Customer Profile
Early Market
The target customer profile considers specific customer segments that require similar offerings and have similar buying processes. This will drive a sales process that will add value and will best serve this customer segment which will in turn drive a go-to-market model and sales-force structure and size.
An "early market" is one that is defined by buyers early in the product adoption cycle.It is normally 16% of the total market.
These buyers are willing to take risks for the reward that a new product will bring and willing to forego the usual need for exacting references.
They are willing also to work with partially developed products or products that though fully developed do not provide the full solution required by the customer. They are therefore called partial products and ones that provide the whole solution are called whole products.There are two market sub-segments within the early market
Customer Profile
Innovator
Customer Profile
Early Adopter
Customer Profile
Early Market Sales Team
For the Early Market, it is necessary to create a small top level direct sales team to work on opportunities. This sales force will work closely with senior management to ensure that that hurdles can successfully be overcome. The buying process may not be very formalised and there is an opportunity to manage the evaluation process by suggesting and then managing the process. Communicate technical differentiators via trade shows, seminars and direct advertising in technical journals. Opportunities need to be qualified well to ensure to ensure that resources do not become overstretched.
Build position in Innovator segment and then with careful targeting and effective communications the breakthrough accounts will enable domination of the Innovator segment. Then this can be used as base to enter Early Adopter segment. Buyers from the Early Adopter segment identify their next visionary product from the "techies" in the Innovator segment.
More details the relevant sections outlined in More Information.
Customer Profile
Early Market Hurdles
A sales force for this market is a small top level direct salesforce with tight control on the negotiations of any large deal. This recognises the hurdles that must be overcome: