0
GoGlobal

“Helping US companies expand to new markets”
Justin Womersley, Dan Leahy,

Eric Epstein, and Gabriel Garza

Inte...
Canvas #1 - ExpertsOnDemand
Value Proposition

Customer Segments

Get Salesforce questions
answered instantly

Medium/Larg...
ExpertsOnDemand
What We Thought:
Salesforce is great since it’s used at
large companies with money and is
often complicate...
ExpertsOnDemand
What We Thought:
Salesforce is great since it’s used at
large companies with money and is
often complicate...
ExpertsOnDemand
What We Thought:
Salesforce is great since it’s used at
large companies with money and is
often complicate...
Restart..
Canvas #2 - GoGlobal
Value Proposition

Customer Segments

Help companies support their
services in other languages
and ti...
Canvas #2 - GoGlobal
Value Proposition

Customer Segments

Help companies support their
services in other languages
and ti...
GoGlobal
What We Thought:
Managing support in international
markets (different languages and
timezones) is a barrier stopp...
GoGlobal
What We Thought:
Managing support in international
markets (different languages and
timezones) is a barrier stopp...
GoGlobal
What We Thought:
Managing support in international
markets (different languages and
timezones) is a barrier stopp...
GoGlobal
What We Thought:
Managing support in international
markets (different languages and
timezones) is a barrier stopp...
Canvas #3 - GoGlobal
Value Proposition

Customer Relationships

Customer Segments

Help companies support their
services i...
Canvas #1 - ExpertsOnDemand
Key Partners
VCs who can recommend us

US Lawyers - after legal
work, recommend us to their
cl...
GoGlobal
What We Thought:
Weren’t sure whether SaaS or Ecommerce was a better customer
segment.

Lawyers and VCs would be ...
GoGlobal
What We Thought:

What We Learned:

Weren’t sure whether SaaS or Ecommerce was a better customer
segment.

E-comm...
GoGlobal
What We Thought:

What We Learned:

Weren’t sure whether SaaS or Ecommerce was a better customer
segment.

E-comm...
GoGlobal
What We Thought:

What We Learned:

Weren’t sure whether SaaS or Ecommerce was a better customer
segment.

E-comm...
GoGlobal
What We Thought:

What We Learned:

Weren’t sure whether SaaS or Ecommerce was a better customer
segment.

E-comm...
Customers said:
“I need help with researching top 5 countries we should be
thinking about next”
“I need help doing thoroug...
Canvas #3 - GoGlobal
Value Proposition

Customer Relationships

Customer Segments

Gain: Helping companies enter
new marke...
Canvas #1 - ExpertsOnDemand
Key Partners
VCs who can recommend us

US Lawyers - after legal
work, recommend us to their
cl...
So we got out the building..
We pushed hard to pitch these 2 products to as
many customers in our customer segments as
pos...
GoGlobal
What We Thought:
Series A US E-commerce companies
that were looking to expand to their
next market in the next 6 ...
GoGlobal
What We Thought:

What We Learned:

Series A US E-commerce companies
that were looking to expand to their
next ma...
GoGlobal
What We Thought:

What We Learned:

Series A US E-commerce companies
that were looking to expand to their
next ma...
GoGlobal
What We Thought:

What We Learned:

Series A US E-commerce companies
that were looking to expand to their
next ma...
GoGlobal
What We Thought:

What We Learned:

Series A US E-commerce companies
that were looking to expand to their
next ma...
Canvas #3 - GoGlobal
Value Proposition

Customer Relationships

Customer Segments

Gain: Helping companies enter
new marke...
So we had found a product/market fit,
but was it the best one?
We’ll get back to this later.
Diagrams and Key Metrics
http://GetGlobal.co
Total Visits: 100

CPC: $2

Warm Lead CAC: $30-$50
http://GetGlobal.co
Most Clicked: Logistics & Entry Guides
http://GetGlobal.co
Country Guides as lead generators - start the conversion with customers
http://GetGlobal.co
Improved Conversion - lowered the barrier to contacting us
Diagram of Partners & Payment Flows

