2023.10.27 - Market analysis & ICP

ICP

ICP - Ideal Customer Profile

Your ICP must

  • have money

  • want to try out new solutions (early adopter)

  • have a big itchy problem

Market --narrow--> ICP --narrow--> Niche

ICP paremeters:

  • Industry, size, revenue (B2B)

  • GEO

  • Tools + Software

  • Roles + Ambitions (B2B)

  • Other your paremeters

Make a concrete list of your ICP with people or company names.

Pain point - Value - Message

Write down and describe all of your early adopters in a spreadsheet.

Market

We research market to see which amount of money we can earn.

  • TAM - Total addressable market

  • SAM - Service available market

  • SOM - Service obtainable market

There are 2 methods of calculating market size: top-down and bottom-up.

CAGR - Compound annual growth rate

Competitors

  • Direct

  • Indirect

  • Potential

  • Substitude

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