Identifying New Market Segments

Identifying and defining a new market segment can present many exciting opportunities. When done in a professional manner, it is possible to even in today’s crowded Business World, to find a new niche for your company’s product or service. Well, there are many steps in the process, there are a few steps that feature prominently at the top of the list of priorities.

The first step is to come to terms with defining your target market. You can go into as much or as little detail as you like when defining a target market. The more detail you provide, the better the plan turns out. Key identifiers may include geographical location, demographics, and even cultural or religious beliefs. The more confident you are about your segment definition, the better.

Once phase 1 is completed, it’s helpful to go a little deeper. Success lies within the details, which can be ironed out by asking a few key questions. Arguably the most important question of all is whether or not the segment you have defined is large enough to support your business’ product or service. This will help you get an idea of whether or not this segment will fit in with your company’s business model.

The third step involves taking an even closer look at your existing data. Many types of data will assist you in your entry into a new market segment, such as the current purchasing habits and patterns within your desired market. The key is to focus on gathering as much information as possible.

Following these steps doesn’t in itself guarantee you success, but will go a long way in helping you to bring it about for yourself. When in doubt, do more research and don’t be afraid to ask question

Potential Buyers List: The Smart Approach

Around 50% of sales go to the first person to contact the buyer. This statistic alone proves that potential buyers lists  are invaluable to up-and-coming business owners. While it may only be a small part of the entire market research process, compiling a buyer’s list is certainly one of the most important. Without a potential buyers list, selling a product would be a lot like shooting the hoops blindfolded.

Generally speaking, the most effective way to compile a potential buyers list would be to approach a company that is highly experienced in the field of market research. A team of these researchers is generally better equipped to deal with the legwork involved. Consider the fact that these sorts of companies have access to vast transaction databases, as well as a remarkable leveraging ability with all of their existing connections. It is much simpler for these professional market researchers to put you in contact with the right people than it would be for you to plunge headfirst into the unknown.

These market research professionals are often referred to as “advisors” or “business advisors” as they have the ability to make lucrative suggestions to start-ups who may be struggling to get a foot in the door.

The Importance of Compiling a Potential Supplier List

Any project manager worth their salt will tell you that compiling a potential supplier list involves more than scanning through price lists and picking the cheapest option. Especially in the case of new businesses, potential supplier lists are of the utmost importance as they lay the foundation for quality assurance. As a business owner you need to be absolutely sure that the suppliers you choose are able to comply with your demand and, by extension, the demand of your customers. Your products need to be delivered on time and at the right price in order to keep your reputation in good standing. You need to be sure that your potential suppliers are able to keep up.

Identifying potential suppliers can be done in a variety of different ways. Word of mouth through employees and clients, international seminars, and market analysis reports are probably the most popular ways to source the necessary information. Once a large list of suppliers has been identified it becomes necessary to separate the wheat from the chaff, so to speak.

Compile your potential supplier list based on the following criteria:

  • Storage facilities
  • Specific delivery methods
  • Quality standards
  • Return policies
  • Terms and conditions of payments
  • Order quantities
  • Testimonials/references

Funding in Second Half of 2014

As the year comes to an end Goodman Lantern summarised venture and angel funding in various sectors reported by VentureBeat. The clear winner is E-commerce based on it’s growth in Asia:

  • Wearables: $10m

  • Web hosting: $15m

  • Internet of Things (IoT): $17.8m

  • eHealth: $21.4m

  • Rentals / Travel: $21.8m

  • Games: $30m

  • Social Media: $40m

  • Betting / Fantasy Sports: $43.7m

  • Recruitment: $44m

  • Digital Subscription: $115.7m

  • Platforms: $123.1m

  • Streaming: $150.5m

  • Video / Music / Streaming: $173.8m

  • Ecommerce: $300m


  • Video / Music / Streaming: Musx overhauls its streaming music app, raises $500K December 10, 2014 3:00 AM | Tom Cheredar

  • Video / Music / Streaming: SoundCloud reportedly raising another $150M to join the $1B valuation club

  • Rentals / Travel: VaycayHero grabs $2.8M to take the pain out of vacation rentals

  • Digital Subscriptions: Next Issue raises $50M to become a Netflix for digital magazines


  • Ecommerce: Rocket Internet’s Amazon clone Lazada secures $250M Digital Subscriptions: Pluto TV takes $13M for its free linear TV streaming serviceYoubetme

  • Betting / Fantasy Sports: Youbetme grabs $2.7M to help you keep track of all your bets

  • Ecommerce: Ecommerce juggernaut Bigcommerce nabs $50M

  • eHealth: Florida-based Modernizing Medicine has raised $15 million of a $20 million round to support the development and marketing of its cloud-based, specialty-specific electronic health records (EHR) platform.


  • Digital Subscription: Roku raises $25 million amid growing competition from Amazon and Google

  • Digital Subscription: Cratejoy grabs $4M to give anyone their own monthly subscription service

  • Wearables: Atlas raises $1.1M to power its Motion Genome Project, a motion database for wearables


  • Wearables: Pristine grabs $5.4M to cure the doctor shortage and save lives with Google Glass

  • Digital Subscription: Application delivery platform startup PowWow has raised a new $2.5 million round of funding today to help businesses work from mobile devices.

  • Video / Music / Streaming: Video startup JW Player has raised a fresh $20 million round of funding to grow beyond its status as one of the most used non-YouTube video players.

  • Social Media: Snowball Finance (Xueqiu in Chinese), the Chinese finance-focused social media site, announced that the company has raised $40 million in Series C funding led by Renren Inc. and joined by existing investor MorningSide Ventures. The company raised a Series A funding of US$10 million last year, and $3.2 million in 2011.

