Marketing Research
It’s an age-old business dilemma: You want to grow your business, but aren’t sure where or how to allocate resources most efficiently to make it happen. Sound familiar? If so, you may need to conduct a gap analysis.
A gap analysis begins with an audit and assessment of your current business performance to identifying the differences between where you are now and where you’d like to be.
In marketing, the gap analysis allows you to identify new markets and audiences to expand your business and meet the demand for products or services in those underserved markets. It also looks at the difference between actual customer needs and how your organization perceives them.
Once you pinpoint the gap between the existing and new business opportunities, you can devise an integrated marketing strategy and select the right mix of tactics to bridge this gap faster and most efficiently.
At Datalyn Development Limited, we utilize a scientific approach to gap analysis. In partnership with your team, we conduct an in-depth study of your company, customers, competitors and industry to discover the areas that need your immediate attention. Then we help you develop a precise and prioritized marketing strategy to accelerate business growth and profitability.
What is a gap analysis?
A gap analysis is a strategic process that helps your business compare its current, real-world situation with its ideal goals. When you determine what obstacles might be preventing teams or individuals from attaining goals sooner, it helps you push your organization toward growth and development.
Pinpointing goals, understanding the current situation, and figuring out remaining obstacles allows your team to collaborate on a plan to achieve those goals.
When to use a gap analysis
A gap analysis can help your team become better strategic planners. Use it to identify problems, adapt products or services, or change company processes to better align on goals.
Specifically, your organization can use a gap analysis to:
Benchmark company results against external criteria such as industry standards
Analyze your products and services to find new sales and marketing opportunities
Forecast profits
Reveal opportunities for improvement in existing processes
Understand why Key Performance Indicators (KPIs) aren’t met
Discern the difference between a product or service’s current and potential market size
A gap analysis begins with an audit and assessment of your current business performance to identifying the differences between where you are now and where you’d like to be.
In marketing, the gap analysis allows you to identify new markets and audiences to expand your business and meet the demand for products or services in those underserved markets. It also looks at the difference between actual customer needs and how your organization perceives them.
Once you pinpoint the gap between the existing and new business opportunities, you can devise an integrated marketing strategy and select the right mix of tactics to bridge this gap faster and most efficiently.
At Datalyn Development Limited, we utilize a scientific approach to gap analysis. In partnership with your team, we conduct an in-depth study of your company, customers, competitors and industry to discover the areas that need your immediate attention. Then we help you develop a precise and prioritized marketing strategy to accelerate business growth and profitability.
What is a gap analysis?
A gap analysis is a strategic process that helps your business compare its current, real-world situation with its ideal goals. When you determine what obstacles might be preventing teams or individuals from attaining goals sooner, it helps you push your organization toward growth and development.
Pinpointing goals, understanding the current situation, and figuring out remaining obstacles allows your team to collaborate on a plan to achieve those goals.
When to use a gap analysis
A gap analysis can help your team become better strategic planners. Use it to identify problems, adapt products or services, or change company processes to better align on goals.
Specifically, your organization can use a gap analysis to:
Benchmark company results against external criteria such as industry standards
Analyze your products and services to find new sales and marketing opportunities
Forecast profits
Reveal opportunities for improvement in existing processes
Understand why Key Performance Indicators (KPIs) aren’t met
Discern the difference between a product or service’s current and potential market size
Developing financial options
Financial modeling and analytics
Improving your business planning
Delivering financing solutions
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