Activity
Payment

Manage providers
GoGlobal

Customer
Management fee
10K - 30K

10%-1...
Customer Relationships
GoGlobal actions

Pass / Fail Metrics

●

Direct Sales to:
○ E-Commerce companies

●

Direct salesp...
Customer Personas / Archetypes
+
User:

1

Influencer:

2

Recommender:

3

Title:

New Market
“Launcher”

Age /
Sex:

Lat...
Why Mexico? Big, Growing, and Underpenetrated

SOURCES: Gartner, Leading Latin American Offshore Services Locations, 2014:...
Initial Market Size
Initial market size per
year a function of:
● # of Series A deals:
830
● Total Globalization
spend: $2...
Competitors
Large
Consultancies
/ Market
Research

ProMexico / American
Consulate Services
“point you in the right
directi...
Metrics that Matter
fact

kinda

guess

CPA to get email - warm lead: ~ $50
Average initial purchase size: $10k - $40k*
Av...
Investment Readiness Level

5
But….
Go global e245 march 2014 final
Upcoming SlideShare
Loading in...5
×

Go global e245 march 2014 final

1,019

Published on

Published in: Education
0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,019
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
35
Comments
0
Likes
4
Embeds 0
No embeds

No notes for slide

Transcript of "Go global e245 march 2014 final"

