Advanced target market research, development and analysis has always been one of our core competencies. Effective B2B lead generation requires you to know the exact companies that comprise your target market. We are the partner companies call upon when they need a data driven approach to lead generation.
Read our unique insights about losing sales to “no decision.”
“Understanding the market potential for your product or service lets you set realistic sales and revenue goals. This understanding must be more than a superficial market definition. It needs to be specific. Knowing the exact companies that make up your total addressable market is essential to setting goals. Without this, it is impossible to effectively plan, set realistic targets and track progress.”
Identify the Exact Companies in your Total Addressable Market
Developing a successful lead generation program starts with target market research to provide you with a clear understanding of your Total Addressable Market (TAM) and your Ideal Customer Profile (ICP). Once your TAM and ICP are defined you might be tempted to start your lead generation campaign targeting the entire audience. But there is another critical step you must take first — segmenting your TAM and prioritizing the market segments that are likely to be the best fit.
By segmenting and prioritizing your target account lists you can better structure and measure your lead generation program. This allows you to focus your lead generation efforts on those high-value targets and achieve the best economic return on your efforts. Well defined and managed market targeting is essential for lead generation success.
Total Addressable Market Research and Analysis
WHAT WE DO
Identify Prospects within Your Reach
Growth Orbit’s target market research service involves in-depth analysis, market sizing, and Ideal Customer Profile (ICP) analysis to develop actionable and successful growth strategies for your specific market opportunity.
Growth Orbit can help business leaders answer the following questions:
What is the full-potential value of your total addressable markets?
What segments are the most productive targets?
What growth opportunities exist in your core business?
How well do you understand your customer’s needs and priorities, and how well prepared are you to address them?
Are you getting the optimal return on investment (ROI) for your sales and marketing spend?
Through the combination of market data analytics and experience, providing and executing lead generation, sales effectiveness program, and turnaround growth strategies, Growth Orbit can help clients access, share, and reimagine their overall growth strategy.
Our Core Market Targeting Strategies
HOW WE DO IT
TARGET MARKET RESEARCH
Research, assess, and define your total addressable market, its potential, and determine which segments offer the best opportunities.
TARGET MARKET ANALYSIS
In-depth analysis of the total addressable market provides actionable insights into segments, trends, and prioritization strategies.
MARKET SIZING & SEGMENTATION
Building on your TAM analysis, we segment your market by demographic and firmographic measures for testing and prioritization.
TARGET / CONTACT LIST CREATION
We will build or acquire the company and contact data needed for successful targeting.
CLEAN & NORMALIZE DATA
Data can be messy – we will clean it up and normalize it before outreach begins.
We will enrich the data with the right contacts and attributes.
DATA MERGING (CRM INTEGRATION)
Your new data is loaded back into your CRM to enable more focused and productive sales and marketing efforts.
MARKET DATA PERFORMANCE ANALYSIS
We analyze the performance of every market segment and provide recommendations for future sales and marketing efforts.
Why Defining Your Total Addressable Market Matters
Focused and Efficient Outreach
If you don’t clearly define your Total Addressable Market (TAM), you’ll waste valuable time calling on companies and contacts that will never buy your product or service, because they don’t have the right characteristics.
Clearly defining your TAM gives you the foundation on which to build a successful B2B lead generation program that will ensure you meet your sales and revenue goals.
In other words, find and focus on prospects who “fit.”
Why Does Target Market Segmenting Matter?
Prioritize your Sales Efforts on the Best Opportunities
Data segmentation is essential to identifying and managing a lead generation program’s success and to ensure you are focused on the segments that represent your best opportunities. When developing segmentation strategies, you should consider the following characteristics when prioritizing individual segments:
Revenue potential – Accounts most likely to spend more, either through the initial purchase or over time.
Selling resources required – Accounts that won’t cost as much to close.
Buying journey stage – Opportunities further along in the buyer’s journey and most likely to close faster.
Firmographic fit – Accounts with the right demographics and geographics, including characteristics like number of employees, number of clients, industry, technologies used, organization type, and location.
Engagement – Accounts that have already engaged with your company (webinar attendees, tradeshow booth visitors).
Intent – Accounts that are consuming third-party content online related to your products or services.
Engagement history – Nurture the accounts where there has been previous engagement.
Segment level performance will be a key component of overall program performance over time, but in the short term, it will help you quickly identify those characteristics of your market that you want to prioritize first.
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Why sales development programs fail. #4 Lead follow up.
Many sales leaders struggle to answer why sales development programs fail. Lead follow up is a common shortcoming. Sales teams are more effective when they put forth the effort to follow up on qualified sales leads provided by business development reps.
Why sales development programs fail. #3 No sales structure.
Many sales leaders struggle to answer why sales development programs fail. You may have great salespeople. They may always hit their numbers. But, without a structured sales process, you run the risk of watching good leads go to waste.
Why sales development programs fail. #2 Bad prospecting data.
Many sales leaders struggle to answer why sales development programs fail. Bad market data will kill a program before it has a chance to succeed. Don’t let that be the reason for failure. Follow this advice to develop good market data.