In Part 1 of this blog series we set the tone and introduced the 6-Step Process we've developed for Market Analysis. In this edition we provide examples and details of each step so businesses can objectively evaluate their product-market fit and set realistic revenue targets.
Eliminate Assumptions - Work with Facts
The whole premise of market analysis is to destroy your business plan. That’s right… bombs away, blow it up.
Sales funnels need our help! They are working hard to keep our customer relationships strong, to improve conversions and deliver revenue, but they can't do it alone.
As businesses grow and sales cycles become more complex, it's important cross-functional teams actively work together to help achieve mutual long-term goals. Collaborative companies stress the benefit of teamwork for support. Why not collaboratively support our sales funnel? When sales, product management and marketing work together massive benefits are created that fuel sales growth by unifying goals and giving rise to a customer-centric organization.
As a company interested in understanding the Return on Investment of marketing dollars, where do you begin? At the business goal and then define the programs, campaigns, tactics and resources required to accomplish the task.
This Month’s Featured App - Problemio’s Business Plan
For entrepreneurs and startups, we’ve found a nifty app that provides guidance and instructional support for building a business plan. The app is free, simple to use, and offers a step-by-step approach for creating the components of a business plan. Check out the details on our blog.