Bowling for Marketshare

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

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Bowling for Marketshare

  1. 1. Bowling for MarketshareHow to Grow Your Startup by Narrowing Its Focus
  2. 2. Entrepreneurs are curious…
  3. 3. …Problem Solvers…
  4. 4. ….But Easily Bored.
  5. 5. Boredom Breeds…
  6. 6. …Product Nightmares…
  7. 7. … and Unhealthy Exits.
  8. 8. Boredom Leads to…
  9. 9. …Directionless Startups…
  10. 10. …and Product Nightmares.
  11. 11. It’s best to focus.
  12. 12. It’s best to go bowling…
  13. 13. …and build your firm incrementally.
  14. 14. Here’s how to start it in 90 days:
  15. 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. 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. 17. Bowling Pin Method of Segmented GrowthFirst Stage Natural Market ExtensionsSecond Stage Natural Market ExtensionsThird Stage
  18. 18. Bowling Pin Method of Segmented GrowthFirst Stage Natural Market ExtensionsSecond Stage Natural Market ExtensionsThird Stage Natural Market ExtensionsFourth Stage
  19. 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. 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. 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. 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. 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. 24. Questions?

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