TekMark’s Strategic New Market Penetrator program is an effective and proven program that quickly evaluates a potential new market opportunity and as justified, initiates market penetration. High visibility is created, interest from key decision makers is generated and, as applicable, new sales opportunities are uncovered.
Although each program is customized based on client needs, market dynamics and overall program objectives, our Strategic New Market Penetrator programs typically include the following;
- Initial macro quantitative research that characterizes a specific market segment including estimation of market size range, forecast, prospects for growth, major suppliers, technology leaders, among other technical and business dynamics. This enables more informed decision making on if/how to target this potential market for near term sales opportunities and long term strategic growth.
- Development of a prospect database including target companies, key decision makers and influencers (system designers, CTOs, engineering managers, product managers, etc), and key data such as company size, etc. to assist with prioritizing target accounts. Our databases are not purchased nor filtered from a master database. All our databases are developed “fresh” from current industry sources thereby enhancing quality and maximizing effectiveness.
- Based on market potential – conduct a focused, pro-active marketing campaign that introduces the market to the clients’ technical capabilities (services and products), performance attributes and other salient benefits. Our marketing campaigns are typically conducted in a “blind” fashion where our client’s name is not immediately divulged. This pique’s the readers curiosity and further encourages more contacts to respond back to us looking for additional information providing better opportunities for us to confirm their level of interest and obtain critical market information.
- In tandem, conduct a highly focused Linked In reach out campaign to a subset of the overall target database to directly correspond with industry leaders on a more personal level, thereby enhancing our ability to discuss with more industry decision makers and obtaining critical application and market info along with assessment of near term opportunities.
- Monitor contact’s level of interest from the campaign, and along with other variables, establish a prioritized list of prospects to initiate further contact, confirm overall interest and application requirements, cultivate greater interest, and identify opportunities for potential near term sales and long term strategic growth.
- In parallel, conduct qualitative market research through contact correspondence and phone interviews to obtain where possible information on key dynamics including; existence/history of use of similar products/technologies (or competing technologies), performance requirements, cost and adequacy of any current solution(s) and opportunity for improvement or next generation design that could be an insertion point for the clients’ technology, product or service.
- All information provided in an Excel database and PowerPoint executive level presentations reviewed during interim and final program meetings.
The broad based macro-market info enables more informed decision making on levels of investment, near term actions and overall strategy to best penetrate the market. Target account information provides a list of specific contacts that have expressed varying levels of interest in your capabilities and technologies, and, as applicable, prioritized for near-term sales opportunities. Qualitative elements obtained from correspondance and conversations with key industry contacts provide valuable information to develop future sales and marketing strategies and enhance your overall opportunity for growth in this market.
This type of program is very flexible and can be adjusted based on your specific requirements, budget, or any market “surprises” found during the program’s work. This program can be conducted at a variety of levels (both breadth and depth – i.e., cost), and from our experience, an effective program that will provide you with a solid opportunity to develop new sales opportunities and produce necessary information to enable improved strategic decision making when targeting a new market(s) costs approximately $20-24k and typically takes ~ 10-12 weeks to complete pending program specifics.