I keep writing about the Single Target Market on a consistent basis. For any new marketing initiatives this has to be your starting point. As I have mentioned in my posts earlier also, if you’re in the B2B space then this becomes a lot more complex.
The decision making is much more challenging in the B2B space. Depending on the size of the company, the research would be done maybe 2 layers below the actual decision makers.
Now when you think of a Single Target Market in case of B2B, you then need to go deep, to analyze the revenue ranges, the industry, the use cases, the actual people whom you will need to talk to etc.
Once you have mapped the people, roles, you will need to figure out a way to reach them. This is critical because there are both technology gate keepers (like spam filters) and human gate keepers as well. In addition these people already have incumbents who are providing them with similar products or services. So they won’t change their supplier in a hurry.
Which means you will need to have a clear methodology to ensure that you figure out a way to identify the dissonance with the incumbent and then provide value much larger than the incumbent.
By focusing on the Single Target Market you will soon understand the challenges all the customers could be facing with all the incumbents. This will help you get customers faster.
Till next time then.