actually solve for your customers. You'll want to focus on these pain points in your customer profile.

Finding the Ideal Customer Profile For Your Business

When I realized I could use my already existing customers as a model for my customer profiles, it was like a lightbulb going off over my head.

Rather than coming up with ideal, imaginary attributes for buyer personas, I found it much more straightforward and more realistic to analyze the characteristics of the customers I already work with and segment that data to uncover the customer profiles that were there all along.

While a buyer persona provides a fictionalized individual who represents your customers, a customer profile is rooted in the data and factual information of your customer base.

Everything you need to know about a group of customers is captured within this one description. For this reason, a customer profile comes first, and then you build a buyer persona from it.

Once you've defined these qualities of your target audience, you can segment your customer base into different customer profiles.

Customer Profiling

Customer profiling is the act of describing a customer or set of customers using demographics, psychographics, buying patterns, and other factors. In other words, it's identifying the characteristics of the people most likely to purchase your product or service and derive a lot of value from it.

When building a business, developing a go-to-market strategy, or giving your sales team direction, clearly describing your current customers is essential.

I’ve found that the customers most likely to purchase from me in the future are often quite similar to customers who I’ve worked with in the past. Coincidence? I think not.

Customer profiling helps you identify buyers likely to purchase from you, which is more valuable than targeting everyone everywhere. My experience has taught me that taking an informed, targeted approach to customer acquisition is far more effective than casting a wide net.

Trying to build something that solves 100% of the problems for 100% of the market is called “boiling the ocean.” You're “boiling the ocean” when your customer profile is too broad.

The irony is that targeting a broad audience solves only a few problems for only a few people. You end up spreading your product offering too thin and diluting your value across too many customers.

Customer profiles act like guard rails for product managers as they develop a new product, marketers as they craft positioning strategies, and salespeople as they search for potential customers.

Customer profiling is incredibly beneficial for all teams and your business members — let's look at the benefits in more detail below.

Creating customer profiles is crucial for taking your business to the next level. 66% of customers expect companies to understand their needs; customer profiling helps you do that.

A properly executed customer profiling strategy has far-reaching benefits across your entire organization. Read on to discover the many benefits of customer profiling.

It helps all departments become more efficient.

The benefits of customer profiling are impactful across your entire company. Each department in your company will use your customer profiles differently, but they will improve the bottom line.

• Marketing: Understanding the client is vital to creating engaging advertisements or emails for potential prospects and current clients. Marketers use customer profiles to customize messaging to most effectively speak to customer needs.
• Sales : With a customer profile in hand, your sales team will be able to highlight customer pain points and help better sell your product or service as the solution to their problems. Your sales team may even use the customer profile to find ways to create connections with current and future clients.
• Support: The customer profile contains all the necessary information your customer service team will need to assist clients in need. It can act as a record of queries, complaints, and previously tried solutions. This will help save time for your customer service team and keep everyone involved from becoming frustrated.

It allows you to identify better-fit prospects.

By knowing who benefits from your products the most, your organization can find better prospects and increase close rates.

If you're part of the service team, this might not mean much to you. But remember: A better-fit prospect is a happier customer down the line.

It lowers customer acquisition cost.

Customer acquisition cost (CAC) is the money you spend on marketing and sales campaigns to attract a single customer. Implementing customer profiling allows you to focus your efforts on people who are more likely to become customers, which brings customer acquisition costs down in the long run.

I’ve personally discovered this to be true when running social media ads for my business. A well-defined customer profile meant I could target the right people online and lower my ad spend.

It empowers you to serve customers better.

Knowing your customers is critical to serving them better. I found this accurate, having worked on the Support Team at HubSpot at the beginning of my career. We always kept detailed notes on each customer, including the issues they had in the past and their needs/goals. Armed with this information, I was much better equipped to meet customers where they were and guide them to success.

By documenting customer pain points, attributes, and characteristics, you can deliver a superior customer service experience before they ever request help.

You can predict issues before they arise, provide practical self-help resources, and better align with their needs if they reach out to your service team.

It reduces customer churn.

Customer churn refers to losing customers. We can all agree we want to keep that number as low as possible!

By creating strong customer profiles from the start, you can attract and serve customers who actually want to use your product or service — reducing customer churn in both the short and long term.

Now that you know the benefits of customer profiling, which data should you gather for your customer profiles?

Let's take a look.

A refined customer profile can help you find and attract more people likely to buy your product, develop a stronger relationship with your customers, build more impactful features, and put you on a better trajectory for market dominance.

It’s clear that customer profiling is valuable and effective, but how do you start? It’s easy to feel overwhelmed with so much customer data at your fingertips, but fret not; I’ve got you covered.

Below are the four different types of customer profile data you should be gathering:

Demographic

Demographic data are the concrete characteristics of a customer and can be used to understand consumer behavior, albeit broadly.

Demographics include the following traits (and more):

• Education level.
• Family status.

If you're in the B2B space, consider attributes such as company size, industry, and other organizational characteristics.

For example, my music backline rental business is technically B2B, and my customer demographics are segmented by Events such as Weddings/Bar Mitzvahs/Graduations, Music Festivals, and Touring Artists who can’t travel or fly with all their gear. Each type of customer has different needs, and understanding customer segments helps me anticipate and meet them.

Psychographic

Demographics alone aren‘t enough to understand how, when, and why people make purchasing decisions, and that’s where psychographics come in.

These factors relate to the attitudes and psychological makeup of a customer and may include:

Psychographics help you understand the buying journey and even the customer journey after they've already purchased from you. Psychographic segmentation in email marketing can raise open rates by up to 30% and increase conversion rates by an average of 25%

While psychographics relate to psychological attributes, behavioral segments look at how that's manifested in action.

You may consider segmenting by:

• Engagement.
• Readiness to buy.
• Purchasing history.
• Product usage.
• Satisfaction.
• Loyalty or account age.
• Attention required.

Segments based on behavioral traits are some of the most valuable in customer support. It can help service teams find insights about customer interaction and how these trends manifest into recurring revenue and satisfaction rates.

And once those things are measured, they can be improved. In other words, keeping a close eye on both sales and customer service data is necessary to get concrete details about your consumer base’s behavior. An all-in-one platform that blends sales tools with customer service and marketing features makes this process a lot easier — you get easy access to analytics data across multiple departments, along with the tools necessary to act on that data. 

Geographical factors are relevant when location affects how customers interact with a brand or receive their products.

Here are popular ways to segment based on geography:

Gaining insights based on geography can help your organization think through logistics, support implementation, and marketing.

The relevance of Geographical data varies depending on the type of business you run. In my experience running a music backline rental company, geographic data is hugely relevant because I can only serve customers within a certain radius of where my gear is located.

However, if you run a software business or sell products online, geographical data has a different level of relevance. Regardless, knowing where your customers are is helpful in understanding more about them and their needs.

Once you have this data, you can profile customers based on specific types or “segments.”

Segments help you unearth trends in satisfaction, churn, and lifetime value that help you understand more about your ideal customer profiles.

How to Create a Customer Profile

• Use customer profile templates.
• Choose your customer profiling software.
• Dig into demographics.
• Collect customer feedback.
• Review your customer journey map.
• Focus on the problem that your business is trying to solve.
• Examine contextual details.
• Understand your industry.
• Build personas.
• Analyze and iterate on customer personas.

1. Use customer profile templates.

You can shorten the customer profiling process by downloading and using pre-made templates .

You won‘t have to develop different sections for your customer profiles. Instead, you’ll have them pre-written for you. The only thing you have to do is fill in the blanks.

We go into more detail about what you‘ll find in these templates later in the post. But if you can’t wait (we don't blame you), download them now and follow along as we cover the rest of the steps.

Featured Resource: Customer Profile Templates

Download Your Free Templates Here

2. Choose your customer profiling software.

Once you start creating customer profiles, you'll need several types of software.

Remember, you must collect data from your current customer base to create effective and accurate profiles.

Let‘s go over the tools you’ll need.

If you don't have one already, you should start using a CRM to keep track of contact data. Your CRM is going to be the foundation of your customer profiling operation. Companies that use a CRM see an average ROI of $8.71 from money spent on the software.

A CRM allows you to collect all the essential information you need about your customers, such as their name, business name, location, business type, and more.

Are you looking for a great, easy-to-use, free CRM trusted by thousands and thousands of businesses? We’ve got you covered:

Get started with the HubSpot CRM platform for free and track contact data now.

Customer Feedback Software

The next most important piece of software you need is a survey tool that will help you collect additional data about your customers — data you won't necessarily have stored in your CRM.

After choosing a survey tool, you should get familiar with running questionnaires and designing questions that get you the answers you need.

I’ve found that customer feedback is indispensable in discovering what customers are happy with and where they see room for improvement.

“Customers often know more about your products than you do. Use them as a source of inspiration and ideas for product development.”― David J. Greer.

I like this quote from author David J. Greer because it highlights that the customer is king. Customers are the ones who use and benefit from your products, so who better to turn to for inspiration on how to satisfy their needs better?

Hot tip : HubSpot's customer feedback software can help you set up effective surveys, and the results will be stored right within the CRM.

Analytics Software

While analytics software may seem like something only a marketing team needs, it's critical for your customer profiling efforts.

It will help you understand the content your prospects most respond to, and it will unearth the types of customers who are visiting certain product pages on your website.

“A good place to start is with listening projects, where customer data and analytics are used to find the voice of the customer and identify where they are satisfied and dissatisfied.” - Jenny Sussin .

I’m a big fan of this quote from Jenny Sussin because it describes how the customer profile already exists, and you can sift through the data to uncover it.

Pro tip: HubSpot‘s analytics software keeps all of your customer interaction and engagement data in one convenient interface. And it’s connected to your CRM, too.

3. Dig into demographics.

You've got the customer profile templates and the software you need to start account profiling.

To define your customer profile, start by examining external demographics. Then, dive deeper into needs and look at your company's offering.

Here are some external attributes you can use to define your customer profile:

• What market does your product best serve?
• What specific vertical do they operate in?
• What is their annual revenue?
• How many employees do they have?
• Where are these companies located?

4. Collect customer feedback.

After detailing the demographic landscape, it‘s time to dive deeper into gathering customer feedback. It’s easy to want to rely solely on the demographic data you get from your CRM for customer profiling. However, truly knowing your customers goes beyond the data in your CRM and necessitates engaging with them directly.

You need to meet your customers to understand what they‘re like. Accordingly, customer surveys and interviews are the best resources to build your customer profiles. Through customer interviews, you can speak with customers face-to-face, which enriches real human connections and allows you to interpret non-verbal cues in real time. This type of direct interaction helps uncover valuable information that raw data simply can’t show.

If you can‘t reach a specific group of customers face-to-face, consider setting up a phone or video call. While it’s less engaging than an in-person interaction, it's still an effective way of reaching your target audience.

If your customers are willing to schedule a call with you, you know they‘re loyal users and are worth the time investment. The more attention you pay to these customers, the more you’ll have in the future.

85% of people say they’ll likely provide feedback when they’ve had a good experience ( SurveyMonkey ), so if you treat your customers right, they will likely help you out in return.

In my experience, nothing beats building relationships with customers and getting to know them in real life. In my line of work, I spend a lot of face-to-face time with customers, which is invaluable in understanding their needs and the products/services they expect from me.

Consider cross-referencing data from your ticketing system with customer details for your CRM. This gives you further context on which customer segment is more likely to experience what issues — ideal for proactive customer service. A unified solution that packs all these details in the same place helps you with just that.

5. Review your customer journey map.

As you begin examining your customer profile data, you should contextualize it using your customer journey map.

A customer journey map is a document that outlines every touchpoint a customer must pass through to achieve a goal with your company.

While these take time to complete, they paint a detailed picture of who's buying your products and interacting with your brand.

However, you don‘t need to complete a customer journey map to create a customer profile. Simply considering the customer’s journey will help you understand who you're trying to reach.

Interacting with prospects through live chat is also a clever tactic to grasp how they progress through the customer journey. This way, you encourage consumers who are interested in your company to engage with you directly.  At the same time, you get concrete evidence regarding their pain points and what makes them see your business as a potential solution.   

By understanding their needs, challenges, and goals, you'll develop a stronger sense of what your customers want from your business. You can even take this one step further by interviewing customers about each stop on your map.

When creating HubSpot's customer journey map, we asked users how they felt about specific points in the customer experience. Then, we charted these stories on the map to see how customer perceptions changed.

This gave us a good idea of what our customers liked and didn't like about our products.

6. Focus on the problem that your business is trying to solve.

It’s easy to get lost with such a wealth of data. If you find yourself overwhelmed, return the focus to the problem your business is trying to solve.

Identify the type of people who face this challenge. Take a close look at your current users and their behavior.

The common denominator between these approaches is people. It doesn't matter if you only have a few customers or are well on your way to 10,000. You need to understand who your customers are and the problems they are having to solve for them best.

7. Examine contextual details.

Once you've defined the external factors that describe your customer profile, it’s time to dig deeper into contextual details.

For example, if I‘m running a SaaS company, I’d want to understand the following things about my customer:

• How big is their team?
• What are the biggest challenges they face?
• What technology are they using?
• What are their goals for the next three months?
• What are their goals for the year?
• How do they assess problems?
• What does a perfect world look like for them?
• What impact does the specific problem have on their team?
• How are they trying to solve the problem today?

I could find the answers with concrete data from customer service software. I would look into my knowledge base and customer portals to identify common questions and issues. 

You should fully grasp your potential customers' general makeup and goals based on these external factors and contextual details.

The final step is to look internally to see how you can help them based on all this information.

Below are some key questions to answer when completing your customer profile:

• What value can you provide these customers? (Save them money or time, grow revenue, etc.)
• Can you solve their key pain points?
• What are the features that differentiate you from competitors or a homegrown process?
• How does your solution fit into their short- and long-term goals?

8. Understand your industry.

One significant contextual detail you should consider is where your brand falls compared to others in the industry.

