Winning your markets requires more than a top-down approach to your Total Addressable Market (TAM) or Serviceable Addressable Market (SAM). To win big, HG Insights’ most successful customers identify their Serviceable Obtainable Market (SOM).
Drilling down to their SOM enables technology vendors to know which markets or industries represent the best growth opportunities, which markets are saturated by competitors, and what accounts have the highest potential to become customers.
In our latest master class, we defined and explained the differences between a TAM, SAM and SOM, and stepped our audience through the process of creating their own detailed SOM. We also showed how to elevate the performance of entire organizations by helping:
- Strategy leaders find their best opportunities and allocate resources more efficiently.
- Product leaders confirm demand for their product and size their true Go-To-Market (GTM) opportunity.
- Marketing leaders improve their targeting and increase their conversion rates.
- Sales leaders increase the overall efficiency of their revenue pipeline.
Watch Master Class Now
Watch Master Class now or review the highlights below.
Master Class Highlights
How to Make Informed GTM Decisions
Having more granular information on the accounts that comprise your market can help your strategy leaders plan better so they know what markets to enter or exit, and how to allocate budgets and resources. Extra granularity can also help product teams optimize their products initiatives, and sales teams create more optimal sales territories. Additionally, having detailed account intelligence allows revenue teams to execute on the data to increase lead conversion and closing ratios.
The Evolution of Market Analysis
TAM analysis evolved into SAM analysis to help provide more detail on market opportunity but it’s no longer good enough. A SOM is the evolution of a SAM providing greater granularity so companies can size their markets based on their Ideal Customer Profile (ICP). Companies that size their market based on their ICP have a 68% higher win rate.
A SOM Sizes Your Market to Match Your Ideal Customer
In this example, we take a $98.1Bn worldwide ERP market and demonstrate how a SOM can help filter this enormous market into the 285 accounts that are most likely to buy your specific solution, leading to shorter sales cycles, higher close rates, and increased pipeline and revenue.
Real World Market Intelligence Scenarios
We reveal how to extract your TAM, SAM, and SOM for two different markets – ERP and Security. In the process, we showed how you can view your market globally or individually by account so that you can see what markets, geographies or industries make sense for your company to pursue. In this live, interactive demonstration we also help our audience answer market share, competitor share and trend questions. Additionally, we drill down to the detailed account level to show revenue teams how they can operationalize the data for more relevant and effective outreach.