A market perspective is more than facts and figures. If you are going to use market energy to drive the sales process, you need a profound understanding of why people will change their behavior and adopt your technology-enabled solutions. Although estimated market size and growth projections are important things to know, the qualitative information about what is motivating customers to change is often more useful. A market perspective is information that helps you understand the fundamental causes driving technology adoption and market evolution. It is a “big picture” perspective of the market today and in the future.
Information Required to Harness Market Energy
Technology Value Proposition
A definition of the technology; its potential applications, what people do currently to satisfy fundamental needs; how the technology will cause people to change their behavior; benefits users can expect from adoption, and how it will create incremental wealth, so you understand how your technology solution will create new markets and wealth.
A definition of the economic, demographic, regulatory, and technology trends that are causing the new market to develop; quantification and descriptions of the increasing desire for what the technology enables, and quantification and descriptions of the costs of legacy constraints, so you understand what is causing the market to evolve and how it creates market energy.
Emerging Market Segments
Explanation of how the market drivers are interacting to create change; the impact of these changes on consumer and organizational behavior, and emerging business strategies designed to support these new behaviors, so you can identify high potential market segments and find opportunities faster.
New business strategies that enable companies to respond to the market change and capture new opportunities, including how the strategies work; what they accomplish, and expected results, so you can create demand.
A definition of strategic, economic, operational and technological motivations for adoption including how the technology enables new business strategies; increases profits; improves productivity, and enables new capabilities, so you can focus your prospecting.
Profiles of Early Adopters
Descriptions of early adopters; why they bought the new technology; how they applied it to build competitive advantage, and early results and benefits, so you can score early wins and build market credibility.
S-curve analysis of the market evolution; description of the fundamental causes of adoption; forecast of 50% market adoption milestone, and evolution of new customer’s compelling reasons to buy, so you can forecast the tipping point and maximize your market share potential.