BizMiner
Market Research Edge
#9 Using Average Employment
Data to Assess Growth
1. Average Employment statistics offer
a different perspective on employment and staffing growth
trends than our Employment Class measure (Market Research Edge #10).
2. BizMiner’s national Market Research Profiles break out average employment data for
three different industry segments: all industry establishments,
small businesses (25 employees or less) and startups (one
year or less in operation).
3. Metro Market Research Profiles
compare national average employment data against local business
establishments in the same industry.
4. In addition to industry “snapshots”
(averages captured for firms at a particular point in time),
Market Research Profiles also offer “survivor”
average employment data. This measure compares sales growth
among businesses which were already in operation at the
start of the analyzed time series with those which more
recently entered the national or local market. The difference
in employment change between the average “snapshot”
and the survivors can be an instructive way to project growth
patterns for longer-term, more stable firms.
5. Average employment and employment
growth patterns may differ radically among segments within
an industry. Accessing those differences allows you to target
segments most compatible to your marketing research needs
and incorporate those targets into your marketing plan.
For example, if competitor small businesses lag larger firms
in employment measures, market penetration may prove difficult.
If local firms are expanding more quickly than national
average employment benchmarks, the area may possess characteristics
important to industry success – and warrant more attention.
6. Conclusion: The ability to segment
industry and area targets is critical to sound marketing
research and a solid marketing plan. Average employment
data, segmented by industry group and size, geographical
area and firm maturity (for example, startups and survivors)
is key to your analysis of industry customers and competitors.
Average employment data coupled with multi-year trend analysis
for each segment provides a key tool in focusing your marketing
plan.
Average Employment tables are
included in every one of BizMiner's 900,000 online Market Research Profiles, available for over 15,000 business segments.
Market Research Profiles are available in both national
and local versions covering over 250 US metropolitan areas.
Available online at www.bizminer.com/market-research-report.asp.
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