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ABOUT THE CLASS This class will walk you through the steps for creating a go-to-market plan of action, exploring the key elements of a go to market strategy: scope, scale and budget. How do you stay prioritized and stay focused? Determine what needs to go into an MVP and learn how to create pricing models and time to revenue scenarios. Learn the importance of iterating and how to constantly work to better serve your customers. Explore quantifying the market need - what is available vs. what is addressable. THE TAKEAWAYS To obtain an understanding of current customer perceptions, behaviors and needs. To provide structure behind creating a brand value proposition. To identify target customers and product or services portfolio for each target customer. To establish strategies for promoting and selling your products or services to target customers. To discuss and demonstrate the importance of MVP (minimum viable product) and the importance for getting to market with a product and then refining it. To understand the difference between nice-to-have and have-to-have. ABOUT THE INSTRUCTOR, Dana Brown Dana Brown is the Founder and CEO at The Octane Group, a management consulting firm dedicated to helping businesses maximize their performance. With a 20-year technology industry career, Dana has an expertise in corporate and product strategy, marketing, mergers and acquisitions, and investor relations. Prior to founding The Octane Group, Dana served as Chief Marketing & Business Development Officer for Ignite Technologies, leading the efforts in market strategy, branding, product positioning and messaging, and strategic alliances. She has also served as President and Chief Executive Officer at Ipsum Networks, a privately held company that developed route analytics solutions to optimize IP traffic within corporate enterprise and telecommunications networks. Dana led Ipsum to be positioned as Cisco’s preferred partner for routing analytics. PRESENTED BY, The Dallas Entrepreneur Center The Dallas Entrepreneur Center (DEC) is an entrepreneurial support system dedicated to bringing together the resources, support and opportunities that Dallas-area entrepreneurs need to start, build and grow their businesses. Launched in 2013, the DEC connects entrepreneurs, corporations, investors, educators and other business and community leaders in order to advance the economic interests of the Dallas community. Learn more at thedec.co.
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G O T O M A R K E TT H E S T R A T E G Y A N D E X E C U T I O N O F T A K I N G A P R O D U C T O R
S E R V I C E I N T O T H E M A R K E T P L A C E
Hi, I’m Dana Brown
• General Partner at the Octane Group• Social Innovation Fund Co-Chair for United Way of Metropolitan Dallas• 20-year technology industry career• Expertise in corporate and product strategy, marketing, mergers,
acquisitions, and investor relations
Go To Market Plan Outline
• Defining the product, value prop, and customers• Pricing and Costs• Value Proposition• Reaching Customers• Selling• Sta!• Infrastructure
Defining the product and customers
• What is the product or service?• What are the target markets?• Who are potential buyers?• Why would someone buy this?• How can a customer be developed into a repeat buyer?
Exercise #1: Customer Definition
• Use Case: Define a series of key benefits for a to be developed product that solves the pain of individuals who want to sell co!ee beans online.
• Define the customer, target market/group, and why they should buy.
Pricing and Costs
• How will your product be priced?• How many models/price points?• ROI for customers by model/service• Time to initial revenue/sales cycle• Delivery timeline/costs• Go To Market Costs
Exercise #2: Pricing/Costs
• Using basic assumptions, define a cost model for manufacturing, storing, marketing, and delivering co!ee beans through on an online channel.
• Based on these assumptions, discuss price points for your product to ensure profitability.
Value Proposition
• List and describe decisions for customers• Define ROI for customers• Define guarantees
Exercise #3: Value Proposition
• Define the key benefits of your co!ee beans and why a customer should buy online versus through existing channels.
Reaching Customers
• Define communications channels• Define messaging/call to action• Create a pipeline of potential customers• Define success (metrics)
Exercise #4: Reaching Customers
• Discuss what channels of communications would you use to reach your pre defined customer base? What messaging would call them to action?
• Define what a successful ‘reach’ would be for this product.
Selling
• Lay out 2-3 key channels• Define sales cycle• Engage customers with trials, up sells, and cross sells
Exercise #5: Selling
• What are the 2-3 primary sales channels for this product (think online only for this product). Which channels would you use on your own business?
• What is a realistic sales cycle for this? How would it di!er for each of your own products/services?
Staff
• Develop sales sta! model by outlining sales cycle, hit rate, commission structure, etc.
• Create org chart to support sales sta! (managers, customer service, delivery of solution, etc.)
• Identify a plan for hiring, maintaining, and growing a sta!
Exercise #6: Staff
• Describe the size and skills of a sales sta! for the co!ee bean business? How would your business needs di!er?
Infrastructure
• Determine internal processes• Evaluate and purchase CRM, sales delivery, and other necessary
software tools• Create plan of action to support/manage sales sta! based on
metrics and key performance indicators
Exercise #7: Infrastructure
• Discuss software infrastructure needs for launching, selling, maintaining this product online.
Other Go To Market Plan Considerations
• Elevator Pitch• Customer/Market Segmentation• Revenue Forecasts• Marketing Budget• Training Plan and Job Descriptions
Q & A
