SOM (Accessible and Usable Market)

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3. SOM (Serviceable Obtainable Market)

SOM is the subset of SAM that can actually work with your current marketing and sales efforts. It’s your immediate go-to-market objective , based on your ability to attract and convert customers.

Strategy for SOM:

Defining the target audience : At this point, you define the country email list specific profile of the customer you are targeting. You can use demographic, psychological, purchasing behavior criteria, among others.
Competitive research : analyze how your competition is capturing this market and how you can differentiate yourself.
Marketing strategy : Define specific tactics to capture this market. This includes positioning strategies, distribution, pricing, and digital or traditional marketing campaigns.

How to apply TAM-SAM-SOM?
Understanding TAM : You need to be sure that this is the size of the entire market potential. This involves doing some in-depth initial research.
Example : If you sell human resources consulting services, your TAM can serve all companies that need these services across the country or worldwide.
SAM Segmentation : Not every company or person in your TAM will be available to you. Identify factors that limit your reach and segments that are more accessible.
Example : Perhaps you end up deciding to focus on medium and large companies within a specific sector like technology or healthcare.
Determining SOM : Now, focus on the most immediate and reachable target audience . Based on your sales and marketing capabilities, identify who can realistically be targeted.
Example : If your HR consulting firm is in a specific city and has a limited budget, the SOM will only be the mid-tier companies in your local area that can afford your services.
From TAM to SAM to Target Audience to Segmentation:
Segmentation consists of taking different segments , different parts, groups or categories of people that have some kind of similarity.