Learning your Digital Truth provides immense value in defining your target market with precision. We have found that most small to medium sized (under $1B in annual revenue) industrial and technology businesses don't fully understand the business growth opportunity presented by defining their target market with precision. This tends to be an insidious, invisible problem that dilutes all elements of the go-to-market strategy.
The good news is this is a solvable problem and we at THE DIGITAL TRUTH have found that our clients typically can achieve double-digit incremental growth. We are typically able to move from a vertically defined, application defined and/or geography defined definition of the target market to one that is detailed and attribute driven. We examine the business and hypothesize demographic, firmographic, operating, and behavioral attributes that we believe are well aligned with the companies' positioning, value proposition, and distinctive competencies. All businesses are unique so we identify the attributes that are unique to your business. We do this by utilizing in-depth interviews with the management team and key professionals within the business.
Then, we apply our " secret sauce " by doing our deep forensic analysis of these attributes to determine 2 key fundamentals:
1) Which of the attributes show significant inherent variability. Those that show high variability will be used to define your true target market with precision.
2) Which of these attributes demonstrate a significant variance between management perception and the digital truth. This provides the basis for strategic alignment and tactical execution changes.
In summary our proprietary process acknowledges that most companies are underperforming their growth expectations because their strategic and tactical decision making are based on limited digital truth data and primarily subjective, autobiographical perceptions. This applies to how companies think about and define their target markets. Our interviews and deep forensic analysis allow us to define the target market precisely and identify go-to-market strategy improvements that drive incremental revenue growth. If you would like to learn more, click here to schedule a free Digital Truth introductory consultation.