  1. 1. GoGlobal “Helping US companies expand to new markets” Justin Womersley, Dan Leahy, Eric Epstein, and Gabriel Garza Interviews this week: 9 Interviews to date: 92 Mentor interactions this week: 0, 0 Mentor interactions to date: 10, 32
  2. 2. Canvas #1 - ExpertsOnDemand Value Proposition Customer Segments Get Salesforce questions answered instantly Medium/Large sized companies that use Salesforce and don‟t have in-house experts to solve mission critical problems. Save time and money by increasing Salesforce efficiency
  3. 3. ExpertsOnDemand What We Thought: Salesforce is great since it’s used at large companies with money and is often complicated and unwieldy. Companies can only hire in-house or bring in consultants - both are expensive and not suited to small and quick but important problems. Salesforce is complicated and businesses often struggle with using it, which slows their business down in a critical ways. What We Learned:
  4. 4. ExpertsOnDemand What We Thought: Salesforce is great since it’s used at large companies with money and is often complicated and unwieldy. Companies can only hire in-house or bring in consultants - both are expensive and not suited to small and quick but important problems. Salesforce is complicated and businesses often struggle with using it, which slows their business down in a critical ways. What We Learned:
  5. 5. ExpertsOnDemand What We Thought: Salesforce is great since it’s used at large companies with money and is often complicated and unwieldy. Companies can only hire in-house or bring in consultants - both are expensive and not suited to small and quick but important problems. Salesforce is complicated and businesses often struggle with using it, which slows their business down in a critical ways. What We Learned: Nobody cares! It’s a nice-to-have, is never mission critical and nobody was begging us to take their money...
  6. 6. Restart..
  7. 7. Canvas #2 - GoGlobal Value Proposition Customer Segments Help companies support their services in other languages and timezones SaaS companies with have never expanded before and need help with their first expansion. Translating their websites professionally Gain: Helping companies enter new markets in a faster and more effective way Pain: Navigating the legal requirements to expand internationally Pain: The logistics involved in entering a new market E-commerce companies with have never expanded before and need help with their first expansion.
  8. 8. Canvas #2 - GoGlobal Value Proposition Customer Segments Help companies support their services in other languages and timezones SaaS companies with have never expanded before and need help with their first expansion. Translating their websites professionally Gain: Helping companies enter new markets in a faster and more effective way E-commerce companies with have never expanded before and need help with their first expansion. Pain: Navigating the legal requirements to expand internationally Really vague Pain: The logistics involved in entering a new market
  9. 9. GoGlobal What We Thought: Managing support in international markets (different languages and timezones) is a barrier stopping companies expanding. Translating their website was a pain and was hard to manage and a large barrier to reaching external markets. Our customers would be first-time expanders (since they have no experience and need the help), and not repeat expanders. What We Learned:
  10. 10. GoGlobal What We Thought: Managing support in international markets (different languages and timezones) is a barrier stopping companies expanding. Translating their website was a pain and was hard to manage and a large barrier to reaching external markets. Our customers would be first-time expanders (since they have no experience and need the help), and not repeat expanders. What We Learned: Business most often won‟t trust support to an unknown 3rd party. Support was not the first barrier, and not the most pressing issue
  11. 11. GoGlobal What We Thought: Managing support in international markets (different languages and timezones) is a barrier stopping companies expanding. Translating their website was a pain and was hard to manage and a large barrier to reaching external markets. Our customers would be first-time expanders (since they have no experience and need the help), and not repeat expanders. What We Learned: Business most often won‟t trust support to an unknown 3rd party. Support was not the first barrier, and not the most pressing issue Website translation is a solved problem with many good competitors - this is one of the easiest aspect of expanding.
  12. 12. GoGlobal What We Thought: Managing support in international markets (different languages and timezones) is a barrier stopping companies expanding. Translating their website was a pain and was hard to manage and a large barrier to reaching external markets. Our customers would be first-time expanders (since they have no experience and need the help), and not repeat expanders. What We Learned: Business most often won‟t trust support to an unknown 3rd party. Support was not the first barrier, and not the most pressing issue Website translation is a solved problem with many good competitors - this is one of the easiest aspect of expanding. First time customers didn‟t care. Though they could do it themselves or didn‟t want to expand. Second or third time expanders were much more interested they knew how hard it really is!
  13. 13. Canvas #3 - GoGlobal Value Proposition Customer Relationships Customer Segments Help companies support their services in other languages and timezones GET: Direct salesforce SaaS companies that have already expanded somewhat and need help getting to more markets Translating their websites professionally Gain: Helping companies enter new markets in a faster and more effective way Pain: Navigating the legal requirements to expand internationally Pain: The logistics involved in entering a new market GET: Website with lead generating content E-commerce companies that have already expanded somewhat and need help getting to more markets
