Last month, HG Insights launched its Market Intelligence service that supports technographic market research. The analytics service supports sales, marketing, and strategy teams at B2B vendors, letting them develop account plans, segment markets, evaluate market entry, and size opportunities.
Product and strategy teams can analyze market trends, size market opportunities, and assess competitors’ strengths and weaknesses. They can also use it to identify the Service Obtainable Market (SOM), which is the market segment size a firm can capture with its solution. As HG Insights notes in the following graphic, the SOM is a narrower definition of market potential than TAM (Total Addressable Market) and SAM (Serviceable Addressable Market).
For example, many entrenched vendors in the North American Sales Intelligence space have robust solutions and established market share. Looking to displace LinkedIn Sales Navigator, Zoominfo, D&B Hoovers, and InsideView in the most mature Sales Intelligence segment would be difficult. However, a SOM analysis would indicate that the UK is the second most mature market and that continental Europe is beginning to take off. Thus, a product manager might focus on European content and multi-lingual capabilities (e.g., UX, event tagging, free form text translation). Likewise, they might select niche markets such as financial services with strong compliance requirements or choose to develop functionally differentiated services (e.g., GrowFlare focused on psychographics and ICPs before being acquired by Terminus late last year).
“Without a SOM containing detailed information about competitor product installations, you’d have no way of knowing this and might decide to go to market in a region saturated by competition you have very little likelihood of displacing. Alternatively, what if you were looking at different regions or countries and wanted to identify which situations represented the best growth opportunities for your business. Again, knowing the estimated market size in revenue isn’t going to help you much. But what if you knew what companies had budgeted to spend on your category of product by region, entity, or industry?”HG Insights VP of Global Sales Scott Smyth
“Business leaders need more than high-level market reports to make successful go-to-market decisions,” said HG Insights EVP of Product Rana Kanaan. “With our actionable market intelligence offering, we are giving our customers the ability to customize their market views by the attributes they care about most and operationalize intelligence for their revenue teams. This allows them to allocate resources more effectively, prioritize the right product initiatives, and give their sales and marketing teams the account details they need to pursue the best opportunities.”
Scott Smyth is offering a master class on TAM/SAM/SOM on February 24th. Here is the information: