Entering a new market or launching a new product is not an easy decision for manufacturers. Embarking on either requires a large investment of time, resources, and money.
To be confident about targeting new industries or accounts — or creating an entirely new product line — manufacturers need access to real-time data on the challenges and intelligence that topics buyers care about. This empowers them to make accurate demand predictions before investing in next steps.
Let’s look at how your manufacturing organization can uncover new opportunities for your business and expand your total addressable market (TAM).
Discover New Target Industries and Accounts
The easiest way to expand your business and TAM is by finding new industries or accounts that might be interested in your offerings.
You may think you know exactly who makes up your target audience, but there are always surprises. Today, when buyers research B2B brands, about 70% of their buying journey happens anonymously. This means most of the potential customers performing research about companies like yours aren’t on your radar at all.
Your buyers are conducting Google searches, reading trade publications, and checking review sites to determine which suppliers to consider. They may also visit your website numerous times and read your content.
And they often do this without ever transmitting an explicit signal of interest, such filling out a web form or making a call to your sales team.
Capturing all of those hidden signals — something we call “lighting up The Dark Funnel™” — reveals accounts that might be a perfect fit for your business.
A platform like 6sense can provide this information in an easy-to-digest format — and even alert your teams when a new account pops onto the radar. This helps you:
- Discover entirely new industries and accounts that are interested in your offerings
- Determine which ones are actively in-market for your solutions, and
- Which accounts are nearing a purchase decision right now
Instead of wasting time and money focusing on accounts that aren’t interested, you can engage entirely new accounts that will be receptive to your outreach. Suddenly, you’ve made it much simpler to expand your TAM.
Uncover Interest for New Products
You can also uncover hidden signals to discover demand for a new product type. Consumer preferences change regularly, and the best manufacturers need to keep their fingers on the pulse of the market to ensure they’re meeting its needs.
Your teams can use manual approaches to continually survey your customer base or conduct market research, but those activities require an investment of time and money without the guarantee of delivering actionable results.
But what if you could constantly stay on top of emerging trends without having to proactively reach out to your audience?
6sense can uncover the topics your audience is researching by capturing comprehensive buyer intent signals. You can track related keywords to see how interest changes over time, and even dive into accounts that are searching for a specific topic.
You can also track keywords related to your competitors to see if a new product they’ve launched is gaining steam.
By tracking the real-time research that’s happening related to your products or offerings, you can make well-informed decisions about what your target audience wants and cater your content and messaging to their needs.
Conclusion
Manufacturers can expand their TAM by leveraging technology that:
- Alerts them to industries and accounts that are in-market for their offerings
- Highlights broader trends that could uncover opportunities for launching new products
Ready to book a demo?
Let us show you how 6sense can help you eliminate guesswork and achieve efficient growth. Schedule a live demo or to watch some recorded demos at your convenience.
