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Harvard innovation lab :       Michael J Skok :           Startup Secrets :   Go To Market
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Hi    Harvard innovation lab
         #innovationlab              @mjskok                     #startupsecrets    www.mjskok.com




                           START UP
                           SECRETS
                             An insider’s guide to unfair competitive advantage




                                   Going To Market (GTM)




                                           MICHAEL J SKOK
                                         North Bridge Venture Partners

                                          twitter: @mjskok mjskok.com
                                                                                                     1
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                         www.mjskok.com
            #innovationlab          @mjskok            #startupsecrets




     Startup Secrets - Series
     •     Sep 11:              Perfect Pitch
     •     Oct 11:              Value Proposition
     •     Oct 16:              Company Formation
     •     Nov 13:              Business Model
     •     Dec 4:                  Go-To-Market Strategy




                                                                                            2
Harvard innovation lab :   Michael J Skok :     Startup Secrets :   Go To Market
Hi                                                                       www.mjskok.com
        #innovationlab          @mjskok              #startupsecrets




     Introductions & connections
 • Our guests:                                     • Your hosts:
     – Apperian                                       – Harvard I Lab
            • Mark Lorion @mark_lorion                  #innovationlab

     – Demandware                                     – Michael Skok @mjskok
            • Jamus Driscoll
              @jamusdriscoll
                                                      – Startup Secrets
                                                        #startupsecrets
     – Hubspot
            • Brian Halligan @bhalligan
                                                      – www.mjskok.com
     – Matrix partners                                       • http://www.mjskok.com/reso
                                                               urces/go-market
            • David Skok @bostonvc

                                                                                            3
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




                                                                                        4
Harvard innovation lab :                      Michael J Skok :      Startup Secrets :   Go To Market
Hi                                                                                            www.mjskok.com
         #innovationlab                             @mjskok               #startupsecrets




A Startup GTM Framework
 Marketing & Sales                                 Strategies                                   Audience
      Cycle                                        Tactics                  Channel

      Awareness
                                                       Brand              Direct vs.           Targeting,
                                                                           Channel            Segmentation
        Interest                                    Positioning
                             OUTbound / INboound




                                                    Messaging             Channel               Personas
     Understanding                                                      Development,
                                                       Social           Management,           Actors/Scenes
                                                       Media                Etc.
     Engagement
                                                         PR
                                                                           Strategic
         Trial                                       Services              Partners
                                                    References
       Purchase                                            •   Results Oriented, Metrics, Execution
                                                               Driven
                                                           •   Continuous Iteration & Improvement
                                                                                                               5
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        6
Harvard innovation lab :   Michael J Skok :   Startup Secrets :      Go To Market
Hi                                                                        www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




                                                                       Identity
                 Name
                                                                       system


                                 Brand
                                Essence
      Every Touch                                                 Product
         Point

                                                                                           7
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Brand
     • A science unto itself – don’t underestimate it’s
       power
         – Are you Coke or Pepsi, Apple or Dell?

     • But for starters, in startups
         –   It’s about YOU, the founders
         –   Your People
         –   Your Culture (per the Company Formation session)
         –   How you Execute
                • eg interact with your ecosystem of Customers, Partners,
                  Suppliers, Stakeholders
                                                                                         8
Harvard innovation lab :         Michael J Skok :       Startup Secrets :        Go To Market
Hi                                                                                      www.mjskok.com
         #innovationlab                @mjskok                #startupsecrets




     Brand Essence Framework
     Vision          What about the world is changing that makes us necessary?

     Promise          What do we promise to customers at the most fundamental level?



                                      Spike     unique
                                                                       What makes us distinctly
     Attributes                  Special      different &              valuable to our
                                                 better                customers? How do we
                      Standard                cost of entry            achieve over and over?


                                                       Personality                         Style
                     What does it feel
     Emotion                                     If we were a person              How would we present
                     like to engage
                                                 what would we be                 ourselves to the world?
                     with us?
                                                 like?
                                                                                                            9
Branding Demandware
Jamus Driscoll, SVP Marketing
jdriscoll@demandware.com
December 3, 2012

                        Copyright 2012 Demandware, Inc. - Confidential
The Demandware Branding Challenge

        &
      Change the
       Criteria




             Copyright 2012 Demandware, Inc. - Confidential
The Demandware Branding Challenge

From                                                      To
               &
  Control of software                                         Control of ecommerce

  The cost to install                                         The cost to stay cutting edge

  Expense                                                     Revenue driver

  For mid-size companies                                     For high-growth brands

  Our platform                                                Your Brands

  Risk                                                        Confidence

  For visionaries                                             For great marketers
                        Copyright 2012 Demandware, Inc. - Confidential
The Demandware Opportunity


   Brand/
              &
 Marketing


eCommerce



 Technology


              Features                    Benefits                 Rewards
                  Copyright 2012 Demandware, Inc. - Confidential
What It Meant
 • Demandware couldn’t differentiate on claims alone
 • Must go beyond rational and functional benefits
 • Address ambition
 • Speak the customer’s language
 • It’s not what we can do, it’s what the customer can do
 • Look and act like a marketing partner
 • Show, don’t just tell
 • Make it inspiring!



                        Copyright 2012 Demandware, Inc. - Confidential
Brand Positioning

                                    It’s not just about
                                    how the customer
                                    feels about you
                                    It’s also about how
                                    you make the
                                    customer feel about
                                    herself


                Copyright 2012 Demandware, Inc. - Confidential
Stronger brands,
           faster, more                The agility and
           profitable                  control to stay ahead
           growth
                                       and build my brand




CEO/CMO                                                 Better
                                                        economics over
   A more effective and                                 the long term
   reliable business
   platform that frees up
   resources to higher-
   value uses                 E-COMMERCE



                                                  FINANCE                &
                                  IT
An industry
            leader to             I ROCK!!
              watch



                                        A business
CEO/CMO                                 facilitator, not
                                        just a bean
 A real business                        counter
 enabler; creative
 problem-solver
                         E-COMMERCE



                                      FINANCE          &
                            IT
What Does This Mean to Our Customer?

    The Demandware Brand Promise:

 Our customers can count on Demandware
 to help them drive their business – and
 their own careers – to their full potential.




                Copyright 2012 Demandware, Inc. - Confidential
How Does the Customer Benefit?



  Think It. Do It.

  No limits. No worries. No surprises.




                Copyright 2012 Demandware, Inc. - Confidential
Brand Promise Rests On Brand Attributes

   Innovation        Simplicity                            Partnership         Performance

  Automatic global   Single platform:                         Business model     World-class
      releases         Multi-brand/                                               operating
                      Multi-country/                                       *
          *                                                                      environment
                      Omni-channel                                 Thought
    Innovation                                                    leadership           *
                            *
    eco-system                                                                  Uptime/Security
                      Transparent,                                         *
          *             inclusive                                                      *
                                                                  Customer-
    Link partners        pricing                                    focused       Scalability
          *                 *                                     innovation

    Community          Extensible/                                         *
                      Interoperable                               Customer
          *
                            *                                      panels
        Labs
                     Integrated 3rd
          *          party services
  Open cloud-based     and apps
      services




                          Copyright 2012 Demandware, Inc. - Confidential
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Startup Secret:
     Be consistent from the start to
     get Brand Integrity
     • Consistency - Great brands are consistent;
       everywhere you touch they are the same.

     • Values – Great brands have attributes consistent
       with company values.

