Episode A.008 Building Your Offer By Market

Based on yesterday's Episode A.007 it is time to begin defining the market and your offer(s). It is not the final pass, just putting a stake in the ground for testing - is this the right approach for this market? It will be visited again before allocating resources and implementing.

Special Note: many times you cannot answer these questions with validated information, that requires assumptions to fill in the holes. Answer each to the best of your ability and make part of the first sales attempt an opportunity to replace the assumptions.

Conduct or Gather Market Research

• Identify pain points (needs) by targeted industries or companies;
• Identify targeted industries, companies, or consumers with budget to obtain acceptable margins;
• Identify targeted industries, companies, or consumers that fit your processes;
• Match current product/services brand offer with sales opportunities. 

Analyze Sales Opportunities

• Given what these companies or consumers are currently buying, identify why are those products and services not sufficient;
• Match specifications of our image, products, services against what is being sold;
• Identify the greatest gaps between our and the competitors offer that provides an opportunity to sell;
• Identify unfulfilled gaps where no offer solves the problem.

Market Scope

• Clarify the demographics (age, gender, position, etc.) and psycho-graphics (buying decisions, etc.) of the decision maker;
• Clarify how our offer provides superior value (or solves problems better, etc.) for the client;
• Build your product/service ladder (entry, basic, core, advanced) with features and pricing.