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Steven Wardell, Presentation to MIT Enterprise Forum, Go To Market Strategy 2013-11-18

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On November 18, 2013, Steven Wardell, VP of Marketing at Activate Networks gave a 3-hour presentation and workshop to the MIT Enterprise Forum on The Art of Developing Your Go To Market Strategy to an audience of technology entrepreneurs at the Tang Center at MIT in Cambridge.

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Steven Wardell, Presentation to MIT Enterprise Forum, Go To Market Strategy 2013-11-18

  1. 1. The Art of Developing Your Go-To-Market Strategy Steven Wardell, VP Marketing @StevenWardell Presentation to MIT Enterprise Forum at MIT Tang Center, 18 Nov. 2013 617.558.0210 | info@activatenetworks.net | www.activatenetworks.net 1 Newton Executive Park, Suite 100 | Newton, MA 02462
  2. 2. About Steven Wardell • Entrepreneurial Background ― Employee 8 of eYak, next-gen VOIP company, raised $74m and sold to Sonexis ― Co-founder of Artisan Pharma, a phase 3 biotech start-up, raised $40m and sold to Asahi Kasei Pharma ― Founding management team of Activate Networks, big-data social network analytics, raised $15m, in growth phase ― Prior: Citigroup and Microsoft © 2013 Activate Networks 2
  3. 3. Overview • Desired outcome of this meeting – know that you could apply a GTM Strategy framework to your product and present the result to an investor • More a discussion than a lecture; volunteers to work through their own Go-To-Market (GTM) Strategy • Assume you’re all entrepreneurs; discuss entrepreneurial constraints (lack of time, budget, data) © 2013 Activate Networks 3
  4. 4. Definition • A Go-To-Market Strategy (GTM Strategy) is an action plan that specifies how a company will reach customers and achieve competitive advantage. Typically covers Whom, What, How much, How Promote, Where Promote • The term is often associated with product launches, but it can also be used to describe the specific steps a company needs to take in order to guide customer interactions for existing products. © 2013 Activate Networks 4
  5. 5. OTC Drug • Target: Older consumers (mass market) • Product: Aspirin that is gentle on your stomach • Price: Same as market leader (Bayer aspirin) • Promote: TV ads on prime time network TV and shelf promotion at point of sale • Channel: supermarket chains; drug store chains • USP: gentler on your stomach than aspirin © 2013 Activate Networks 5
  6. 6. Premium flowers • Target: flower lovers (upper middle class, women) • Product: premium decorative flowers that last longer • Price: competitive with store-bought, if you subscribe for a year • Promote: direct mail, direct email, infomercials, specialty magazines • Channel: direct (and delivery by mail) • USP: higher quality and last longer than anyone else © 2013 Activate Networks 6
  7. 7. Safety razors • Target: young to early-middle-age men • Product: razors / razor blades • Price: discount, subscription purchase only • Promote: search engine optimization, search engine marketing, online display ads, viral videos • Channel: direct (and delivery by mail) • USP: hip, discount, never run out of blades © 2013 Activate Networks 7
  8. 8. Groceries • Target: middle class households, major metro areas • Product: groceries • Price: full / competitive price • Promote: search engine optimization, search engine marketing, online display ads, billboards, ads on trucks • Channel: direct and with partners (Stop & Shop in Boston) • USP: Fill shopping cart on iPad, delivered to your home © 2013 Activate Networks 8
  9. 9. Premium Cable TV Channel • Target: 20-45-year-old taste leading urban consumers (mostly men) • Product: cable TV channel (including edgy new movies that feature actual movie stars) • Price: premium extra cost among cable channels • Promote: urban billboards (and other display), urban magazines, self promotion on cable • Channel: through cable providers like Comcast • USP: new, proprietary movies with actual movie stars © 2013 Activate Networks 9
  10. 10. Hardware component • Target: consumers of digital devices • Product: unique screen technology (for devices) • Price: competitive with existing options • Promote: co-promotion with device manufacturers • Channel: product is not stand-alone; sell through device manufacturers • USP: draws little power, visible in strong sunlight © 2013 Activate Networks 10
  11. 11. Market Analysis Market Analysis Go To Market Strategy © 2013 Activate Networks 11
  12. 12. Market Analysis • Product Overview • Who would be interested in this solution? • Users and their Current Problem • Market Research • Competitors, Competitive Landscape, SWOT • Product Positioning • Unique Selling Propositions © 2013 Activate Networks 12
  13. 13. Product Positioning 1. 2. 3. 4. Who do we want to sell to (target)? What are we selling (benefit)? Why should they believe us (reason to believe)? What is the feeling that the brand evokes (brand DNA)? 5. Example: Activate Networks Retention Connect Solution © 2013 Activate Networks 13
