I have written and emphasized so much on segmentation and nicking. On starting with a single market only.
The very nature of the technology industry is very dynamic. Which means when you have built a product using some components, you have a use case which you think is where it can be utilized. However when you take it to your existing customers for their feedback – these are also called beta sites – you realize massive adoption problems.
However the same product in a different segment gets adopted very fast. This is where segmenting by usage becomes very useful.
If you can list the possible usage in different industries then take one, do a survey and then if you find resistance move to the next, till you find the industry where your services can go into production.
Then target to dominate that industry as you continue to identify the next industry where you can utilize the same service.
For a product management person this is a critical factor in the technology sector. In the consumer segment adaptation of the same product may or may not happen. But for the technology segment, where a lot of investment goes in building new products and the window of opportunity is very small, the product management person has to really push for various use cases fast
With small changes you can make the product or service specific to a given industry and then capture it.
But you always have to start small, fail fast, learn fast, adapt and move to the next segment.
Since marketing is more applied psychology, the faster you learn, the higher is the possibility of success in technology marketing.
Till next time.