When we think about private investigators, the first thing that comes to mind is catching a cheating spouse. It’s either that or the mystery and intrigue of complex cases and the tracking down of criminals.
Too much Columbo?
While PIs certainly do the things mentioned above, they are actually hired for a wide variety of reasons because many different types of people and businesses can benefit from the services of a private investigator. And many of these reasons have nothing to do with either crime or detective work.
So, who is the target market for private investigators?
In this article, we will discuss the different types of people and businesses who can benefit from hiring a private eye. So, whether someone’s a business owner who wants to catch employees stealing from them, or they’re an individual looking to find a missing loved one, there’s definitely a private investigator out there who can help!
Who is the Target Market for Private Investigators?
One of the best ways to understand the target market for private investigators is to look at the reasons and the motivations why an individual or a business would need the services of a PI or of a private investigation firm.
Using this segmentation criterion, we can divide the target market for private investigators into the following main segments:
- Individuals who need help with a personal matter
- Businesses who need help with an employee issue
- Businesses who need help with a competitor
- Attorneys who need help with a case
- Insurance companies who need help with a fraud investigation
Let’s take a closer look at each of these segments of the target market for private investigators in turn.
1. Individuals who need help with a personal matter
This segment of the target market for private investigators includes individuals who need help with a wide variety of personal matters. These can include things like finding a missing person, catching a cheating spouse, or investigating someone who is making false claims against them.
Such people turn to a private investigator because they need help with something that is outside of the scope of the police or other law enforcement agencies.
For example, if someone thinks their spouse is cheating on them, they could hire a private investigator to conduct surveillance and gather evidence. Or, if someone feels they are being harassed by someone online, a private investigator can help them track down the person and gather evidence to support their case.
2. Businesses who need help with an employee issue
This target market segment includes businesses that may need to hire a private investigator to help them with an employee-related issue.
This could be something like investigating employees who are suspected of theft or looking into allegations of harassment or discrimination. It could also involve looking into fraud or other illegal activities.
Sometimes businesses will hire PIs to conduct background checks on potential new employees. This is especially common in cases where the business is looking to fill a high-level position or a position of trust.
There are cases where businesses need to investigate an employee for leaking information to the press or even to a competitor. A qualified private investigator is often the best person to handle such delicate and sensitive cases.
3. Businesses who need help with a competitor or partner
Sometimes businesses need to investigate other businesses. A business might suspect a competitor of an illegal activity – like bribing a customer. Or, a business might need to find out more information about a potential partner or investor.
In these cases, businesses will often turn to private investigators to help them gather the information they need. This type of customer is actually quite common for private investigators.
Some PIs are also experts in finance and can help businesses with things like due diligence or tracking down assets. This can be especially helpful in cases where a business is owed money or is involved in litigation.
In some cases, businesses may even hire PIs to conduct surveillance on their competitors in order to gain an edge in the marketplace. In other cases, they may want to take a closer look at a potential business partner before entering into any kind of partnership or joint venture.
4. Attorneys who need help with a case
Attorneys can be a consistent target market for private investigators.
This segment includes attorneys who need help with their cases. Attorneys will often hire private investigators to conduct surveillance, gather evidence, or track down witnesses. A possible assignment could involve investigating a witness who is suspected of lying, or looking into allegations of fraud or misconduct.
In some cases, an attorney might need a private investigator to help them find more information about the other side in a legal case. Sometimes they may even need help in investigating one of their own clients.
Either way, attorneys often need the services of qualified and experienced private investigators and these relationships can tend to be long lasting.
5. Insurance companies who need help with fraud investigations
Insurance fraud is more common than many people realize. Insurance companies lose billions of dollars every year to fraudsters.
So this target market for private investigators includes insurance companies that need help investigating cases of fraud. These investigations can be quite complex, and they often require highly qualified private investigators.
Private investigators who work with insurance companies often have experience in things like surveillance, asset tracing, and background checks.
They also need to have a good understanding of the insurance industry and how insurance fraud works. This market segment can be quite lucrative for private investigators.
Summary
The target market for private investigators includes individuals and businesses. Individuals may need a private eye to investigate a personal matter. This could be finding a missing loved one or keeping tabs on a spouse suspected of cheating.
Sometimes people need private investigators skilled in tracking and surveilling other people on the internet. A common reason individuals hire PIs is to track someone who is harassing them online and collect evidence against them.
Businesses turn to private investigators for a variety of reasons. Sometimes it’s to track an employee who is suspected of theft or fraud or of leaking confidential information to competitors or the press. Other times it involves investigating allegations of discrimination, racism or harassment. Businesses also use PIs to find information about competitors and potential partners, and do due diligence on future employees.
Finally, a lucrative target market for private investigators includes attorneys. Attorneys habitually need private investigators to gather evidence, find witnesses or get information on the opposition’s tactics. Sometimes they may even need to investigate their own client.
