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Class 17 - Go To Market Strategy

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66 views24 pages

Class 17 - Go To Market Strategy

Uploaded by

xmtexuxwhqnkqlbclx
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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GO-TO-MARKET STRATEGY

Andy Acs
PDM 7
MOVING FORWARD ON YOUR PM PATH
GO-TO-MARKET STRATEGY

LEARNING OBJECTIVES
‣ Understand components of a Go-to-market strategy
‣ Determine the most likely marketing channel for your product
‣ How to find your earliest customers and evangelists.
‣ Thinking about growth and scaling
GO-TO-MARKET

GTM STRATEGY
GO-TO-MARKET STRATEGY

WHY DO YOU NEED A


GTM STRATEGY?
GO-TO-MARKET STRATEGY

WHAT ARE YOU SELLING?


WHO TO SELL TO?
HOW WILL YOU REACH YOUR TARGET MARKET?
WHERE WILL YOU PROMOTE YOUR PRODUCT?
GO-TO-MARKET STRATEGY

HOW DO I REACH CUSTOMERS?


PAID SEARCH

• Fast and efficient way to find customers.


• Allows you to drill down based on a users intent.
• Helps answer assumptions about conversion and cost-per-
acquisition.
• Test new iterations cleanly.
• Downside – budget, mistakes can be costly, anonymous.
DIRECT ENGAGEMENT
DIRECT ENGAGEMENT

• Find communities of real people discussing relevant topics


around the internet.
• Engage with users and develop rapport that leads to
relationships.
• Offer solutions to outspoken problems.
• Recruit for initial participation or use.
• Free!
• Downsides: Limited audience, time consuming.
BUILDING COMMUNITY
BUILD COMMUNITIES

• Build communities around your problem area.


• Offer advice/assistance, ways to engage with others in the
community.
• Works particularly well for technology solutions for traditional
service businesses that are organizing as products.
• Convert community members into first customers, evangelists, or
lead generators.
• Downsides: Potentially very time intensive.
CREATING CONTENT
CREATING CONTENT

• Positions you as an expert.


• Relatively scalable, one piece of content can reach a large
audience.
• Potentially drives revenue.
• Build loyal following before building anything!
• Generates SEO.
• Downside: How do people find your content?
AFFILIATE MARKETING
AFFILIATE MARKETING

• First cousin of paid search.


• Distribute your product of “affiliates”, who promote it to their
users in exchange for a bounty on acquisition.
• Can be forged through direct relationships or through networks.
• Acquisition Marketing! Only pay when actual customers are
acquired, as opposed to CPC/CPM ads.
• Downside: Finding strong affiliates, noise.
B2B PRODUCTS

BUSINESS-TO-BUSINESS
PRODUCTS NEED DIFFERENT
TACTICS
B2B PRODUCTS

• Should be direct-sales driven.


• Recruit your first customers before building anything; provide as
service if possible.
• Paid search and other channels still potentially useful depending
on sales cycle and volume.
• Enter into pilot agreements, cancellation terms, or discounted
agreements in necessary.
• Customers should have skin in the game!
FIRST CUSTOMERS
B2B PRODUCTS

WHAT SHOULD BE YOUR


PRIMARY CHANNEL FOR
ACQUIRING CUSTOMERS?
LONG-TERM MARKETING CHANNELS

• Paid search – Products that directly generate revenue with each


acquisition or are clearly monetized (E-commerce).
• Community Based – Niche markets or problems that depend on
high, lasting engagement for repeat sales/high LTV.
• Content Driven – Products that will depend on advertising for
their business model. Lowers the cost-per-acquisition through
organic growth.
• Viral Growth – Products that’s key asset is customer acquisition/
data.
• Trade Shows / Events – Typically B2B, high cost of acquisition or
high dollar sales.
BETA GROUPS

BETA / PILOT GROUPS


BETA GROUPS

• Typical comprised on volunteers willing to test your products.


• Consists of early evangelists; whoever is most excited about their
problem being solved.
• More willing to tolerate incomplete products or known issues in
exchange for early access/better customer service/input in
product.
• B2B: Usually discounted or comes with terms. Free is not
advisable unless low-dollar sale.
GO-TO-MARKET STRATEGY

WHERE WILL YOU PROMOTE YOUR PRODUCT?


PUBLIC RELATIONS
EARNED VS OWNED CONTENT
PARTNERS / SUPPORTERS

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