     • Reliability – Great brands consistently keep their
       promise.
                                                                                         21
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Startup Secret:
     Start how you mean to End




                                                                                        22
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        23
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                         www.mjskok.com
            #innovationlab          @mjskok            #startupsecrets




     Positioning
     Occupy a distinct place
            – in a potential customer’s mind
            – unique whitespace in market
     •     For (target customers – beachhead segment only)
     •     Who are dissatisfied with (current market alternative)
                                                                               Good news!
     •     Our product is a (new product category)
                                                                            You already did a
     •     That provides (key problem solving capability)                   simplified version
     •     Unlike (reference competitive differentiation, to                in the Value Prop
           alternative),                                                         session!
     •     We have assembled (key whole product features for
           your specific application)

                                                                                             24
Positioning
Mark Lorion, CMO Apperian.

Previously VP Marketing
Spotfire Analytics Division
TIBCO Software
Company/Product Overview & Positioning /
Messaging
Spotfire acquired by TIBCO Software ($1+B rev) in 2007
Analytics software sold to enterprises in numerous vertical markets
$xxxM Operating Unit w/ xxx employees
Field teams in throughout Americas, EMEA, APAC


•   For line-of-business managers and data analysts at global enterprises
•   Who are dissatisfied with rigid BI reports (business intelligence software)
    that don’t answer questions and require IT support to modify
•   Our approach offers a user-driven and visual approach for looking at data
•   That rapidly uncovers new insights that lead to business opportunities,
    avoids threats, and helps people make better decisions
•   Unlike traditional Business Intelligence
•   Spotfire is an Analytics & Data Discovery software platform that provides
    dimension-free data exploration and freeform user control to ask and
    answer new questions at the speed of thought
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Competition
     • Unique differentiation
         – Not just technology
                • EG Targeted Segment

     • Barriers to entry
         – Rewind, repeat: Not just technology!
                • EG Business Model, GTM approach

     • What is sustainable?
         – IP, patents, network, data, process, etc
                • Consistent with your CORE value?

                                                                                         27
Harvard innovation lab :       Michael J Skok :   Startup Secrets :    Go To Market
Hi                                                                           www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Positioning 2 x 2
     Whatever sets you up… for a unique white space

                High

                                                                                    Define real
                                                            {whitespace}            BARRIERS
                                 a                                                 To entry into
                                                   c                               each segment


      The choice
       of axes is                            b
        critical                                                                   Bubble sizing
                                                                                     for relative
                                                                  d                    size of
                                                                                    competitors

                 Low
                          Low                                         High
                                                                                                    28
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        29
Harvard innovation lab :        Michael J Skok :      Startup Secrets :   Go To Market
Hi                                                                             www.mjskok.com
        #innovationlab               @mjskok               #startupsecrets




     Perfect Startup Storm

                                         Disruptive
                                       Business Model




                                 Disruptive             New Market &
                                Technology                 GTM




                                                                                                30
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                         www.mjskok.com
            #innovationlab          @mjskok            #startupsecrets




     Why does Targeting & Segmentation matter?

     •     Product / Market fit
     •     Packaging and Pricing
     •     Channels, Distribution
     •     Messaging, communication
            … and more


     • DEPEND on Targeting & Segmentation


                                                                                            31
Harvard innovation lab :        Michael J Skok :      Startup Secrets :   Go To Market
Hi                                                                              www.mjskok.com
         #innovationlab               @mjskok               #startupsecrets




     Perfect Startup Storm
     Focus on Value Prop FOR Target Segment


                                          Disruptive
                                        Business Model




                                  Disruptive             New Market &
                                 Technology                 GTM
                                                          TARGET
                                                          segment
                                                                                                 32
Harvard innovation lab :       Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                           www.mjskok.com
          #innovationlab              @mjskok            #startupsecrets




     Value Prop: Recap & Intersection
                     – 3D Solution
                            • Discontinuous
                            • Defensible
                            • Disruptive

                     – 4U Need
                            •     Unworkable
                            •     Unavoidable
                            •     Urgent
     (For Targeting,        •     Underserved market
     Segmentation)


                                                                                              33
Harvard innovation lab :        Michael J Skok :      Startup Secrets :   Go To Market
Hi                                                                              www.mjskok.com
         #innovationlab               @mjskok               #startupsecrets




     Perfect Startup Storm
     Focus on Value Prop FOR Target Segment


                                          Disruptive
                                        Business Model




                                  Disruptive             New Market &
                                 Technology                 GTM
                                                         TARGET
                                                         segment
                                    Unique                Underserved
                                                                                                 34
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab           @mjskok           #startupsecrets




     Adding to Lean Startup thinking…
                           Minimum Viable Product (MVP)
                         AND Minimum Viable Segment (MVS)




                                MV                 MV
                                S                  S

                         Smaller, Easier Target to Cover
                                                                                        35
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Segmentation Startup Secret:
     Common Set of Needs -> Reference

     • Segment according to the same NEEDS
         – Customers can compare solutions

     • When you deliver
         – They will REFERENCE each other

     • Leads to…
         – Initial Beachhead


                                                                                         36
Harvard innovation lab :   Michael J Skok :   Startup Secrets :    Go To Market
Hi                                                                       www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Targeting Segmentation
     Get to common Problem / NEEDS
     • Vertical
         – Automotive
                                                                          Vertical
         – Financial Services
                                                                         Siz
         – Government
                                                                          e
                                                                        Problem/NEED
     • Size
                                                                              S
         – Consumer
         – SMB
         – Enterprise
     • Problem / NEEDS
         – E.G. Regulatory Approval Process
                • Applicable Across Pharma, Fin Services, Govt, etc

                                                                                          37
Harvard innovation lab :      Michael J Skok :    Startup Secrets :     Go To Market
Hi                                                                            www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker




                                                                                               38
Harvard innovation lab :      Michael J Skok :    Startup Secrets :     Go To Market
Hi                                                                            www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker

                                    Field Workers                  vs. White Collar




                                                                                               39
Harvard innovation lab :      Michael J Skok :    Startup Secrets :      Go To Market
Hi                                                                             www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker

                                    Field Workers                  vs. White Collar

                                      Services                     vs. Sales




                                                                                                40
Harvard innovation lab :      Michael J Skok :    Startup Secrets :      Go To Market
Hi                                                                             www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker

                                    Field Workers                  vs. White Collar

                                      Services                     vs. Sales

                                 Medical Equipment                 vs. Office Equipment




                                                                                                41
Harvard innovation lab :      Michael J Skok :    Startup Secrets :      Go To Market
Hi                                                                             www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker

                                    Field Workers                  vs. White Collar

                                      Services                     vs. Sales

                                 Medical Equipment                 vs. Office Equipment

                                      Hospitals                    vs. Medical Clinics




                                                                                                42
Harvard innovation lab :      Michael J Skok :    Startup Secrets :      Go To Market
Hi                                                                             www.mjskok.com
         #innovationlab              @mjskok            #startupsecrets




     Targeting Segmentation
     Example, seeking Critical Need

                                 Mobile Professionals              vs. Office Worker

                                    Field Workers                  vs. White Collar

                                      Services                     vs. Sales

                                 Medical Equipment                 vs. Office Equipment

                                      Hospitals                    vs. Medical Clinics

                                     Critical Care
                                                                   vs. Diagnostics



                                                                                                43
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Startup Secret
     Don’t be afraid to FOCUS!

 • Narrow as possible to start!
      – Think Beachhead (Geoffrey Moore)

 • Which would you rather…
      – Expand on success?
      – Contract on failure?




