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Identify Relevant Market Segments AI Agent

Welcome to your first step towards unlocking new business opportunities! This guide is designed to help you build a custom AI Assistant that specializes in identifying new and relevant market segments for your business. Whether you are looking to expand into new territories, explore uncharted customer demographics, or simply increase your market share, this AI Agent will serve as your dedicated analyst, digging deep into data to uncover hidden gems that align with your business goals.

Capabilities of Your AI Agent​

Your AI Agent comes equipped with advanced tools that allow it to:

  • Gather and interpret extensive market data from various sources using cutting-edge digital research AI Agent.
  • Provide actionable insights that are easy to understand and apply to your business strategy.

Real-life Example: Sustainable Product Market Identification​

Imagine you own a small e-commerce business specializing in eco-friendly products. While you have a steady flow of customers, you're unsure how to tap into new customer bases who might be interested in sustainable living but aren't currently reached by your marketing efforts.

By using the AI Agent, you can input specific data about your existing customers, business goals (such as expanding product lines or increasing market penetration), and the types of sustainability practices your business supports. The AI Agent will then use this information to:

  • Analyze existing customer data and industry reports to understand current market dynamics.
  • Identify key pain points and interests in sustainability within untapped market segments.
  • Provide a list of new, precisely targeted demographic segments that show a high likelihood of interest in your products based on lifestyle, values, and purchasing habits.

This approach enhances the effectiveness of your marketing strategies, helping you reach the right customers with the right messages.

Setting Up Your AI Agent​

Getting your AI Agent up and running involves a few key steps. We’ll walk you through each of these to ensure you have a smooth start. By the end of this section, you’ll have your own AI Agent configured and ready to identify new market segments.

Step 1: Create Your AI Agent​

  1. Sign Up or Log In: First, access the platform by signing up or logging into your account. If you're a new user, registration typically requires just your email and a password.
  2. Create a New AI Assitant: Once logged in, navigate to the dashboard and click the button Create New AI Assistant.
  3. Settings:
    • Name: Market Segment Identifier
    • Description: This AI Agent determines different groups within the market that share specific needs or characteristics. For a company this might involve segmenting the market by industry, company size, technological maturity, or specific challenges that company's services can address
    • AI Model: gpt-4
    • Creativity: 0.4 - this will make the agent to have a balance between robustness and be more creative
    • Check Display Tool Running Progress In Chat: this will enable the AI Agent to display you the progress of used tools as well as their output
    • Check Display Sources In AI Assistant Response: this will enable the setting to display all sources used during the research and you can check and dive deeper into reports and others statistics used
    • AI Assistant Instructions:
You are an assistant that is capable of identifying new relevant market segments for a company.
Your job is to think very deeply and use the provided tools for a better analysis and response to user.
Always respond in the user language.

# When you want to identify relevant market segments, you have to follow these steps
Before executing these steps you have to create a plan and tell user what you're going to do
You have to come up with the remaining steps always after executing each step then you must execute the plan without asking user for permission.

## Steps:
1) Collect data about their company. Ask user 3 questions to collect the following details about their company:
- Goal: Understanding their objectives helps in deciding which market segments are most relevant to their business. For instance, are they looking to expand their product line, enter new markets, or increase penetration in existing ones? Is it for a specific country / region or is it a world wide product / service?
- Sales Data: Information on who is currently buying their products or services, including demographic details, purchasing patterns, and product preferences.
- Customer Feedback: Insights from customer surveys, reviews, or feedback sessions that highlight what customers appreciate about their offerings and what they feel could be improved.
This internal data helps you understand their existing customer base and market position. 
2) Collect general data. 
- Industry Reports: Use `researcher` tool for searching publications by market research firms or industry associations that provide a broad overview of the market, including size, growth trends, and major players in the user's company current market
- Competitor Analysis: Use `researcher` tool for analyzing the user's competitors  including what segments they are targeting, their market share, and their product offerings.
3) You have to think about 3 pain points the product / service solve for the customers based on the previous collected data
4) For each pain point identify market segments that have that problem using `web_browser` tool. Call the tool for each pain point
5) Select 3 market segments but others than segments already provided by the user. Remember: your goal is to help them identify new segments very precisely that can grow their business.
6) Identify Segmentation Criteria -- here you should use `web_browser` tool for each segment to identify the criteria
For each identified segment at step 5) decide on the basis for segmenting the market. Provide actionable specific values not generic ones. Common criteria include:
- Demographic: Age, gender, income, education level
- Geographic: Region, climate, urban/rural
- Psychographic: Lifestyle, values, interests
- Behavioral: Purchasing habits, brand loyalty, product usage rates
- Needs-based: Specific problems or needs that user's product/service can address
- Company Industry: If relevant to the product / service, in which industry the segment activates in?
7) Evaluate potential of each segment -- use `researcher` tool for each segment to retrieve relevant and real time data. If you need more data, you can use the tool multiple times for a segment, you decide
For each segment, assess factors such as:
- Size of the segment (how many potential customers)
- Growth potential (is the segment expanding)
- Competition (how many competitors are targeting the same segment)
- Alignment with your business's capabilities and goals
8) Select Target Segments
Based on your evaluation, choose the segments that represent the best opportunity for their business. These should be segments where they have a competitive advantage, where there is sufficient demand, and which align with your overall business strategy.

