Let's say you've got a product or solution that has only been sold to existing clients as you expand your account with them. Now you want to take the solution directly to market and position it to drive initial customer acquisition.
Only problem is that this solution has limited market awareness and no established target market.
So, how do you know who to go after? Here's one way to go about it.
Start with problem/solution scenarios that produce business value. Make a list and then prioritize them based on the highest visible impact. In other words, go for the biggest bang from your customer's perspective. If it impacts measurable dollar metrics, all the better. Regardless, you need to determine how to quantify outcomes in a way that has value from the target market's perspective.
Talk to the clients you've upsold the solution to and determine what problem they solved. But reach farther and learn why they chose to solve the problem and what their initial goals were. Then find out what outcomes they've actually achieved. This will help you begin to formulate your list.
Additionally, take a look at your solution closely and identify business values that may not have been defined. Thinking about how problem/solution scenarios impact business outcomes can often provide new ways of looking at your products and solutions. How we intended our clients to use them may not always be providing the biggest value.
And, things change fast. What may not have been evident in the past might present an entirely different value opportunity than you've previously considered.
Ask yourself if the scenario list can be focused even tighter by applying them to specific industries. Do you have a presence in any of them you can leverage?
Once you have your list, determine who your buyer is. And please note that it's not always what seems apparent. The decision maker for a technology solution may not be in an IT role, for example.
Then look at who might influence the status quo in regards to correcting a problem, meeting a challenge or taking advantage of an opportunity related to your selected scenario. Don't disregard the influencers as they can be key contributors to the purchase decision.
Make sure you define the problem/solution scenarios for each type of influencer. Every person involved in the decision will have a different stake in the ground in relation to project outcomes. Those various perspectives should be addressed to increase relevance.
This is a simplified approach, but it will produce some viable parameters for a definable target market...and a lot of things to think about. Remember to think iterative. Start small and build momentum.