  14. 14. Product Overview / Description E.g., IBM® Sterling B2B Integrator enables the security-rich integration of complex B2B processes with diverse partner communities. It provides a single, flexible B2B gateway that enables companies to meet a wide range of B2B integration needs. IBM Sterling B2B Integrator can improve business processes beyond enterprise boundaries and increase visibility into and across supply and demand chains. © 2013 Activate Networks 14
  15. 15. Current Problem of Potential Users ? Identify Current Problems faced by Potential Users that the Product/Solution is expected to address E.g., Users of thick-client office productivity software typically have problems accessing the same documents together at the same time. Cloud-based office productivity applications finally allow users to access the same documents at the same time © 2013 Activate Networks 15
  16. 16. Pricing: HBS Value Thermometer A. Objective value i. B. Perceived value i. ii. iii. C. $90 (buyer would be willing to pay up to $90 cash upfront for opportunity to save $100) Marketing & Sales can drive up the perceived value Substitutes also affect perceived value Product price i. D. $100 (seller calculates that it saves 4 hrs labor at $25/hr) $80 (seller prices close to perceived value; buyer is getting a deal!) Cost of goods sold i. $40 © 2013 Activate Networks 16
  17. 17. Pricing: Solution Selling For custom engagements – identify pain points, track the pain throughout the organization, calculate total $ cost of pain, show value of solution, and price solution © 2013 Activate Networks 17
  18. 18. Sustainable Competitive Advantage Identify Tangible Advantages - IPs and Patents, etc. Intangible Advantages - First in business to offer a certain feature, cost advantage, etc. © 2013 Activate Networks 18
  19. 19. Market Analysis Market Analysis Go To Market Strategy © 2013 Activate Networks 19
  20. 20. Go-To-Market Strategy • End Goal in a Year; Metrics and Measurement • Strategy ― Whom to target in the market (regions, segments, industries, budgets, personas)? ― What product portfolio offered to target customers? ― How much will we charge for our products for different customers? ― How will we promote our products to target customers (inbound marketing; direct, field-based sales force; sales channel partner)? ― Where will we promote and sell our products to target customers (trade shows, website, trade journals, email, mobile ads)? • Identify specific programs and prioritize by cost and impact © 2013 Activate Networks 20
  21. 21. Exercise – Go-To-Market Strategy Your Startup Whom do we target? What is our product? How much to charge? How to promote? Where to promote? © 2013 Activate Networks 21
  22. 22. Thank You ! Steven Wardell, VP Marketing @StevenWardell Feel free to use and repurpose this template for your needs Hat tip to @RajivNetra for original template 617.558.0210 | info@activatenetworks.net | www.activatenetworks.net 1 Newton Executive Park, Suite 100 | Newton, MA 02462
  23. 23. Appendix © 2013 Activate Networks 23
  24. 24. Who would be interested in this Product / Solution ? Small, Medium, and Large Enterprises? Industry, business unit, job title, buyer persona? © 2013 Activate Networks 24
  25. 25. Market Research Identify the overall market size for product/solution, market segmentation, user base, price and pricing comparables, growth trends, etc. E.g., Oracle CRM market potential is Oracle existing customer base; market sizing provided by market research and equity-research analysts; market size for new product categories may be unknowable © 2013 Activate Networks 25
  26. 26. Competition Identify Direct Competition and Indirect Competition; SWOT analysis © 2013 Activate Networks 26
  27. 27. Product Positioning Positioning is key. Describe how product can be positioned and some of the advantages it has in terms of positioning. “Positioning is also the first body of thought that comes to grips with the problems of getting heard in our overcommunicated society.“ – Ries & Trout © 2013 Activate Networks 27
  28. 28. Competition: Key Differentiators Identify the competing products / solutions with description. List how your product is differentiated from them. Products Product Description Your Product Differentiators © 2013 Activate Networks 28
  29. 29. End Goal in a Year Target in volume and revenue © 2013 Activate Networks 29
  30. 30. Whom to Sell to? Regions - Segments – Industries – Etc. © 2013 Activate Networks 30
  31. 31. Marketing Strategies Identify and Detail your Marketing Strategies with clear Timelines – When to start and How long to execute them? Prioritize the Marketing Strategies based on their impact and budget © 2013 Activate Networks 31
  32. 32. Partnership Strategies What sort of Partners to tie up for GTM ? What unique benefits do they bring ? © 2013 Activate Networks 32
  33. 33. Pricing Strategies Study the competition and market, and identify some unique pricing models that will entice and hook the customers. © 2013 Activate Networks 33
  34. 34. Metrics and Measurement Measure the marketing impact and reach with metrics. Identify the ROI. Refine the strategy. © 2013 Activate Networks 34
  35. 35. Channel Partnership Strategies Going the Channel Partner route? List strategies for Choosing the right Partners, Supporting Channel Partners, Making them work, etc. © 2013 Activate Networks 35

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