                                                                                         44
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        45
Harvard innovation lab :   Michael J Skok :       Startup Secrets :   Go To Market
Hi                                                                          www.mjskok.com
         #innovationlab          @mjskok                #startupsecrets




     The Startup Marketing & Sales Cycle


                                           Awareness

                                             Interest

                                        Understanding

                                         Engagement

                                               Trial

                                           Purchase



                                                                                             46
Harvard innovation lab :   Michael J Skok :       Startup Secrets :   Go To Market
Hi                                                                           www.mjskok.com
          #innovationlab          @mjskok                #startupsecrets




     Target, Segment AND Startup Secret:
     Personify ―Actors‖

                                            Awareness
       Actors                                 Interest

     Segment                             Understanding

       Target                             Engagement

                                                Trial

                                            Purchase
       Underserved, Uniquely
              valued
                                                                                              47
Harvard innovation lab :   Michael J Skok :       Startup Secrets :          Go To Market
Hi                                                                                  www.mjskok.com
          #innovationlab          @mjskok                #startupsecrets




     Startup Secret: Customer
     ―Actors‖ Change Through ―Stages‖

                                            Awareness                           Customer ―Actors‖
       Actors                                 Interest
                                                                                • Visionary
     Segment                             Understanding                          • Technocrat




                                                                       STAGES
       Target                             Engagement                            • Operator
                                                                                • Influencer
                                                Trial
                                                                                • Economic buyer
                                            Purchase
       Underserved, Uniquely                                                    • Decision maker
              valued
                                                                                                     48
Harvard innovation lab :   Michael J Skok :       Startup Secrets :          Go To Market
Hi                                                                                  www.mjskok.com
          #innovationlab          @mjskok                #startupsecrets




     Ultimately figure out Customer DMU:
     Decision Making Unit

                                            Awareness                           Customer ―Actors‖
       Actors                                 Interest
                                                                                • Visionary
     Segment                             Understanding                          • Technocrat




                                                                       STAGES
       Target                             Engagement                            • Operator           DMU?
                                                                                • Influencer
                                                Trial
                                                                                • Economic buyer
                                            Purchase
       Underserved, Uniquely                                                    • Decision maker
              valued
                                                                                                        49
Harvard innovation lab :   Michael J Skok :   Startup Secrets :       Go To Market
Hi                                                                         www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




Startup Secret: Qualify Early AND Often
 • Qualify early                                                                            Target
     – Save all the $, Time and                                                             Focused
       Resources early in the process
     – Opportunity cost for another                                                         Segment
       suspect

 • Qualify often (things change)                             Awareness                      Customer ―Actors‖
     – Create lead scoring, nurturing
       programs                                                Interest                     • Visionary

                                                                                            • Technocrat




                                                                                 “SCENES”
                                                           Understanding
 • Marketing qualifiers: Tie to                                                             • Operator
   Targeting & Segmentation                                                                    DMU
                                                            Engagement
     – Narrow criteria = easy                                                               • Influencer
       qualification                                                                        • Economic buyer
                                                                 Trial
                                                                                            • Decision maker
 • Sales qualifiers:                                          Purchase
     – MANACT : Money, Authority,
       Need, Ability, Competition,                                                                         50
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        51
Harvard innovation lab :                        Michael J Skok :       Startup Secrets :   Go To Market
Hi                                                                                              www.mjskok.com
        #innovationlab                               @mjskok                #startupsecrets




     ―Driving‖ Startup Marketing & Sales
                                             YOU Control
              Neutral
                   GEARS to build Momentum




                                                               Awareness

                                                                 Interest

                                                            Understanding

                                                             Engagement

                                                                   Trial

                                                               Purchase
            Overdrive


                                                                                                                 52
Harvard innovation lab :                        Michael J Skok :       Startup Secrets :   Go To Market
Hi                                                                                              www.mjskok.com
        #innovationlab                               @mjskok                #startupsecrets




     ―Driving‖ Startup Marketing & Sales
                                             YOU Control                    Customer Controls
              Neutral




                                                                                                Accelerator / Brake / Clutch
                   GEARS to build Momentum




                                                               Awareness

                                                                 Interest

                                                            Understanding

                                                             Engagement

                                                                   Trial

                                                               Purchase
            Overdrive


                                                                                                                               53
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Your controls: Gears in the sales cycle
     • Gears to build momentum
         – Why the analogy?
                • Because it’s tough to go from 1st gear to 5th gear in one
                  step – likewise it’s tough to skip steps in a sales process
                • Don’t stay with a gear too long when accelerating – you’ll
                  over rev the engine = same with customer = instead…
         – Engage a new Gear (sales or marketing tool)
           every time the customer puts the clutch in
                • Measure whether it enables customer to accelerate &
                  build momentum for the sale


                                                                                         54
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     Customer’s Controls: ABCs of sales cycle
     Accelerator
          – Accelerates the customer from one step to another –
          – e.g. SLIPPERY product, things like self service, free trials etc.
     Brake
          – Stops the customer moving from one step to another – e.g. lack of
            understanding of your solution, poor competitive positioning
          – DON’T assume it’s price!
          (ACTIVELY LISTEN to carefully dissect sales objections, recognize sales
          stops / starts)
     Clutch
          – Is engaged when the customer doesn’t know what the next step is,
            or there’s inertia and risk causing a stalled sales cycle
                                                                                         55
Harvard innovation lab :           Michael J Skok :        Startup Secrets :           Go To Market
Hi                                                                                           www.mjskok.com
         #innovationlab                  @mjskok                 #startupsecrets




     Driving Marketing & Sales Proof
     Connecting it to CUSTOMER Gain/Pain Ratio

                           Neutral
                                                   Awareness
                                                     Interest

                                                 Understanding
                                 GEARS



                                                   Engagement




                                                                               Accelerator
                                                      Trial
                                                    Purchase
                          Overdrive




                                                                                                              56
Harvard innovation lab :           Michael J Skok :        Startup Secrets :           Go To Market
Hi                                                                                             www.mjskok.com
           #innovationlab                  @mjskok                 #startupsecrets




     Driving Marketing & Sales Proof
     Connecting it to CUSTOMER Gain/Pain Ratio

                             Neutral
     Customer Gain:                                  Awareness
     •   Revenue
                                                       Interest
     •   Cost savings
     •   Time                                      Understanding
                                   GEARS



     •   People
                                                     Engagement




                                                                                 Accelerator
     •   Competitive
         advantage                                      Trial
     •   Reputation                                   Purchase
     •   Etc..              Overdrive




                            Gain



                                                                                                                57
Harvard innovation lab :           Michael J Skok :        Startup Secrets :                     Go To Market
Hi                                                                                                       www.mjskok.com
           #innovationlab                  @mjskok                 #startupsecrets




     Driving Marketing & Sales Proof
     Connecting it to CUSTOMER Gain/Pain Ratio

                             Neutral
     Customer Gain:                                  Awareness                                         Customer Pain:
     •   Revenue                                                                                       • See, (Find) - Awareness
                                                       Interest
     •                                                                                                 • Try - Engagement, Trial




                                                                                 Accelerator / Brake
         Cost savings
     •   Time                                      Understanding                                       • Buy – Price, Package,
                                   GEARS



     •   People                                                                                              License
                                                     Engagement
     •   Competitive                                                                                   • Fly - Implement, Deploy
         advantage                                      Trial                                          • Own, (TCO) – Service,
     •   Reputation                                                                                      Support
                                                      Purchase
     •   Etc..              Overdrive




                            Gain                                                  Pain



                                                                                                                                   58
Harvard innovation lab :           Michael J Skok :        Startup Secrets :                              Go To Market
Hi                                                                                                                www.mjskok.com
           #innovationlab                  @mjskok                 #startupsecrets




     Driving Marketing & Sales Proof
     Connecting it to CUSTOMER Gain/Pain Ratio




                                                                                 Accelerator / Brake / Clutch
                             Neutral
     Customer Gain:                                  Awareness                                                  Customer Pain:
     •   Revenue                                                                                                • See, (Find) - Awareness
                                                       Interest
     •   Cost savings                                                                                           • Try - Engagement, Trial
     •   Time                                      Understanding                                                • Buy – Price, Package,
                                   GEARS



     •   People                                                                                                       License
                                                     Engagement
     •   Competitive                                                                                            • Fly - Implement, Deploy
         advantage                                      Trial                                                   • Own, (TCO) – Service,
     •   Reputation                                                                                               Support
                                                      Purchase
     •   Etc..              Overdrive       Inertia, RISK on a startup :
                                            •     Switching costs?
                                            •     Default = do nothing
                                            •     Alternatives?
                                            •     Good enough = good enough!

