Target Market Segment
Over the last couple of years, Absorb Software Inc. has become one of the market’s leading cloud-based technology company due to the adoption of innovative technology services that has led to the development of eLearning platforms providing learners with the best search results based on behavior and allowing administrators the ability to effectively monitor day-to-day activities and reporting. The company has continued to expand its global reach, a movement driven by continued innovation, product development, and partnership with other players in the market.
The two major market segments of Absorb Software Inc. are corporate training and professional education. The company caters to the corporate training market by providing learning management solutions to businesses across various industries. Generally, administrators must continuously train their employees to improve their skills and competencies, factors that go along a way in improving productivity and overall efficiency. Since the company has a global reach, its client base is global, but most of its clientele is in the United States, Canada, the United Kingdom, Australia, Germany, and France, among other European nations. (Absorb LMS, 2023) Looking at Absorb Software Inc.’s customer base, it is clear that companies of all sizes ranging from small businesses to large corporations across diverse sectors such as finance, retail, healthcare, and marketing, among others, continuously use the company’s innovative services to meet their enterprise learning management needs.
Over the years, Absorb Software Inc. has developed innovative learning solutions that have proven effective in providing employees and managers with high-quality and interactive learning experiences. The psychographics of these consumers includes the need for scalable and customizable learning management solutions that can be used to train employees and administrators to enhance skills and overall performance. (Absorb LMS, 2023) These services go a long way in meeting the common behavior among these consumers, which is the ability to actively seek modern learning management systems that facilitate seamless content delivery, assessment, and collaboration.
Generally, Absorb Software Inc. clients exhibit unique consumer behavior, including adopting online and blended learning management systems that can be customized to meet learning outcomes. These consumers are driven by a specific set of motivations which include the need for effective, up scalable, and customizable learning management solutions to improve the overall performance of the workforce or learners. (PR Newswire, 2021) Absorb Software Inc. has created innovative solutions that have made learning management easy to navigate while offering a user-friendly interface that allows seamless content delivery to meet the client’s needs. Over the years, the continued success of Absorb Software Inc. has been widely attributed to the increased desire among clients for a learning management system that meets administrators’ requirements to enhance employee productivity while maintaining compliance with industry regulations.
The learning experience preferences among learners have changed drastically over the last decade. Currently, learners desire an interactive learning platform that incorporates features such as gamification of content, multi-media content, and other social learning functionalities beyond the traditional classroom environment. (PR Newswire, 2021) These factors, coupled with the desire among learners and administrators to personalize the learning experience among learners and employees, have made Absorb Software Inc. successful in the market. In this case, the Company’s consumer base has unique behavioral patterns and decision-making factors that have led to the adoption of long-term partnerships and working relationships with many organizations across the globe. Further, the flexibility of the learning management services has led to regular updates and ongoing support to ensure that the company continues to meet the evolving needs of the consumer, factors that will go a long way in creating long-term patterns ships and working relationships.
To ensure a customizable and unique learning management solution for organizations, Absorb Software Inc. has empowered human resource (HR) managers like Stevens with the right skills to ensure their firms remain competitive in the market by adopting a culture of continuous employee education to increase productivity and efficiency. Stevens is a 36-year-old family man with two kids working in a mid-sized ICT company in the United States. Stevens understands the need to foster employee performance, a concept that has made him seek the contractual services of Absorb Software Inc.
The decision to prefer Absorb Software Inc. to other players in the market was driven by the company’s ability to provide tailor-made training solutions that could align with the organization’s goals and values. After extensive research, the decision to adopt Absorb Software Inc. was further informed by the unique needs of the organization’s employee training program and other behaviorists, such as Steven’s desire for a partner who offers ongoing support, an innovative user interface platform, regular updates, and good customer relations.
Positioning or Perceptual Map
The above figure shows that Absorb Software Inc.’s learning management solutions are affordable and highly customizable compared to competitors in meeting the ever-changing needs of an organization’s training and employee improvement programs. These solutions appeal to Stevens, who seeks innovative, highly up-gradable, cutting-edge learning solutions to meet the organization’s corporate training and professional educational needs.
Firstly, considering the fact that increased uptake by corporates and managers has been driven by the ability of software’s personalization and customization abilities, Absorb Software Inc. should provide advanced options that administrators can use to meet the evolving needs of the organizations. The software should demonstrate increased flexibility for branding and innovative user experience options. In this case, the company will retain the current customer base and attract other organizations that value customization and tailor-made learning management solutions. (Calgary, 2018)
Secondly, the company must dedicate substantial resources to marketing and through specific content advertisement, as this will go a long way in attracting new audiences into the customer bracket. (Calgary, 2018) This can be achieved through conventional and innovative marketing strategies such as blog posts, webinars, and case studies demonstrating an organization’s potential benefits from using Absorb learning management solutions. Specifically, webinars and case studies are crucial hunting grounds for new clients since they provide a platform where Absorb Inc. can demonstrate mastery of common challenges faced by human resource managers, and this will go a long way in attracting leads.
Lastly, Absorb Software Inc. can benefit largely from forming partnerships and collaborations with other market players and technology providers. By ensuring the learning management system remains flexible and customizable, Absorb Software Inc. can partner with other service providers who offer complimentary services such as innovative human resource software. This can increase the value of the organization’s learning management system. This concept can put them ahead of their competitors and go a long way in widening the customer reach.
Absorb LMS. (2023). Learning Technology. Retrieved from Absorb LMS: https://www.absorblms.com/company
CALGARY, A. (2018, August 14). Absorb software Capitalizing on e-Learning Market Growth with International Investments & Office Expansions. Retrieved from Business Wire : https://www.businesswire.com/news/home/20180814005095/en/Absorb-Software-Capitalizing-on-e-Learning-Market-Growth-with-International-Investments-Office-Expansions
PR Newswire. (2021, November 30 ). Absorb Software Recognized Among Top Learning Management Systems and Experience Platforms by Independent Research Firm. Retrieved from PR Newswire : https://www.prnewswire.com/news-releases/absorb-software-recognized-among-top-learning-management-systems-and-experience-platforms-by-independent-research-firm-301433709.html