Market mapping
In short
Market mapping is the practice of building a structured view of a market that lists the companies in it and groups them by traits such as industry, size, region, or use case. The map shows who your accounts are, who competes, and where you have no coverage.
Unlike market analysis, which ends in a conclusion, a market map is a working asset. Sales, marketing, and RevOps use it to plan territories, campaigns, and account lists.
What goes on a market map
- Companies: Every company that could plausibly buy, identified in a consistent way.
- Segments: Groupings such as industry, size band, region, or tech stack.
- Status: Customer, open opportunity, prospect, competitor customer, or untouched.
- Fit indicators: An ICP fit score or tier for each company.
How to build a market map
1. Define the boundary
Decide which market you are mapping, for example mid-size fintech companies in Europe. A map without a boundary becomes a database dump.
2. Collect the universe
Gather companies from a data provider and your CRM, then deduplicate against existing records.
3. Segment and tag
Apply the segments that matter to your strategy and mark each company with its status.
4. Find the gaps
Look for segments with many good-fit accounts and little activity. That is where whitespace analysis begins.
Example use
Say a team maps 8,000 companies, 600 of them customers or open deals. Grouping by industry shows two sub-industries with many fit accounts and no coverage. The team assigns reps and builds a campaign for those two first. The numbers are illustrative.
Common mistakes
- Static snapshot: Companies change size, stack, and status. Refresh on a schedule.
- Ignoring CRM data: A map that does not show existing relationships misleads planning.
- Too many segments: If you cannot act on a segment, merge it.
Market mapping FAQs
What is market mapping?
Market mapping is building a structured view of a market that lists relevant companies and groups them by segment, fit, and status. Teams use it to see their coverage, competitors, and unserved areas before planning territories or campaigns.
How do you create a market map?
Define the market boundary, collect companies from data sources and your CRM, deduplicate them, tag them by segment and status, and add a fit score. Then look for segments with many good-fit accounts and little coverage.
What is the difference between market mapping and market analysis?
Market analysis studies a market to reach a conclusion or decision. Market mapping produces a working, account-level view of the market that teams keep using to plan coverage, build lists, and spot gaps.
How often should you update a market map?
Update it whenever your data, ICP, or strategy changes, and refresh it on a regular schedule such as quarterly. Company size, tech stack, and status shift over time, and an old map hides new opportunities.