                                                       Inertia,
                            Gain                                                   Pain
                                                        RISK


                                                                                                                                            59
Harvard innovation lab :   Michael J Skok :                       Startup Secrets :   Go To Market
Hi                                                                                          www.mjskok.com
         #innovationlab          @mjskok                                #startupsecrets




     Driving Marketing & Sales
     Relating to Business Model CORE, levers & multipliers

                                                  Awareness
                                                      Interest

                                         Understanding
                                              Engagement
                                                        Trial
                                                      Purchase
                                        Multipliers



                                                                s
                                                                Lever




                                                      CORE


                                                                                                             60
Harvard innovation lab :           Michael J Skok :                       Startup Secrets :   Go To Market
Hi                                                                                                       www.mjskok.com
               #innovationlab                 @mjskok                                #startupsecrets




         Driving Marketing & Sales
         Relating to Business Model CORE, levers & multipliers
Multiplier Examples
                                 Neutral
Sales & Marketing                                              Awareness
         Tiered Pricing
                                                                   Interest
         Freemium
         Channel partners
                                                      Understanding
                                      GEARS



Product
         SLIPPERY products *                              Engagement
         ―Russian Doll‖
          Packaging *                                                Trial
         Technology stacks                                        Purchase
         WHOLE product         Overdrive

         ACCELERATE
          In the Sales
                                                     Multipliers




              Cycle
                                                                             s
                                                                             Lever




                                                                   CORE


                                                                                                                          61
Harvard innovation lab :           Michael J Skok :                       Startup Secrets :                             Go To Market
Hi                                                                                                                                  www.mjskok.com
               #innovationlab                 @mjskok                                #startupsecrets




         Driving Marketing & Sales
         Relating to Business Model CORE, levers & multipliers
Multiplier Examples                                                                                                               Lever Examples




                                                                                                   Accelerator / Brake / Clutch
                                 Neutral
Sales & Marketing                                              Awareness                                                          Sales & Marketing
         Tiered Pricing                                                                                                              Web
                                                                   Interest
         Freemium                                                                                                                    Inside sales
         Channel partners                                                                                                            Inbound
                                                      Understanding
                                      GEARS



Product                                                                                                                               Referencing, viral
         SLIPPERY products *                              Engagement                                                             Product
         ―Russian Doll‖                                                                                                              Support
          Packaging *                                                Trial
                                                                                                                                      Services
         Technology stacks                                        Purchase                                                           WHOLE product
         WHOLE product         Overdrive

         ACCELERATE                                                                                                                    Reduce
          In the Sales                                                                                                                 BRAKES
                                                     Multipliers




              Cycle                                                                                                                In the Sales Cycle
                                                                             s
                                                                             Lever




                                                                   CORE


                                                                                                                                                            62
Harvard innovation lab :        Michael J Skok :           Startup Secrets :     Go To Market
Hi                                                                                    www.mjskok.com
        #innovationlab               @mjskok                    #startupsecrets




     Road Test: put it all together
               Reduce Brakes, let out                   Accelerate in Gear via
               Clutch                                   •    Automation
               • Time                                   •    NOT people dependent
               • People                                 •    Self service for the
               • Resources                                   customer



               Engage levers                            Use Multipliers
               •    Distill to repeat & scale           •    SLIPPERY product
               •    Eg Videos, Podcasts                 •    Russian Doll packaging
               •    Self service portals,
                    Knowledge bases,                          (Around your
                    Configurators                           CORE Value Prop)

                                                                                                       63
Go-To Market Strategy & Planning
Mark Lorion, CMO Apperian.

Previously VP Marketing
Spotfire Analytics Division
TIBCO Software
Our go-to-market planning

                                  Corp and
                                   Division
                                  Objectives


       Playbooks                                       Yearly
       executed &                                    Business &   Segmentation
        evaluated                                    Marketing
        quarterly                                       Plan




                “Plays”
                (limited set of
              cross-functional
                                               Platform
              initiatives  org                Roadmap
               alignment and
                    scale)
Our go-to-market map (2010 sample)
                                                                                The “Plays”



                                                                   Channels Play
APJ



                                                    FSI Play
                                                                      (China)




                                                                                      Viral + Awareness Play ($$$)
                                                     LS Play          LS Play
                           Manufacturing           (research)        (clinical)




                                                     LS Play
EU




                               Energy                                FSI Play
                                                   (research)
            CPG                 Telco                                 LS Play
                                                 Channels Play
        Manufacturing        TIBCO Play                              (clinical)




                                CPG                  LS Play
US




                                                                     FSI Play
                               Energy              (research)
           Telco            Government                                LS Play
                                                 Channels Play
        Manufacturing        TIBCO Play                              (clinical)

                                 “Silver Spotfire” ($$)

      $0 (Sales driven)          $                        $$            $$$
                          Relative Marketing Programs Investment
Driving Sales and Marketing at Spotfire…
                                 Risk & Financial Services Play (2010 Sample)
OVERVIEW                                                                     TACTICAL OPTIONS
Objectives:                                                                  Demand Support
    Sell risk analytics solutions to banks, I-banks, Insurance Co.,             Conferences: RiskMinds Geneva, GARP NYC 2/10
     Asset managers, Hedge funds, and corporations                               Outbound: telemarketing program to reach named list of
    REVENUE POTENTIAL: ____                                                      prospects, email db and lists for webcast series
    EXPECTED INVESTMENT: ___                                                    Inbound: Develop thought leadership content – Magazine articles,
                                                                                  speaker slots at events, purchase magazine space for
Audience                                                                          columns/editorials; consider blogging series on Cap Markets
       VP, Group Risk Mgmt, VP Cap. Mgmt, Trading Management                     trends re Risk
         at major banks
                                                                                 Web—PPC, Banner ads (GARP, MashRisk Network, others),
       Head of-- Modeling and Research/Actuarial Team/Trading                    rationalize website and upgrade concentration of keywords
Message:                                                                         Webcasts -- SF/S+ risk related series, 1/mo, RiskCenter, Fierce
    Respond to changing competitive and regulatory landscape more                Finance email blast for each event; E&Y compliance series, 6/yr,
     quickly, effectively and confidently                                         audience is across verticals; Reuters, 3/yr SF use as embedded
                                                                                  provider of visual analytics
    Empower analysts and decision makers to explore and interrogate
     data to gain more complete understanding                                Equip Sales:
    Deploy real-time data processing and visual /statistical analytics to       New ―solution‖ demos are required with support kits – based off
     uncover/discern hidden trends in data                                        XYZ customer deals in 1H’09
Offering:                                                                        Flash tours (4) Develop between 12/09 and 6/10
     Enterprise Risk Aggregation ―solution‖                                     A dedicated presales resource needed in each major GEO!
     Credit risk modeling and performance monitoring ―solution‖                 Bloomberg subscription (share cost with Energy Play)
Primary Competition:                                                         Partners/Resellers/OEM:
     SAS, @Risk, FactSet, R, MatLab, SPSS, Algorithmics                          Leverage ptship with Reuters, CapitalIQ for go-to-market programs
     Internal apps (Excel, Homegrown applications)                               Enable resellers with sales kits and investigate co-mkting oppty
Competitive Edge:                                                            Product Enhancements:
    Open, adaptable, and scalable modeling platform                              Updating time series data; 3d surface plots; Standard distribution
                                                                                   reference curves; Custom calendar capability; Weighted average,
    Fast, intuitive multi-dimensional, user-driven visualizations                 cumulative return; Productize FinMetrics and NuOpt; Bloomberg
    Complete data spectrum capabilities – from inputs, quality,                   Data connection (1-Historic data, 2-’real time’ data)
     analysis, to post-processing reporting and visualizations
    Greater range of visualization and computational capabilities
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        68
Harvard innovation lab :   Michael J Skok :   Startup Secrets :         Go To Market
Hi                                                                            www.mjskok.com
         #innovationlab          @mjskok            #startupsecrets




