I keep writing about the Single Target Market in many of my posts. I recently also wrote about how you can do a Root Cause Analysis (RCA) if your product is not doing as per expectations.
When you do a RCA, I have noticed most of the times in my case, the challenge has always been in identifying the Single Target Market and defining it clearly.
Since I deal primarily in B2B , its not just about the geography that I need to focus on. Its not just an industry. You have to learn to go deeper to identify to even the level of person you intend to target.
In a recent exercise that I was doing I realized that the level of person my team had to contact was based on the size of company we were targeting. However our services were not good for companies below a certain level of revenue
When we hit the higher level of revenue the level of people we were targeting were not the people looking for a solution to the problem we solve. It was a very tight line for us to figure out. But what came out of this was an even higher appreciation of the advantage of going deep for the Single Target Market.
This concept is like an onion, each layer that you peel, makes you realize what else is beneath the surface.
Till next time then.