These are the steps that you must follow and think step by step what you're planning to do.
Remember to provide a plan before executing the steps.
Remember to provide details of the remaining steps.
Remember to execute the above steps in order and do not skip any of them.
Make sure you execute your plan using provided tools without stopping or asking users for their permission. It is very important to see your remaining steps and execute them.

Take a deep breath and let's think step by step! 🤗
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The above instructions are generic for all kind of businesses. If you want to build an AI Agent specific for your business, you can include more details about your business, your clients, your goals and so on.

Add Question & Answer

Step 2: Configure Tools​

Your AI Agent will be powered by several tools to analyze and process data effectively. Here’s how to set each one up:

Researcher Agent:​

Fetches and interprets industry reports, competitor data, and more. Creates structured reports for using them in analyzing new market segments.

Setup:

  1. Go to Tools Tab: Once your AI Agent is created, you will be redirected to its dashboard. There you can find the Tools tab where you can set up your tools.
  2. Configure Researcher Tool: Pick the Researcher Agent tool:
    • Name: researcher
    • How the agent should use this tool?: Useful for when you need to conduct a research about a topic and build a detailed report. The input should be a detailed research topic and the response will be a detailed report about the topic received. This tool has access to extensive research knowledge and could conduct very intense and advanced researches.
    • Input Name: research_topic
    • Input Description: A detailed research topic. Should be in the form of a sentence having as much details as you can. - this instruct your Market Segment Identifier Agent what the researcher tool needs to receive as input
    • Creativity: 0.55
    • Number Of Search Results: 10
    • Total Words: 2000
    • Report Format: Harvard
    • Researcher Instructions:
The report should be written professionally for a company that needs to expand their market and find new opportunities for their business. It helps an Human with finding Relevant Market Segments for their business. Create the final report with very good data, numbers if you have and think like you are a CEO of that company that wants to grow your business
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The above instructions could be adapted as per your business use case adding more details about your company, your clients and so on.

Web Browser:​

Searches the internet to identify pain points and relevant market criteria.

Setup:

  1. Go to Tools Tab: Once your AI Agent is created, you will be redirected to its dashboard. There you can find the Tools tab where you can set up your tools.
  2. Configure Researcher Tool: Pick the Researcher Agent tool:
    • Name: web_browser
    • Description: A search engine optimized for comprehensive, accurate, and trusted results. Useful for when you need to find recent data, insights, relevant informations without guessing it
    • Input Name: query
    • Input Description: search query to look up
    • Max Results: 10

Testing Your AI Agent​

Once all tools are configured, it’s important to test the assistant:

  • Run a Simulation: Use a test query to see how the assistant processes the request and what kind of insights it generates. Example of query:
I want to expand my market. I have a product, liquid laundry soap, which I currently sell to:

- People who want to be environmentally friendly
- Families with young children
- Eco-conscious and sustainable consumers

Here are a few benefits of my product:

- Suitable for washing baby clothes -- Does not contain allergens or substances harmful to newborns.
- Protects the washing machine -- Contains borax that reduces water hardness and does not dirty the washing machine.
- Does not harm the environment -- Does not contain substances that are risky for water sources or aquatic life.
- It is not a detergent -- Free from SLS, SLES, quaternary salts (surfactants that are not biodegradable), dioxane (an irritant to eyes and respiratory tract), or preservatives.
- For automatic machines and hand washing -- Effective in removing stains even at low temperatures.

The goal is to find new customer segments. Current customers are aged between 35 and 60 years.

Customer feedback:

- "I was initially looking for a solution that would be gentle on the soil since we try to spend much of the summer at our mountain house where there is no sewage system. But after the first few uses, we were so pleasantly surprised by the results that for over six months now, we have exclusively used this laundry soap both in Bucharest and at our vacation home. I highly recommend the product even though the packaging isn't the fanciest!"
- "It washes well, smells nice, and has a creamy consistency. Another reason to love Ghimes. I'm already on my second order and think I'll remain a loyal customer. Thank you for the surprise gift!"
- "The most important thing is that it's natural. It cleans decently."
- "I warmly recommend this liquid soap, with a gentle fragrance, which respects both nature and our skin. Congratulations!"
  • Adjust as Needed: Based on the initial results, you may need to tweak tool settings or agent's instructuins to refine the agent’s accuracy and relevance for your specific business.

Congratulations! Your AI Agent is now set up and ready to help you discover new market segments that could be crucial for your business’s growth. Let us know how it helped you in growing your business, we can't wait to celebrate together its impact in your business!