Market mapping is a structured research process that identifies all relevant companies and potential candidates within a defined talent market for an executive role. It is used at the start of an executive search to define the full candidate universe before outreach decisions are made. A thorough market map prevents searches from being limited to the firm's existing network and ensures the shortlist is drawn from the best available talent, not just the most accessible.
What Market Mapping Covers
A market map for an executive role defines: the universe of companies where the target candidate is likely to work (by industry, stage, size, geography), the specific roles that would produce candidates with the required experience, and the individuals currently in those roles or who have recently held them.
For a VP of Revenue Operations search at a Series C SaaS company, the market map might identify 80–120 individuals currently in RevOps leadership roles at comparable companies, plus 20–30 who recently held such roles and have since moved on. This is the universe from which the longlist and ultimately the shortlist is built.
Market Mapping Outputs
How Market Mapping Is Conducted
Market mapping combines structured database research (LinkedIn, Apollo, PitchBook, industry databases), network intelligence (referrals from founders and operators in the space), and desk research on target companies to build a comprehensive picture of the available talent pool.
It is conducted at the beginning of the search, before any outreach begins, and typically takes 3–5 business days for a thorough map. The output is a documented list of target companies and individuals that the search team uses to prioritise outreach efforts.
“Most searches are limited by the size of the search firm's network. A genuine market map breaks that ceiling — it starts with the full universe of people who could do the job, not just the people the firm happens to know.”
Market Mapping vs Talent Mapping
Market mapping and talent mapping are closely related but distinct. Market mapping focuses on the supply side — defining the universe of companies and roles that produce the right candidates. Talent mapping focuses on the demand side — documenting specific individuals and their estimated availability.
In practice, a good executive search conducts both: the market map defines the universe, and the talent map (or longlist) populates it with specific individuals. Together, they ensure the search is based on an objective view of the available talent rather than network bias.