Case Study
Market EntryIdentifying the best market niche opportunities is critical for businesses to stand out in competitive landscapes and effectively meet the unique needs of specific customer segments.
Market Entry
Identifying Market Entry Opportunities
By identifying specific niche opportunities for growth, businesses can tailor their offerings, messaging, and customer experiences to resonate deeply with a targeted audience, building stronger connections and loyalty. A strategic alignment of niche opportunities with the right channels ensures that marketing efforts are both efficient and impactful, enabling businesses to maximize ROI, attract ideal customers, and foster sustainable growth.
MARKET ENTRY
Identifying Targeted Market Niches for Entry into New Markets
Challenge
An international company seeking to enter the US market needed to define and quantify the potential of various B2B2C sub-segments in its primary target industry in order to prioritize resources. These sub-segments served different end-user customers, had different buying motivations, and needed varying levels of marketing support. The company needed to quantify market potential, as well as understand the personas of both its B2B customers and the ultimate end-user serviced by each B2B segment.
Solution
Extensive secondary research was conducted to determine the serviceable obtainable market for four key B2B sub-segments. As part of this research effort, individual businesses were identified as prospective clients. Customer personas were developed for each of these four sub-segments to help understand buying motivations and identify the most appropriate messaging and best channels for reaching these customers. Equally important was understanding how the end consumer made purchasing decisions and how they selected the business in which to purchase the service. Customer personas based on age and income levels were developed for significant end-user groups.
THE RESULTS
Research findings allowed the company to evaluate and prioritize the B2B market segments that promised the most opportunity for entry into the US. The company focused on specific geographic areas for market entry where a concentration of the most profitable B2B customers were located. The company launched B2B marketing campaigns including email, educational webinars and direct contact by company sales reps in these areas. These efforts were supported by marketing campaigns that targeted end-user groups through the most appropriate marketing channels including social media campaigns and influencer marketing.