Market Sizing, Market Assessment, Questions to Ask
Market Size Planning Template
Is your target market large enough to support the financial requirements for the business?
It’s a huge mistake to calculate 1%, or 1/10th of a percent, of a market and declare that to be the organizations revenue. Every business must calculate the addressable market to understand the total market opportunity. Next, the addressable market needs to be reduced to determine the served market. Then, the target market can be identified and finally the beach head strategy that the organization will rally it’s resources around to penetrate and dominate the market can be established.
Download this FREE PowerPoint template to size your market and focus your valuable resources.
The download includes the six PowerPoint slides needed to size your market in a compelling graphical format:
- Document the US Market Opportunity
- Establish the Addressable, Served and Target Markets
- Size the Opportunity for Revenue
- Apply the Technology Adoption Curve
- Define Revenue Goals by Market Segment
- Project Revenue Based on Market Penetration
Marketing Assessment Template
Download this FREE Marketing Assessment Template to build a pragmatic plan to improve the Marketing organizations ability to execute.
In order for Marketing to continue to provide value to the organization, it is imperative for the organization to constantly improve people, process, systems, execution, strategy and vision. A logical and fundamentally solid approach to improvement requires determining where you are and where you want to be. The crux of this approach is dependent upon defining point A and the steps and that is where a Marketing Assessment will add value.
There are 5 stages or states that describe how reliable and frequently the actions, practices and processes employed generate the required outcomes–at a minimum, the model provides a common language, framework and ranking process. The five levels, or rankings, of the model include:
- Level 1 – Ad hoc
- Level 2 – Repeatable
- Level 3 – Defined
- Level 4 – Managed
- Level 5 – Optimized
Each area identified (row in the spreadsheet), should be evaluated against six criteria:
- Current State: level or ranking that best describes the state of this attribute today.
- Desired State: level or ranking that best describes where you would like to be.
- Gap: the delta between the Desired State and Current State.
- Dependencies; what is required, at a high level, to move from Current to Desired State.
- Investment: what resources (people, time, money) need to be applied to facilitate the movement.
Downloading this FREE Market Assessment Template and completing the matrix produces a spider diagram that is useful in summarizing the current state, desired state and investment required for moving from point A to point B.
Questions to Ask When Building Go-to-Market Plans
Marketing needs to learn form sales–qualify before offering a solution.
Before jumping into a project, take 10-20% of the time it will take to complete the project to ask questions about what is being asked and why.
Often times, the initial question is not the root problem and solving a request expeditiously only becomes an iterative process by the requestor until they figure out what they really need–sometimes this ends up in a fruitless exercise.
The FREE download, Questions to Ask When Building GTM Plans, is organized around 10 key focus areas:
- Marketing Strategy
- Is Value Being Delivered
- Product Marketing
- Is There a Process to
- Demand Creation
- Maximizing Investment
- Is the Field Enabled
- Social Media
- Value Proposition
Download an review the list of questions so that you are prepared to ask relevant, meaningful questions the next time a topic or request comes up for discussion. Asking good questions will help you navigate to the core of a request so that resources can be efficiently and effectively allocated to provide the desired results without the trial an error approach.