Startups Need a Go To Market Plan once they are ready to launch. This shares a 5 step process to make that for any type of startup.
Youtube link for video session on these slides - https://www.youtube.com/watch?v=vZLgCeDflF4
1. Building a Go To
Market Plan
Ravi Trivedi
Former Founder, PushEngage, CouponRani
Twitter: @trivediravi
2. My Background
Venture Investor [US]
Equity Analyst [US]
Customer Acquisition [US]
Online Division [US]
Startups, Investment, Technology
Angel Investments
Digital Marketing
Coupon Site [India, Malaysia, Singapore]
Software
Developer,
Pre Sales
Engage Users With Browser Push Notifications
Build Startups, Holding Company
3. 5 Steps to Make Your
Marketing or Go To
Market Plan
4. 1. What Business/Market Are you in?
• What Business/Market you are in ?
• Is it New Market or Existing?
• What is the specific problem you are solving
• What is the frequency of purchase
• Product/Market Fit question
• Sounds simple – but it is a very nuanced question.
• Let’s take an example - Freshdesk
5. 2. Find your Ideal/Target Customer Profile
• Whose problem are you solving?
• What is the ideal customer profile(ICP)? How to find
that out?
Do you build for ICP, or build first then find ICP?
• Who will pay for, and who are you Marketing to?
Is It Targeted Enough?
• Is your market large, but still targeted?
• The more focused your target market, the lower the
Cost Per Acquisition
6. 3. Hone Your
Messaging
• What is our Positioning?
Example – Salesforce vs Freshsales
• Create Messaging For the Target Audience
• What is our unique value proposition
Broad messaging has poor conversion
• Why is Messaging Important ?
Bounce Rate. Good benchmark
• OK to ignore a set of audience, as long as
you reach target audience.
• Don’t create messaging YOU want, create
messaging for what the customers CARE
about.
8. What is the Good/Bad & Ugly for this page?
Landing Page/Home Page Example 2
9. 4. Pick Top 3
Marketing
Tactics for
your Ideal
Customer
Profile
• List all the places where your target
customers are
Use Tools to analyze competitors dominant
acquisition strategy
• Analyze the 3 Tactics/Channel With
Highest Expected ROI & Volume
Use keyword and other research to get to
expected Volume/ROI.
Measure ROI of channels. Remove Channels
that don’t perform
Channel Volume [Clicks] ROI
Adwords 10,000 15%
Email 5,000 25%
11. 5. Ongoing Measure & Optimize
• Measure Each Channel Cost of Lead, Cost of Acquisition
• Funnel Analysis for channel/flow
What is the Funnel for your Business?
What are the benchmarks for your industry
conversion
Lead Gen – Benchmark
Registration Rate
Conversion on Ecommerce
SAAS : Free to Paid Conversion Rate
• Have you Set Up Enable Event/Goal Tracking in GA
Micro-conversions Are Valuable too
Whitepaper download, Video watch, Newsletter Subscriber
How much value should I assign to each conversion
Visitors
Add to
Cart
Checkout
12. GTM Bird’s eye view
1. Define What is Your Business/Market
2. Define Your Ideal Customer Profile
3. Hone your messaging & share your differentiator
4. Find where your ideal customers hangout & make a plan to reach
them in those places
5. Run Campaigns, Test & Optimize
13. Workshop
• Tell me the Startup/Company/Website you run/manage
• Let us make a Quick GTM plan for your online business