2000 – 2014 ©CXO Advisory Group 
FINDING YOUR 
TARGET MARKET 
Stephen N. Davis 
“Partnering With Clients to Drive 
Sustain...
Start-ups Fail 
2000 – 2014 ©CXO Advisory Group
Start-ups Fail 
2000 – 2014 ©CXO Advisory Group
That is Why Start-ups Fail 
2000 - – 2013 2014 ©©CXO CXO Advisory Advisory Group 
Group
Start-ups Wait Too Late 
to Find Customers 
2000 – 2014 ©CXO Advisory Group
Focus on Customers 
& Markets From Day 1 
2000 – 2014 ©CXO Advisory Group
Get Out and Talk to 
Potential Customers 
2000 – 2014 ©CXO Advisory Group
“If I had asked people 
what they wanted, they 
would have said faster 
horses.” Henry Ford 
2000 – 2014 ©CXO Advisory Gro...
Who Should You 
2000 – 2014 ©CXO Advisory Group 
Sell To?
You are NOT 
The Customer 
2000 – 2014 ©CXO Advisory Group
“The most important strategic decision 
is targeting—nail this and everything 
else falls into place.” 
2000 – 2014 ©CXO A...
If You Get on the 
WRONG Train 
Every Stop is WRONG 
2000 – 2014 ©CXO Advisory Group
Don’t Focus on ALL 
Potential Buyers 
2000 – 2014 ©CXO Advisory Group
Do You Believe Market 
Size is Best Criteria to 
Target a Market? 
2000 – 2014 ©CXO Advisory Group
Market Size Isn't the 
Only Path to Success 
2000 – 2014 ©CXO Advisory Group
Evaluate Attractiveness 
of Each Segment 
2000 – 2014 ©CXO Advisory Group
Segment Size & 
2000 – 2014 ©CXO Advisory Group 
Growth
What are the Threats? 
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
Who are Your 
Competitors?
Ease of Market Entry? 
2000 – 2014 ©CXO Advisory Group
What are Your Strengths 
& Weaknesses? 
2000 – 2014 ©CXO Advisory Group
What Resources 
Do You Need? 
2000 – 2014 ©CXO Advisory Group
Customer Acquisition 
2000 – 2014 ©CXO Advisory Group 
Costs
Are There Government 
Regulatory Issues? 
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
Establish a 
BEACHHEAD
Find Passionate 
2000 – 2014 ©CXO Advisory Group 
Customers
Brand Ambassadors 
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
Build the 
Buyer’s Profile
People Don’t Strive for 
2000 – 2014 ©CXO Advisory Group 
the Unknown
People HATE Change 
2000 – 2014 ©CXO Advisory Group
They Protect 
the Status Quo 
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
What’s The 
Buyer’s Journey?
Customer Demographics? 
2000 – 2014 ©CXO Advisory Group
What is Their PAIN? 
2000 – 2014 ©CXO Advisory Group
What do They FEAR? 
2000 – 2014 ©CXO Advisory Group
What Can They GAIN? 
2000 – 2014 ©CXO Advisory Group
What Do They 
Care About? 
Consumer Business 
2000 – 2014 ©CXO Advisory Group 
Health 
Value 
Status 
Environmental 
Famil...
How Much Do They 
Value Various Features? 
2000 – 2014 ©CXO Advisory Group
How Do They Value Your 
Competitive Differentiation? 
2000 – 2014 ©CXO Advisory Group
Where Do You 
Find Them? 
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
Who or What 
Influences Them?
How Do They Want to 
Engage and Buy? 
2000 – 2014 ©CXO Advisory Group
Who is Involved in the 
Purchase Decision? 
2000 – 2014 ©CXO Advisory Group
What Are the Sales 
Trigger Events? 
2000 – 2014 ©CXO Advisory Group
What Are Key 
Psychological Price Points 
2000 – 2014 ©CXO Advisory Group
What is Your MVP? 
2000 – 2014 ©CXO Advisory Group
Have You Defined 
A Sales Cycle? 
2000 – 2014 ©CXO Advisory Group
Buyer’s Cycle 
2000 – 2014 ©CXO Advisory Group 
is the Key
2000 – 2014 ©CXO Advisory Group 
Fine Tune
2000 – 2014 ©CXO Advisory Group
2000 – 2014 ©CXO Advisory Group
Driving Profitable Growth 
2000 - 2012 © CXO Advisory Group
2000 – 2014 ©CXO Advisory Group 
Driving 
Profitable Growth 
We help companies optimize business 
development and marketin...
CXO Advisory Group 
 CXO Advisory Group is a strategic operations advisory 
and management firm comprised of proven C-lev...
How Can We Help You? 
Business Strategy Services 
• Audit business practices and organization 
• Evaluate product and pric...
Sales Channel Management 
• Review and revise sales channel strategies 
• Channel partner identification, prospecting and ...
Venture Advisory Services 
• Fine tune operations, business strategy and market entry 
• Assist with due diligence 
• Stra...
Contact Information: 
Stephen Davis 
Interim COO/VP Sales & Marketing | 
Business Consultant | Sales Channel and 
Business...
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Finding Your Target Market - MassChallenge - 07122014

