Market Penetration Strategy Extract the full value from your market

Increase market share by expanding your customer base

Most companies don’t engage in comprehensive competitor monitoring and are excessively optimistic about their market position, overestimating their market position on average by a factor of two. Focusing on deepening market share in existing sectors allows companies to leverage the wealth of latent opportunities in customer engagement and retention that may have been overlooked or are accessible with adjustments to the product or service portfolio.

The Hanover Research Market Penetration solution is customized to enable you to maximize your market share. Using primary, secondary and data analytics research techniques, we uncover customer needs, identify purchase behaviors and sales drivers, allowing you to maximize customer acquisition and minimize attrition.

More than 6 in 10 companies prioritize growing market share in their current markets.

Source: Hanover Research Market Analysis Report

Take advantage of the markets you know to maximize potential sales

Identify

Find new opportunities and customers for sales growth in current markets.

Convert

Increase market share by attracting customers away from competitors.

Profit

Grow your bottom line without the expense and risk of entering new markets.

Key components: Market Penetration

Hanover Research draws from multiple research methodologies—benchmarking, survey research, and data analysis—to help you identify and maximize your market presence.

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Competitor Scan

Hanover Research collects data on competitive or product/service-level market factors to determine what actions competitors are taking in the market, their price points, and their offerings.

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Customer Needs Assessment Survey

Measures the customer’s need for your product or service, providing data on unmet needs, pain points, and challenges, as well as purchasing behaviors and what product/service attributes are most essential.

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Drivers of Sales Analysis

Identifies factors and variables that impact your sales conversion, using data analytic techniques to determine which variables drive successful sales. Use the project's results to allocate resources to focus on those factors, ultimately increasing sales.

Sylvan Validates Market Presence and Diversifies Product Portfolio Using Hanover Surveys

“Sometimes we’re so focused on our internal needs that we lose sight of best practices and an element of objective industry perspective. Hanover is our solution to overcoming this issue. The partnership helps us to interpret the big picture of our market positioning through objective eyes.”

– Amy Przywara, Vice President of Marketing, Sylvan Learning

Make decisions with confidence, not guesswork

Hanover Research provides high quality, custom research and analytics through a cost-effective model that helps clients in the corporate, education, and healthcare sectors make informed decisions, identify and seize opportunities, and heighten their effectiveness.

Flexible

Ongoing research agenda adapts with your organization’s needs

Expert

200+ analysts with advanced research expertise

Efficient

Annual, fixed-fee model delivers shared costs and benefits

Dedicated

Exclusive account and research teams ensure strategic partnership

Put the power of our Market Penetration solution to work for you