You should know how your customers perceive your brand and which companies you're competing with for their attention. This should give you a good idea of the type of customer you want to attract and retain.

Understanding your industry also helps you define your brand identity. If you're going to stand out, you need to find a way to differentiate your product and services.

If you know which marketing strategies your customers already respond to, you can mirror your competitor's successful techniques for introducing and educating customers about a new product or feature.

My experience has taught me that understanding my niche is vital. There are plenty of music backline rental providers on the market, many of which are larger and more established than I am. However, I differentiated myself as an individual who provides white-glove, personalized service, compared to larger providers who can’t offer a personal touch.

Buyer Persona Templates

Organize your audience segments and make your marketing stronger.

• Learn about personas.
• Conduct persona research.
• Create targetted content.
• Build your own personas.

9. Build personas.

Remember that you're serving people with actual personalities, feelings, and needs.

Once you've identified the attributes for your customer profile, the next step is to identify the individuals within the company that you want to reach .

This will be helpful when trying to establish a relationship with the account and understand who the decision-makers and influencers are.

Here are some key things to uncover about the people in your customer profile:

• Education level
• Income level
• How will they use your product/service?
• What marketing channels can you use to reach them?
• What are the key responsibilities of their role?
• What role do they play in the decision-making process?

If you need a tool to help you build, visualize, and share your personas, try HubSpot's Make My Persona tool.

“Personas are often met with opposition because they're a lot of work to assemble, and once assembled, they are living, evolving things that must be maintained. Like people, buyer personas change over time with the market, the times, the ebbs and flows of products and services.” - Justin Gray .

10. Analyze and iterate on customer personas.

A clearly defined customer persona is a cornerstone of business growth. The definition of your customer persona will act as a guide when informing what products or features to build, what channels to use in a marketing campaign, and much more.

Without it, you risk offering a product or service that doesn‘t meet any potential customers’ specific needs. Or you end up marketing to prospects in a way that doesn't resonate with their understanding of the problem.

Your goal should be to sync up your business strategy with your customer personas to incorporate everything from your features to your go-to-market approach, ensuring it aligns with your customer's needs.

As you build your customer profile, gather the external factors, qualify the contextual details, and develop a deep understanding of how your business adds value to each customer type.

But remember: You don't have to start from scratch. You can use templates to compile your consumer profiles.

B2B vs. B2C Customer Profiles

B2B and B2C companies both benefit from the use of customer profiles. However, they differ in their focus and approach to the matter.

B2C companies cater to a much more comprehensive demographic range than B2B and will focus on demographic data such as age, marital status, location, income, etc.

Meanwhile, B2B businesses need to think about two categories. Firstly, they must consider firmographic data such as company size, budget, and industry.

B2B businesses must consider individuals as well. B2B teams should make customer profiles for both users and decision-makers at their target organizations.

Take me, for example. When renting out backline gear for a concert, the person who coordinates and purchases the rental (perhaps a tour manager) and the musician who uses the gear are typically two different people. Still, I must understand both individuals to ensure a successful job overall.

We've created customer profile templates you can use to walk you through these steps. You can download them here .

Download your free templates now.

Inside this kit, you'll find:

• A short customer profile template. This one-page template helps you lay out all the basic information about your customer. It gives you space to list your customer's demographics, pain points, retention tactics, and preferred products and services.
• A long customer profile template. This two-page template gives you more space to define your customer profile. It‘s ideal for B2B account profiles. You can list external attributes, such as the customer’s industry and internal attributes.
• A colorful customer profile template. This template is ideal for B2C industries where customers interact face-to-face with your staff members. You have space to list user behaviors, frustrating interactions, and customer communication notes.
• A corporate customer profile template. This template allows you to list a professional overview of your ideal customer, as well as challenges, benefits, and restraints. We recommend this template for more corporate environments due to its color palette.
• A simple customer profile template. This template lets you list your ideal customer's background, decision-making process, product preferences, wants, goals, and behaviors in easy-to-scan boxes.
• A modern customer profile template. In this template, you have space to list your target customer‘s company goals, team challenges, and retention tips. We recommend this template for B2B companies because you’ll be profiling an entire organization.
• A buyer's journey customer profile template. This template is unique because it gives you space to outline your ideal customer's discovery story — that is, how they found you and what their research process was like. You can also list their goals and pain points.
• A segmented customer profile template. If you'd like to create different segments as you profile your customers, this is the template for you. It lets you list critical information such as goals, benefits, and product constraints in a chart.

Do you need help with what your customer profile can look like?

Below, we list alternative consumer profile examples with methods that you can use to list your ideal consumer's attributes.

If you need help figuring out where to start, look at these top customer profile examples for a granular and overarching overview of your customers.

1. Scorecard

Customer profiles can vary depending on your company's needs and preferences. Some companies format customer profiles as a scoring system to determine whether a prospect fits the business.

The above example uses the BANT framework. The BANT framework helps salespeople assess prospects and gives them a score for each criterion ranging from zero to two.

If the total score meets a preset benchmark, that’s a green light for sales to reach out.

2. Segmentation

A segmented customer profile recognizes not every prospect is the same. What one customer needs from your business may differ from the next, and your customer profile definition is mutable. Each customer type is broken down by demographics, core values, and preferred communication channels in a segmented customer profile.

It includes a summary describing how the marketing team should advertise to these individuals.

With this information readily available, your marketing team can work alongside customer service to create effective campaigns that resonate with each segment of your customer base.

3. Basic Information

Download this Template

A basic information customer profile is just that — basic. This customer profile, available in our free customer profile templates , cuts right to the point.

It lists the fundamental information we need about each customer type, including background data, demographics, and pain points. I’ve found that the basic customer profile format is the easiest to get up and running, and you can always expand to a more involved customer profile type as you grow.

Download a free, editable copy of this customer profile example .

4. Buyer Persona

To construct a buyer persona customer profile, you must survey your current clients to understand their general buying personality.

It's important to note that the buyer persona usually comes after you know your customer profile.

Nonetheless, many buyer persona builders can get you thinking critically about your ideal customer by asking valuable qualitative questions.

Buyer personas can greatly enhance marketing efforts. Brands that utilize buyer personas have seen a 100% increase in web page visits , a 900% increase in visit duration, a 111% increase in email open rates, and a 171% increase in marketing-generated revenue.

Use HubSpot's Make My Persona tool as a starting point for mapping and profiling your customers.

5. Demographics, Psychographics, and Behaviors

A customer profile can be as detailed as you need it to be.

Many marketers find that the more they know about their audience, the better their chance of engaging with a prospect and making a sale.

Gathering demographics, psychographics, and behaviors in one document gives you an overview of your most profitable customers.

Write your answers in bullet points or paragraph format, and you‘ll be able to understand your customers’ purchasing behaviors better.

Customer Profiling Will Improve Your Service Experience

By creating thorough customer profiles, you can target better customers in your sales and marketing campaigns, reducing customer churn and resulting in happier customers later down the line.

The more detailed your profile, the more value you can extract from it, making your marketing, sales, and service experiences more effective and valuable for your customers.

Editor's note: This post was originally published in December 2018 and has been updated for comprehensiveness.

Don't forget to share this post!

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Free templates to build customer profiles for your marketing, sales, and customer service teams.

Service Hub provides everything you need to delight and retain customers while supporting the success of your whole front office

Resource Library

Introduction to customer analysis.

A customer analysis (or customer profile) is a critical section of a company’s business plan or marketing plan. It identifies target customers, ascertains the needs of these customers, and then specifies how the product satisfies these needs.

Customer analysis can be broken down into a behavioral profile (why your product matches a customer’s lifestyle) and a demographic profile (describing a customer’s demographic attributes).

A customer profile is a simple tool that can help business better understand current and potential customers, so they can increase sales and grow their business. Customer profiles are a collection of information about customers that help determine why people buy or don’t buy a product. Customer profiles can also help develop targeted marketing plans and help ensure that products meet the needs of their intended audience.

Behavioral Analysis (Customer Buying Criteria)

A behavioral analysis of customers (or psychographic profile) seeks to identify and weigh the relative importance of factors consumers use to choose one product over another. These factors, sometimes called buying criteria, are key to understanding the reasons that customers choose to buy your product (or service) versus the products offered by your competitors. The four major criteria that customers use to distinguish competing products are: price, quality, convenience andprestige.

In consumer transactions, price and quality tend to be the dominant factors. However with business-to-business (B2B) transactions (also called industrial marketing), service issues such as reliability, payment terms, and delivery schedule become much more important. The sales transaction in an industrial marketing scenario also differs from consumer marketing in that the purchase decision is typically made by a group of people instead of one person, and the selling process can be much more complex (including stages such as: request for bid, proposal preparation and contract negotiations).

By identifying customer needs through market research and analysis, companies can develop a clear and concise value proposition which reflects the tangible benefits that customers can expect from the company’s products. And once the primary buying criteria have been identified, marketing efforts can influence the customer’s perception of the product along the four main dimensions (price, quality, convenience and prestige), relative to the competition’s product.  

Behavioral Analysis (Purchase Process and Patterns)

Occasionally, customer behavior analysis requires a more in-depth understanding of the actual decision-making process of the customer purchase. This may be especially true in an industrial marketing scenario. Examples of purchase process questions to be answered here include:

* What steps are involved in the decision-making process? * What sources of information are sought? * What is a timeline for a purchase (e.g., impulse vs. extended decision-making)? * Will the customer consult others in their organization/family before making a decision? * Who has the authority to make the final decision? * Will the customer seek multiple bids? * Will the product/service require significant modifications?

Behavior profiles can also focus on actions, such as: which types of items were purchased, how frequently items are purchased, the average transaction value, or which items were purchased in conjunction with other items. To understand the buying habits and patterns of your customers, answer the following questions:

* Reason/occasion for purchase? * Number of times they’ll purchase? * Timetable of purchase, every week, month, quarter, etc.? * Amount of product/service purchased? * How long to make a decision to purchase? * Where does the customer purchase and/or use the product/service?

Customer Demographics

 The second major component in customer analysis is identifying target market segments that are predisposed to preferring your products over those of your competitors. A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. A marketing program aimed at individual segments needs to understand and capitalize on the group’s differences and use them strategically in all advertising campaigns. 

Gender, age, ethnicity, geography and income are all market-segmenting criteria based on demographics.  

Typical questions to ask when determining the demographics of the target market include: * What is the age range of the customer who wants my product or service?  * Which gender would be most interested in this product or service?  * What is the income level of my potential customers?  * What level of education do they have?  * What is their marital or family status: Are they married, single, divorced? Do they have kids, grandkids? * What are the hobbies of my target customers?

The target market segments are specified by demographic factors: age, income, education, ethnicity, geography, etc. Then by having a well defined set of demographic factors, marketing will be able to identify the best channels to reach these specific demographic segments. 

Customer Analysis Example

Customer Analysis References

Market Analysis {U.S. Small Business Administration (SBA) Website’s content on Marketing Analysis} http://www.sba.gov/content/market-analysis

“Analyzing Customers in Your Business Plan” 2011 {Growthink, Inc.} http://www.growthink.com/businessplan/help-center/analyzing-customers-your-business-plan

Related Resources

Keyword Advertising

A guide to keyword advertising: online advertising that uses search engine keywords to trigger contextualized ads.

Google AdSense

A guide to Google AdSense: a free, simple way for website publishers to earn money by displaying targeted Google ads on their websites.

Online Advertising Networks

Ad networks are primarily involved in selling space for online ads. This online advertising inventory comes in many different forms, including space on websites, in RSS feeds in e-mails, and on other sources.

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Products & Services Section in a Business Plan (+ Examples)

• March 21, 2024
• Business Plan , How to Write

In this blog post, we’ll guide you through writing the products and services section of your business plan. We’ll cover how to describe what you’re selling and why it’s important in your business plan.

Whether you’re launching a new startup or creating a business plan for an existing business, this section is crucial for showing the value you bring to customers. Let’s get started!

Why do we include them in a business plan?

The products and services section of a business plan is more than just a list of what a company sells; it’s a vital narrative that tells the story of the business’s core offerings and their significance to the market.

This section is paramount for readers (especially potential investors) to grasp the essence of what the business is about, the unique problems it solves, or the specific needs it addresses.

A meticulously crafted products and services segment does much more than describe offerings. Indeed, it lays the groundwork for comprehensive marketing strategies , informs operational planning, and financial projections.

Moreover, understanding the business’s offerings in depth enables stakeholders to envision the company’s value proposition and competitive edge.

Where should you include them?

In a business plan, the Products and Services section is typically included within the business overview section.

This allows you to first introduce the business model and what it offers to customers. Only after this you can provide more details of the products and services.

The Products and Services section should clearly detail what you are selling, highlight the unique value proposition . It should also ideally explain how it meets the needs of your target market if it isn’t obvious. T

What to include: 2 Examples

Begin with a clear, engaging description of each product or service you offer. For services, describe the process, customer experience, and outcome. For products, discuss the materials, technology, and any unique features.

Services example: a Cryotherapy business plan

Products example: a Brewery business plan

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How to create a customer profile to reach your target audience

Successful business owners and marketing managers share a common understanding — you can’t reach your target customers if you don’t know who they are. That’s why they build ideal customer profiles.

But without the right tools, this can be a challenging, time-consuming process. That’s where a customer profile template and a customer relationship management (CRM) system come into play.

In this guide, we’ll discuss the benefits of creating customer profiles and using customer profile templates, highlight some examples, and show you how monday CRM can help you build a comprehensive customer profile.

What is a customer profile?

A customer profile is a detailed representation of a company’s ideal customer based on data-driven insights about their characteristics, behaviors, preferences, and needs. It serves as a strategic tool to guide marketing, sales, and product development efforts by providing a comprehensive understanding of the target audience.