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Presentation made by Stephen Davis on July 21, 2014 at the MassChallenge Accelerator in Boston

Many start-ups have great ideas but struggle when it comes time to bring the product to market and have difficulty in selecting a market to focus on. Defining your optimal target market and identifying the ideal prospect will help you streamline the effectiveness of your marketing, shorten the sales cycle and close more business.
In this program we’ll cover:

• Comparing mass marketing to target marketing
• How segmentation can improve your market position
• Practical ideas to segment and prioritize market opportunities
• Developing detailed customer profiles that will improve sales
• Learn the stages of the customer buying process
• How incorporate target marketing into your overall strategy

Stephen N. Davis, Principal and Founder of The CXO Advisory Group (http://www.cxoadvisorygroup.com/about-us/Stephen-Davis.htm), advises businesses on how to optimize and improve operations, accelerate sales and profits, and seize the most attractive growth opportunities. Steve has worked with companies in North America, Europe and Asia to assist them in establishing US market operations, strategic alliances, joint ventures, business development and sales management. He has also assisted clients with due diligence and preparation for venture financing.

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Finding Your Target Market - MassChallenge - 07122014

  1. 1. 2000 – 2014 ©CXO Advisory Group FINDING YOUR TARGET MARKET Stephen N. Davis “Partnering With Clients to Drive Sustainable Profitable Growth”
  2. 2. Start-ups Fail 2000 – 2014 ©CXO Advisory Group
  3. 3. Start-ups Fail 2000 – 2014 ©CXO Advisory Group
  4. 4. That is Why Start-ups Fail 2000 - – 2013 2014 ©©CXO CXO Advisory Advisory Group Group
  5. 5. Start-ups Wait Too Late to Find Customers 2000 – 2014 ©CXO Advisory Group
  6. 6. Focus on Customers & Markets From Day 1 2000 – 2014 ©CXO Advisory Group
  7. 7. Get Out and Talk to Potential Customers 2000 – 2014 ©CXO Advisory Group
  8. 8. “If I had asked people what they wanted, they would have said faster horses.” Henry Ford 2000 – 2014 ©CXO Advisory Group
  9. 9. Who Should You 2000 – 2014 ©CXO Advisory Group Sell To?
  10. 10. You are NOT The Customer 2000 – 2014 ©CXO Advisory Group
  11. 11. “The most important strategic decision is targeting—nail this and everything else falls into place.” 2000 – 2014 ©CXO Advisory Group Phil Kotler, Northwestern University
  12. 12. If You Get on the WRONG Train Every Stop is WRONG 2000 – 2014 ©CXO Advisory Group
  13. 13. Don’t Focus on ALL Potential Buyers 2000 – 2014 ©CXO Advisory Group
  14. 14. Do You Believe Market Size is Best Criteria to Target a Market? 2000 – 2014 ©CXO Advisory Group
  15. 15. Market Size Isn't the Only Path to Success 2000 – 2014 ©CXO Advisory Group
  16. 16. Evaluate Attractiveness of Each Segment 2000 – 2014 ©CXO Advisory Group
  17. 17. Segment Size & 2000 – 2014 ©CXO Advisory Group Growth
  18. 18. What are the Threats? 2000 – 2014 ©CXO Advisory Group
  19. 19. 2000 – 2014 ©CXO Advisory Group Who are Your Competitors?
  20. 20. Ease of Market Entry? 2000 – 2014 ©CXO Advisory Group
  21. 21. What are Your Strengths & Weaknesses? 2000 – 2014 ©CXO Advisory Group
  22. 22. What Resources Do You Need? 2000 – 2014 ©CXO Advisory Group
  23. 23. Customer Acquisition 2000 – 2014 ©CXO Advisory Group Costs
  24. 24. Are There Government Regulatory Issues? 2000 – 2014 ©CXO Advisory Group
  25. 25. 2000 – 2014 ©CXO Advisory Group Establish a BEACHHEAD
  26. 26. Find Passionate 2000 – 2014 ©CXO Advisory Group Customers
  27. 27. Brand Ambassadors 2000 – 2014 ©CXO Advisory Group
  28. 28. 2000 – 2014 ©CXO Advisory Group
  29. 29. 2000 – 2014 ©CXO Advisory Group Build the Buyer’s Profile
  30. 30. People Don’t Strive for 2000 – 2014 ©CXO Advisory Group the Unknown
  31. 31. People HATE Change 2000 – 2014 ©CXO Advisory Group