  • Video / Music / Streaming: picks up $1.2M to inject music into your marketing campaignMoney


  • Video / Music / Streaming: Streaming music service 8tracks has secured $1.28 million in new funding, according to an SEC Form D filed today.

  • Wearables: Ybrain just raised $3.5 million to further development of its Alzheimer’s treating healthcare wearable.

  • Web Hosting: Wikia, a web hosting company of community-based websites for fans of movies, bands, games, and other subjects, has brought on $15 million in fresh funding.

  • Platform: Glassbeam just raised $2 million to expand its SCALAR machine data analytics platform.

  • Platform: Lumiata raises $5M to further its optimized medical-care analytics

  • Betting / Fantasy Sports: DraftKings grabs $41M for its cash-rewards fantasy football league

  • Platform: Product-management platform Wizeline raises $6.7M

  • Platforms: Financial planning company, FeeX, just raised $6.5 million to help more consumers save money on hidden investment fees.

  • Recruitment: Resumator grabs $15M because investors can’t get enough recruiting software

  • Recruitment: Popular recruiting software, The Resumator, landed $15 million to expand internally and externally.

  • Rentals / Travel: Airport car-rental service RelayRides just received $10 million in funding to push expansion and fuel app development.

  • eHealth: Acupera pulls in $4M to help health providers better understand their patients. Acupera’s system mines data from electronic health records, medical claims, and lab results to help doctors and nurses better care for their patients.

  • IoT: The Internet of Things heats up with CyberLightning landing $4.2 million funding for global expansion.

  • Platform: Investment management platform Axial has raised a new $11 million round of funding, the startup announced today.

  • Platforms: Online meal delivery service Foodpanda has raised a fresh $60 million round of funding, the company announced today.

  • Platforms: Quettra gets $2.9M in new funding to give advertisers more customer dataFunding daily cat


  • Video / Music / Streaming: Today, FameBit has announced that it has completed a $1.4 million seed round of funding, which will help it scale its team and give more YouTubers the opportunity to make money off their creativity.

  • eHealth: Healthy-living photo community PumpUp raises $2.4M in seed funding July 24, 2014 11:07 AM | Brenda Barron PumpUp, a fitness social network for primarily women, just raised $2.4 million in seed funding with General Catalyst Partners leading the round.

  • Platform: Movius raises $13M to give BYOD users multiple phone lines, split billing on one device. The company plans to use the money to take its two core products global.

  • Games: Mobile game maker, Social Point, just received $30 million in funding in a round led by Highland Capital Partners Europe.

  • Digital Subscription: Online graphic design tool, Canva, raised $3.6 million more in funding and announced plans for third-party integration. Digital Subscription: Speaktoit raises $2.6M to build an army of ‘personal assistants’. The company develops what an “intelligent companion,” which acts like Apple’s Siri but operates across devices and comes with a face. Platform: Vision Critical raises $16M in additional funding. Vision Critical receives $16 million more in funding to expand its customer intelligence platform.

  • IOT: Smart climate control maker tado° secures $13.6 million to fuel global expansion.

  • Recruitment: Jobandtalent recruitment platform raises $14 million more in funding.

  • Rentals / Travel: Montreal-based bus-ticket booking company Busbud has pulled in $9 million in a Series A round of funding, it announced today.

  • Digital Subscription: Cloud Engines, the company behind Pogoplug, raised another $2 million in funding for its cloud storage service.

125 Top Technology Blogs

If you are launching a new app, website or digital product, it’s worth telling the world about it. A good place to get started is to contact technology blogs who care about your innovation and are looking to find the next big thing. If pitched in the right way they can make a difference. Here is a list of Top 125 technology blogs you should certainly get in touch with:

Blog / Website NameURL
The Next Web
The Verge
Bloomberg’s Tech column
Ars Technica
New York Times Technology Column
NYT Bits
Make Use Of
Digital Inspiration
Tech Dirt
Tom’s Hardware
Inside Facebook
Los Angeles Times
Slash Dot
Slate’s Technology Column
Life Hacker
MIT’s Technology Review
Geek Wire
BBC Future
Techna Bob
Guardian Technology Column
Electronic Frontier Foundation
Tech Redar
Beta News
The Register
IT World
PC Mag
Addictive Tips
Gear Petrol
Ad Age
How To Geek
9 to 5 Google
9 to Toys
Fast Company
Peta Pixel
Droid Life
Huffington Post
Laptop Mag
Tech Cocktail
Android Police
The Flurry Blog
Times if India’s Technology column
Talk Android
Pocket Lint
Slash Gear
Ken Sengall’s Blog
Shout Me Loud
Just Web World
Blog Godown
Hot Blog Tips
Blogging Cage
Bloggers Passion
Pro Blogger
Smart Bloggerz
Copy Blogger
Tricks Daddy
Techy Passion
Computer How To Guide
Shout Me Tech
Techie Blogger
Smashing Magazine
Wiki Blinks
Biz Journals
Groovy Post
Chris Pirillo’s Blog
Let’s Talk Tech
Tech Shout
Geek Insider
Blog Solute
Tech Linko
Beta Kit
Web Designer Depot
G Hacks
Evernote Blogcast
Rogers Redboard
Chip Chicks
Android Guys
Phone News
Zatz Not Funny
Euro Gamer
Fone Arena
Berry Reviews
The Tech Blog
Yanko Design
Chitika Insights
All Facebook
Mobile Burn
Lili Putting
Phone Scoop
WM Power User
Android and Me
Into Mobile
Pocket Now
Tuaw – Unofficial Apple Blog
Mobile Syrup
PH Android
OS News
Matthew Woodward
Marketing Land
Chris Brogan
Social Times
Search Engine Journal