Go-to-market strategy, positioning and viral growth
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Presentation during entrepreneurship week at Luleå University, Sweden on go to market strategies, positioning and viral growth. Examples and learnings from Wrapp, Clue and other startups.
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Go-to-market strategy, positioning and viral growth
- 1. Go-to-market strategy, positioning and viral growth Luleå November 12, 2015 Lisa Enckell, @enckelli
- 2. govote.at Use the code 57 47 99
- 4. Positioning
- 5. “The act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s mind” Positioning
- 6. Who is it for (target audience)? What is it (category)? What does it offer (benefits)? Positioning
- 8. Target audience Pick your “Katie”
- 9. Category
- 10. Why is the category important? – Determines when our product gets considered – Defines the competition – Shapes expectations – Guides evaluation
- 11. The period tracker Clue
- 12. Create a new category
- 13. Who are the competitors?
- 14. POPs and PODs Points of parity Points of difference
- 15. Differentiation
- 16. 1. What’s the category? 2. Pick one competitor
- 17. Write down three POPs (points of parity) govote.at 57 47 99
- 18. Write down three PODs (points of difference) govote.at 57 47 99
- 20. Situation Objectives Goals Target audience Value proposition (main benefit) Strategy Tactics Timeline Go-to-market strategy outline:
- 22. Phase 1 Invite only Phase 2 Public launch Phase 3 Growth Testers Influencers Early Adopters Early Majority Late Majority Make a plan
- 23. Example: Wrapp
- 24. Example: Wrapp Situation – Totally un-known (no brand awareness). Give away “free money”, risk of being seen as shady Objectives – Establish the category “social gifting” and become the number one Goals – 20,000 redemptions within three months
- 25. Example: Wrapp Target audience – “Katie” - loves shopping with her friends and spends a large share of her disposable income on expressing herself with clothes and accessories Value proposition – Save money and get rewarded for shopping at your favorite stores
- 26. Strategies – Ride merchant partners’ brand coattails Tactics – Co-written press releases, campaigns in retailers’ social-media and email channels Example: Wrapp
- 27. Viral growth
- 28. Sign up Share The viral loop
- 29. Sign up Share See Desire to share The viral loop
- 30. Sign up Share See Desire to share On-ramp The viral loop
- 31. Sign up Share See Desire to share On-ramp Branching factor The viral loop
- 32. Viral factor K = I・C Invites I Conversion rate C Cycle time p Given that I get a new customer today, how many new customers will they bring in over the next p days?
- 33. 0 5 10 15 20 0 50 100 150 200 K = 1.2 K = 1.1 K = 0.5 For different values of viral factor K Users Weeks
- 34. 0 5 10 15 20 0 100 200 300 400 500 p = 0.5 p = 1 p = 2 For different lengths of cycle time (K=1.1) Users Weeks
- 35. Maximize viral factor K = IC Maximize no of invites I Maximize conversion rate C Minimize cycle time p In summary:
- 36. Sign up to redeem Give gift card Receive gift card See birthday Wrapp’s viral loop
- 37. Sign up to redeem Give gift card Receive gift card See birthday Featured by retailers Every day is someone’s birthday Wrapp’s viral loop
- 45. Thank you! Luleå November 12, 2015 Lisa Enckell, @enckelli