Beating the competition and hitting or exceeding your growth numbers requires a thorough understanding of the market and your prospects within. You need to know:
- Is your core market big enough to deliver the numbers? If not, how do you expand the pie?
- How much of the market can you realistically expect to capture? What can you do to increase your share by accelerating adoption and beating competitors?
- Which of the expansion opportunities on the table should you pursue? What role should acquisitions play?
- Are there ways to change your sales, marketing, pricing and product plans that can accelerate growth?
Working exclusively with technology companies, Topline knows how difficult it is to answer these questions. Customer needs are always evolving, competitors are moving at lightning speed and technology advances create new opportunities and disrupt existing ones on a continual basis.
Because these questions are so difficult, many tech companies tend to make critical decisions about where to invest their growth dollars with incomplete answers, BUT this is exactly the reason why they shouldn’t, and working with Topline Strategy, they don’t have to.
Our Growth Strategy engagements deliver actionable recommendations for growth developed from fact-based answers to the difficult questions.
Topline’s Growth Strategy Approach
For each engagement, Topline leverages methodologies and techniques from across our practice to develop a project plan tailored to the client’s individual situation. Like all Topline engagements, our Growth Strategy projects are based on extensive primary research, leverage our senior consultancy model, and can be completed in a matter of weeks. <Hot link to “Our Approach”>
Analyses and deliverables that are frequently part of Growth Strategy projects include Segmentation, Market Sizing, Competitive Assessment and Opportunity Prioritization. We pull these deliverables together to create market-tested recommendations to reach your growth goals – what products, what markets, which segments, and which sales and marketing approaches.
Typical Growth Strategy Engagement Analyses and Deliverables
Segmentation & Targeting: One size does not fit all, and Topline fully believes that the most important strategic variable to understand targeting: One what dimensions do customers segment and which segment(s) should you target? Topline develops a unique segmentation scheme that includes how to identify segments, what each segment’s unique needs are, what their priorities are, how they budget and buy, etc.
Market sizing: We develop an objective assessment of market size in each segment using primary research via surveys and interviews. We also create projections for the annual available market based on adoption rates and churn rates. From our analysis you will know where the market is today, how fast customers are adopting new solutions, what are the drivers of growth and what are the barriers to adoption.
Competitive Assessment: Topline also develops a thorough understanding of the competitive landscape, the strengths and weaknesses of each competitor and players in related industries. We develop an assessment of which segment each competitor is strong in, and what their relative threat is by segment. We focus on developing a differentiated position via product marketing and sales relative to the key competitors.
Opportunity Prioritization: Driven by innovation, tech companies always have several new market or product concepts at various stages of development. Topline brings analytical rigor to determining which opportunities are the most promising by creating and quantifying objective decision criteria including market size, product investment required to succeed, level of competition, and customer interest level.