     ROME
     Results Oriented, Measured Execution
     • You can’t manage what you can’t measure
     • Measure every step
                                                               Awareness
         – Time
         – People                                                Interest
         – Other resources                                   Understanding

     • Conversion rates                                       Engagement
         –   Accelerators
                                                                      Trial
         –   Brakes
         –   Clutch                                             Purchase

         –   Gears
                                                                                               69
Harvard innovation lab :            Michael J Skok :          Startup Secrets :        Go To Market
Hi                                                                                           www.mjskok.com
        #innovationlab                    @mjskok                      #startupsecrets




     Drill down - Marketing & Sales
                  lead                 lead
                                                 lead
                                lead                     lead
                                                                lead

                                       Awareness                                         $,Time,
                                                                                         Resources
                                         Interest                                        Conversion rate
                                                                                         %
                                   Understanding                                         Break down
                                                                                         measurable,
                                                                                         manageable
                                       Engagement
                                                                                         steps
                                              Trial

                                        Purchase                                         ULTIMATELY:
                                                                                         $, Time, Resources
                                                                                         Conversion rate %
                                                        Customer                                              70
Harvard innovation lab :            Michael J Skok :          Startup Secrets :        Go To Market
Hi                                                                                          www.mjskok.com
        #innovationlab                    @mjskok                      #startupsecrets




     Marketing & Sales - FLOW
                                               lead     lead
                           lead                                          lead
                    lead               lead
             lead
                                                 lead
                                lead                     lead
                                                                lead

                                       Awareness

                                         Interest

                                   Understanding                                Seamlessly linked steps,
                                                                                that incent customers to
                                       Engagement                               flow from one step to
                                                                                another
                                              Trial

                                        Purchase

                                                        Customers
                                                                                                             71
Harvard innovation lab :      Michael J Skok :   Startup Secrets :        Go To Market
Hi                                                                             www.mjskok.com
        #innovationlab             @mjskok            #startupsecrets




     Startup Secret : Reverse Engineer


                                                                              $,Time,
                                 Awareness
                                                                             Resources
                                   Interest                                Conversion rate
                                                                                 %
                                                                             REVERSE
                                Understanding                                ENGINEER
                                                                            THE FUNNEL
                                Engagement
                                                                            ULTIMATELY:
                                     Trial                                $,Time, Resources
                                  Purchase
                                                                          Conversion rate %


                                                                                                72
Harvard innovation lab :      Michael J Skok :   Startup Secrets :        Go To Market
Hi                                                                             www.mjskok.com
        #innovationlab             @mjskok            #startupsecrets




     Startup Secret: Closed Loop, Web

                                                                        $,Time, Resources
                                 Awareness                              Conversion rate %

                                   Interest

                                Understanding                               Closed
                                                                             Loop
                                Engagement                                    via
                                                                             Web
                                     Trial

                                  Purchase                              ULTIMATELY:
                                                                        $,Time, Resources
                                                                        Conversion rate %
                                                                                                73
Harvard innovation lab :   Michael J Skok :    Startup Secrets :   Go To Market
Hi                                                                      www.mjskok.com
        #innovationlab          @mjskok             #startupsecrets




     The Web: Changes (nearly) everything
     Positives:                     Negatives:
     • Measure everything           • One click away
     • Closed loop                     Competitors
                                       Distractions
     • Lower cost       Closed Loop
                                          via Web


     Virtual Sales, Marketing, Services               Don’t forget the human factors
      Webinars                                        Personal touch
      Video                                           Relationships – better real than
                                                        virtual!
      Podcasts
                                                       Experiential learning is
                                                        invaluable
                                                                                           74
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        75
Brian Halligan
CEO, HubSpot
@Bhalligan
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
content
CREATE
CONTENT
•   Blog Posts
•   Info graphics
•   Videos
•   E-books
•   White papers
•   Reports
•   Calculators
•   Freemium Appl
•   Grader
OPTIMIZE
PROMOTE
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
LINKS ARE TO
THE INTERNET
AS DOLLARS
ARE TO THE
ECONOMY
@BHalli
gan
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Better
 More Usage   Personalizati
              on




    Better    Better Value
Conversion
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
MIT 15.S16 Special Seminar in
Management: Entrepreneurial
Product Marketing and
Development (Spring)
Harvard innovation lab :   Michael J Skok :   Startup Secrets :      Go To Market
Hi                                                                        www.mjskok.com
           #innovationlab       @mjskok            #startupsecrets




     Inbound vs. Outbound ?
                     $1M
                                                            OUT-bound
                  $500k
      Deal Size




                  $100k

                    $50k
                                 Hybrid
                                                    ?
                    $10k                                       IN-bound

                        $0


                                                                                           98
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




        When some Outbound Marketing
         Makes Sense for the Startup
                         Mark Lorion @mark_lorion
                              Apperian, CMO

              RESOURCE ONLINE AT
http://mjskok.com/resource/gtm-outbound-marketing



                                                                                        99
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        100
Building a

SALES & MARKETING MACHINE
FUNNEL DESIGN AND OPTIMIZATION




                           CAC
                                                                            ROI by
                                           Viral                             Lead
                                         Coefficient       Time to          Source
                                                           Recover
                     LTV                                    CAC

                                 Churn
                                  Rate             Viral
                                                   Cycle             Conversion
                                                   Time                 Rate
1 st


THE BASICS
OF FUNNEL DESIGN
Expand
Suspects   Closed Deals    Upsell
                          Cross sell
IN A PERFECT WORLD…




       1 Step
IN A PERFECT WORLD…
    MyProduct.com

                            DESCRIPTION
       HOW IT WORKS
                            Our product
                            allows you …

                            Only $9,999.99




                 BUY NOW!
THE ART OF
MARKETING
THE

BUYER
THE BUYING CYCLE
                             PURCHASE
             CONSIDERATION



                                        CLOSED
                                         DEAL




 AWARENESS
TRIGGERS
 • Moving house
     • Movers, phones, cable TV, furniture, insurance, etc.
 • Starting a new software project
     • PaaS (Platform as a Service), Dev Tools, etc.
 • Need to hire a lot of new employees
     • Applicant Tracking System
 • Just lost my data in hard drive crash
     • Backup software/service
 • Read about a new scary computer virus
     • Anti-virus software
AN ORGANIZATIONAL
METAPHOR FOR THE KEY
FUNNEL STAGES
                                     SALES
              MIDDLE OF THE FUNNEL



                                             CLOSED
                                              DEAL



TOP OF THE FUNNEL
WHAT IS TOP OF THE
 FUNNEL?

 customer is not aware       customer has a
they have a problem, or      problem and is
   that your product      looking for a solution
    category exists


GENERATE                  GET FOUND
AWARENESS
WHAT IS THE MIDDLE OF
THE FUNNEL?


