This document provides guidance on developing a go-to-market strategy for a startup. It discusses establishing a business point of view, defining the target market through demographics and psychographics, analyzing competition, and creating competitive advantages. It also covers developing marketing channels, metrics to test like acquisition, activation, retention and referral, and creating a pre-launch marketing plan including building a splash page and testing with beta users. The document emphasizes choosing a niche, setting goals and budgets, testing ideas, leveraging user referrals, targeting influencers, and adapting strategies based on what works.

1. Defining Your Market &
Your Go To Market Strategy
Startup BootCamp - Day 2

2. Agenda
10:00 - 10:30: Presentation
10:30 - 11:30: Activity 1
11:30 - 12:00: Presentation
12:00 - 13:00: Activity 2

3. Tips from an Entrepreneur
1. GET STUFF DONE!!
2. Work with other entrepreneurs to pool resources.
3. Network like crazy.
4. Surround yourself with optimists.
5. Find a mentor who has launched a business.
6. Don't give up!

4. After 10 Years of Trying...
Cinemagr.am

5. What We'll Cover in This Workshop
1. Establishing your business' Point of View
2. Defining your Target market
3. Identifying your Competition
4. Creating Competitive advantage
5. Market sizing, metrics
6. Developing a go-to-market plan

6. Business Point of View
● Establish a Point of View. What makes your business
unique?
● The better you know yourself the better relationship
you can have with your customers.
● Ask yourself why you are in business in the first
place. Why THIS business? Why THIS product?
Know who you are as a business BEFORE you start
putting it out there.

7. Create Your Company's Brand
Your brand is:
● The name
● Logo
● Slogan
● Design
of your company
Allows your company to be immediately identifiable to your
target market.

8. Marketing Strategy
● Use your Point of View to guide your
marketing strategy
● Use a mixture of marketing methods.
● Kickstart your marketing before you launch
your product/service.

9. Defining Your Market
● Targeting a specific market does not mean
that you have to exclude people
● Allows you to focus your marketing dollars,
brand message
● Helps you define if you are on the right track
or not.

10. Defining Your Market
1. Check Out Your Competition
Who are your competitors targeting? Who are their
current customers?
=>Find a niche market that they are overlooking.
2. Analyze Your Product/Service
● List each feature of your product or service.
● Next to each feature, list the benefits they provide (and
the benefits of those benefits).
● List of people who have a need that your benefit fulfills.

11. Defining Your Market
3. Choose Specific Demographics to Target
Figure out not only who has a need for your product or
service, but also who is most likely to buy it.
Think about the following factors:
● Age
● Location
● Gender
● Income level
● Education level
● Marital or family status
● Occupation

12. Defining Your Market
Consider the Psychographics of Your Target
Psychographics are more personal characteristics of a
person, including:
● Personality
● Attitudes
● Values
● Interests/hobbies
● Lifestyles
● Behavior
How does your product fit into your target's lifestyle?

13. Defining Your Market
● Are there enough people that fit my criteria?
● Will my target really benefit from my product/service?
● Will they see a need for it?
● Do I understand what drives my target to make
decisions?
● Can they afford my product/service?
● Can I reach them with my message? Are they easily
accessible?
Remember, you can have more than one niche market.

15. Test the Market!
● Talk to potential customers
● Product testing
● Market testing
● Focus groups
● In-store test

16. Market Sizing Example
Online Takeout Orders
Top Down
● 511B spent on dining out annually
Bottom Up
● 100M people eat out everyday
● Approx 4% of meals are ordered online.
● In 5 years 20% of meals are ordered online.
● Avg takeout order cost is $12.
● Total market size today: 50M daily, 20B annually
● In Future: 250M daily, 100B annually

17. Competitive Analysis
● What other options does the target market
have to satisfy those benefits?
○ At what price / performance points?
○ Consider direct and indirect (substitute)
competition
● What is distinctive about what you have to
offer?

18. SWOT Analysis
● Identify your Strengths, Weaknesses,
Opportunities, Threats.
● Identify your competition's Strengths,
Weaknesses, Opportunities, Threats.

19. Activity - Part 1
1. Identify your business' Point of View.
2. Identify your target market and market size.
3. Identify 2-3 competitors.
4. Define how you are different from your
competition.

