{"id":2694,"date":"2022-06-22T05:38:55","date_gmt":"2022-06-22T05:38:55","guid":{"rendered":"https:\/\/mt-old-connectbase.local\/?p=2694"},"modified":"2023-01-05T17:15:34","modified_gmt":"2023-01-05T17:15:34","slug":"using-nearnet-analysis-to-grow-your-total-addressable-market","status":"publish","type":"post","link":"https:\/\/mt-old-connectbase.local\/blog\/using-nearnet-analysis-to-grow-your-total-addressable-market\/","title":{"rendered":"Using NearNet Analysis To Grow Your Total Addressable Market"},"content":{"rendered":"

Helping Connectivity Wholesale Sellers Expand Their Reach<\/span><\/h2>\n

In our brand new guide, <\/span>\u201c5 Pillars of Wholesale Connectivity Selling in 2022\u201d<\/span><\/a>, our first pillar focused on the importance of understanding your <\/span>total addressable market.<\/span><\/a> In this blog, we\u2019ll look at that point in greater detail, helping you understand its true value and giving you the steps to get started today.\u00a0<\/span><\/p>\n

Here are the two main components of creating an understanding of your total addressable market, which we will cover today:<\/span><\/p>\n

    \n
  1. Clean up your existing building lists to understand your serviceable locations<\/span><\/li>\n
  2. Conducting<\/span> a near-net analysis<\/span><\/a> to identify options for expansion<\/span><\/li>\n<\/ol>\n

    With these two steps accomplished, you\u2019ll understand the full scale of your OnNet or lit building opportunities, and the immediate nearby opportunities you have in the market<\/span><\/p>\n

    To put us on even footing before we jump right in, let\u2019s first define a few items.\u00a0<\/span><\/p>\n

    KMZ Files: A KMZ file is a Zip-compressed KML file that stores map locations viewable in various geographic information systems (GIS) applications, most notably Google Earth. (Via <\/span>fileinfo.com<\/span><\/a>)<\/span><\/p>\n

    OnNet Buildings<\/span><\/a>: OnNet buildings are properties where network service providers have physically built connectivity with network that they own.<\/span><\/p>\n

    NearNet Buildings<\/span><\/a>: NearNet buildings are locations that are just a short build away from where you already service.<\/span><\/p>\n

    NearNet Analysis<\/span><\/a>: A service offering that provides a distance-based assessment of buildings in close proximity to a network service provider\u2019s existing routes.<\/span><\/p>\n

    With these few definitions addressed, let\u2019s dive into the details.\u00a0<\/span><\/p>\n

    Clean Up Your Existing Building Lists<\/span><\/h2>\n

    If you\u2019re reading this, then it\u2019s safe to assume that you are familiar with KMZ files and the rest of the terminology we discussed in the previous section. But our goal today is to dive deeper and understand how they work and how to take the next step.\u00a0<\/span><\/p>\n

    The high-level theme behind this post will be the importance of digitally transforming the way you do business. Operating with KMZ files is an overly manual process that makes it harder than needed to fully visualize your full serviceability and even harder to communicate it to your partners and prospects.\u00a0<\/span><\/p>\n

    Turning KMZ files into on-net building lists makes it easier for you to view, update and manage, sort, and distribute your serviceability.\u00a0<\/span><\/p>\n

    Being able to manage data, like your serviceable locations, update information, add new data, remove data, and being able to share this data with buyers are all important tasks.<\/span><\/p>\n

    This means having clean, accurate, and organized building lists will be more than necessary for your sales team. If your data isn\u2019t clean, is fragmented, or just hard to sift through, it\u2019s costing your business money. Here\u2019s an example of the real-world cost of bad data.<\/span><\/p>\n

    \u201cIn the US alone, poor data quality costs the economy up to $3.1 trillion yearly.\u201d – <\/span>Techjury.net<\/span><\/a><\/p>\n

    While this statistic isn\u2019t specific to the connectivity industry, it still illustrates the point about the cost of poor data management. Being able to understand and quickly communicate your serviceability is a necessity for you to be able to scale your revenue in 2022 and beyond.\u00a0<\/span><\/p>\n

    The Connected World Platform has become an essential tool for many wholesalers when it comes to cleaning up and managing their building lists. For OPTK Networks, they got tremendous value out of this more efficient and accurate process.\u00a0<\/span><\/p>\n

    After joining The Connected World Platform they saw their lead time to identify serviceable locations drastically reduced from months to minutes.<\/span><\/p>\n

    What this boils down to is improving accuracy in your data and speed to retrieve and share it to help your organization grow. The fact of the matter is that when sellers move too slowly they lose out on deals. If they provide inaccurate information for a deal or inversely they miss out on an opportunity because partners don\u2019t know that they service a location, that hinders growth. The buyers’ experience needs to be smooth and frictionless or your business will suffer.\u00a0<\/span><\/p>\n

    Organization and data cleanliness on your end enable you to move to action quickly and thus respond to more RFPs.\u00a0<\/span><\/p>\n

    Run a NearNet Analysis<\/span><\/h2>\n

    To this point, we\u2019ve focused on the importance of understanding your OnNet footprint. We\u2019ve talked about how both of these enable you to move quickly and accurately to respond to requests from prospects and how this will help you grow your market presence.<\/span><\/p>\n

    But, as we mentioned in the beginning, there is another large part of understanding your total addressable market and that is running a NearNet analysis. This analysis identifies nearby opportunities where you can sell to and grow your OnNet footprint.<\/span><\/p>\n

    This process will allow you to strategically choose where to build that will provide you with the best ROI which will allow you to scale your operation with a plan. In the simplest terms possible, a NearNet analysis will show you the best and closest opportunities for you to grow and sell to.\u00a0<\/span><\/p>\n

    That growth is not just capped here though. One of the wonderful things about NearNet opportunities is that they grow as you grow your network.<\/span><\/p>\n

    For instance, let\u2019s say you identify a profitable NearNet opportunity so you sell it and build to it, transitioning that building to an OnNet building. The next time you conduct a NearNet analysis, you will have new buildings that are now close to this new OnNet build and propels your opportunity to continually expand your reach. This never-ending opportunity will continue to serve your business with opportunities to expand your serviceability and market presence.\u00a0<\/span><\/p>\n

    Traditionally, NearNet analyses are executed in two ways, line of sight and right of way. Let\u2019s take a look at both of these.<\/span><\/p>\n

    Using <\/span>line of sight<\/b> means looking at a straight line from the network path or access point going out a set number of feet (based on your own capital constraints), be it 500 feet, 1,000 feet, and so on. Some issues that arrive from this method are:<\/span><\/p>\n