              QUALIFY          MQL
                        (MARKETING QUALIFIED
                               LEAD)




    NURTURE
WHAT IS THE MIDDLE OF
THE FUNNEL?


                           QUALIFY            MQL
                                       (MARKETING QUALIFIED
                                              LEAD)




        NURTURE
    •    Blog
    •    eMail Campaigns
    •    Webinars                    Wait for a Trigger
    •    Free Trials
    •    Newsletters                 Or try to create a Trigger
    •    etc.
THE
BUYER       CONSIDERATION

        ADDRESS THEIR QUESTIONS & CONCERNS
         • Will this work for my situation?
         • Is it the best product in the market?
         • Is it a safe choice? (Who else is using it?)
         • Will I get a return on my investment?
         • Is it scalable, secure?
         • Is it easy to implement?
         • Will I get good support?
         • Etc.
MEASURE
  "IF YOU CAN NOT MEASURE IT,
  YOU CAN NOT IMPROVE IT."
               - LORD KELVIN
WHAT TO MEASURE
FOR EACH STEP / ACTION:


NO OF ACTIONS             % CONVERSION RATE




                  TIME                    TIME
THE KEY METRICS
                    CAMPAIGNS
                     TO DRIVE
                     TRAFFIC



                     VISITORS

      OVERALL
                                  CONVERSION
    CONVERSION %                      %



                      TRIALS


                                  CONVERSION
                                      %



                   CLOSED DEALS
Suspects
                                                             Suspects

                                        Suspects
                                                     Suspects
                                                        Suspects
                                                                    Suspects
                                                            Suspects
                                 Suspects   Suspects                       Suspects
                                                Suspects Suspects




BUT EVEN IF YOU ARE MICROSOFT,
CISCO, ORACLE, OR GOOGLE
YOUR FUNNEL WILL HAVE



BLOCKAGE
POINTS
3   IMPROVE
IN DIAGNOSING MANY FUNNEL BLOCKAGE POINTS,
I HAVE FOUND THAT THERE IS A



CLEAR
PATTERN…
YOU ARE HOPING YOUR


CUSTOMERS WILL DO
SOMETHING
THAT THEY ARE

NOT MOTIVATED TO DO
IN OTHER WORDS…

YOU DESIGNED YOUR FUNNEL
THE WAY YOU HOPED IT WOULD
WORK…

BUT YOU MAY NOT HAVE THOUGHT ENOUGH ABOUT

THE CUSTOMER’S POINT OF
VIEW
JBOSS EXAMPLE

PUT A REGISTRATION FORM
ON THEIR WEB SITE BEFORE
A FREE DOWNLOAD

IMPACT

CUT THE DOWNLOAD RATE
BY MORE THAN 10X
GET INSIDE YOUR
CUSTOMER’S HEAD
           FRICTION   CONCERNS
UNDERSTAND WHAT
MOTIVATES THEM
           FRICTION   CONCERNS




                MOTIVATIONS
JBOSS EXAMPLE
• Making $27,000 a month selling documentation



           • Solution:
               • Give away documentation to
                 get their email address
EXAMPLE: DRIVING TRAFFIC TO YOUR WEB
                 SITE


                          GETTING FOUND
                          Not going to find your site
                          unless:

             friction &   - On top page of Google
             concerns       search results
                          - Recommended by a trusted
                            source
                          - Referred to in social media or
                            blogosphere
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for  Startups - Harvard Innovation Lab Series
LESSONS FROM WEBSITE
GRADER
•   Free tools drive viral spread
•   Low customer work required
•   High value delivered
•   Score leverages competitive urge, and acts as a trigger
•   Builds trust through clear
    demonstration of expertise
using engineering for marketing
First Contact                          Sell




                   Build       Build
First Contact                          Sell
                Relationship   Trust
OFTEN NECESSARY TO FIND TOPICS
THAT ARE NOT RELATED TO THE SALE




                    Build          Build
                 Relationship      Trust




 First Contact                             Sell
SELLING IS   10X EASIER…
ONCE YOU HAVE ESTABLISHED   TRUST
THE KEYS TO SUCCESS


     THE


  BUYER
               GET INSIDE
              YOUR BUYER’S
                 MIND
For More information

   Visit my blog at www.forEntrepreneurs.com
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                     www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Agenda
     Strategic
           1.     Brand
           2.     Positioning
           3.     Targeting, segmentation

     Tactical
           1.     The Marketing and Sales Cycle
           2.     Driving to market
           3.     Results Oriented, Measured Execution

     Execution – introductions to key areas
           1.     Inbound
           2.     Building your GTM machine
                                                                                        137
Harvard innovation lab :                      Michael J Skok :      Startup Secrets :   Go To Market
Hi                                                                                            www.mjskok.com
         #innovationlab                             @mjskok               #startupsecrets




     Recap
 Marketing & Sales                                 Strategies                                   Audience
      Cycle                                        Tactics                  Channel

      Awareness
                                                       Brand              Direct vs.           Targeting,
                                                                           Channel            Segmentation
        Interest                                    Positioning
                             OUTbound / INboound




                                                    Messaging             Channel               Personas
     Understanding                                                      Development,
                                                       Social           Management,           Actors/Scenes
                                                       Media                Etc.
     Engagement
                                                         PR
                                                                           Strategic
         Trial                                       Services              Partners
                                                    References
       Purchase                                            •   Results Oriented, Metrics, Execution
                                                               Driven
                                                           •   Continuous Iteration & Improvement
                                                                                                               138
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                         www.mjskok.com
            #innovationlab          @mjskok            #startupsecrets




     What we did we NOT cover,
     case examples on www.mjskok.com

     •     Brand elements
     •     Channel / Distribution
     •     Services, Professional Services
     •     Guerilla Marketing – when you’ve got no $!
     •     To come
            – Connection with business model
            – Whole product
            – Strategic partnering
                                                                                            139
Harvard innovation lab :   Michael J Skok :   Startup Secrets :   Go To Market
Hi                                                                         www.mjskok.com
            #innovationlab          @mjskok            #startupsecrets




     Key Points to Remember
     •     Manage your brand from the start
     •     Position to be unique
     •     Target & segment around customer needs
     •     Think about ―driving‖ your marketing & sales
           cycle

     • GTM is both strategic and tactical
     • But it is ultimately about ROME
                                                                                            140
Harvard innovation lab :       Michael J Skok :     Startup Secrets :   Go To Market
Hi                                                                            www.mjskok.com
         #innovationlab              @mjskok              #startupsecrets




     Remember, ROME wasn’t built in a Day
     Nor will your GTM strategy and tactics be
         –   R esults                                                           Listen
         –   O riented                           GTM                            Learn
         –   M easured                         Business                         Lead
                                                Model                           Iterate
         –   E xecution                                                         Pivot
         – D riven through iteration

                          •   Results Oriented, Metrics, Execution Driven
                          •   Continuous Iteration & Improvement


