Episode B6.010 Increasing Marketing Penetration - New Offer to Adjacent Markets

RESULTS RADIO..."Let's Grow Together

Introduction
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Show Objectives - The Why
Since we are in Stage VI, today's focus is on how big of a market is there for the new/upgraded offer. You will obviously start with current customer base first but at some point that will be exhausted and you new opportunities that have a low barrier of entry.

Key Issues - Owner/Manager Perspective:

1. What is the total available market for our new/upgraded offer?
2. What are similarities and differences between existing customers and those in adjacent markets?
3. What modifications, if any, do I have to make to sell into the new markets?

What You Need to Know - The What

• EPISODE C6.005 INVESTIGATE AND IDENTIFY OPPORTUNITIES IN NEW MARKETS

• EPISODE E4.004 FOCUS ON MONOPOLIZING TARGETED NICHES

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What You Need to Do​​ - The How

1. Examine the similarities and differences between existing and adjacent markets:
   1. Your Product and/or Service Offer
   2. How the Application works
   3. How it impacts the Customer - competitive advantage or lifestyle
2. Determine if your current approach to marketing & sales will work in this market.
3. What obstacles will you encounter in the adjacent market that is different than current markets?
4. Build the case - what is your story or narrative to explain entrance into this market - the basis of your marketing collateral and campaigns.
5. Right Team? How should you configure the marketing and sales teams? Sam,es as before or create special groups until your offer is accepted and selling?

Shows

• Previous: EPISODE B6.009 INCREASING MARKET SHARE - NEW OFFER TO EXISTING ACCOUNTS
• Next: Episode B6.011 What happens When We Complete the Loop - Back to Stage III?
  
  written by eman