Reprinted from TrustedPeer
Meet the Expert
Partner, The Chasm Group LLC
- Senior operating executive and global marketing leader for 30 years at companies in transition, including Kodak, Compaq, Siebel Systems, others in the U.S., Europe, and Asia-Pacific.
- Consultant for past 3+ years working with Geoffrey Moore, leading tech market strategy theorist ("Crossing the Chasm"), with clients at emerging, fast-growth, and large tech-based enterprises including LinkedIn, Kofax and others.
- Has specialized in growth strategies and plans for technology-based companies, including P&G, Kodak, Masterfoods, Compaq, Siebel, IRI, Saba, and now Chasm Group.
Session Packages from $500
Your Expert Package Includes:
- All 7 Best Practices
- Pre-Call Discovery Process
- One-on-One Call with Expert
- Session Summary Report
- Post-Session Engagement
Driving Transitional Growth for Tech-Based Businesses
Partner, The Chasm Group LLC
- Adjacent markets
- This refers to potential customers who are engaged with your existing customers. These are markets you might target to create a new beachhead in a related industry. Ideally, the adjacent market should be part of a business community that shares information with your existing customers. This will enable you to leverage good word-of-mouth to gain a foothold in that market.
- Category reinvention
- Synonymous with disruptive growth but with a focus on product innovation. With category reinvention, an existing technology is brought to bear in an entirely new way that changes the market and the infrastructure. The iPod and the electric car are both examples of this.
- Consumerization of IT
- The advent of the individual consumer as the primary user of and market for information technology. This constitutes a major shift from a commerical to a consumer market dominance.
- Continuous growth
- Growth that constitutes a natural evolution in the existing product line or the existing customer base.
- Crown jewels
- The things that differentiate and elevate your company from others and set you apart from the pack. They are your strongest suit. This could be your employees, your technology, your design, etc, but your company should own it and be able to control it in the long term.
- Disruptive growth
- Growth that creates a category reinvention. This can often turn an industry on its head. Digital photography and the iPod are both good examples of this.
- Dynamic dialog
- Real time interaction online with prospects and customers.
- Key performance indicators.
- Land grab economics
- Going aggressively after market territory in the early stages vs. trying to turn a profit. Amazon and SolarCity are both good examples of this.
- Management by objective.
- Minimum viable product
- A new product that is still coming together and may still be buggy, but is far enough along to be put into the market in a limited way, often just to early adopters, in order to test and iterate with actual users.
- A market-driven approach that looks at what is going on outside in the market, and uses that to drive decisions regarding product development and marketing.
- An acronym that refers to the five digital vectors that are changing the way business is now done: Social, Mobile, Analytics, the Cloud, and Security.
Driving Transitional Growth for Tech-Based Businesses: Defined Terms