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GTM Strategy: Fitbit Premium Enhance Project

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Final presentation of Go-to-Market Strategy for Fitbit Premium Project for University of Washington Software Product Management Certificate Program. June 2013

Final presentation of Go-to-Market Strategy for Fitbit Premium Project for University of Washington Software Product Management Certificate Program. June 2013

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  • For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
  • Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
  • For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
  • Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
  • Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
  • Transcript

    • 1. GTMJune 5, 2013PremiumTMSubscription ServiceFinal PresentationGreg and Nathan
    • 2. Product /Value Propositionto lead healthier, more active lives:• Make it easier: more active, eat smarter, get enough sleep• Core belief: Small changes add up to big resultsHow? Create innovative, inspiring products that :• make people more aware of everyday activities AND• motivate them to do more.Fitbit helps people…
    • 3. The Fitbit Story So Far…Google Trends (past 12 months)Fitbit = 2 x Nike FuelbandFitbit = 3 x Jawbone UPF = Fitbit One Launch/Xmas/New Year ResolutionsD = Fitbit Flex AnnouncedA = Fitbit Flex Available
    • 4. Strategic OverviewInitial Objective:“Develop subscription software / services in a way that engages existingcustomers and attracts new ones.”1. Energize Customer Base (reduce Churn rate) via better UX2. Retain Base  Maintain Trust/Loyalty"We are never going to be an advertising- or marketing-driven company.That has earned us a lot of trust with our users. That is primary.”3. Develop/enhance Premium UX as Value Add for Fitbit @ Work
    • 5. Brand Strategy /Target Audience• Awareness = High• Market Share = Medium• Likeability = HighMarketing Strategy:Advertise / Extend Brand toincrease Market shareDirecting Marketing-focusedon Key Channels for TargetTarget Persona Trends/Needs:• 25-50 years old• Working parent• Time is precious• Balance Work/Family/Health• Requires Ease of Use• Set good example for family.
    • 6. Market Positioning - TrendsGoogle Trends - Fitness• Peak Interest in fitness in Q4 – New Year’s resolutions
    • 7. Go To Market Campaign• Print = $106K• Social Media Marketing = $134K• Display Ads (Affiliate Program) = $23,000Marketing Campaign: $264 KDuration: Q4, 2013 – Q4, 2014
    • 8. GTM Campaign ROI
    • 9. Go To Market Campaign $264K 2013-14
    • 10. Premium CAC by ChannelChannel PremiumConversionRatePremiumUnitsAcquiredContributionMargin(Sales mix)CACMagazines:- People- Working Mother8.2%43%2,28048458%8%$39$35Social Media:- Facebook 11% 1,283 33% $105Display Ads:- Fitbit Affiliate Prog 2% 60 2% $6
    • 11. Go To MarketObjectivesMarketing Targets for 2013-2014:•Increase Premium users 10% by end of Q2 2014• Increase Fitbit device users 15% as of Q1 2014•Increase overall Premium users 25% by Q1 2015
    • 12. The AskApprove $264 K GTM Campaign for Premium EnhanceWhat we get:1. Energize Customer Base (reduce Churn rate) via better UX2. Retain User Base  Maintain Trust/Loyalty"We are never going to be an advertising- or marketing-driven company.That has earned us a lot of trust with our users. That is primary.”3. Develop/enhance Premium UX as Value Add forFitbit @ Work