  14. 14. Canvas #1 - ExpertsOnDemand Key Partners VCs who can recommend us US Lawyers - after legal work, recommend us to their clients Local network of experts in other markets
  15. 15. GoGlobal What We Thought: Weren’t sure whether SaaS or Ecommerce was a better customer segment. Lawyers and VCs would be good partners, and a channel to get clients. Direct sales would be our main channel, and the web would not work for this type of high-value product. Weren’t sure which countries to focus on and which direction (US -> other or other -> US?) What We Learned:
  16. 16. GoGlobal What We Thought: What We Learned: Weren’t sure whether SaaS or Ecommerce was a better customer segment. E-commerce companies were much more interested, as they faced far more challenges Lawyers and VCs would be good partners, and a channel to get clients. Direct sales would be our main channel, and the web would not work for this type of high-value product. Weren’t sure which countries to focus on and which direction (US -> other or other -> US?)
  17. 17. GoGlobal What We Thought: What We Learned: Weren’t sure whether SaaS or Ecommerce was a better customer segment. E-commerce companies were much more interested, as they faced far more challenges Lawyers and VCs would be good partners, and a channel to get clients. These channels won‟t work: US Lawyers never recommend other services, and VCs were very wary to recommend services. Direct sales would be our main channel, and the web would not work for this type of high-value product. Weren’t sure which countries to focus on and which direction (US -> other or other -> US?)
  18. 18. GoGlobal What We Thought: What We Learned: Weren’t sure whether SaaS or Ecommerce was a better customer segment. E-commerce companies were much more interested, as they faced far more challenges Lawyers and VCs would be good partners, and a channel to get clients. These channels won‟t work: US Lawyers never recommend other services, and VCs were very wary to recommend services. Direct sales would be our main channel, and the web would not work for this type of high-value product. Weren’t sure which countries to focus on and which direction (US -> other or other -> US?) Web channel worked better than expected, and could be a viable channel!
  19. 19. GoGlobal What We Thought: What We Learned: Weren’t sure whether SaaS or Ecommerce was a better customer segment. E-commerce companies were much more interested, as they faced far more challenges Lawyers and VCs would be good partners, and a channel to get clients. These channels won‟t work: US Lawyers never recommend other services, and VCs were very wary to recommend services. Direct sales would be our main channel, and the web would not work for this type of high-value product. Weren’t sure which countries to focus on and which direction (US -> other or other -> US?) Web channel worked better than expected, and could be a viable channel! Better to have customers based in the US, and help expand to nearby countries - Mexico, Brazil and Canada.
  20. 20. Customers said: “I need help with researching top 5 countries we should be thinking about next” “I need help doing thorough research into the exact steps and options for expanding into our next immediate country.” Best feedback came from US series A e-Commerce companies that were looking to expand to their next 3 markets over the next 12 - 18 months. And we “signed” 2 customers - over $30k worth of contracts!
  21. 21. Canvas #3 - GoGlobal Value Proposition Customer Relationships Customer Segments Gain: Helping companies enter new markets in a faster and more effective way GET: Direct salesforce SaaS companies that have already expanded somewhat and need help getting to more markets Pain: The logistics involved in entering a new market Help researching which of their top markets to go for Help with a deep dive research in exact steps needed to expansion into next country GET: Website with lead generating content US E-commerce companies that have already expanded somewhat and need help getting to their next markets
  22. 22. Canvas #1 - ExpertsOnDemand Key Partners VCs who can recommend us US Lawyers - after legal work, recommend us to their clients Local network of experts in other markets
  23. 23. So we got out the building.. We pushed hard to pitch these 2 products to as many customers in our customer segments as possible
  24. 24. GoGlobal What We Thought: Series A US E-commerce companies that were looking to expand to their next market in the next 6 months Logistics, HR, distribution and other onthe-ground issues were valuable to our customers. We could sell 2 different products - one broad research into next 5 interesting countries and single country deep dive. Country manager head-hunting is difficult and we could add value there. What We Learned:
  25. 25. GoGlobal What We Thought: What We Learned: Series A US E-commerce companies that were looking to expand to their next market in the next 6 months A good proportion of these customers were very interested and signed or delayed until needed. Logistics, HR, distribution and other onthe-ground issues were valuable to our customers. We could sell 2 different products - one broad research into next 5 interesting countries and single country deep dive. Country manager head-hunting is difficult and we could add value there.
  26. 26. GoGlobal What We Thought: What We Learned: Series A US E-commerce companies that were looking to expand to their next market in the next 6 months A good proportion of these customers were very interested and signed or delayed until needed. Logistics, HR, distribution and other onthe-ground issues were valuable to our customers. These issues resonated with most of the above customers we talked to We could sell 2 different products - one broad research into next 5 interesting countries and single country deep dive. Country manager head-hunting is difficult and we could add value there.
