Who are your good customers, and where can you find more of them?

What is the real potential of the market in which your company operates? And where exactly can you find the most important added value? Only if you have a 'value map' (read treasure map) of the market, you will know exactly what to do next.

Companies know who their customers are. But do companies know who are not their customers? In other words, what potential is currently not being fulfilled? How many of the companies that request a quote for a particular product or service, request a quote from us? Entrepreneurs usually have an idea of the market they are working in, but that view is quite limited and not concrete enough to base founded decisions on.

An accurate and detailed picture of the market not only makes a lot of decisions much easier, but it also makes them more effective.

Paquay & Associates help you to obtain a sharper picture of your market. We try to make this picture as concrete and tangible as possible. A market file contains detailed information, for example: in the province of Hainaut, there are 45 companies that meet a certain profile. On average they issue a request for tenders for two projects a year, with an average purchase value of 'Y' Euro. This information is then accumulated as much as possible at postcode level.

A market file is not only the basis for highly targeted sales and marketing campaigns, it is also an excellent benchmark for estimating how efficient the marketing and sales process is progressing. Perhaps 18 sales agreements per month may seem a very good result, if in recent years the average was only 10. If the market file shows that every month three competitors acquire approximately 500 similar signed contracts, then 18 is a very meagre result.

A company can do the following with this tangible insight:

  • Determine an even more accurate market share: share of contact vs share of wallet

  • Specify the gap: how large is the opportunity? What should I protect? Turnover in EUR and margin or value generation in EUR

  • Specify clearer goals

  • Make clearer strategic choices

  • Decide which marketing activities are needed

  • Decide what kind of sales organization I need

 

Our approach

This process is not only set up together with the owner or CEO, but it also involves the employees of certain services, such as sales and marketing.

In an initial phase, we learn to use a common set of concepts:

  • What is the potential of a market?

  • Where are the segments with the highest return?

  • What is a responsible level of investment in order to develop a profitable market?

  • What segments are there?

  • What are the main channels?

  • What types of market files are there?

With this set of concepts we can set to work and try to make an initial, rough outline of the market. At this stage participants must learn to accept that the picture is still vague, because information is still missing. Gradually this picture will become more and more refined. In fact, refining is a continuous process. The most high-achieving among our customers update their market files annually.