Key components of a customer profile

Businesses may have multiple customer profiles — particularly if they have multiple service offerings or product lines with different types of customers — all of which should include:

• Demographics. Age, gender, location, income level, education, marital status, and other relevant demographic details.
• Psychographics. Values, interests, lifestyle, personality traits, and attitudes that influence purchasing decisions.
• Behaviors. Purchase history, product usage patterns, preferred channels, engagement levels, and buying journey touchpoints.
• Pain points. Challenges, frustrations, or problems the customer aims to solve with the company’s products or services.
• Goals and motivations. Desired outcomes, aspirations, and driving factors behind their purchasing decisions.
• Preferences. Preferred communication channels, content formats, pricing sensitivities, and other relevant preferences.

Customer profiles vs. customer personas

Customer profiles and customer personas are related but distinct concepts used in marketing and sales to understand and effectively target potential customers.

While a customer profile is based on known data and refers to the type of business or person you want to sell to, a customer persona , or buyer persona , is a semi-fictional representation of an individual buyer within a target company or customer segment.

What are the benefits of creating customer profiles?

Creating customer profiles offers several key benefits for businesses:

1. Enables targeted and personalized marketing

Customer profiles provide insights into demographics, behaviors, preferences, and needs, allowing businesses to tailor marketing campaigns, messaging, and offers to specific customer segments. This leads to higher engagement, conversion rates, and marketing ROI.

2. Guides product development

By understanding customer pain points, goals, and preferences, businesses can develop products and services that better meet customer needs and increase customer satisfaction and loyalty.

3. Improves customer acquisition and retention

With a deep understanding of their target audience’s characteristics and behaviors, businesses can optimize customer acquisition strategies and enhance retention efforts by delivering personalized experiences.

4. Optimizes resource allocation

Customer profiles help identify the most valuable customer segments, enabling businesses to focus their resources and marketing spend on the most promising prospects, improving efficiency and profitability.

5. Enhances customer experience

By tailoring interactions, communication channels, and offerings based on customer preferences and behaviors, businesses can deliver a superior customer experience and foster loyalty and advocacy.

6. Enables data-driven market expansion

Customer profiles provide insights into current market penetration and untapped opportunities, allowing businesses to develop data-driven strategies for expanding into new markets or customer segments.

7. Facilitates account-based marketing

For B2B companies, customer profiles at the company level help identify ideal target accounts and tailor account-based marketing strategies to specific organizational needs and decision-makers.

Overall, customer profiling is a powerful tool that allows businesses to comprehensively understand their target audience, align their offerings and strategies with customer needs, and deliver personalized experiences that drive engagement, loyalty, and revenue growth.

Why use a customer profile template?

Using a customer profile template enables businesses to efficiently gather, organize, and analyze customer data, leading to a deeper understanding of their target audience. This information allows them to build more effective marketing, sales, and product development strategies, and leverage advantages such as:

1. Ensures comprehensive data collection

A well-designed template with predefined headers and fields guides you to capture all relevant information about your target customers, including demographics, psychographics, behaviors, preferences, goals, and pain points. This comprehensive data provides a holistic understanding of your audience.

2. Promotes consistency

A standardized template ensures consistency in the data collected across different customer segments or products/services. This consistency enables accurate comparisons and analysis, leading to better-informed decisions.

3. Facilitates collaboration

When multiple teams or departments use a standard customer profile template, it fosters collaboration and alignment. Everyone works with the same customer dataset, enabling coordinated efforts in marketing, sales, product development, and customer service.

4. Saves time and effort

Creating a customer profile from scratch can be time-consuming and prone to errors or omissions. A well-designed template streamlines the process, saving valuable time and effort while ensuring no critical information is overlooked.

5. Enables scalability

A customer profile template allows for efficient and scalable data collection as businesses grow and expand into new markets or customer segments. The template can be easily replicated and adapted for new target audiences.

6. Facilitates data analysis

Many customer profile templates integrate with data analysis tools or customer relationship management (CRM) systems, which enables businesses to analyze customer data more effectively, identify patterns, and derive actionable insights.

7. Provides a structured framework

A customer profile template provides a structured framework for organizing and presenting customer data. This approach makes communicating customer insights across teams and stakeholders easier and enables data-driven decision-making.

What are some examples of customer profile templates?

If you’re not sure where or how to get started, here are some examples of customer profile templates to inspire you.

Simple customer profile template

Though the general rule with customer profiles is “the more information, the better,” you certainly don’t have to create multi-page documents describing every habit and characteristic your ideal customer might exhibit.

This template is a great example of how a simple customer profile can still offer actionable insights. As you’ll notice, it includes the most crucial customer information, such as:

• Demographic: background information
• Psychographics: decision-making process
• Product alignment
• Goals and desires
• Behaviors and tendencies

( Image Source )

Hierarchical customer profile template

A great way for your sales team to score leads and prioritize outreach is to compare them against a hierarchy of fitness. That is, you create several customer profiles that indicate different levels of fit for your company, with the most complete fit being your ideal customer profile.

This customer profile template example follows that approach. It includes a “no fit” profile — also known as a negative persona — where you can detail behaviors, characteristics, or demographics that determine when a potential customer isn’t a great fit for your company.

Visual customer profile template

This customer profile template is another one that takes a straightforward approach and lays out the required information in a clear, visual format. Your sales and customer service teams may find it helpful to include a stock image or caricature of your ideal customer to help them visualize who they’re talking to — this can be particularly helpful for employees who only engage with customers over the phone.

At the bottom of the template, you have the opportunity to write a brief description of your customer. Narrative approaches like this make information easier to digest, making your customer profiles more relatable.

How monday CRM can help you create a comprehensive customer profile

Customer relationship management (CRM) systems, like monday CRM , enable you to analyze your existing customer data more effectively, identify patterns, and derive actionable insights.

Here are the key steps in creating a comprehensive customer profile.

1. Collect customer data

Creating a customer profile begins with collecting detailed information about your current and potential customers, including:

• Demographic data — age, gender, location, income, education, etc.
• Psychographic data — values, interests, lifestyles, personalities, etc.
• Behavioral data — purchase history, product usage, channel preferences, etc.
• Feedback and survey responses directly from customers
• Website and social media analytics on customer interactions

You can leverage multiple data sources like your CRM, analytics tools, customer surveys and interviews, and third-party data providers to build a robust customer dataset.

For example, with monday CRM, you can keep records of your contact and account information and access all past interactions, deals, and projects associated with an account or contact in a visual format.

2. Analyze the data

Once you’ve collected your customer data, analyze it to identify patterns, segments, and key insights about your customers’ needs, motivations, behaviors, and preferences. Using the data analysis tools in monday CRM, you can access the customer insights you need with visual real-time dashboards and reports.

3. Identify customer segments

Based on your analysis, identify distinct customer segments that share similar characteristics, behaviors, and needs. Creating separate profiles for each key segment allows you to tailor strategies more effectively. Common ways to segment include demographics, psychographics, behaviors, buying journeys, and firmographics for B2B customers.

4. Build the customer profile

For each identified segment, create a detailed customer profile capturing the key demographic, psychographic, behavioral, and other relevant traits of that ideal customer group. Organize the information in an easy-to-reference format, such as a customer profile template or presentation deck, to facilitate sharing across teams.

Using our WorkCanvas integration, teams can quickly brainstorm,plan, visualize, and build customer profile templates on one collaborative whiteboard that syncs directly with monday.com. It’s an ideal way to save precious time by synchronizing all communications and feedback without switching bewtween platforms.

And with monday CRM, you get a consolidated single source of truth, so users from various teams can access the same information.

5. Share and update customer profiles

Share the completed customer profiles across marketing, sales, product, and service teams to align everyone around a common understanding of the customers. Regularly review and update the profiles as customer needs, behaviors, and market conditions evolve over time to ensure they remain accurate and actionable.

Build your ideal customer profile today

Creating customer profiles can be straightforward as long as you have the right tools. With monday CRM you get a single repository with all your customer data, where you can collaborate and build your customer profile templates visually.

Try monday CRM today with a 14-day free trial.

How do I gather data for my customer profile?

You can gather data for your customer profiles by analyzing customer behavior on your CRM, website, and social media accounts, examining transactional data and purchase histories, and running customer surveys.

Can I have multiple customer profiles for different customer segments?

Yes, it's common for businesses to have multiple customer profiles for different segments. This allows you to tailor your marketing, products, and services more precisely to the needs of each distinct customer segment.

What are some common mistakes to avoid when creating a customer profile?

Some critical mistakes to avoid when creating a customer profile include relying too heavily on assumptions instead of actual customer data, failing to update profiles as your customers and market evolve, and having an incomplete profile that doesn't capture all relevant customer details like demographics, behaviors, preferences, and goals. 

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6 Real-Life Target Audience Examples to Help You Define Your Own (B2B and B2C)

Target audience research allows you to better understand your potential customer(s) and their underlying pain points.

The more you drill down into your high-value audience groups through strategic market segmentation, the closer you are to your next sale.

Learn the ins and outs of target marketing with plenty of examples to inform your strategy.

What Is a Target Audience?

How a target audience differs from a buyer persona, how psychographic and demographic data informs marketing campaigns.

• How To Analyze and Define Your Target Audience

Do Target Audiences Vary by Channel?

3 b2b target audience examples.

• 3 B2C Target Audience Examples

A target audience is a group of consumers within a predefined target market that has been identified as the best recipients for a particular marketing message. And a target market broadly describes B2C or B2B consumers who care about your product or service and, under the right conditions, are most likely to spend money with your company.

An audience is a segment within that market.

For example, the target market for an online bookkeeping tool might include businesses with over $500K in annual revenue.

So a target audience profile for our bookkeeping program might be technology stakeholders with influence on decision-makers at companies that haven’t reviewed their accounting software needs in over two years. It’s much more specific than our target market, which is important because we can craft content marketing collateral that speaks directly to the challenges and needs of this influential group.

To create effective messaging within your marketing campaigns, you first need to define your target audience.

When marketers try to appeal to the broadest possible audience for their products and services, they often end up feeling exhausted without much to show for their efforts. Their messaging seems inauthentic and doesn’t really resonate with anyone in particular.

To create effective messaging within your marketing campaigns, you first need to define your target audience. Doing so will help you engage key decision-makers and eventually convert them into loyal customers.

At this point, you might be asking, “Isn’t that just a buyer persona?” And while the two concepts are similar, they are distinct enough to warrant further discussion.

A buyer persona is a fictional character who represents one of your ideal customers . They have names, occupations, likes and dislikes, as well as challenges and ambitions.

While target audiences are valuable tools for many types of content marketing campaigns, buyer personas tend to be more useful in a B2B context, because they focus on challenges and business information. For example, a B2C company that sells protein bars would not need to create multiple personas, because people from many backgrounds and with varying job titles might purchase their products.

In a B2B context, targeting personas can be extremely valuable, especially when employing content marketing strategies. A SaaS company might create personas for each stakeholder involved in the buying process, for instance. An HR persona might be interested in blog content that addresses common pain points, while a CFO persona would be more interested in white papers with lots of data.

Personas aren’t entirely without value to B2C marketers, however. They can serve as useful guides when crafting messages to engage and inform consumers.

A persona typically includes:

• Personal information: Name, age and geographic location.
• Content preferences: Favorite channels, content formats, tone and style.
• Business background information: Job title, level of influence in decision making processes.
• Objectives: Measurable goals related to the persona’s job.
• Challenges: Frustrations and pain points standing in the way of the persona’s goals.

Your target audiences should be informed by both demographic and psychographic information. The former category describes your intended audience on a superficial level, while the latter describes their motivations.

• Demographics may include cursory information such as gender, age, income and marital status.
• Psychographics include personal interests, attitudes, values, desires and specific behaviors.

When defining and targeting an audience, demographics will only get you so far. For example, if you’re promoting a B2B SaaS solution, your specific audience may be made up of men and women ages 35-49 who earn more than $100,000 annually. That’s all good information to have, but it applies to too broad of a cohort.

Psychographic data for this specific audience could include: worrying about lost resources throughout a supply chain, wanting to eliminate redundancies, or being skeptical of flashy new technology.

Combined, demographic and psychographic information can help you fine-tune your audience targeting goals.

Combined, demographic and psychographic information can help you fine-tune your audience targeting goals. The challenge is where to find this data. Psychographic research may include interviewing existing clients, conducting polls and analyzing your site traffic.

How to Analyze and Define Your Target Audience

Defining the target audience for a particular marketing campaign requires data. Unfortunately, there isn’t a crystal ball that can tell you how to adjust your messages to bring in the right audience. But that’s not to say you can’t trust your gut.

You know your business better than anyone, so combine that experience with hard data to generate a market segment and target audience that is characteristically human, and also strategically defined by scientifically gathered data.

A Three-Step Approach To Defining A Target Audience

1. Conduct target customer research

Your business plan , content marketing strategy, professional experience and prior knowledge of your target customers will lay the foundation for your research. Compile all of your existing intelligence on your target market, and look for opportunities to learn more about it. For example, you might know that most of your customers are senior-level business people, but you may not know if they all have the same job title, or if they all consume content through the same channels.

To uncover key audience insights, use Google Analytics to drill down into your site traffic and perform a deep audience analysis. Custom audience reports can show you demographic and psychographic data, geographic locations as well as the types of technology your site visitors use.

2. Analyze the market

Once you know a little more about your target customers and have compared that data with your business process or goals, it’s time to get some context. Not only are you attempting to place the right messages in front of the right people at the right time, but you’re also competing with potentially thousands of other messages.

Review your competitors’ marketing efforts and business plans to better understand what you’re up against. Likewise, you’ll want to be aware of any other campaigns your business is currently running, as you don’t want to cannibalize your share of audience attention.

3. Define the audience

With hard data in tow and a thorough understanding of your audience’s interests, challenges and needs, it’s time to create a concise target audience to which you can direct your content marketing efforts.

Ask yourself these questions as you work to define your target audience:

• What problems does your product or service solve?
• Which demographic characteristics influence the decision-making process?
• Which psychographic traits impact content consumption?
• How does your audience prefer to engage with brands similar to yours?
• Is your audience segment large enough?

