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09Nov

Effective Market Segmentation Critical for Language Service Providers

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Research findings by Common Sense Advisory conclude that segmentation is a must for translation, interpreting, and localization companies that want predictable growth

(BOSTON) --Unfocused lead pipelines cause many language service providers (LSPs) to waste precious sales and marketing resources. Unsure as to which prospects to pursue, they market to a broad spectrum of buyers that cross company sizes, industries, geographies, and countless other attributes. As a result, sales are unpredictable.

Independent market research firm Common Sense Advisory (CSA Research) found even the largest translation, interpreting, and localization suppliers need guidance to develop a more strategic approach to targeting buyers.

LSPs without a segmentation model waste time and energy on unfocused marketing, pursuing the wrong accounts, or prospects that have a low potential and/or profitability. While you have to invest ahead of seeing results, this structured segmentation approach provides LSPs with a more consistent manner to obtain the type of revenue you are interested in rather than random campaigns and calling,” comments Don DePalma, Chief Strategy Officer at CSA Research.

To equip LSPs with the tools to succeed, CSA Research analyzed the methods used by sales and marketing executives at successful LSPs. The firm also drew on best practices from other fields to provide a step-by-step segmentation approach to guide anyone responsible for branding, marketing, sales, or account managementin the US$40 billion language services industry.

The 47-page report “Effective Market Segmentation" contains the following research-based tools and recommendations:

  • What market segmentation entails, why it is a must, and an outline of the general process
  • How-to descriptions of the segmentation stages to help LSPs qualify prospects in the segments they develop
  • Seven-step segmentation process plus four common concerns with segmentation
  • Guidance to refine results and identify the best targets
  • Marketing plan development and execution strategies

Market Segmentation Strategy” is available as part of the firm’s research membership.

About Common Sense Advisory

Common Sense Advisory is an independent market research company helping companies profitably grow their international businesses and gain access to new markets and new customers. Its focus is on assisting its clients to operationalize, benchmark, optimize, and innovate industry best practices in translation, localization, interpreting, globalization, and internationalization. For more information, visit: http://www.commonsenseadvisory.com or www.twitter.com/CSA_Research.

Tweet: Market segmentation is a must for LSPs that want predictable growth http://ow.ly/ZrGH305Wu3b via @CSA_Research Media contact: Melissa C. Gillespie, melissa@commonsenseadvisory.com, +1 760-522-4362

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