  27. 27. GoGlobal What We Thought: What We Learned: Series A US E-commerce companies that were looking to expand to their next market in the next 6 months A good proportion of these customers were very interested and signed or delayed until needed. Logistics, HR, distribution and other onthe-ground issues were valuable to our customers. These issues resonated with most of the above customers we talked to We could sell 2 different products - one broad research into next 5 interesting countries and single country deep dive. Country manager head-hunting is difficult and we could add value there. Most of the customers issues could be grouped into these two products/services.
  28. 28. GoGlobal What We Thought: What We Learned: Series A US E-commerce companies that were looking to expand to their next market in the next 6 months A good proportion of these customers were very interested and signed or delayed until needed. Logistics, HR, distribution and other onthe-ground issues were valuable to our customers. These issues resonated with most of the above customers we talked to We could sell 2 different products - one broad research into next 5 interesting countries and single country deep dive. Country manager head-hunting is difficult and we could add value there. Most of the customers issues could be grouped into these two products/services. This is one the major pain points for expansion.
  29. 29. Canvas #3 - GoGlobal Value Proposition Customer Relationships Customer Segments Gain: Helping companies enter new markets in a faster and more effective way GET: Direct salesforce SaaS companies that have already expanded somewhat and need help getting to more markets Pain: The logistics involved in entering a new market Help researching which of their top markets to go for Help with a deep dive research in exact steps needed to expansion into next country GET: Website with lead generating content Series A US E-commerce companies that have already expanded somewhat and need help getting to Mexico and Canada.
  30. 30. So we had found a product/market fit, but was it the best one? We’ll get back to this later.
  31. 31. Diagrams and Key Metrics
  32. 32. http://GetGlobal.co Total Visits: 100 CPC: $2 Warm Lead CAC: $30-$50
  33. 33. http://GetGlobal.co Most Clicked: Logistics & Entry Guides
  34. 34. http://GetGlobal.co Country Guides as lead generators - start the conversion with customers
  35. 35. http://GetGlobal.co Improved Conversion - lowered the barrier to contacting us
  36. 36. Diagram of Partners & Payment Flows Activity Payment Manage providers GoGlobal Customer Management fee 10K - 30K 10%-15% of initial engagement Contact/Manage Service Providers
  37. 37. Customer Relationships GoGlobal actions Pass / Fail Metrics ● Direct Sales to: ○ E-Commerce companies ● Direct salesperson gets 1 commitments / month ● Web channel - AdWords, SEM ● ● Referral relationships with service providers CPA through Adwords > Guide Price (~$400 $20 / email assuming 5% conversion) ● Serve as intermediary between service providers and client ● Upsell additional services, e.g. recruiting, sales rebranding / marketing consultations ● Brand buildup through PR, usecase testimonials ● ● ● Enter new markets with current customers 30% of clients sign monthly retainer 90% sign up for and stay on [monthly] newsletter ● Live site analytics on services clickthru ● Customers stay on for 2nd market
  38. 38. Customer Personas / Archetypes + User: 1 Influencer: 2 Recommender: 3 Title: New Market “Launcher” Age / Sex: Late 20s, Early 30s / M No 30s / M n/a n/a 30s – 40s / M,F MBA or Serial Entrepreneur? Yes $100K-200K $200K+ $500K+ $500K+ equity Discretionary budget? Income: Experienced Market Entrants 4 Decision Maker and Economic Buyer: How to buy GoGlobal? Pitch CEO Rec. to “launcher”, VC, or CEO Motivation: P&L, impress CEO Build professional network, be “plugged-in”, consult Venture Capitalist Late 30s, Early 40s / M Rec. / persuade CEO Increase $$$ for company CEO Decide, in line with company strategy Increase $$$ for company, become global CEO
  39. 39. Why Mexico? Big, Growing, and Underpenetrated SOURCES: Gartner, Leading Latin American Offshore Services Locations, 2014: Country-Level Improvements Increase the Region's Attractiveness for Global Delivery; eMarketer January 2013; JLL - eCommerce Boom Triggers transformation in Retail Logistics;
  40. 40. Initial Market Size Initial market size per year a function of: ● # of Series A deals: 830 ● Total Globalization spend: $200K ● % of Series A Companies expanding internationally: 25% ● % of Series A Spend in 1st market: 10% Source:http://techcrunch.com/2013/04/10/vcs-invested-6-9b-in-841-deals-in-q1-2013-funding-up-17-percent-deal-activity-highest-since-dot-comdays/;http://techcrunch.com/2013/04/10/vcs-invested-6-9b-in-841-deals-in-q1-2013-funding-up-17-percent-deal-activity-highest-since-dot-comdays/;http://www.cbinsights.com/blog/trends/venture-capital-2013-q1
  41. 41. Competitors Large Consultancies / Market Research ProMexico / American Consulate Services “point you in the right direction” Internal company resources GoGlobal Current Lawyers/VCs JapanEntry The key to GoGlobal success will be finding the right company at the „right time‟ in their expansion efforts Mexican Lawyers Existing company professional resources Accountants, Tax, N otary, etc... end-to-end expansion consultants
  42. 42. Metrics that Matter fact kinda guess CPA to get email - warm lead: ~ $50 Average initial purchase size: $10k - $40k* Average lead time from first contact to sale: 1 - 2 months Conversion to paying for basic entry guide : 25% Conversion from basic entry guides to full paying customer: 10% Yearly sales needed per salesperson: - Assuming average revenue of $30K per customer - Assuming salesperson earning $10K per month - Salesperson would need at least 4 sales per year to break their own cost Content creation cost for market analysis: 100 hours - ~$10 000, cost for helping a client evaluate and execute a new market and should decrease over time Average # of countries per client: 3 Average LTV of a client: Too early to know
  43. 43. Investment Readiness Level 5 But….
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×