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Go-to-Market Customer Segmentation
1. The document discusses customer segmentation and target selection for go-to-market strategies. It emphasizes focusing on specific customer segments rather than trying to be for everyone. 2. Key concepts covered include customer segmentation, target segment selection, and customer personas. It recommends selecting low-hanging fruit segments that are in most need of the solution and have few barriers to entry. 3. An example target segment discussed is SaaS startups with at least two remote customer support team members. The document provides advice on how to tailor messaging, pricing, product roadmap, and marketing for a specific target segment.
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- 2. No Matter WhatThe Project… Instratify @AshleyKGreene There’s an incredibly dangerous tendency I’ve dealt with: Trying to be something for everyone.
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- 4. A Few High-LevelConcepts... Instratify @AshleyKGreene Customer Segmentation Strategically grouping your customers by at least 1 common factor.
- 5. A Few High-LevelConcepts... Instratify @AshleyKGreene Target Segment Selection Choosing which customer segment you should focus your efforts on. Hint: As you go-to market, you’ll want to select the low-hanging fruit.
- 6. A Few High-LevelConcepts... Instratify @AshleyKGreene Customer Personas Gives you the necessary context to sell, build, and market more effectively. You're selling to HUMANS after all...
- 7. What Drink Would YouBe More Likely To Buy? Instratify @AshleyKGreene
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- 9. The drink forstartup founders when they need energy, inspiration, and luck.
- 10. Because Who YouTarget Determines: Instratify @AshleyKGreene Messaging Business Model Product Roadmap Pricing Marketing Channels Sales Structure
- 11. For every incrementof focus, your effectiveness increases by 10x. Instratify @AshleyKGreene
- 12. Instratify @AshleyKGreene 1. Themore segments you target, the more resources you need to be effective; AND 2. The broader those target segments are, the more resources you need.
- 13. BY DEFINITI0N... Instratify @AshleyKGreene Startupsare severely resource constrained.
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- 15. Instratify @AshleyKGreene "Focus meanssaying no to highly attractive opportunities that may be knocking on your door... You will win by having a product that is over the bar for one sub-segment, and well targeted focused messaging that resonates clearly with that segment." David Skok, VC, Investor in Hubspot
- 16. Harvard Ivy League, then Boston Schools AllU.S. Colleges (Top 20 1st), then All U.S. High Schools International Colleges + High Schools Select Markets: U.K., etc Any individual with an email address Businesses Example: Facebook's Add & Stack Targeting
- 17. Instratify @AshleyKGreene SMBs Weak Go-toMarket Target Segment?
- 18. Instratify @AshleyKGreene SaaS startupswith at least 2 remote support team members. A bit better.
- 19. Instratify @AshleyKGreene Using thelatter... Messaging: Can highlight the key benefit(s) related to remote customer support teams in SaaS startups. Pricing: Could price on team members, number of tickets, flat-fee Product Roadmap: Prioritize features that make handing-off support between team members easier. Marketing channels: Inbound, SEO, Sharing
- 20. Instratify @AshleyKGreene If thiswas easy, everyone would have their own billion-dollar unicorn.
- 21. Instratify @AshleyKGreene Total AddressableMarket (TAM): Who could ever get value out of your product? Serviceable Available Market (SAM): Who can you realistically serve with your product? Share of Market (SOM): What segment of SAM can you serve best right now?
- 22. Case Study: Square’sTAM, SAM, SOM at Go-to Market TAM: Anyone who sells things. SAM: Any person that accepts credit cards for payment. SOM: Tech-savvy merchants in the Bay area. Source: First Round Review
- 23. Instratify @AshleyKGreene You'll WantTo Think About... Which segment is the lowest-hanging fruit? Who’s pants are on fire? Who is already showing love for your product? Who can get the most value from your product as it stands today?
- 24. Instratify @AshleyKGreene Ideal Go-ToMarket Target Segments... 1. Are low-hanging fruit. 2. Have low barriers to entry. 3. Have the possibility of compounding returns.
- 25. Instratify @AshleyKGreene Low-Hanging Fruit Feelthe pain your solution solves tremendously. Has resources to buy. Will get enough value from your product as it stands today. MOST LIKELY TO BUY FROM YOU.
- 26. Instratify @AshleyKGreene Low BarriersTo Entry Easy to reach. No monopolies. Not heavily regulated. Cost-of-acquisition is reasonable.
- 27. Instratify @AshleyKGreene Compounding Returns Highlyinfluential. Evangelical. Make great case studies for future segments. Help spread product awareness.