What does it mean to be Market-Driven?
All too often companies are driven by internal opinions, development initiatives, sales requests and more. Additionally, companies get caught in the trap of building products and ideas before knowing whether anyone anywhere wants to buy their creation. This is known variously as inside-out or internally-driven business. It may work in art, but it is a recipe for risk for companies. Rather, one of our goals in business should always be to reduce risk. How can you know if what you’re building is of value to your business if you’ve never checked?
A Market-Driven Business, on the other hand, puts its customers and buyers first. They hear regularly from their market, and base all critical decisions on the voice of the customer. They understand that building and marketing to the validated needs of the market means that risk is reduced and product and ideas can be produced with more confidence. A Market-Driven Business is more strategic, less prone to reactionary decisions, and considerably more in touch with their market. This is a recipe for long-term success.
Is your team aligned to your whole market?
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The Market-Driven Primer: Align Your Team to the Whole Market
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