A wise product marketing instructor at the Pragmatic Institute once said, “Your opinion, although interesting, is irrelevant.”
When deciding whether to enter an existing IT industry segment, or to create a new offering that would essentially create a new IT industry segment from scratch, it’s best to do so with your eyes wide open. In other words, conduct a formal research study of prospective buyers to determine what, if any, needs are unmet or underserved.
CyberEdge can help IT vendors decide whether to expand into new or existing IT industry segments by conducting formal research studies using a mix of web-based surveys and telephone interviews with prospective buyers. By leveraging an independent research company like CyberEdge, you’ll get unbiased answers to your most important questions, such as:
- Are organizations generally satisfied with existing vendors?
- How loyal are organizations to their existing vendors?
- Are there any specific needs that are unmet or underserved by existing vendors?
- Are organizations open to switching to new vendors? And, if so, under what circumstances?
- What percentage of organizations haven’t yet acquired products in your prospective product category?
Some tech vendors attempt to validate potential new markets in-house. But the benefit of using an outside research firm like CyberEdge are compelling.