"Capturing 1% of the market" means nothing
Saying you'll capture 1% of the market doesn't mean anything.
Here's a better way to capture a market size:
How many customers can you obtain with one particular marketing channel?
Let's say with trade shows this year and you go to 5 of them. For each trade show, you earn 100 customers for $1,000 each.
That would be 500 customers for the year and $500,000 of revenue.
You can then do this type of math for each marketing channel you might be using and compare it to some industry standards.
Think bottom up rather than top down.
The best part about this method? These numbers give you assumptions to test and you can prove if your assumptions are correct with simple tests!
#shorts
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