That last question is particularly important, because it will prevent you from sinking resources into ultra-niche campaigns with low ROI. Niche marketing is certainly a useful tactic, but your target audiences should represent a group large enough to reach through social and organic channels.

Knowing your intended audience is only one half of the equation. The next step in the target audience analysis process is to determine where this group consumes content so you can develop an actionable marketing strategy.

Depending on the demographic and psychographic data you’ve collected, some channels will be more effective at engaging your intended audience than others. For instance, some decision-makers in a market segment may be more likely to open an email than to click on a social media ad.

Within channels, a specific audience may prefer unique platforms. B2B buyers are more inclined to seek out information on LinkedIn than Instagram, for example.

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(Keep in mind the following custom audiences are meant to inform specific campaign messages! These companies may have different audience segments for other targeting efforts. Each example is based on a real client I’ve worked with.)

1. Bookkeeping SaaS Solution

Key demographics

• Age range: 35-49.
• Gender: 65% male, 35% female.
• Common job titles: Head of Digital, Senior Accountant, Chief Financial Officer.

Key psychographics

• Values job security.
• Likes to review all the data before making a decision.
• Striving for a better work-life balance.
• Skeptical of solutions that promise to solve all their problems.
• Their current digital solution is showing its age.
• Current lack of third-party integration is slowing down internal processes.
• Boss/shareholder demands are making work stressful.

Preferred channels

• Email for first contact, then phone conversations.
• Browses social media platforms like LinkedIn , mostly looking for news.

Preferred content types

• Data-rich white papers.
• Case studies.

2. Business Travel Company

• Age range: 30-55.
• Gender: 70% female, 30% male.
• Common job titles: Procurement Officer, Travel Buyer, Supplier Relations Expert.
• Values relationships when working with suppliers.
• Dislikes working on repetitive, mundane tasks.
• Is wary of handing off responsibilities to a third party.
• Suppliers fail to deliver on promised rates.
• Doesn’t have enough data to make informed decisions.
• Not familiar with ground-level travel concerns.
• Looks for answers via organic search.
• Communicates with other procurement professionals on social media platforms.
• Easily digestible blog posts.

3. Facility Security Services

• Age range: 45-60.
• Gender: 80% male, 20% female.
• Common job titles: Facility Manager, Head of Security.
• Doesn’t like drawn-out negotiations.
• Likes to be prepared for everything; gets nervous when things are uncertain.
• Prefers to get pitches from two or three companies before making a decision.
• Needs to save costs, but isn’t willing to sacrifice quality of service.
• Needs a third-party supplier with technology integrations.
• Email for marketing materials.
• Blogs and news sites for industry trends.
• Data-rich infographics.
• Email newsletters.

B2C Target Audience Examples

4. athletic shoes.

• Age range: 18-29
• Gender: 60% male, 40% female
• Wants to look stylish, but doesn’t like to follow trends.
• Looks up to sports figures.
• Strongly values friendships and community.
• Loyal to one or two athletic brands.
• Finding athletic footwear that is both stylish and comfortable.
• Loves the look of designer sneakers, but can’t afford them.
• Follows athletes and influencers on social media.
• Watches sponsored events on YouTube.
• Looks for exercise tips on Google.
• Social media posts.
• Image-rich articles.

5. Organic Protein Bars

• Age range: 18-35.
• Gender: 50% female, 50% male.
• Strives to eat food that is nutritious and sustainable, but isn’t always successful.
• Loves to hang out with friends in nature.
• Feels loyalty toward brands with values similar to their own.
• Finds it difficult to eat healthy food when they’re busy.
• Has a limited food budget.
• Needs a protein source that is compact and easy to transport.
• Follows nature photography accounts on Instagram.
• Watches supplement reviews on YouTube.
• Follows health gurus on Twitter.
• Event marketing.

6. Credit Union Mortgage Products

• Age range: 25-39.
• Gender: 50% male, 50% female.
• Enjoys spending time with friends and family at home.
• Tries to spend their money wisely, but isn’t always sure how to do that.
• Craves stability, but fears another economic recession.
• Feels anxious every time they think about having a mortgage.
• Is thinking about mortgages for the first time ever.
• Unclear on the difference between a bank and a credit union.
• Reads online news sites.
• Downloads how-to guides online.
• Watches home-hunting videos on YouTube.

When you have well-defined, custom audiences informed by strong research, you can stop waiting for buyers to stumble upon your brand and start actively pursuing them with precise messaging.

Editor’s note: Updated November 2021.

Michael O'Neill

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Mike O'Neill is a writer, editor and content manager in Chicago. When he's not keeping a close eye on Brafton's editorial content, he's auditioning to narrate the next Ken Burns documentary. All buzzwords are his own.

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Target Market Examples

Elon Glucklich

7 min. read

Updated April 24, 2024

Imagine your dream is to own a diner.

You have restaurant experience and a great location in mind – you just need the bank to approve your loan to get started.

But the bank has questions. A big one it wants answered is: who is your target market?

It might be tempting just to say, “hungry diners.” But you’ll need to dig deeper to truly define your target market . 

In this article, we’ll use this diner scenario to walk through the market research process and illustrate what the final result could look like.

• Questions about your target market

Before you even set foot in the bank, you should already have asked – and taken steps to answer – several key questions about your target market.

Let’s call our example business the Bplans Diner. Where is that perfect location you’ve found for the diner? Is it in a densely populated urban area, suburban neighborhood, or rural?

What are your hours of operation? Some diners cater to a breakfast crowd, while others might offer 24-hour dining to be a favorite among night owls. When you expect your peak hours could help determine whether you should expect to sell more omelets or hamburgers.

What’s the area’s median income, and what types of businesses or institutions are nearby? This information will help you determine pricing and marketing strategies for your diner. For instance, if your diner is located in a business district, you may want to offer lunch specials. But if it’s near a college or university, you might want to offer student discounts.

This is what a thorough target market analysis looks like, providing key insights and data to pinpoint the specific groups of customers most likely to patronize your diner. Gathering all of this information may sound intimidating, but it’s really just a matter of doing research. If you need help and guidance, check out our complete guide to conducting market research for your business . 

Let’s look at an example of a target market analysis for this diner. Then, we’ll break it down and discuss each element in detail.

• Example of a target market analysis

As you can see, the target market analysis follows the basic market segmentation process of splitting out potential customers into their demographic, geographic, psychographic and behavioral traits.

Next, let’s take a look at each in more detail. Afterward, we’ll look at how you can harness your target market analysis into actual business strategies.

• Demographic

You may have noticed that the demographic analysis in our example is very broad – 18 to 65 years old, including students, workers, and some seniors.

Finding your target market isn’t always about identifying a narrow demographic to cater to. In the case of a restaurant, it makes sense to focus on the geographic location and who currently frequents the area (more on that in the next section).

A different approach may be needed for a technology product that’s sold online. In that case, narrowing the demographic focus to specific age ranges or needs would be much more important than where the business is located.

In the case of the diner, we reached our decision by conducting a demographic analysis, examining the age ranges, occupations, and other concrete data points about potential customers near the proposed location (Reminder: we didn’t do this for the Bplans Diner, we’re just providing an example). 

There are several ways to go about collecting this information for your business. The most straightforward is to get out in the neighborhood, take a look around and talk to people. Are you mostly seeing students, or families? Are there a lot of office workers in the area? 

You can also look up data from the U.S. Census Bureau , which includes population, age, income and other useful information, often down to the neighborhood level.

After conducting this research, one valuable step is to create a detailed customer persona that represents the typical customer you expect for your business (we provide an example of a customer persona for the diner further down in this article).

While the demographic analysis considers the type of people who might frequent your business, the geographic analysis considers the characteristics of the neighborhood itself. 

Our target market analysis for Bplans Diner noted that we plan to operate in an urban area near a university with heavy foot traffic and expect a fair amount of late-night diners.

A key reason for examining the geographic makeup of your businesses is to size up your competition. If there’s already a popular diner in the area you plan to target, getting customers could be a major challenge. But if there’s a lack of dining options or no one is serving diner-style food, you’re more likely to be successful. Determining the size of your market will help you create reasonable revenue projections. 

We also mentioned the plan for Bplans Diner to cater to a late-night crowd. Examining the geographic makeup of the neighborhood will help you determine if there are the kinds of businesses – bars, music venues, or businesses such as hospitals where people are working all hours – to justify targeting this group.

• Psychographic

You know the demographics and geographic characteristics of your market. Now it’s time to consider the attitudes and values of your potential customers.

The psychographic analysis helps to understand the lifestyle of potential customers and how that might affect their preferences as consumers. If many of your potential customers are health-conscious, for instance, you’ll want to ensure your diner provides options like salads or gluten-free menu items. But if most customers are families looking for a place to bring their children, it may be important to keep classic items like hamburgers and french fries on the menu.

The best way to understand your potential customers’ attitudes is to get out and talk to them. Customer interviews are among the most powerful methods of validating a business idea , since you’ll get honest, real-time feedback from the kinds of people your business would depend on.

Finally, the behavioral analysis expands on customer psychographics by examining what customers do, given their values. This is another place where it’s worth considering the broad demographics of the diner’s target market – 18 to 65 years old, split among students, workers, and seniors.

They may all want the diner’s food, but their behaviors will vary widely. College students might be looking for a late-night study spot, or a place to meet up with friends for dinner before a concert or sporting event. But workers and seniors might be more interested in breakfast or lunch specials. 

Each of these behaviors gives a business owner valuable information to target individual segments of their target audience. For instance, you might want to play popular music in the evenings to get young diners ready for a night out on the town. But you’ll want a quieter ambiance at the time of day when seniors are most likely to come in. The environment can be adjusted based on when certain customers frequent the business.

Addressing behavioral aspects like buying motivations and concerns of your potential customers will also help you effectively market your diner. For example, you could create marketing campaigns based on student discounts, late-night specials, or a family-friendly atmosphere, depending on your customers’ behaviors.

• Connecting a target market analysis to business strategy

So far, we’ve touched on each of the components of a target market analysis for a diner: customer demographics, geographics, psychographics, and behaviors. (It’s also important to conduct an industry analysis to understand competitive and macroeconomic forces affecting your planning.)

With the target market analysis complete, you’re better equipped to demonstrate a thorough understanding of your customers to a lender.

Here are a few insights a business owner could use for the Bplans Diner, developed through the above analysis.

• Bplans Diner Competitive Analysis

Market Trends: Growing demand for late-night food options, increasing preference for healthy dining options.

Competitor Strengths and Weaknesses:

Competitor A: Strong brand but limited menu options.

Competitor B: Wide variety of options but lacking in ambiance.

• Bplans Diner Marketing Strategy

Product Differentiation: Offering a diverse menu that caters to various preferences, including healthy options.

Positioning: Establishing Bplans Diner as a reliable, quality, 24-hour dining option in the region.

Promotion: Utilizing social media to announce special night-time deals and promotions.

• Get started with your business plan template

A target market analysis is a key part of any business plan. But it’s just one piece. At Bplans, we take some of the pain out of business planning. We’ve developed a free business planning template to help reduce entrepreneurs’ time to create a full, lender-ready business plan. Bplans has also collected over 550 free sample business plans across numerous industries. Find a plan in your industry to get inspiration for your plan.

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Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How To Write a Business Plan in 9 Steps

Richard Sutherland

Richard Sutherland is a versatile professional with extensive experience in technology and management. Richard has served as a call center manager for Samsung, led frontline teams, and ensured efficient operations. His unique perspective and experience make him an excellent resource for individuals seeking guidance and support in management and operations roles.

Updated on June 20, 2024

Don’t let the thought of writing a business plan intimidate you. Our comprehensive guide breaks it down into manageable steps so you can create a plan that will help you achieve your goals.

Why Write a Business Plan?

How to write a business plan in 9 steps, tips and resources for creating a business plan.

Creating a strong business plan is the first step in your entrepreneurial journey to start a business . It gives your business a sense of direction and helps you make strategic decisions.

However, crafting one can seem intimidating. It involves organizing your ideas, determining the right structure, performing market research, projecting finances, and expressing a clear vision for your business.

To lend you a hand, we’ve created this comprehensive guide on how to write a business plan. We break the process down into 9 key steps and offer tips and resources to help you get started.

Key Takeaways

• A business plan is a document that outlines a business’s goals, strategies, and financial projections.
• It helps you clarify your vision, set goals, align strategies, track progress, identify strengths and weaknesses, and mitigate risks.
• It typically includes an executive summary, company description, product or service details, market analysis, marketing and sales plan, financial analysis, and projections.
• Business plans should be regularly updated to reflect changes in the company and market conditions.

Understanding how to create a business plan is vital for any budding entrepreneur. But why are business plans so important?

A comprehensive business plan demonstrates to investors your preparedness, showcases your business potential, and provides a clear blueprint for the future. Investors are more likely to offer funding if they see you have a solid plan in place and a strategic vision for success.

Even if you aren’t seeking funding, a business plan serves as a roadmap for your entrepreneurial journey . It helps you chart a course from where you are now to where you want to be in the future. By outlining your goals, strategies, and action steps, a business plan provides a framework for decision-making and keeps you focused on your long-term objectives.

Here are some examples of what a great business plan can help you ‌do.

• Clarify your vision . You might have a brilliant idea, but until you put it down on paper, it remains an abstract thought. A business plan helps you make your idea concrete and express it to others.
• Set realistic and measurable objectives . It can be hard to see the bigger picture when you’re in the thick of starting a business. A business plan allows you to define achievable goals, which is crucial for tracking your progress and making informed decisions.
• Align your strategies with your goals . Every business needs strategies to achieve its objectives. These approaches should be rooted in a thorough understanding of your industry, market, customers, and competitors. A business plan helps you map out these tactics, ensuring they’re aligned with your aims and are feasible with your resources.
• Track progress and performance . A business plan isn’t just a document you write once and forget. It’s something you should update regularly. Compare your actual performance against your plan to identify areas where you’re falling short. Then, make the necessary adjustments.
• Identify strengths and weaknesses . As you’re writing your business plan, you’ll likely uncover strengths you didn’t realize you had and weaknesses you hadn’t considered. This knowledge can help you capitalize on your strong points and address your shortcomings, positioning your company for success.
• Mitigate risks and challenges : Every company faces uncertainties and obstacles. A business plan enables you to anticipate these obstacles and formulate avoidance plans. This proactive approach can save you time, money, and stress in the long run.