                                                                                               141
Harvard innovation lab :       Michael J Skok :     Startup Secrets :   Go To Market
Hi                                                                             www.mjskok.com
          #innovationlab              @mjskok              #startupsecrets




     Building an enduring company:
     GTM is a key part of your Execution

                                                                     Vision

                                                Executio                            Listen
                                                n
                                  Peopl                                             Learn
                  Value                                                             Lead
                                  e
                  Prop
                                                                                    Iterate
                                                                                    Pivot



     Startup                                                                    Enduring
                            Cultural Consistency                                Compan
                                                                                   y
                                                                                                142
Harvard innovation lab :   Michael J Skok :   Startup Secrets :           Go To Market
Hi                                                                              www.mjskok.com
        #innovationlab          @mjskok            #startupsecrets




     Thank you…
     • Apperian                                           Follow online
          – Mark Lorion                                              www.mjskok.com

     • Demandware                                                    @mjskok

       – Jamus Driscoll                                              /mjskok

     • Hubspot                                                       linkedin.com/in/mjskok

          – Brian Halligan                                           bit.ly/mjskok-google

     • Matrix partners                                               bit.ly/mjskok-youtube
          – David Skok



                                                                                                 143
Harvard innovation lab :       Michael J Skok :           Startup Secrets :   Go To Market
 Hi
Hi    Harvard innovation lab
         #innovationlab              @mjskok                     #startupsecrets    www.mjskok.com




                           START UP
                           SECRETS
                             An insider’s guide to unfair competitive advantage




                                         Going to Market




                                           MICHAEL J SKOK
                                         North Bridge Venture Partners

                                          twitter: @mjskok mjskok.com
                                                                                                     144

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Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To Market (GTM) strategies and tactics for Startups - Harvard Innovation Lab Series

