Reach new customers with your products and services within new, uncontested markets – adjacent customer segments or new geographies. Sell your product in its best fit, its strongest advantage, with minimal competition. Improve sales channel engagement and performance.
- Research and review of the markets that are successful for you today, and why. Review your go-to-market strategy.
- Research, analyze, and report on (global or local) markets for the ability to compete, gain market share, grow revenue, and sustain or grow profitability.
- Define actionable segmentation, research and identify barriers to entry and local competition, and develop the navigation to succeed in new markets.
- Analyze and understand your customer purchasing strategies, future product needs and develop offerings where mutually beneficial.
- Opportunity analysis to identify differentiation and uncontested markets – locally, nationally, and internationally.
- Competitive and alternative/displacement offerings analysis, saturation level of target market with similar products.
- Define the criteria and strategy to target specific markets where your product is at its strongest advantage over the competition.
- Develop a strategy canvas with competitive dimensions including key factors and competitor differentiation ranking.
- Determine the most productive approach and sequencing of activities for new market entry and development. Identify resources including budget, people, systems and technology. Align and allocate resources, develop the rollout plan, and systematically measure the key performance indicators.
- Identify key operational performance metrics for measuring near term growth. Identify key metrics to measure the creation of long term value and profitability. Establish the reporting and data analytics to measure progress.
- Clarify your brand vision, your most compelling benefit, and your differentiated voice to your customer.
- Prioritize the growth markets and determine methods for reaching future customers.
- Create target market profiles – characteristics of the target market, situational criteria, and the compelling reason to buy.
- Create and implement market development plans identifying new business opportunities and products, defining objectives and success metrics, and delivering results.
- Develop a comprehensive marketing and communication strategy aligned with your company’s strategic plan and designed to increase growth in target markets.
- Grow customer awareness in priority markets – online through digital content production and distribution, influencer marketing, as well as offline through presence at conferences and establishing analyst relations.
- Implement an ongoing data reporting process to monitor your growth market key performance indicators (KPIs).
- Improve sales channel engagement and performance – with training, selling tools, and effective buyer incentive programs, driving sales growth across multiple e-business channels.