Expanding Market Reach
In the dynamic landscape of business growth, achieving sustainable success is best done by understanding the nuances of Total Addressable Market (TAM), Serviceable Available Market (SAM), and Share of Market (SOM). Imagine these concepts as concentric circles, where each circle represents a unique opportunity for market expansion. Navigating this diagram strategically can pave the way for increasing your market size and establishing a stronger foothold in your industry. 1. SOM (Share of Market): The innermost circle represents the portion of the SAM that you currently serve or command as a business. To increase your SOM: Enhance your value