Entrepreneurs who take the time to create a business plan are 152% more likely to start their business .

Step 1: Write an executive summary

Your executive summary is a concise overview of the key elements of your business plan. It summarizes the business concept, market analysis, competitive advantage, target market, financial projections, and overall strategy. 

It’s also the part investors or partners considering your proposal will read first. Thus, you must capture their attention and make them want to learn more about your business.

Executive summaries can vary based on the purpose of the business plan. For example:

• If you’re looking for funding, your executive summary should highlight the growth potential, profitability, unique selling proposition, and financial projections of your company. 
• If your business plan is mostly for internal use, the executive summary should emphasize strategy, milestones, and action plans.

The executive summary is placed at the beginning of a business plan, but it’s often best to write the summary last . This allows you to distill the most important points from each section of your completed plan.

So, how do you craft an effective executive summary? Follow these steps.

• Start with a strong opening. Your first sentence should hook the reader. Think of this as your elevator pitch. It should briefly explain what your business does and why it will be successful.
• Summarize your mission and vision statements. Your mission statement defines your company’s business, its objectives, and how it will reach these company goals . Your vision statement describes the desired future position of your company. Both are essential in setting the tone for the rest of your business strategy.
• Describe your product or service. What problem does it solve? What makes it unique or superior to the competition? Be concise and focus on the value you provide to the customer.
• Identify your target market. Briefly outline your target customer and why your offerings appeal to them. You’ll go into more detail in your market analysis section.
• Outline your competition. Describe the competitive landscape and why your business will succeed where others have failed. This shows that you understand your market and are ready to compete.
• Introduce your team. Include their names, professional and/or educational backgrounds, qualifications, and skills. This proves you have the team necessary to execute your business plan.
• Summarize your finances and funding needs. Provide an overview of your financial situation, including your revenue and profit projections. If you’re seeking funding, include how much you need and how it will be used.
• Craft a compelling conclusion : Leave your reader with a powerful reason to continue reading the rest of the document.

The executive summary should be clear, concise, and 2 pages long at most. Avoid industry jargon and stick to the main points: your mission, product or service, target market, competition, team, financials, and funding needs.

Step 2: Describe your company

The company description offers a snapshot of your business. It gives readers a glimpse into what you do, why you do it, and how you stand out. 

Here’s how to write it.

• Describe your company : Include your business name, legal structure (LLC, Corporation, etc.), and ownership details.
• Share your history : Explain when and why you started your company and the journey so far.
• State your mission and vision : Your company mission defines your business’s purpose, while your company vision outlines your long-term goals.
• Declare your values : What ethical principles guide your business decisions? Make your company’s core values clear.
• Specify your objectives : What are your short and long-term goals ? Make sure they’re measurable and achievable.
• Discuss who you are : Highlight your key team members, their roles, and their unique skills or experience that contribute to your company.
• Note your location : State your business location(s) and why you chose to do business there.

Your company description should capture the heart and soul of your business. It paints a picture of your identity, your aspirations, and what sets you apart from the competition.

Step 3: Describe your products and/or services

Next, focus on what you’re offering: your goods and/or services. This section should clearly state the advantages of your products or services to customers. 

Here’s how to do it.

• Detail your products and/or services : Describe what you’re selling. If it’s a product, how does it work, and what are its features? If it’s a service, what does the process look like, and what results can customers expect?
• Explain the problem you solve : Describe how what you sell solves customer problems or meets their needs. What benefits do they get from using your products or seeking your services?
• Discuss your unique position : Explain how your products and/or services differ from competitors. What makes you special?
• Describe revenue generation : Clarify how you’ll generate income. Will you sell directly to consumers, use subscription models, or license to other businesses?

Also, share details about intellectual property rights, patents, and trademarks if applicable. 

This section should leave no doubts about what your business offers and why it’s valuable to customers.

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Step 4: Conduct market analysis

The next thing to include in your business plan is a thorough analysis of your market. Your market analysis should include details on your industry, target market, and competitors, as well as a SWOT analysis. 

A well-executed market study shows you understand your sector, intended audience, and rivals . It demonstrates to potential investors that there’s a viable and profitable market for your goods.

The first step in this process is to gather information on your industry.

Gather information

Every business is different, but there are some top research resources to consider when performing market analysis:

• Industry reports: Published online by industry associations or government agencies, they offer the latest information on trends in the sector.
• Reputable sources: Academic journals, research firms, and government sites can give you concrete, accurate research on which to base business decisions.
• Online databases : Provide access to market research reports, industry statistics, and a wealth of other data.
• Surveys or focus groups : Offer valuable insights into consumer behavior and preferences directly from the public.
• Social media search tools : Track what people are saying about your industry or competitors.
• Competitors’ websites: These can provide valuable information on their products or services, pricing strategy, and marketing tactics.
• Current customers: If your business is up and running, you can get industry insights directly from your customers by running surveys or measuring sales.

These resources aren’t just useful for market analysis. They also come in handy when you’re building your marketing and sales plan, performing financial analysis, and making financial projections for the future.

Include an industry description

Now that you’ve gathered data on your industry, it’s time to add a broad description of your industry for readers who may not be familiar with it. 

Here are some questions your industry description should answer:

• What’s the size of the industry? 
• Is it growing or shrinking?
• What are the trends and characteristics? 
• Are there any industry challenges?

Below is an example of a short industry overview that includes key details.

“Microgreens is a growing industry centered on producing and selling edible young seedlings. The industry is characterized by a focus on sustainability and health, with many microgreens producers using environmentally friendly farming practices and avoiding the use of synthetic pesticides and fertilizers.

According to a report by Gartner, the American microgreens market was valued at $540 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030.

The microgreens industry faces several challenges, including high production costs and limited consumer awareness. However, the industry also sees several positive trends, including a growing interest in plant-based diets and locally sourced foods.”

Outline your target market

Now, list the details of your target market as precisely as you can.

Start by gathering data on your existing customers if you’re already in business. This includes their demographics: age, gender, income level, geographic location, and psychographic information—aka their interests, values, and attitudes. You can collect this data by surveying your customers or by analyzing your sales data. 

You’ll need to perform research into your expected customer base if you don’t have existing customers. You can do this using the resources listed above.

Once you’ve gathered this data, use it to create several customer profiles . These profiles should include information about your typical customers’ needs, preferences, and behaviors. You can use this information to identify patterns and trends in your customer base.

Here’s an example customer profile you could create based on your research:

• Company name: Example Customer Inc.
• Industry: Technology
• Company size: 50-100 employees
• Location: United States
• Annual revenue: $1 million-$5 million
• Target audience: Small and medium-sized businesses
• Customer needs: Affordable and reliable technology solutions
• Customer pain points: Limited IT resources, outdated technology

Analyzing your current and potential customer base can help you identify growth opportunities. Understanding customers’ needs and preferences is crucial for creating effective marketing campaigns, too. 

Once you’ve defined your target market, confirm your assumptions by conducting surveys or focus groups.

Perform competitor analysis

Here, you want to identify your competitors and their strengths and weaknesses. Below are a few ways to do it, as well as what to look for.

• First, search for the leading companies in your industry , using the tips outlined above.
• Look at your competitors’ websites. Analyze their product or service offerings. Do they have variety? Do they offer extra features or benefits? Look for things that set them apart, such as exclusive products, unique packaging, or superior customer service. This could be their strength. Conversely, spot any overlooked areas, such as limited payment options or poor product descriptions. These could indicate their weaknesses. 
• Inspect their marketing strategy. Notice how they talk about their products, what keywords they use, and how they position themselves. Are they portraying themselves as cost-effective, high-quality, or eco-friendly? Identifying these strategies can help you better position your business and express its strengths.
• Review their social media accounts. This can tell you a lot about a company’s relationship with its customers. Look at how often they post, the kind of content they share, and how much engagement (likes, comments, shares) they receive. High engagement is usually a sign of strong customer relationships. By reviewing their accounts, you can identify strategies you might want to use or avoid.
• Analyze how your competitors price their products or services. If they’re expensive, do they offer value or benefits to justify the higher price? If they’re inexpensive, where are they cutting corners? This gives you an idea of what pricing strategies work in your market and helps you position your own pricing effectively.
• Look through customer reviews. These provide unfiltered insights into a company’s performance. Positive reviews signify satisfied customers, while repeated negative reviews could point to unresolved issues. This helps you understand what customers value and what issues to avoid in your own business.

Add a SWOT analysis

A SWOT analysis examines your company’s strengths, weaknesses, opportunities, and threats. This exercise can help you identify opportunities for growth and areas of improvement.

Follow these steps to conduct a SWOT analysis:

• Identify your business’s strengths . What are you good at? What do you do better than anyone else?
• Identify your business’s weaknesses . What are you not so good at? What do your competitors do better than you?
• Identify opportunities for growth. What new markets could you enter? What new products or services could you offer?
• Identify potential threats to your business. What are your competitors doing? Are there any changes in regulations that could impact your business?

Here’s an example SWOT analysis that a growing bakery might make: 

Together, your industry description, target market, competitor analysis, and SWOT analysis present a clear and realistic picture of your business environment . Including them demonstrates that you’ve done your homework and understand the challenges and opportunities in your market.

Market analysis isn’t just a one-time task. It’s something you should revisit regularly. Markets can change rapidly, and staying on top of these changes can help you adjust your business strategy accordingly.

Step 5: Outline your marketing and sales plan

In the previous step, you identified your target market, analyzed your competition, and determined potential strengths, weaknesses, opportunities, and threats. 

In the next step—building your marketing and sales plan—you’ll use this information to outline how you’ll reach and convert potential customers . 

Here are some things to discuss.

• Market positioning : Identify the unique selling proposition (USP) of your product or service. What makes you different in a way that’s appealing to your target market? Are you cheaper, faster, and more environmentally friendly than others? Or are you more innovative, offer better customer support, and have more convenient locations? Use your competitor and industry research from above to identify where you fit into the industry.
• Pricing strategy : Establish your approach to pricing and explain your rationale for it. Your price should reflect the value you offer and be competitive in your market. Perhaps you attract price-sensitive customers by offering lower prices than your competitors. Or maybe you maximize profits by charging a higher price while remaining competitive in your market. Alternatively, perhaps you build brand loyalty by offering high-quality products at prices connoisseurs will pay.
• Promotion strategy : Detail how you’ll promote your line of products. This could include online advertising, social media, search engine optimization (SEO), content marketing, events, public relations, and more.
• Distribution : How will customers buy your products or services? This could be through a physical store, an online shop, direct sales, or third-party distributors.
• Sales strategy : How will you make sales? You might have a direct sales team, use e-commerce, or partner with retailers.
• Customer retention : Specify how you will keep your customers coming back. Consider loyalty programs, excellent customer service, regular updates, or incentives for repeat purchases.

Step 6: Perform financial analysis

The financial analysis section of your business plan shows the company’s current financial status .

Don’t fret if the list of statements and reports you need to make for this seems intimidating. You can easily generate most of these statements, sheets, and reports using accounting software. Often, they’re just a click of a button away. Or, you can speak with your accountant, who can generate these reports for you.

Here are the sections to include in this section whenever possible.

Income statement

An income statement shows your company’s profitability over a specific period. It includes revenue, cost of goods sold ( COGS ), gross margin, operating expenses, net income, and earnings before interest and tax ( EBIT ).

You can compare income statements over time to track and analyze trends in your business’s financial performance. This can help you ‌identify patterns, changes, or inconsistencies in revenue, expenses, and profitability.

Balance sheet

A balance sheet summarizes your company’s financial situation at a specific point in time. It lists:

• Assets: What you own
• Liabilities: What you owe
• Equity: Your net worth or book value

Cash flow statement

A cash flow statement shows how cash moves into and out of your business, helping you and investors understand your company’s liquidity. It can be split up monthly, quarterly, or annually.

It includes 3 categories:

• Operating activities : Core business activities like sales, salaries, and payments to suppliers
• Investing activities : Buying and selling assets
• Financing activities : Borrowing and paying debt

Return on investment (ROI) analysis

This analysis shows the efficiency of an investment . The higher the ROI, the better the opportunity for making a profit.

Below is an overview of calculating the ROI of your business venture.

• Determine costs: Identify and quantify all the costs associated with the project. This includes the initial investment required, ongoing operating expenses, maintenance costs, and any other relevant expenses throughout the project’s lifespan.
• Estimate returns: Estimate the expected returns generated by the project. This may include increased sales, cost savings, improved efficiency, additional revenue streams, or any other measurable benefits directly attributable to the project.
• Calculate net profit: Subtract the total costs (identified in Step 2) from the expected returns (identified in Step 3). The result is the net profit generated by the project.
• Calculate ROI: Divide the net profit (calculated in Step 4) by the total investment (identified in Step 2). Multiply the result by 100 to get the ROI percentage. ROI = (Net Profit / Total Investment) x 100.

Profit margin analysis

Profit margin measures a business’s profitability as a percentage . It calculates the portion of the revenue you keep as profit after deducting all the costs and expenses of producing and selling your goods and services.

A healthy profit margin is essential for sustaining operations, covering expenses, and generating income for reinvestment and growth.

Profit margin analysis helps assess a business’s viability and long-term sustainability. Consistently low or negative profit margins indicate the business is struggling to generate profits or may even be operating at a loss.

To work out the profit margin, divide your business’s net profit by its total revenue. Then, multiply the result by 100 to express it as a percentage.

Funding sources

Detail any sources of funding your business has received. This can include bank loans, angel investments, venture capital, crowdfunding, or personal funds. Mention the terms of any loans and how you plan to repay them.

