Phase 1
Identify Target Markets
1.1
Project Kick-off Re-confirm goals and objectives
Incorporate your feedback & materials
Clear definition of your product and service capabilities
Review Qi3’s internal Knowledge Bank and identify all relevant information
1.2
Broad Evaluation to Rank Potential Target Markets Conduct 3 telephone interviews per market to identify drivers for adoption
barriers to entry
market needs
competitor activity
product requirements
Desk and internet market research to characterise markets
Gather further inputs, including joint brainstorming
Understand how or if your value propositions need to be tailored for each market
Rank target markets in priority order
1.3
Review Findings and Agree Next Stage Review meeting Discuss findings
Agree target markets
Agree action plan for Phase 2
Phase 2
Deep Dive Research & Target Market Prioritisation
2.1
Deep Dive Market Research for each Target Market Research market sizes & growth rates
Test market opportunity in detail by conducting telephone interviews with 10 potential sales prospects
Identify drivers for widespread market adoption
Understand buyer ‘hot buttons’ and objections
Analyse competitive position
Assess differentiation
Fine tune list of early adopter sales targets
Assess channel sales options
2.2
Synthesis Synthesise market findings and data
Articulate your value proposition for each vertical market
Review sales prospects’ feedback from telephone interviews
2.3
Review Findings and Agree Next Phase Review meeting to discuss findings
Discuss early sales prospects and action plan for each
Agree order of vertical markets entry
Agree action plan for Phase 2
Phase 3
Driving Market Entry and Sales Growth (Work Package per Vertical Market)
3.1
Develop ‘Skeleton’ Go-to-Market and Sales Plans Adapt Product Specifications for target market (where appropriate)
Agree market-specific value proposition
Tailor marketing materials (where appropriate)
3.2
Deepen Target Market Engagement Develop list of additional sales prospects to contact
Use market research as a covert selling tool
Identify and contact market opinion leaders
Identify potential beta test sites
Build scalable sales plan
3.3
Accelerate Sales Engagement Qualify existing sales prospects
Identify additional sales prospects
Help you close your first sales prospects
3.3
Review Experience and Firm-up Go-to-Market & Sales Plans Review lessons learned and sales experience
Fill in knowledge gaps where necessary with additional market research
Update Go-to-Market Plan, Sales Plan and marketing materials
3.4
Embedding the Target Market Plan in your organisation Brief management on go to market execution plan and sales plan
Drive sales activities
Define channel partner programme
Help with relevant sales training
Hand-over to your staff
The work package can be repeated to evaluate and penetrate further vertical markets.