It’s a question that keeps many a startup executive team up at night — what’s the best mode of entry to break into an emerging market?
There is no right or wrong way to enter a market. The mode of entry depends on the opportunity, what you know about it, and the opportunity cost of putting that effort and money into another opportunity.
Looking to keep closer tabs on the competition? Here are 10 competitive research tactics to help you gather the info you need to establish a significant competitive advantage.
These days, it’s easy to become obsessed over the amount of data you can leverage to develop a better understanding of your customers. But if you’re serious about dominating your market then there’s another group you should be researching, as well — your competitors. Understanding your competitors is key to developing effective growth strategies, especially as it pertains to market positioning, pricing, discounting, and up-selling.
If you’re wondering where to start, the first step is to stop pretending they don’t exist, and learn to embrace the idea that you have top competitors. From there, the ten competitive research tactics below can be great ways to gather information on them.
Cause marketing can end up being counter productive if the brand stands out over the cause. TUGG Executive Director David Brown shares three tips that can help companies avoid falling into that trap.
The 2014 Boston Marathon was a major milestone, not just in Boston but also across the nation. Millions of us pulled together and turned out for the event or tuned in on our computers and televisions. We cheered on Ernst van Dyk as he rolled across as the first finisher for this year’s event, Rita Jebtoo as she won her second straight Boston Marathon, and then Meb Keflizighi as he became the first American to win the marathon since 1983. And then, with even greater anticipation, we kept watching as 33,000 others finished the race.
What was clear throughout was that this year’s Boston Marathon was run with a sense of unity and community that brought out individuals and organizations like never before. We were resilient, we were united, and we were #BostonStrong.
Amidst all that, there were naturally many brands making plays to align themselves with the clear emotions of the day. Facebook and Twitter were littered with paid promotions by companies — some national and international brands, some smaller local brands — claiming their support for Boston and the victims of last year’s tragedy. But while some of these moves garnered support, a quick review of comments shows just how many struck a chord with their audience as inauthentic, pandering, or exploitative.
By staying ahead of the curve on these IT channel predictions, you can save yourself a lot of downtime, and headaches, this year.
You might still think of the IT department as a group of guys who judgingly ask you if your computer is turned on. But the truth is they can save your bacon when things go south. Even more so, they can keep things from going south in the first place. Rick Faulk has been looking into his crystal ball and lays out his IT channel predictions for the upcoming year in this post at Intronis.
Ready to open the door to a wealth of information about your customers that can vastly improve your go-to-market activities? Here are seven reasons why your company needs to start conducting buyer insights research now.
Many B2B companies lump customer segmentation research and buyer insights research into the same category of research tactics. However, buyer insights research actually takes understanding target customers a step further. Whereas customer segmentation research gives you a glimpse into the organizations that make up your target market, buyer insights research allows you to actually understand the buyers within those organization — the living, breathing people with individual pain points, interests, and goals.
What separates the companies that make it past the early growth stage and those who don’t? A big factor is the ability to target the right customer segments and dominate them. OpenView founder Scott Maxwell shares five market segmentation strategies proven to work.
At OpenView, we spend a lot of time helping our portfolio companies segment their customer markets and then developing a strategic plan for what segments they should attack, how they should attack them, and when. There are lots of strategies to consider and unfortunately many companies don’t take the time to thoughtfully develop and execute any of them. Below are five basic strategies for you to consider that will help you think about which potential customers you should be focusing on. Your mission is to figure out which ones are best for you and how to execute them.
If you’re a startup, you might be more concerned with your day-to-day than developing your go-to-market strategy for the long haul. But as OpenView founder Scott Maxwell explains, designing your strategy now will go a long way towards helping you win the war for customers and one-upping your competition.
Editor’s Note: This is OpenView founder Scott Maxwell’s fourth post in a multi-part series about go-to-market strategy design. Read his previous posts to learn the key to market clarity, why focus is everything, and how you can apply the tools of design to your market strategy.
If you think about the best strategies — the ones that have allowed nations to win wars, small businesses to develop into multi-billion dollar corporations, and sports teams to win elusive championships — you will realize that those strategies were never static. Instead, they were highly adaptable, evolving over time to adjust to changing circumstances, capabilities, and objectives.
Your buyers are living, breathing people with individual pain points, interests, and goals. Understanding those people and the paths they take to purchasing your product is crucial to running a successful business. Achieving that level of understanding, however, takes more than just critical thinking. It requires systematic research. Buyer Insights Research: How to Understand Your Buyers So You can Eliminate the Guesswork outlines a step-by-step approach to conducting the kind of research your company needs to: Introduce a more customer-centric way of thinking across the organization Improve customer acquisition effectiveness Focus on the decision-makers within a target company and their…