What does the Market Breakdown Tool do?
The Market Breakdown Tool allows you to view local marketing and demographic data for several industries and the potential monthly customers to compete for. Search by industry and zip code to see specific marketing data for that area. You can access the Market Breakdown Tool here.
Here are a few example data results:
Why did I create this tool?
I'm surprised at how little resources exist for small business owners to get marketing data for their business in a simple and quick way. The majority of this data exists in obscure places in books and across the internet. I wanted to create a free, easy way for small business owners to get access to this information.
There are only so many buyers.
Many small business owners I talk to have delusions of grandeur when it comes to how many potential customers they might be able to get. It's one thing to want 500 new customers from a certain local area, it's another thing if that many people needing your product or service are actually out there. The Market Breakdown Tool can give business owners an estimated snapshot of how many customers all competitors are competing over every month.
Lifetime Customer Value
In addition to accessibility, I'm trying to raise awareness for small business owners to the concept of Lifetime Customer Value, versus just the revenue from the initial sale. Through the Market Breakdown Tool, I aim to start the conversation for many people about how valuable keeping a customer can be.
People change their dentist maybe every 10 years. That's a lot of return trips to the dentist. If I'm a dentist, I shouldn't worry too much about the upfront marketing cost to get that first visit, knowing that for very little cost after that, I can keep that person coming back.