Strategy: Addressable Market Analysis
What is Addressable Market Analysis?
Addressable market analysis is a methodical exercise starting at the top: with any and all companies with a commercial vehicle. This is 35 million vehicles in operation in the U.S.
From there, collaboratively working with your team, we remove segments unrealistic in the near-term due to product relevance or market need. The result is a final, targetable market that will guide strategy, investments, resources, forecasts and provide a blueprint for scalable success.
What does marketing look like without Addressable Market Analysis?
Most marketers and executives start with an expectation that there is an infinite market for their product or service. But the reality is, the market is very finite for a number of reasons:
- Your offering is not relevant for many
- Limited data to identify targets
- Incorrect forecasts and assumptions
Without clarity of who you are going after, nearly all decisions are impacted.
What are the consequences for sales and marketing teams?
Many winnable markets are underpenetrated or underserved. There is a considerable gap in identifying net new prospects.
Overspending on data licensing, resulting in overspending on all things related to data like databases, Salesforce licenses, salespeople and more.
Lack of visibility hinders forward planning, on a quarterly/annual basis. Marketing teams also are unaware of the market trends that they could capitalize on.
Lacking strategic clarity is the proverbial “cart before the horse” situation.
How does ProsperFleet deliver trustworthy Addressable Market Analysis?
We start with ProsperFleet data as a source to provide complete and accurate reflection of the market. There are many fleet data providers, but only ProsperFleet is the most comprehensive. Then we:
- Build a crystal clear “waterfall” to know where the fallouts occur, and propose how to address them.
- Generate data-driven insights to prioritize markets with highest potential and likelihood for success.
This is not a one and done exercise. We recommend to review and calibrate this intelligence at least annually. The frequency and depth of the review depends on changes in market, product offerings and performance of forecasted vs actual.
Addressable Market Analysis
Without clarity of who you are going after, nearly all decisions are impacted.
Segmentation
ProsperFleet’s segmentation is not one size fits all. You get a unique footprint customized to the way you go to market.
Customer Clone Modeling
Predictive modeling and AI to deliver prospects like your best customers.
Strategy Case Study: New Fleet Market Entry
Thorough 360 evaluation of sales process, technology, and data revealed key challenges on multiple fronts. The risks and investments to enter a new market were far greater than expected.
