Bowling for Marketshare

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A pragmatic approach for emerging companies for growing sales by narrowing its target marketing focus through segmentation.

A pragmatic approach for emerging companies for growing sales by narrowing its target marketing focus through segmentation.

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  • 1. Bowling for MarketshareHow to Grow Your Startup by Narrowing Its Focus
  • 2. Entrepreneurs are curious…
  • 3. …Problem Solvers…
  • 4. ….But Easily Bored.
  • 5. Boredom Breeds…
  • 6. …Product Nightmares…
  • 7. … and Unhealthy Exits.
  • 8. Boredom Leads to…
  • 9. …Directionless Startups…
  • 10. …and Product Nightmares.
  • 11. It’s best to focus.
  • 12. It’s best to go bowling…
  • 13. …and build your firm incrementally.
  • 14. Here’s how to start it in 90 days:
  • 15. Bowling Pin Method of Segmented GrowthFirst Stage1) Review your customer base/prospects to look for the 3-5 ‘stars’2) Take them to lunch and pick their brain3) Learn everything about them4) Test assumptions against similar firms5) Pick only one and work it hard!
  • 16. Bowling Pin Method of Segmented GrowthFirst Stage Natural Market ExtensionsSecond Stage1) Start looking once you reach 30-40% of a given market share2) Look for natural market extensions3) Work them until you reach 30-40%
  • 17. Bowling Pin Method of Segmented GrowthFirst Stage Natural Market ExtensionsSecond Stage Natural Market ExtensionsThird Stage
  • 18. Bowling Pin Method of Segmented GrowthFirst Stage Natural Market ExtensionsSecond Stage Natural Market ExtensionsThird Stage Natural Market ExtensionsFourth Stage
  • 19. 90 Days to Build Sales & MarketshareThe First 30 Days:• Start and finish the selection process• Speak to 5-10 related firms outside of your marketplace• Understand their pains and develop messaging that’s sensitive to it• Develop a mailing list of no larger than 250-300 contacts for lead generation• Set sales goals• Don’t ignore your current customers
  • 20. 90 Days to Build Sales & MarketshareThe Next 30 Days:• Develop multi-stage lead generation program (minimum three stages)• Create prospect qualification scoring system to ease sales efforts (A-B-C-D)• Train your inside sales teams for the follow up efforts• Launch lead generation program• Qualify all contacts• Don’t ignore new business that may not be related to your 1st market
  • 21. 90 Days to Build Sales & MarketshareThe Final 30 Days:• Pass on the “A’s” immediately to sales for action• Follow-up on the “B’s” next• Develop a lead nurturing program to convert A-B-C prospects into clients – Monthly mailings on issues that interest them – Attend all if not present at all tradeshows that are heavily attended• Review your efforts & expand• Work your leads
  • 22. Watch out for the Pitfalls• Doing it all yourself – Talent is inexpensive these days – Good telemarketers charge $35/hour• Relying on assumptions• Shifting too quickly to Stage 2 – Expand geographically first – Moving to there takes time• Not setting realistic sales goals• Giving up too quickly
  • 23. About Me• 16 Years in B2B marketing – Technology & Services – Software & SaaS – Embedded Computing• 12 Years in int’l marketing – German, Israeli, UK companies – Emerging startups to $40M firms• Actively consulting since 1998 – Marketing strategy and tactics – Clients <US$5M in revenues
  • 24. Questions?