Your financial analysis should be transparent, using concrete numbers and factual data. Keep in mind that investors use this section to assess your business’s viability and growth potential. 

Consider hiring an accountant or a financial professional to help if you’re unsure about anything. Mistakes in financial analysis can seriously harm your chances of securing investment or cause you to make poor business decisions based on wrong data.

Step 7: Make financial projections

The financial projection section forecasts your business’s revenue and expenses over the next 3-5 years.

Be realistic and conservative when creating these projections. Overly optimistic predictions can make the rest of your information unreliable and cause you to make bad financial decisions.

All your projections should be based on sound assumptions. These include industry and market trends, economic forecasts, and pricing strategies. State your assumptions clearly and provide reasoning for them.

In this section, include a sales forecast, expenses budget, cash flow statement, profit and loss (P&L) statement, and a balance sheet showing the figures you expect for the next 3-5 years.

Sales forecast

A sales forecast is a projection of future sales revenue that a business expects to generate within a specific period, typically 3-5 years. Here’s how to estimate your future sales.

• Itemize what you sell. You can’t guess your future sales if you don’t know what you’re selling. Write down each product or service. Be precise, and your forecast will be too.
• Predict your sales. There’s more than one way to estimate your future sales. For example, you can look at previous sales and go from there. This is known as historical forecasting. Or, you can work out the total market for your item, estimate the slice of that market you’ll get, and work out your sales from that. This is known as top-down forecasting.
• Adjust as needed. Think about what might change. Markets can shift, rules can change, and new marketing tactics can boost sales. Make sure to adapt your forecasts accordingly.
• Subtract costs. Finally, take your forecast sales and subtract what it costs to make your goods or services. The result is your potential profit.

Projected expenses budget

In a projected expenses budget, you list your expected operating expenses—such as rent, utilities, marketing costs, salaries, and production costs—over a period of 3-5 years.

We explain everything you need to know about calculating labor costs .

Projected cash flow statement

A projected cash flow statement typically shows your projections for a period of 3-5 years. It presents the flow of cash in (revenue) and out (expenses) of your business. 

This helps you understand and demonstrate if you can cover all expenses and what months might require additional financing.

The statement usually includes the following sections:

• Operating activities : This section outlines the cash received from customers and cash paid to suppliers, along with various operating expenses such as employee salaries, rent, utilities, and marketing expenses.
• Investing activities : This section covers the purchase or sale of assets, such as equipment or investments, and reflects the cash flows associated with these activities.
• Financing activities : These activities include the cash flows related to financing the business, such as proceeds from loans or equity issuances, loan repayments, and dividend payments.
• Net increase in cash : This figure represents how much the business’s cash is expected to increase or decrease based on the above.
• Opening and closing cash balances : The opening cash balance represents the cash on hand at the beginning of the period, while the closing cash balance shows the projected cash at the end of the period.

Projected profit and loss (P&L) statement

A projected P&L statement shows the expected revenue, costs, and expenses expected over a period of time, typically 3-5 years. 

It provides information about your company’s ability or inability to generate profit by increasing revenue, reducing costs, or both.

Projected balance sheet

This statement provides a snapshot of your company’s projected net worth at particular points in time, typically every year for 3-5 years. It lists all of your business’s assets, liabilities, and equity.

Your financial projections aren’t set in stone. You should update them regularly as you get more information about your business’s performance and the market you’re operating in.

Step 8: Review and edit your business plan

After drafting your business plan, you need to review and edit it. This ensures your plan is clear, accurate, and persuasive. 

Follow these steps to review and edit your plan:

• Review for errors : Check for factual, calculation, or logical errors. Ensure all claims are supported by data or evidence.
• Check for consistency : Ensure all sections are consistent in tone, format, language, and information.
• Check for clarity : Make sure your plan is easy to understand. Use simple language and clear visuals. Charts, graphs, infographics, tables, location photos, flowcharts, and product mock-ups can all help to make your vision clear to the reader.
• Check for completeness : Ensure you’ve included all relevant information and addressed all critical areas.
• Proofread : Check for grammar, spelling, punctuation, and formatting errors. A well-presented plan appears professional and credible.
• Seek feedback: Get advice from mentors, peers, or experts. Their perspective can help identify any gaps or weaknesses in your plan. 
• Update regularly: Come back to your plan often, altering it to reflect any changes in your company or market.

Step 9: Add appendices if needed

Appendices include any additional documents that support your business plan. While not always necessary, they can provide valuable supplemental information. 

Make sure your appendices are:

• Relevant : They should include only information that supports your business plan. This could be market research data, legal documents, or product samples.
• Complementary : Appendices should provide only additional supporting information. They shouldn’t distract from the main points of your plan.
• Organized : The appendices should be ordered in the sequence they’re mentioned in the business plan. Use a table of contents for easy navigation.
• Clear : All information should be easy to read. Avoid long blocks of text, use bullet points or numbered lists where appropriate, and ensure any images or graphics you use are high-quality.

Here are some quick tips for making a business plan that impresses.

• Use simple language : Make your business plan easy to understand. Avoid jargon and use plain, straightforward language.
• Incorporate visuals : Bullet points, charts, graphs, and images can make your plan more engaging and easier to understand.
• Use facts and data : Support your claims with evidence. This adds credibility to your plan.
• Use examples : Include case studies or success stories. This can demonstrate your understanding and ability to apply business principles.
• Include testimonials : If possible, include quotes from customers or experts to validate your value proposition.
• Turn to Connecteam : We’ve put together a free example business plan template to help get you started!

You’ll find a wealth of information on the Connecteam blog to help guide your journey as a business owner. From tips on how to create an employee handbook for your team to a guide showing you how to establish democracy in the workplace , our blog has all the info you need.

A well-crafted business plan serves as the blueprint for your venture, underlining the vision, goals, market strategy, and financial projections you’ll follow. It includes a strong executive summary, a description of your industry and company, a market analysis, a marketing and sales plan, and financial data you can use to build and grow.

By following the steps above, you can create a plan that’s comprehensive and practical—helping you attract investors and establish a clear path forward for your company.

What are the common parts of a good business plan?

A good business plan should include an executive summary, company description, product or service description, market analysis, marketing and sales strategy, financial analysis, and financial projections. Each section provides critical insights into your business, from your vision to how you plan to achieve your goals.

What is the most important part of a business plan?

The executive summary is arguably the most crucial segment of your business strategy. It’s the first thing potential investors or partners will read and should provide a captivating snapshot of your entire business plan. It’s vital to make it concise, engaging, and informative.

How should a business plan be formatted?

A business plan should be formatted in a clear and organized way. Use concise language, include relevant visuals, and maintain consistency in style throughout. It’s crucial to organize information logically, with headings and subheadings for easy navigation. Always back up claims with accurate data and references.

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How to Write an Ideal Customer Description using Branding Compass

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Your ideal customer description or ideal client description help you focus your marketing and brand positioning on who is most likely to buy from you.

It is a phrase that will be part of your Unique Value Proposition. Within your Branding Compass workbook, follow these guidelines to write it in the best format.

• Don’t capitalize at the beginning or put a period at the end. It is not a complete sentence.
• It should describe a group of people, in other words, a plural noun.
• It can be helpful to insert the word “who” into your phrase to write it correctly.

For example, for a mini donut bakery that offers very unique flavors, it might be: foodies in Portland

For an HR consulting firm is might be: business owners of professional firms in competitive industries who want to retain staff by improving their work environment

Find the motivation to buy

Sometimes, B2B firms tend to focus on demographic details like annual revenues, the number of employees or industry sector. While these are helpful pre-qualifiers for your marketing efforts they are probably not enough and may not even be that critical.

For example, if you have an IT consulting firm, you may find that your typical clients have more than 50 employees and annual revenues of $10 million or more. But, a smaller firm—say with 25 employees—but who relies heavily on technology may be more motivated to spend on your services than someone who matches your employee and revenue count, but could easily handle a brief disruption to their technology platforms.

Try to describe the core reason that motivates someone to buy from you. Think about what these people have in common about the pain they are feeling or the gain you can provide them that motivates them to buy from you without a lot persuasion. For an IT consulting firm, it may be something like, technology-driven companies who demand little or no downtime to their operating systems.

Use Branding Compass to develop your ideal customer description

As you progress through your Branding Compass workbook, there are multiple times you will answer questions about your ideal customer. You’ll be asked about their greatest pain points or the greatest benefit you can help them with. You’ll be asked about demographic and psychographic details. You’ll be asked to answer and then rank the importance of these traits. Once you have completed all of these, think back to all the questions you just answered and write a short, descriptive phrase that really identifies who is most likely to buy from you.

Other topics you may be interested in

• Which Branding Compass License Should You Choose?
• How to Edit your Unique Value Proposition
• How many ideal client profiles should you have?
• How to Create An Ideal Customer Profile
• How to Use Branding Compass
• How to Write About the Benefits of Your Product or Service

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The Products and Services Section in a Business Plan

How to Write the Business Plan Products and Services Section

• The Products and Services Section
• What to Include
• Tips on Writing the Section

The products and services section of your business plan is more than just a list of what your business is going to provide. This section of your business plan should include details about how you'll price products and services, how you'll fulfill orders, and other details that investors need to hear before you can get funding .

Additionally, it should outline the unique selling points of your offerings and explain how they stand out from competitors. Providing information on awards received, potential suppliers, and manufacturing processes can also strengthen this section and build investor confidence. Learn more with the guide below.

Key Takeaways

• Business plans include details about the products and services you'll offer, including exactly how you plan to market, sell, and deliver on customer orders.
• The best business plans are clear and concise.
• The products and services section of your plan should show why your product or service is needed.
• The products and services section should also convey the expertise and experience you have to succeed.

Why You Need a Products and Services Section in a Business Plan

The business plan products and services section is the centerpiece of your plan. While other sections of your business plan are important, the products and services section is the essence of your business and the point around which every other part of the business plan is built .

What to Include in a Products and Services Section

The products and services section of your business plan outlines your product or service, why it's needed by your market, and how it will compete with other businesses selling the same or similar products and services.

Your products and services section should include a description of the products or services you are offering or plan to offer (including future products or services). You should explain how your products and services will be priced and a comparison of the products or services your competitors offer in relation to yours.

You should also include the sales literature you plan to use. Detail your marketing materials, and clarify the role your website will play in your sales efforts.

The products and services section will include a paragraph or so on how orders from your customers will be processed or fulfilled, as well as any needs you have to create or deliver your products, such as partnerships, up-to-date computer equipment, or manufacturing processes. If your process depends on intellectual property or legal issues, such as trademarks , then those need to be addressed.

Tips on Writing the Products and Services Section

This section of your business plan should excite those you're hoping will fund your business or work with you. To that end, here are a few tips to create a products and services section that appeals to the reader.

Indicate Why Your Product or Service Is Needed

Especially if you're venturing into a new concept or invention, or a place where there is no current market, you need to explain the need for your product or service.

Highlight the Features of Your Product or Service

A crucial part of business success is the ability to set yourself apart from other businesses that sell the same or similar products and services. What features, such as price point or level of service, do you offer that are unique to you?

Focus on Benefits

Unique features are important, but even more vital is how those features provide value to consumers. Translate your features (i.e., faster or cheaper) into benefits (i.e., get it now or save money). The goal is to highlight how your product or service will fix a problem or improve a client or customer's life.

Be Clear and Concise

Don't let your business plan get bogged down in too much description and information. Use bullets or numbered lists to quickly and easily highlight important information.

Show Off Expertise, Experience, and Accolades

You not only want to describe your products and services but also share why you're the best person to provide them. Include anything in your education or experience that makes you an expert in this business. If you have testimonials, awards, or endorsements, share those. Finally, if you've applied for a patent, copyright, or trademark, include that as well.

Be the Expert, But Use Layman's Terms

You should know your product, service, and industry well, but don't expect your potential funders and partners to have the same level of knowledge. Assume the reader doesn't know as much as you when you explain what you're offering.

Avoid acronyms and jargon when outlining your products and services.

Indicate What's Special About Your Products or Services

Will you be offering a special guarantee or refund policy? Do you have a quicker or more unique way of delivering your product or service? 

Speak to Your Customer

While you don't want to write an advertorial, you do want to be customer-oriented when you write your products and services section.

Examples of a Products and Services Section

The Small Business Administration offers business plan examples that you can draw from to help guide your writing. Here's an example of a products section for someone creating "Wooden Grain Toys."

Wooden Grain Toys will sell wooden toys made from solid hardwoods (maple, beech, birch, cherry, and oak) and steel rivets. The toys are handcrafted and designed for small children to easily use. Our line currently includes the following nine models:

• All-Purpose Pick-Up Truck w/movable doors and tailgate
• Dump Truck w/functioning dumping mechanism and box
• Biplane (two-seater) w/movable propeller
• Steam engine with coal tender - additional cars available separately: caboose, flat car w/logs, box car, tank car, coal car
• Flat-Bed Truck w/logs

Wooden Grain Toys will offer its products for the following prices:

• All-Purpose Pick-Up Truck w/movable doors and tailgate - $25
• Dump Truck w/functioning dumping mechanism and box - $30
• Biplane (two-seater) w/movable propeller - $20
• Additional train cars (single car) - $5
• Additional train cars (three cars) - $12
• City Bus - $12
• Tow Truck - $18
• Flat-Bed Truck w/logs - $35
• Sports Car - $20
• Sedan - $20

What is the products and services section in a business plan?

A products and services section of a business plan clarifies exactly what your business will produce , how much it'll sell for, and other details along those lines.

What are examples of products and services?

A product or service can be anything a business creates to turn a profit. Some businesses have both products and services. For example, a restaurant's services include cooking for and serving customers. The restaurant's products are the dishes and drinks it creates.

Small Business Administration. " Write your business plan ."

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12 Key Elements of a Business Plan (Top Components Explained)

Starting and running a successful business requires proper planning and execution of effective business tactics and strategies .