  32. 32. They Protect the Status Quo 2000 – 2014 ©CXO Advisory Group
  33. 33. 2000 – 2014 ©CXO Advisory Group What’s The Buyer’s Journey?
  34. 34. Customer Demographics? 2000 – 2014 ©CXO Advisory Group
  35. 35. What is Their PAIN? 2000 – 2014 ©CXO Advisory Group
  36. 36. What do They FEAR? 2000 – 2014 ©CXO Advisory Group
  37. 37. What Can They GAIN? 2000 – 2014 ©CXO Advisory Group
  38. 38. What Do They Care About? Consumer Business 2000 – 2014 ©CXO Advisory Group Health Value Status Environmental Family Finance Convenience/Time Saver Usability Lower Risk Saving Money Productivity Customization Customer Engagement Market Penetration Competitive Advantage Increased Sales
  39. 39. How Much Do They Value Various Features? 2000 – 2014 ©CXO Advisory Group
  40. 40. How Do They Value Your Competitive Differentiation? 2000 – 2014 ©CXO Advisory Group
  41. 41. Where Do You Find Them? 2000 – 2014 ©CXO Advisory Group
  42. 42. 2000 – 2014 ©CXO Advisory Group Who or What Influences Them?
  43. 43. How Do They Want to Engage and Buy? 2000 – 2014 ©CXO Advisory Group
  44. 44. Who is Involved in the Purchase Decision? 2000 – 2014 ©CXO Advisory Group
  45. 45. What Are the Sales Trigger Events? 2000 – 2014 ©CXO Advisory Group
  46. 46. What Are Key Psychological Price Points 2000 – 2014 ©CXO Advisory Group
  47. 47. What is Your MVP? 2000 – 2014 ©CXO Advisory Group
  48. 48. Have You Defined A Sales Cycle? 2000 – 2014 ©CXO Advisory Group
  49. 49. Buyer’s Cycle 2000 – 2014 ©CXO Advisory Group is the Key
  50. 50. 2000 – 2014 ©CXO Advisory Group Fine Tune
  51. 51. 2000 – 2014 ©CXO Advisory Group
  52. 52. 2000 – 2014 ©CXO Advisory Group
  53. 53. Driving Profitable Growth 2000 - 2012 © CXO Advisory Group
  54. 54. 2000 – 2014 ©CXO Advisory Group Driving Profitable Growth We help companies optimize business development and marketing; accelerate sales; and seize the most attractive growth opportunities.
  55. 55. CXO Advisory Group  CXO Advisory Group is a strategic operations advisory and management firm comprised of proven C-level executives with both breadth and depth of experience.  CXO Advisory Group Team members have achieved success in positions ranging from: President/CEO to COO, and VPs of Sales, Marketing, Corporate Development and Human Resources.  Has proven success in business development and in building US sales and distribution channels 2000 – 2014 ©CXO Advisory Group
  56. 56. How Can We Help You? Business Strategy Services • Audit business practices and organization • Evaluate product and pricing strategies • Evaluate effectiveness of sales channel • Assess effectiveness of existing sales and marketing programs Market Entry Program • Analyze competitive landscape • Market launch strategy and plan • Channel strategy and programs • Establish sales channels • Generate sales and manage relationships • Identify and develop strategic partnerships 2000 – 2014 ©CXO Advisory Group
  57. 57. Sales Channel Management • Review and revise sales channel strategies • Channel partner identification, prospecting and recruitment • Eliminate channel conflict • Channel contract development and negotiation Interim Management Resources • Interim CEO, COO, CMO, CSO • Interim VP of Sales and Marketing • Consultant on staff • Launch team coaches 2000 – 2014 ©CXO Advisory Group
  58. 58. Venture Advisory Services • Fine tune operations, business strategy and market entry • Assist with due diligence • Strategic business assessment of portfolio companies 2000 – 2014 ©CXO Advisory Group
  59. 59. Contact Information: Stephen Davis Interim COO/VP Sales & Marketing | Business Consultant | Sales Channel and Business Development Expert | Author & Speaker “Partnering With Clients to Drive Sustainable Profitable Growth” Phone: (508) 528-7571 Email: sdavis@cxoadvisorygroup.com Website: www.cxoadvisorygroup.com Linkedin: www.linkedin.com/in/stephendavis Twitter: twitter.com/stephendaviscxo

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