Expanding into a new market is a high-stakes move for any tech scaleup. Done right, it unlocks new revenue streams and growth opportunities. Done wrong, it leads to wasted resources and missed potential.

In a recent episode of Wisdom From Wizards, brought to you by Caribou Strategic, I had the pleasure of speaking with Vivian Luu, Product & Solutions Marketing Director at Uber Freight. She shared three invaluable insights that every tech scaleup should consider when entering a new market or market segment.

1. Get Curious About Your Customer

Too many companies start with their go-to-market strategy before truly understanding their customer. Vivian emphasizes the importance of deep customer research, extending beyond the traditional buying cycle into the operating cycle.

What does this mean in practice? Instead of focusing solely on how and when a customer makes a purchase, consider:

• What their day-to-day challenges look like
• How they currently operate without your solution
• What gaps exist in their workflow and technology stack

By aligning your product, marketing, and sales teams around a holistic understanding of the customer, you position your company to create solutions that truly matter.

2. Analyze the Competitive Landscape and Market Gaps

Once you understand your customer, the next step is identifying white space in the market. Vivian advises scaleups to carefully evaluate:

• Who else is operating in the space?
• What strengths do existing players have?
• Where are there opportunities to differentiate?

Rather than attempting to replace established competitors, look for areas where you can add unique value within an existing ecosystem. This allows your company to carve out a defensible market position rather than fighting an uphill battle for dominance.

3. Right-Size Your Strategy

Market expansion isn’t just about where you grow, but how you scale sustainably. According to Vivian, tech scaleups need to:

• Define their total addressable market (TAM) — the full revenue opportunity available
• Identify their serviceable addressable market (SAM) — the portion of the TAM their business can realistically serve

This strategic focus ensures that your team doesn’t spread itself too thin or chase opportunities that aren’t aligned with your strengths. Instead, it helps scaleups prioritize the most impactful areas for growth and drive measurable success.

The Big Takeaway: Build a Market-Driven Expansion Strategy

Vivian’s insights highlight a critical truth: Market expansion is about serving customers better, not just selling more. By deeply understanding customer needs, analyzing competitors, and right-sizing your approach, your tech scaleup can build a strong, differentiated market entry strategy that fuels long-term success.

💡 Wisdom From Wizards is brought to you by Caribou Strategic, where we help tech scaleups stand out and succeed.

🎁 Want a weekly recap of Wisdom From Wizards AND a free eBook of my Amazon bestseller, Product Marketing Wisdom? Grab yours HERE.