You need to prepare many essential business documents when starting a business for maximum success; the business plan is one such document.

When creating a business, you want to achieve business objectives and financial goals like productivity, profitability, and business growth. You need an effective business plan to help you get to your desired business destination.

Even if you are already running a business, the proper understanding and review of the key elements of a business plan help you navigate potential crises and obstacles.

This article will teach you why the business document is at the core of any successful business and its key elements you can not avoid.

Let’s get started.

Why Are Business Plans Important?

Business plans are practical steps or guidelines that usually outline what companies need to do to reach their goals. They are essential documents for any business wanting to grow and thrive in a highly-competitive business environment .

1. Proves Your Business Viability

A business plan gives companies an idea of how viable they are and what actions they need to take to grow and reach their financial targets. With a well-written and clearly defined business plan, your business is better positioned to meet its goals.

2. Guides You Throughout the Business Cycle

A business plan is not just important at the start of a business. As a business owner, you must draw up a business plan to remain relevant throughout the business cycle .

During the starting phase of your business, a business plan helps bring your ideas into reality. A solid business plan can secure funding from lenders and investors.

After successfully setting up your business, the next phase is management. Your business plan still has a role to play in this phase, as it assists in communicating your business vision to employees and external partners.

Essentially, your business plan needs to be flexible enough to adapt to changes in the needs of your business.

3. Helps You Make Better Business Decisions

As a business owner, you are involved in an endless decision-making cycle. Your business plan helps you find answers to your most crucial business decisions.

A robust business plan helps you settle your major business components before you launch your product, such as your marketing and sales strategy and competitive advantage.

4. Eliminates Big Mistakes

Many small businesses fail within their first five years for several reasons: lack of financing, stiff competition, low market need, inadequate teams, and inefficient pricing strategy.

Creating an effective plan helps you eliminate these big mistakes that lead to businesses' decline. Every business plan element is crucial for helping you avoid potential mistakes before they happen.

5. Secures Financing and Attracts Top Talents

Having an effective plan increases your chances of securing business loans. One of the essential requirements many lenders ask for to grant your loan request is your business plan.

A business plan helps investors feel confident that your business can attract a significant return on investments ( ROI ).

You can attract and retain top-quality talents with a clear business plan. It inspires your employees and keeps them aligned to achieve your strategic business goals.

Key Elements of Business Plan

Starting and running a successful business requires well-laid actions and supporting documents that better position a company to achieve its business goals and maximize success.

A business plan is a written document with relevant information detailing business objectives and how it intends to achieve its goals.

With an effective business plan, investors, lenders, and potential partners understand your organizational structure and goals, usually around profitability, productivity, and growth.

Every successful business plan is made up of key components that help solidify the efficacy of the business plan in delivering on what it was created to do.

Here are some of the components of an effective business plan.

1. Executive Summary

One of the key elements of a business plan is the executive summary. Write the executive summary as part of the concluding topics in the business plan. Creating an executive summary with all the facts and information available is easier.

In the overall business plan document, the executive summary should be at the forefront of the business plan. It helps set the tone for readers on what to expect from the business plan.

A well-written executive summary includes all vital information about the organization's operations, making it easy for a reader to understand.

The key points that need to be acted upon are highlighted in the executive summary. They should be well spelled out to make decisions easy for the management team.

A good and compelling executive summary points out a company's mission statement and a brief description of its products and services.

An executive summary summarizes a business's expected value proposition to distinct customer segments. It highlights the other key elements to be discussed during the rest of the business plan.

Including your prior experiences as an entrepreneur is a good idea in drawing up an executive summary for your business. A brief but detailed explanation of why you decided to start the business in the first place is essential.

Adding your company's mission statement in your executive summary cannot be overemphasized. It creates a culture that defines how employees and all individuals associated with your company abide when carrying out its related processes and operations.

Your executive summary should be brief and detailed to catch readers' attention and encourage them to learn more about your company.

Components of an Executive Summary

Here are some of the information that makes up an executive summary:

• The name and location of your company
• Products and services offered by your company
• Mission and vision statements
• Success factors of your business plan

2. Business Description

Your business description needs to be exciting and captivating as it is the formal introduction a reader gets about your company.

What your company aims to provide, its products and services, goals and objectives, target audience , and potential customers it plans to serve need to be highlighted in your business description.

A company description helps point out notable qualities that make your company stand out from other businesses in the industry. It details its unique strengths and the competitive advantages that give it an edge to succeed over its direct and indirect competitors.

Spell out how your business aims to deliver on the particular needs and wants of identified customers in your company description, as well as the particular industry and target market of the particular focus of the company.

Include trends and significant competitors within your particular industry in your company description. Your business description should contain what sets your company apart from other businesses and provides it with the needed competitive advantage.

In essence, if there is any area in your business plan where you need to brag about your business, your company description provides that unique opportunity as readers look to get a high-level overview.

Components of a Business Description

Your business description needs to contain these categories of information.

• Business location
• The legal structure of your business
• Summary of your business’s short and long-term goals

3. Market Analysis

The market analysis section should be solely based on analytical research as it details trends particular to the market you want to penetrate.

Graphs, spreadsheets, and histograms are handy data and statistical tools you need to utilize in your market analysis. They make it easy to understand the relationship between your current ideas and the future goals you have for the business.

All details about the target customers you plan to sell products or services should be in the market analysis section. It helps readers with a helpful overview of the market.

In your market analysis, you provide the needed data and statistics about industry and market share, the identified strengths in your company description, and compare them against other businesses in the same industry.

The market analysis section aims to define your target audience and estimate how your product or service would fare with these identified audiences.

Market analysis helps visualize a target market by researching and identifying the primary target audience of your company and detailing steps and plans based on your audience location.

Obtaining this information through market research is essential as it helps shape how your business achieves its short-term and long-term goals.

Market Analysis Factors

Here are some of the factors to be included in your market analysis.

• The geographical location of your target market
• Needs of your target market and how your products and services can meet those needs
• Demographics of your target audience

Components of the Market Analysis Section

Here is some of the information to be included in your market analysis.

• Industry description and statistics
• Demographics and profile of target customers
• Marketing data for your products and services
• Detailed evaluation of your competitors

4. Marketing Plan

A marketing plan defines how your business aims to reach its target customers, generate sales leads, and, ultimately, make sales.

Promotion is at the center of any successful marketing plan. It is a series of steps to pitch a product or service to a larger audience to generate engagement. Note that the marketing strategy for a business should not be stagnant and must evolve depending on its outcome.

Include the budgetary requirement for successfully implementing your marketing plan in this section to make it easy for readers to measure your marketing plan's impact in terms of numbers.

The information to include in your marketing plan includes marketing and promotion strategies, pricing plans and strategies , and sales proposals. You need to include how you intend to get customers to return and make repeat purchases in your business plan.

5. Sales Strategy

Sales strategy defines how you intend to get your product or service to your target customers and works hand in hand with your business marketing strategy.

Your sales strategy approach should not be complex. Break it down into simple and understandable steps to promote your product or service to target customers.

Apart from the steps to promote your product or service, define the budget you need to implement your sales strategies and the number of sales reps needed to help the business assist in direct sales.

Your sales strategy should be specific on what you need and how you intend to deliver on your sales targets, where numbers are reflected to make it easier for readers to understand and relate better.

6. Competitive Analysis

Providing transparent and honest information, even with direct and indirect competitors, defines a good business plan. Provide the reader with a clear picture of your rank against major competitors.

Identifying your competitors' weaknesses and strengths is useful in drawing up a market analysis. It is one information investors look out for when assessing business plans.

The competitive analysis section clearly defines the notable differences between your company and your competitors as measured against their strengths and weaknesses.

This section should define the following:

• Your competitors' identified advantages in the market
• How do you plan to set up your company to challenge your competitors’ advantage and gain grounds from them?
• The standout qualities that distinguish you from other companies
• Potential bottlenecks you have identified that have plagued competitors in the same industry and how you intend to overcome these bottlenecks

In your business plan, you need to prove your industry knowledge to anyone who reads your business plan. The competitive analysis section is designed for that purpose.

7. Management and Organization

Management and organization are key components of a business plan. They define its structure and how it is positioned to run.

Whether you intend to run a sole proprietorship, general or limited partnership, or corporation, the legal structure of your business needs to be clearly defined in your business plan.

Use an organizational chart that illustrates the hierarchy of operations of your company and spells out separate departments and their roles and functions in this business plan section.

The management and organization section includes profiles of advisors, board of directors, and executive team members and their roles and responsibilities in guaranteeing the company's success.

Apparent factors that influence your company's corporate culture, such as human resources requirements and legal structure, should be well defined in the management and organization section.

Defining the business's chain of command if you are not a sole proprietor is necessary. It leaves room for little or no confusion about who is in charge or responsible during business operations.

This section provides relevant information on how the management team intends to help employees maximize their strengths and address their identified weaknesses to help all quarters improve for the business's success.

8. Products and Services

This business plan section describes what a company has to offer regarding products and services to the maximum benefit and satisfaction of its target market.

Boldly spell out pending patents or copyright products and intellectual property in this section alongside costs, expected sales revenue, research and development, and competitors' advantage as an overview.

At this stage of your business plan, the reader needs to know what your business plans to produce and sell and the benefits these products offer in meeting customers' needs.

The supply network of your business product, production costs, and how you intend to sell the products are crucial components of the products and services section.

Investors are always keen on this information to help them reach a balanced assessment of if investing in your business is risky or offer benefits to them.

You need to create a link in this section on how your products or services are designed to meet the market's needs and how you intend to keep those customers and carve out a market share for your company.

Repeat purchases are the backing that a successful business relies on and measure how much customers are into what your company is offering.

This section is more like an expansion of the executive summary section. You need to analyze each product or service under the business.

9. Operating Plan

An operations plan describes how you plan to carry out your business operations and processes.

The operating plan for your business should include:

• Information about how your company plans to carry out its operations.
• The base location from which your company intends to operate.
• The number of employees to be utilized and other information about your company's operations.
• Key business processes.

This section should highlight how your organization is set up to run. You can also introduce your company's management team in this section, alongside their skills, roles, and responsibilities in the company.

The best way to introduce the company team is by drawing up an organizational chart that effectively maps out an organization's rank and chain of command.

What should be spelled out to readers when they come across this business plan section is how the business plans to operate day-in and day-out successfully.

10. Financial Projections and Assumptions

Bringing your great business ideas into reality is why business plans are important. They help create a sustainable and viable business.

The financial section of your business plan offers significant value. A business uses a financial plan to solve all its financial concerns, which usually involves startup costs, labor expenses, financial projections, and funding and investor pitches.

All key assumptions about the business finances need to be listed alongside the business financial projection, and changes to be made on the assumptions side until it balances with the projection for the business.

The financial plan should also include how the business plans to generate income and the capital expenditure budgets that tend to eat into the budget to arrive at an accurate cash flow projection for the business.

Base your financial goals and expectations on extensive market research backed with relevant financial statements for the relevant period.

Examples of financial statements you can include in the financial projections and assumptions section of your business plan include:

• Projected income statements
• Cash flow statements
• Balance sheets
• Income statements

Revealing the financial goals and potentials of the business is what the financial projection and assumption section of your business plan is all about. It needs to be purely based on facts that can be measurable and attainable.

11. Request For Funding

The request for funding section focuses on the amount of money needed to set up your business and underlying plans for raising the money required. This section includes plans for utilizing the funds for your business's operational and manufacturing processes.

When seeking funding, a reasonable timeline is required alongside it. If the need arises for additional funding to complete other business-related projects, you are not left scampering and desperate for funds.

If you do not have the funds to start up your business, then you should devote a whole section of your business plan to explaining the amount of money you need and how you plan to utilize every penny of the funds. You need to explain it in detail for a future funding request.

When an investor picks up your business plan to analyze it, with all your plans for the funds well spelled out, they are motivated to invest as they have gotten a backing guarantee from your funding request section.

Include timelines and plans for how you intend to repay the loans received in your funding request section. This addition keeps investors assured that they could recoup their investment in the business.

12. Exhibits and Appendices

Exhibits and appendices comprise the final section of your business plan and contain all supporting documents for other sections of the business plan.

Some of the documents that comprise the exhibits and appendices section includes:

• Legal documents
• Licenses and permits
• Credit histories
• Customer lists

The choice of what additional document to include in your business plan to support your statements depends mainly on the intended audience of your business plan. Hence, it is better to play it safe and not leave anything out when drawing up the appendix and exhibit section.

Supporting documentation is particularly helpful when you need funding or support for your business. This section provides investors with a clearer understanding of the research that backs the claims made in your business plan.

There are key points to include in the appendix and exhibits section of your business plan.

• The management team and other stakeholders resume
• Marketing research
• Permits and relevant legal documents
• Financial documents

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

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21 Customer Segmentation Examples

• Published on August 28, 2024
• Views 1.22k

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Are you looking to better understand and connect with an increasingly diverse customer base? Customer segmentation is hands-down the best tool you can add to your marketing arsenal to achieve this. Customer segmentation is the process of dividing a customer base into distinct groups based on specific characteristics like demographics, behaviors, or interests. This is crucial for a company’s marketing strategy because it allows for more personalized and targeted marketing efforts, leading to higher engagement and conversion rates. 

We’ve put together 21 examples of customer segments to illustrate the diverse ways you can tailor your marketing efforts to meet your customers’ specific needs and drive better results. Whether you’re a luxury car brand targeting high-income professionals or a retailer adjusting your product offerings based on climate, keep reading to see some of the many ways you can segment your audience to supercharge your marketing campaigns. 

