Emerging markets offer a precious opportunity to produce huge investment returns. A start-up that establishes a dominant position before the market matures, is very difficult to dislodge - even by larger, established players. For this reason, building market traction quickly is critical. Without it, failure is almost always the result.
A company has achieved market traction when its product is being predictably sold to buyers in the same market segment. The company knows the sales cycle and has established a pipeline of orders. This market segment then serves as the beachhead from which all subsequent market share will be won. There are six main milestones on the road to market traction.
The Market Traction Milestones are:
- Eureka – Turning the idea into the product
- Kaa Ching – Generating the first revenue
- Two Thumbs Up – Earning customer references
- Momentum – Building sales & selecting your segment
- Building Buzz – Raising awareness in your segment
- Market Traction – Segment preeminence
Each milestone has unique requirements for marketing and sales. When in alignment, marketing and sales work in concert as a powerful market traction engine. A young company's resources and time are limited, and all too easily can evaporate in the absence of an effective plan. An effective plan exploits the company's early entry position and maximizes return on investment.
accelerating market traction
Moreland Associates specializes in helping companies accelerate market traction. If your company is ready to get to market traction faster and with fewer resources, we're ready to work with you. Contact us to get started.