GO TO MARKET THE STRATEGY AND EXECUTION OF TAKING A PRODUCT OR SERVICE INTO THE MARKETPLACE
Oct 31, 2014
G O T O M A R K E TT H E S T R A T E G Y A N D E X E C U T I O N O F T A K I N G A P R O D U C T O R
S E R V I C E I N T O T H E M A R K E T P L A C E
Hi, I’m Dana Brown
• General Partner at the Octane Group• Social Innovation Fund Co-Chair for United Way of Metropolitan Dallas• 20-year technology industry career• Expertise in corporate and product strategy, marketing, mergers,
acquisitions, and investor relations
Go To Market Plan Outline
• Defining the product, value prop, and customers• Pricing and Costs• Value Proposition• Reaching Customers• Selling• Sta!• Infrastructure
Defining the product and customers
• What is the product or service?• What are the target markets?• Who are potential buyers?• Why would someone buy this?• How can a customer be developed into a repeat buyer?
Exercise #1: Customer Definition
• Use Case: Define a series of key benefits for a to be developed product that solves the pain of individuals who want to sell co!ee beans online.
• Define the customer, target market/group, and why they should buy.
Pricing and Costs
• How will your product be priced?• How many models/price points?• ROI for customers by model/service• Time to initial revenue/sales cycle• Delivery timeline/costs• Go To Market Costs
Exercise #2: Pricing/Costs
• Using basic assumptions, define a cost model for manufacturing, storing, marketing, and delivering co!ee beans through on an online channel.
• Based on these assumptions, discuss price points for your product to ensure profitability.
Value Proposition
• List and describe decisions for customers• Define ROI for customers• Define guarantees
Exercise #3: Value Proposition
• Define the key benefits of your co!ee beans and why a customer should buy online versus through existing channels.
Reaching Customers
• Define communications channels• Define messaging/call to action• Create a pipeline of potential customers• Define success (metrics)
Exercise #4: Reaching Customers
• Discuss what channels of communications would you use to reach your pre defined customer base? What messaging would call them to action?
• Define what a successful ‘reach’ would be for this product.
Selling
• Lay out 2-3 key channels• Define sales cycle• Engage customers with trials, up sells, and cross sells
Exercise #5: Selling
• What are the 2-3 primary sales channels for this product (think online only for this product). Which channels would you use on your own business?
• What is a realistic sales cycle for this? How would it di!er for each of your own products/services?
Staff
• Develop sales sta! model by outlining sales cycle, hit rate, commission structure, etc.
• Create org chart to support sales sta! (managers, customer service, delivery of solution, etc.)
• Identify a plan for hiring, maintaining, and growing a sta!
Exercise #6: Staff
• Describe the size and skills of a sales sta! for the co!ee bean business? How would your business needs di!er?
Infrastructure
• Determine internal processes• Evaluate and purchase CRM, sales delivery, and other necessary
software tools• Create plan of action to support/manage sales sta! based on
metrics and key performance indicators
Exercise #7: Infrastructure
• Discuss software infrastructure needs for launching, selling, maintaining this product online.
Other Go To Market Plan Considerations
• Elevator Pitch• Customer/Market Segmentation• Revenue Forecasts• Marketing Budget• Training Plan and Job Descriptions
Q & A