20. Marketing Channels
Online
Offline

21. Marketing Metrics
Which of these is best - How do you know
● 1,000,000 one-time unregistered unique visitors
● 500,000 visitors who view 2+ pages, stay 10+ sec
● 200,000 visitors who clicked on a link or button
● 20,000 registered users with email address
● 2000 passionate fans who refer 5+ users per month
● 1000 monthly subscribers at $5 per month.

22. Marketing Metrics
Acquisition: Users come to site from various channels
Activations: Users enjoy 1st visit: happy experience
Retention: Users come back, visit site multiple times
Referral: Users like product enough to refer others
Revenue: Users conduct some monetization behaviour

23. Marketing Metrics
Acquisition:
● Social networks, blogs, SEM, SEO, Campaigns,
Contests, Direct (TV, Tel), biz dev.
Retention:
● Emails and Alerts, time-based features, Blogs, News
feeds

24. Marketing Metrics
Activation:
● Homepage, Product Features, Subscriptions, Ads
Referral:
● Viral, emails, affiliates, contents.

25. Testable Conversion Metrics
Define 1-5 testable conversion metrics of value
● Usage (session time, clicks)
● Customer Data (email, profile)
● Revenue (direct, indirect)
● Retention (visits over time)
● Referral (users evangelize to other users)

26. Go To Market Strategy

27. Pre-Launch Marketing
Build a Splash Page
● Include a device image, some branding relevant to the
app, very basic details about the app’s functionality and
social media links.
● Creating a newsletter sign-up form gives people the
opportunity to stay updated.

28. Pre-Launch Marketing
Do a Sneak Peek
Dribbble, Forrst, Ember. These sites are specifically built to
share sneak peeks of works in progress. Represent free
places to get extremely high quality feedback from the best
in the business.
Create a Teaser Video
Showcase the key features and include
some upbeat background music or
interesting narrative. Remember, what you
want to highlight is the promise of the app.

29. Pre-Launch Marketing
Rally Beta Testers
Working with beta testers is one of the best examples of
how marketing helps development and vice versa.
Share Promo Codes With Key Contacts
If an app is approved but not yet released, promo codes
are often available.
Allows you to get your app into the hands of key contacts
(press, influencers, friendlies, etc.), even if it’s not publicly
available.

30. Startup Marketing
1. Choose a niche market.
● A niche helps you fully understand the pain points of
your target customer and market directly to them.
● Focus and perfect with a smaller group first, expand
when you’re ready.
2. Set a goal.
Amount of revenue you’ll need to self-fund the business.
Number of users or customers.
3. Set a budget.
Set a marketing budget to reach your goal.

31. Startup Marketing
4. Assume a conversion rate.
If you reached out to 100 potential customers, how many
will actually convert into paying customers? Make a smart
assumption.
5. Brainstorm ideas.
Where do your potential customers congregate? Think of
ways and places you can reach your audience with the
highest ratio of potential customers. This can be both online
and offline. Think blogs, trade shows, Facebook, meet-ups,
etc.

32. Startup Marketing
6.Test and execute.
Online pet supply store.
Niche Market: Sell dog beds to dog owners in New York.
Goal: Sell 100 dog beds and use those profits to expand.
Budget: $5,000.
Assumption: 100 potential customers, only one will
purchase, a 1% conversion rate.
Brainstorm Ideas: You've come up with a list of ideas of
how to reach 10,000 dog owners in NY for $5,000.
=>Allocate a small piece of your budget to test your
most viable ideas.

33. Startup Marketing
7. Give users a compelling way to spread the word.
Word-of-mouth marketing can be huge for a start-up. You’
re able to interact with your target customers on a more
personal level than big companies. Take advantage of
social media!
8. Make it exclusive.
People like being a part of something new and exclusive.
Limit your invites to the right early adopters that will
become advocates of your brand and help you improve
your product along the way.

34. Startup Marketing
9. Target the influencers.
Identify thought leaders in your niche and regularly interact
with these people whenever possible.
Goal is to get them to try and like your product, so they can
spread it to their large networks. Don’t forget bloggers and
journalists.

35. Startup Marketing
● Marketing your startup is all about adapting.
● Some of things you try will fail.
● Learning from your mistakes and changing
your strategy will be a key factor in your
success.

36. Activity - Part 2
1. Draft a Go-to-Market Plan to include:
-Which marketing channels you will use.
-Which metrics you will test
-Cost estimates.
-Timeline