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Product Discovery #1
Identify Target Audience
TalentSwift Hiring Platform Target Audience
Types
Description
Rationable
1
Total addressable audience
To estimate the TAM, we'll consider the total number of businesses in Indonesia that require hiring services. According to the , there were approximately 26 to 29 million registered businesses in Indonesia as of 2020. We can assume that a significant portion of these businesses engage in some form of recruitment activities.
all potential businesses and organizations that engage in recruitment activities
2
Narrowed audience
For the SAM, we'll narrow down our focus to the businesses that have a substantial need for efficient talent acquisition platforms. These could include medium to large-sized enterprises and high-growth startups that are actively hiring and are looking for ways to streamline their recruitment processes. Let's conservatively estimate this to be around 20% of the TAM. So, SAM ≈ 0.2 * TAM.
focusing on businesses with specific recruitment needs and priorities, we can tailor our product to better meet the requirements of these target segments.
3
Targeted audience
The SOM represents the portion of the SAM that TalentSwift can realistically capture within a certain timeframe, considering competition, market penetration strategies, and other factors. Since TalentSwift is a new platform, let's set a modest goal for the SOM. Assuming a 5% market penetration within the SAM in the first year of operation would be a reasonable target. So, SOM ≈ 0.05 * SAM.
directing our efforts towards HR professionals, recruiters, and hiring managers
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