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Perception vs Reality: Why smaller markets may indeed be a better fit! - OneDayGlobal

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Aug 16

Perception vs Reality: Why smaller markets may indeed be a better fit!

When many entrepreneurs enter a market one of their first goals is to aggressively enter the biggest markets where they see the largest consumer demand and profit base. As a result most entrepreneurs focus their efforts on the US and western markets because they see them as holding the most potential. By doing so companies lose a chance to test and extract significant profits in other credible and penetrable markets. These alternative markets can actually hold more potential than the entrepreneur first anticipated.

In the majority of SaaS platforms and other web services localization can be done immediately and at a low cost.  This can enable the entrepreneur to test his product, acquire customers and iterate as needed in a less cutthroat competitive environment.

A great example of a young company that is applying this is Ubersense. Ubersense was started in the US when its founder Krishna Ramchandran wanted a better way to analyze his golf swing and find a way to improve it. What started as a project aimed at addressing his need became Ubersense. Ubersense uses cloud technology to allow athletes to load their videos of their swings and compare it to ideal performances. This then informs the athlete what his areas of improvement are. The virtual coach is quite simple and yet very effective.

Krishna launched the product and the results thus far have been very encouraging. What enabled the initial success of the product was that his product was easily accessible and self-explanatory to people across the globe. Krishna’s largest consumer market is not the US or Western Europe but rather Japan. If Krishna had focused his marketing and product efforts solely on the US market he would have lost a great deal of potential consumers and revenues.

By having his product be successful in smaller markets Krishna and the Ubersense team have set themselves up to be more successful in the larger western markets. By the time Ubersense will have penetrated the US it will have an established reputation and consumer base and have gone through several iterations.  The Ubersense model could prove useful to many other startups who mistakenly go for the largest piece of the global consumer pie thinking it is the only way for long term success.

5 comments

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  1. mawya

    Another great article

  2. Cletus Kipling

    Why is it I all the time really feel like you do?

  3. Marina

    You have really interesting blog, keep up posting such informative posts!

  4. Блог о путешествиях

    Thx for this great information that you are sharing with us!!!

  5. lcj kredyt

    Hii all. I agree with you – 100% +. Thank you for the information. Lukas.

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