The Four Main Categories of Customer Segmentation

There are an endless number of ways you can segment your audiences, but most of them fall into one of these four main categories of customer segmentation: 

• Demographic segmentation divides the market based on variables such as age, gender, income, education, and occupation. This method helps businesses tailor their marketing strategies to meet the specific needs and preferences of different demographic groups. A luxury car brand might target high-income professionals, while a children’s toy company focuses on young parents.
• Geographic segmentation categorizes customers based on their location, such as country, region, city, or neighborhood. For instance, a clothing retailer might promote warm winter coats in colder climates and lightweight summer clothes in tropical areas.
• Behavioral segmentation groups customers based on their behaviors and decision-making patterns. Imagine organizing a library based on the genres people most frequently borrow. This includes purchase history, product usage, and brand loyalty. A coffee shop might use behavioral segmentation to target frequent coffee drinkers with loyalty rewards, while casual visitors receive occasional promotional offers.
• Psychographic segmentation classifies consumers according to their lifestyles, interests, and values. Psychographic segmentation is akin to forming clubs based on hobbies and interests. For example, a fitness brand might target health-conscious individuals who value an active lifestyle, while a tech company markets new gadgets to early adopters who love innovative products.

1.  Value-Based 

Type: Psychographic

Value-based segmentation focuses on the value customers seek from a product or service, such as quality, price, or convenience. Picture a store with sections labeled “budget-friendly,” “premium quality,” and “quick and easy.” A tech company might market high-end gadgets to customers, prioritizing quality while promoting budget devices to price-sensitive customers, ensuring that each segment receives offers that align with their values.

2. Seasonal 

Type: Behavioral

Seasonal segmentation targets customers based on the time of year or specific holidays. It’s like switching wardrobes for summer and winter. Retailers use this to promote holiday-themed products during Christmas or back-to-school supplies in late summer. By aligning marketing efforts with seasonal behaviors and trends, businesses can ensure their campaigns are relevant, timely, and engaging.

3. Transactional 

Type: Behavioral 

Transactional segmentation groups customers based on their purchase history and transaction behaviors. Imagine a grocery store organizing customers by the items in their shopping carts. This method helps businesses identify high-value customers who frequently make large purchases and offer them exclusive deals and rewards, enhancing customer loyalty and encouraging repeat business.

4. Generational 

Type: Demographic

Generational segmentation divides the market by age cohorts, such as Baby Boomers, Gen X, Millennials, and Gen Z. It’s similar to organizing a party with themed areas for different age groups. A fashion retailer might use this approach to market retro styles to Gen X and trendy outfits to Millennials, catering to each generation’s unique tastes, preferences, and cultural influences.

5. Lifecycle Stage 

Lifecycle stage segmentation categorizes customers based on their stage in the customer journey, from awareness to loyalty. A software company might send introductory content to new users while offering advanced tutorials and loyalty rewards to long-term customers, ensuring continuous engagement at every stage of the customer lifecycle .

6. Cultural 

Cultural segmentation groups customers based on cultural factors such as ethnicity, religion, or language. Imagine curating a festival with different cultural booths. A food brand might promote kosher products to Jewish communities or offer Spanish-language services to Hispanic customers, ensuring cultural relevance and inclusivity, and enhancing the connection with diverse customer bases.

7. Interest-Based 

Interest-based segmentation targets consumers based on their hobbies and interests, like creating fan clubs for different TV shows. For example, a travel company would offer adventure packages to thrill-seekers and relaxing beach vacations to those interested in unwinding. This method allows businesses to create highly personalized and engaging offers that resonate with specific interests and passions.

8. Firmographic 

Firmographic segmentation in B2B markets involves categorizing businesses based on characteristics such as industry, company size, and revenue. Software companies tend to tailor their services differently for small startups compared to large corporations, ensuring that each group receives offerings that match their specific operational needs and scalability requirements.

9. Technographic 

Technographic segmentation classifies customers based on their technology usage and preferences. Imagine a tech expo with booths catering to varying levels of tech-savviness. A software company might target tech enthusiasts with advanced features, while offering user-friendly options to less tech-savvy customers, ensuring that products meet the diverse technological needs of different user groups.

10. Engagement 

Engagement segmentation groups customers based on their interaction levels with a brand, akin to dividing a classroom by student participation. Online platforms often target highly engaged users with premium content and occasional users with reminders and incentives. This segmentation ensures that engagement strategies are tailored to each group’s activity level, promoting higher overall engagement.

11. Loyalty 

Loyalty segmentation focuses on customers’ loyalty levels to a brand, similar to a rewards program with bronze, silver, and gold tiers. Many retailers offer exclusive discounts and early access to sales for their most loyal customers, fostering long-term relationships and encouraging continued patronage. This method helps reward and retain high-value customers.

12. Occasion 

Occasion-based segmentation targets customers based on specific events or situations, like planning themed parties for different occasions. A greeting card company might market wedding cards to couples getting married, birthday cards to friends and family, and holiday cards during festive seasons. This approach ensures that marketing efforts are timely and relevant to the specific occasions customers are celebrating.

13. Channel-Based 

Channel-based segmentation groups customers by their preferred communication channels, akin to setting up different booths for email, social media, phone calls, and in-person interactions. Businesses can tailor their marketing efforts to ensure messages are delivered through the channels customers prefer, enhancing engagement and response rates by meeting customers where they are most comfortable.

14. Benefit 

Benefit segmentation divides customers based on the specific benefits they seek from a product or service, like a gym with sections for cardio, strength training, and relaxation. A beauty brand might market anti-aging products to those seeking youthful skin and eco-friendly products to those valuing sustainability. This approach ensures that marketing messages resonate with the specific benefits each segment values most.

15. Role-Based 

Role-based segmentation categorizes customers based on their roles within an organization or family, akin to organizing a workplace by departments. B2B companies often target HR managers with employee wellness programs, while home improvement stores offer DIY kits to family handymen. This method ensures that products and services are relevant to the specific roles and responsibilities of each customer group.

16. Health 

Health segmentation focuses on customers’ health needs and preferences, similar to a wellness center with areas for nutrition, fitness, and mental health. A health food store could market gluten-free products to those with celiac disease and protein-rich foods to athletes, ensuring that products meet the specific health requirements and preferences of their diverse customer base.

17. Usage Rate  

Usage rate segmentation divides customers based on how frequently they use a product or service, like a gym, categorizing members as daily users, weekly users, and occasional visitors. For instance, a streaming service might offer premium subscriptions to heavy users who watch content daily and free trials or discounts to light users to encourage more frequent engagement, tailoring offers to match usage patterns.

18. Customer Status 

Customer status segmentation categorizes customers based on their relationship with the brand, akin to differentiating new students, current students, and alumni. Online retailers typically send welcome offers to new customers, loyalty rewards to regular shoppers, and win-back campaigns to previous customers who haven’t purchased in a while. This ensures targeted strategies for each customer status.

19. Income-Based 

Income-based segmentation groups customers based on their income levels, similar to a shopping mall with sections for luxury brands, mid-range stores, and discount outlets. A travel company might market high-end vacation packages to affluent customers while offering budget-friendly options to those with lower disposable income, ensuring relevant and appealing offers for each income segment.

20. Education Level  

Education level segmentation divides customers based on their educational attainment, like a library organizing events for different reading levels. Online course providers typically offer advanced certifications to highly educated professionals while promoting basic skills training to those with less formal education, effectively catering to the learning needs and capabilities of each group.

21. Attitudes 

Attitudinal segmentation classifies customers based on their attitudes, beliefs, and perceptions towards a product or service, akin to understanding different fan bases for a movie. A sustainable fashion brand might target environmentally conscious customers with eco-friendly messages, while another segment might be attracted to the brand’s stylish designs, ensuring tailored marketing messages for each attitude.

Creating Your Own Customer Segments

Customer segmentation is a powerful tool that can significantly enhance your marketing strategy by ensuring your messages are personalized and relevant to specific groups. CleverTap stands out as a one-stop-shop customer segmentation tool, making it easy to understand and categorize your customer base through its robust analytics and real-time data capabilities. 

By leveraging advanced features like CleverTap’s Clever.AI , you can maximize your segmentation efforts, optimizing customer journeys, improving engagement, and ultimately driving higher conversion rates and loyalty. With these 21 c ustomer segmentation examples, you have a comprehensive list to refine your segmentation strategy and take your marketing efforts to the next level.

• customer segmentation examples

Head of Money Out Operations (Retirement Industry)

Remote , nationwide.

• Remote, Nationwide
• Opening on: Aug 29 2024

The Head of Operations is responsible for leading several teams of associates and developing strong working relationships with our internal clients.  This position will be involved in defining the operational (Money Out) strategies to efficiently meet client expectations; developing the process and implementation of an annual business plan; maintaining a high level of customer service; developing and maintaining strong operational controls; recruiting and coaching leadership staff; crafting long-term strategic planning; and creating and monitoring budgets.  The role will drive continuous improvement and fundamentally transform the day-to-day business overseeing strategic objectives, regulatory activities, and technological innovations to better the business.

This position can be located Hybrid preferably to Dresher PA or Newton, MA locations or remote.

Responsibilities :

Team Leadership:

• Develop, and implement the annual business plan; communicate to leadership and ensure understanding of the plan and alignment to the work and measurables
• Motivate, lead and support leadership team and associates to provide excellent associate direction. 
• Ensure talent development and training to respond to clients in a professional and consultative manner.
• Partner with leaders to ensure the creation and management of team deliverables, ensuring that quality and production service level objectives are consistently met or exceeded.
• Provide balanced feedback to leadership regarding performance and areas of improvement, motivation of team and support of the associate experience and empowerment
• Conduct regular staff meeting with leadership and teams providing updates and receiving feedback. 
• Provide guidance and support empowerment for leaders to mitigate and address escalated issues.
• Develop leadership competencies, expertise, ability, and experience for career pathing within Ascensus.
• Support team in escalating awareness broadly across appropriate teams’ issues requiring resolution; partner with internal departments to deliver timely resolution.
• Actively seek out ways to improve associate satisfaction and deliver results.

Serving Clients:

• Act as senior leader for clients and advisors looking for executive presence in plan level issue situations, audits, and service meetings.
• Serve as senior decision maker on escalated items.
• Drive leadership in monitoring and achieving daily production commitments, SLA and metrics as well as workflows in order to meet operational service commitments.
• Develop professional relationships with internal teams and stakeholders to ensure alignment of approach and satisfaction

Strategic Activities:

• Collaborate with internal clients Employer & Sponsor Services, Participant Services, Relationship Management and Sales to building services and support processes.
• Align department priorities to execute on business plan objectives to maximize revenues, client retention and organic sales.
• Team with executive leadership and peers to create strategy and vision for the Client Operations organization.
• Develop project plans and teams to achieve strategy and vision. Develop and drive efficiency plays and enhancements leveraging all Ascensus capabilities to achieve with automation or process refinement

Process and Business Management:

• Own budget planning and align current and future planning activities against budget expectations. 
• Ensure that the team’s decision-making processes are guided by data, real time metrics and capacity analysis.
• Educate and empower leadership team on best practice talent strategies for appropriate allocation of resources to meet business needs and operational service commitments/objectives.
• Document, Maintain and Revise operational workflows and Service Standards
• Monitor and actively manages department expenses and revenue generating activities to meet budget.
• Identify areas of improvement within Ascensus platform including workflows, policies, technology, products etc.  Develop improvement plans, gain support and execute.
• Work with peers in the senior management team to identify global issues and opportunities for improvement, make recommendations for changes and help implement.
• Responsible for protecting and securing all client data held by Ascensus to ensure against unauthorized access to and/or improper transmission of information that could result in harm to a client.
• Maintain and establish the environment enabling Operations teams to live by the Core Values of People Matter, Quality First and Integrity Always® should be visible in your actions on a day-to-day basis showing your support of our organizational culture.

Additional Requirements: 

• Bachelor’s degree in business administration, Management, Finance or equivalent work experience
• 10 years’ industry experience and at least 8 years of leadership experience of leadership roles and functions
• Demonstrated ability to lead with strong management skills
• Excellent written and oral communication skills
• Professional demeanor and experience with client meetings
• Excellent analytical and problem-solving skills
• Must be detail oriented and be able to work well within given timeframes and standards
• Familiarity MS-Office software applications, including Excel, PowerPoint, Word, & Visio (familiarity with Access preferred)

The national average salary range for this role is $140,000 to $190,000 in base pay, exclusive of any bonuses and benefits. This base salary range represents the low and high end of the salary range for this position. Actual salary offered will vary and may be above or below the range based on various factors including but not limited to location, experience, performance, and internal pay alignment. We do not anticipate that candidates hired will begin at the top of the range however, from time to time, it may occur on a case-by-case basis.  Other rewards and benefits may include: 401(k) match, Medical, Dental, Vision, Paid-Time-Off, etc.  For more information, please visit careers.ascensus.com/#Benefits . 

Be aware of employment fraud. All email communications from Ascensus or its hiring managers originate from @ascensus.com or @futureplan.com email addresses. We will never ask you for payment or require you to purchase any equipment. If you are suspicious or unsure about validity of a job posting, we strongly encourage you to apply directly through our website.

For all virtual remote positions, in order to ensure associates can effectively perform their job duties with no distractions, we require an uninterrupted virtual work space and there is also an expectation of family care being in place during business hours. Additionally, there is an internet work speed requirement of 25 MBps or better for individual use. If more than one person is utilizing the same internet connection in the same household or building, then a stronger connection is required. If you are unsure of your internet speed, please check with your service provider. Note: For call center roles specifically, it is a requirement to either hardwire your equipment directly to the internet router or ensure your workstation is in close proximity to the router. Please ensure that you are able to meet these expectations before applying.

At Ascensus, we aspire to make a difference for others. We are a technology-enabled services company that helps people save for a better future through our network of institutional, financial advisor, and state partners. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity—housed within our Core Values: People Matter. Quality First. Integrity Always.®

Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws (“Protected Status”).

By providing my contact information to Ascensus, I agree that Ascensus or its service providers may email, call or send me text messages about career related opportunities.  I acknowledge that listing my cell phone number is not a condition of receiving any career updates.  By listing my cell phone number, I certify that it is accurate and that I own the rights to give consent to text the number provided.  Message and data rates may apply. For more information about Ascensus’ data privacy practices, please visit our Privacy Management page .

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