  • 1. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi Hi Harvard innovation lab #innovationlab @mjskok #startupsecrets www.mjskok.com START UP SECRETS An insider’s guide to unfair competitive advantage Going To Market (GTM) MICHAEL J SKOK North Bridge Venture Partners twitter: @mjskok mjskok.com 1
  • 2. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secrets - Series • Sep 11: Perfect Pitch • Oct 11: Value Proposition • Oct 16: Company Formation • Nov 13: Business Model • Dec 4: Go-To-Market Strategy 2
  • 3. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Introductions & connections • Our guests: • Your hosts: – Apperian – Harvard I Lab • Mark Lorion @mark_lorion #innovationlab – Demandware – Michael Skok @mjskok • Jamus Driscoll @jamusdriscoll – Startup Secrets #startupsecrets – Hubspot • Brian Halligan @bhalligan – www.mjskok.com – Matrix partners • http://www.mjskok.com/reso urces/go-market • David Skok @bostonvc 3
  • 4. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets 4
  • 5. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets A Startup GTM Framework Marketing & Sales Strategies Audience Cycle Tactics Channel Awareness Brand Direct vs. Targeting, Channel Segmentation Interest Positioning OUTbound / INboound Messaging Channel Personas Understanding Development, Social Management, Actors/Scenes Media Etc. Engagement PR Strategic Trial Services Partners References Purchase • Results Oriented, Metrics, Execution Driven • Continuous Iteration & Improvement 5
  • 6. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 6
  • 7. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Identity Name system Brand Essence Every Touch Product Point 7
  • 8. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Brand • A science unto itself – don’t underestimate it’s power – Are you Coke or Pepsi, Apple or Dell? • But for starters, in startups – It’s about YOU, the founders – Your People – Your Culture (per the Company Formation session) – How you Execute • eg interact with your ecosystem of Customers, Partners, Suppliers, Stakeholders 8
  • 9. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Brand Essence Framework Vision What about the world is changing that makes us necessary? Promise What do we promise to customers at the most fundamental level? Spike unique What makes us distinctly Attributes Special different & valuable to our better customers? How do we Standard cost of entry achieve over and over? Personality Style What does it feel Emotion If we were a person How would we present like to engage what would we be ourselves to the world? with us? like? 9
  • 10. Branding Demandware Jamus Driscoll, SVP Marketing jdriscoll@demandware.com December 3, 2012 Copyright 2012 Demandware, Inc. - Confidential
  • 11. The Demandware Branding Challenge & Change the Criteria Copyright 2012 Demandware, Inc. - Confidential
  • 12. The Demandware Branding Challenge From To & Control of software Control of ecommerce The cost to install The cost to stay cutting edge Expense Revenue driver For mid-size companies For high-growth brands Our platform Your Brands Risk Confidence For visionaries For great marketers Copyright 2012 Demandware, Inc. - Confidential
  • 13. The Demandware Opportunity Brand/ & Marketing eCommerce Technology Features Benefits Rewards Copyright 2012 Demandware, Inc. - Confidential
  • 14. What It Meant • Demandware couldn’t differentiate on claims alone • Must go beyond rational and functional benefits • Address ambition • Speak the customer’s language • It’s not what we can do, it’s what the customer can do • Look and act like a marketing partner • Show, don’t just tell • Make it inspiring! Copyright 2012 Demandware, Inc. - Confidential
  • 15. Brand Positioning It’s not just about how the customer feels about you It’s also about how you make the customer feel about herself Copyright 2012 Demandware, Inc. - Confidential
  • 16. Stronger brands, faster, more The agility and profitable control to stay ahead growth and build my brand CEO/CMO Better economics over A more effective and the long term reliable business platform that frees up resources to higher- value uses E-COMMERCE FINANCE & IT
  • 17. An industry leader to I ROCK!! watch A business CEO/CMO facilitator, not just a bean A real business counter enabler; creative problem-solver E-COMMERCE FINANCE & IT
  • 18. What Does This Mean to Our Customer? The Demandware Brand Promise: Our customers can count on Demandware to help them drive their business – and their own careers – to their full potential. Copyright 2012 Demandware, Inc. - Confidential
  • 19. How Does the Customer Benefit? Think It. Do It. No limits. No worries. No surprises. Copyright 2012 Demandware, Inc. - Confidential
  • 20. Brand Promise Rests On Brand Attributes Innovation Simplicity Partnership Performance Automatic global Single platform: Business model World-class releases Multi-brand/ operating Multi-country/ * * environment Omni-channel Thought Innovation leadership * * eco-system Uptime/Security Transparent, * * inclusive * Customer- Link partners pricing focused Scalability * * innovation Community Extensible/ * Interoperable Customer * * panels Labs Integrated 3rd * party services Open cloud-based and apps services Copyright 2012 Demandware, Inc. - Confidential
  • 21. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Be consistent from the start to get Brand Integrity • Consistency - Great brands are consistent; everywhere you touch they are the same. • Values – Great brands have attributes consistent with company values. • Reliability – Great brands consistently keep their promise. 21
  • 22. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Start how you mean to End 22
  • 23. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 23
  • 24. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Positioning Occupy a distinct place – in a potential customer’s mind – unique whitespace in market • For (target customers – beachhead segment only) • Who are dissatisfied with (current market alternative) Good news! • Our product is a (new product category) You already did a • That provides (key problem solving capability) simplified version • Unlike (reference competitive differentiation, to in the Value Prop alternative), session! • We have assembled (key whole product features for your specific application) 24
  • 25. Positioning Mark Lorion, CMO Apperian. Previously VP Marketing Spotfire Analytics Division TIBCO Software
  • 26. Company/Product Overview & Positioning / Messaging Spotfire acquired by TIBCO Software ($1+B rev) in 2007 Analytics software sold to enterprises in numerous vertical markets $xxxM Operating Unit w/ xxx employees Field teams in throughout Americas, EMEA, APAC • For line-of-business managers and data analysts at global enterprises • Who are dissatisfied with rigid BI reports (business intelligence software) that don’t answer questions and require IT support to modify • Our approach offers a user-driven and visual approach for looking at data • That rapidly uncovers new insights that lead to business opportunities, avoids threats, and helps people make better decisions • Unlike traditional Business Intelligence • Spotfire is an Analytics & Data Discovery software platform that provides dimension-free data exploration and freeform user control to ask and answer new questions at the speed of thought
  • 27. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Competition • Unique differentiation – Not just technology • EG Targeted Segment • Barriers to entry – Rewind, repeat: Not just technology! • EG Business Model, GTM approach • What is sustainable? – IP, patents, network, data, process, etc • Consistent with your CORE value? 27
  • 28. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Positioning 2 x 2 Whatever sets you up… for a unique white space High Define real {whitespace} BARRIERS a To entry into c each segment The choice of axes is b critical Bubble sizing for relative d size of competitors Low Low High 28
  • 29. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 29
  • 30. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Perfect Startup Storm Disruptive Business Model Disruptive New Market & Technology GTM 30
  • 31. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Why does Targeting & Segmentation matter? • Product / Market fit • Packaging and Pricing • Channels, Distribution • Messaging, communication … and more • DEPEND on Targeting & Segmentation 31
  • 32. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Perfect Startup Storm Focus on Value Prop FOR Target Segment Disruptive Business Model Disruptive New Market & Technology GTM TARGET segment 32
  • 33. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Value Prop: Recap & Intersection – 3D Solution • Discontinuous • Defensible • Disruptive – 4U Need • Unworkable • Unavoidable • Urgent (For Targeting, • Underserved market Segmentation) 33
  • 34. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Perfect Startup Storm Focus on Value Prop FOR Target Segment Disruptive Business Model Disruptive New Market & Technology GTM TARGET segment Unique Underserved 34
  • 35. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Adding to Lean Startup thinking… Minimum Viable Product (MVP) AND Minimum Viable Segment (MVS) MV MV S S Smaller, Easier Target to Cover 35
  • 36. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Segmentation Startup Secret: Common Set of Needs -> Reference • Segment according to the same NEEDS – Customers can compare solutions • When you deliver – They will REFERENCE each other • Leads to… – Initial Beachhead 36
  • 37. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Get to common Problem / NEEDS • Vertical – Automotive Vertical – Financial Services Siz – Government e Problem/NEED • Size S – Consumer – SMB – Enterprise • Problem / NEEDS – E.G. Regulatory Approval Process • Applicable Across Pharma, Fin Services, Govt, etc 37
  • 38. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker 38
  • 39. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker Field Workers vs. White Collar 39
  • 40. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker Field Workers vs. White Collar Services vs. Sales 40
  • 41. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker Field Workers vs. White Collar Services vs. Sales Medical Equipment vs. Office Equipment 41
  • 42. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker Field Workers vs. White Collar Services vs. Sales Medical Equipment vs. Office Equipment Hospitals vs. Medical Clinics 42
  • 43. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Targeting Segmentation Example, seeking Critical Need Mobile Professionals vs. Office Worker Field Workers vs. White Collar Services vs. Sales Medical Equipment vs. Office Equipment Hospitals vs. Medical Clinics Critical Care vs. Diagnostics 43
  • 44. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret Don’t be afraid to FOCUS! • Narrow as possible to start! – Think Beachhead (Geoffrey Moore) • Which would you rather… – Expand on success? – Contract on failure? 44
  • 45. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 45
  • 46. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets The Startup Marketing & Sales Cycle Awareness Interest Understanding Engagement Trial Purchase 46
  • 47. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Target, Segment AND Startup Secret: Personify ―Actors‖ Awareness Actors Interest Segment Understanding Target Engagement Trial Purchase Underserved, Uniquely valued 47
  • 48. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Customer ―Actors‖ Change Through ―Stages‖ Awareness Customer ―Actors‖ Actors Interest • Visionary Segment Understanding • Technocrat STAGES Target Engagement • Operator • Influencer Trial • Economic buyer Purchase Underserved, Uniquely • Decision maker valued 48
  • 49. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Ultimately figure out Customer DMU: Decision Making Unit Awareness Customer ―Actors‖ Actors Interest • Visionary Segment Understanding • Technocrat STAGES Target Engagement • Operator DMU? • Influencer Trial • Economic buyer Purchase Underserved, Uniquely • Decision maker valued 49
  • 50. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Qualify Early AND Often • Qualify early Target – Save all the $, Time and Focused Resources early in the process – Opportunity cost for another Segment suspect • Qualify often (things change) Awareness Customer ―Actors‖ – Create lead scoring, nurturing programs Interest • Visionary • Technocrat “SCENES” Understanding • Marketing qualifiers: Tie to • Operator Targeting & Segmentation DMU Engagement – Narrow criteria = easy • Influencer qualification • Economic buyer Trial • Decision maker • Sales qualifiers: Purchase – MANACT : Money, Authority, Need, Ability, Competition, 50
  • 51. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 51
  • 52. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets ―Driving‖ Startup Marketing & Sales YOU Control Neutral GEARS to build Momentum Awareness Interest Understanding Engagement Trial Purchase Overdrive 52
  • 53. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets ―Driving‖ Startup Marketing & Sales YOU Control Customer Controls Neutral Accelerator / Brake / Clutch GEARS to build Momentum Awareness Interest Understanding Engagement Trial Purchase Overdrive 53
  • 54. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Your controls: Gears in the sales cycle • Gears to build momentum – Why the analogy? • Because it’s tough to go from 1st gear to 5th gear in one step – likewise it’s tough to skip steps in a sales process • Don’t stay with a gear too long when accelerating – you’ll over rev the engine = same with customer = instead… – Engage a new Gear (sales or marketing tool) every time the customer puts the clutch in • Measure whether it enables customer to accelerate & build momentum for the sale 54
  • 55. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Customer’s Controls: ABCs of sales cycle Accelerator – Accelerates the customer from one step to another – – e.g. SLIPPERY product, things like self service, free trials etc. Brake – Stops the customer moving from one step to another – e.g. lack of understanding of your solution, poor competitive positioning – DON’T assume it’s price! (ACTIVELY LISTEN to carefully dissect sales objections, recognize sales stops / starts) Clutch – Is engaged when the customer doesn’t know what the next step is, or there’s inertia and risk causing a stalled sales cycle 55
  • 56. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Proof Connecting it to CUSTOMER Gain/Pain Ratio Neutral Awareness Interest Understanding GEARS Engagement Accelerator Trial Purchase Overdrive 56
  • 57. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Proof Connecting it to CUSTOMER Gain/Pain Ratio Neutral Customer Gain: Awareness • Revenue Interest • Cost savings • Time Understanding GEARS • People Engagement Accelerator • Competitive advantage Trial • Reputation Purchase • Etc.. Overdrive Gain 57
  • 58. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Proof Connecting it to CUSTOMER Gain/Pain Ratio Neutral Customer Gain: Awareness Customer Pain: • Revenue • See, (Find) - Awareness Interest • • Try - Engagement, Trial Accelerator / Brake Cost savings • Time Understanding • Buy – Price, Package, GEARS • People License Engagement • Competitive • Fly - Implement, Deploy advantage Trial • Own, (TCO) – Service, • Reputation Support Purchase • Etc.. Overdrive Gain Pain 58
  • 59. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Proof Connecting it to CUSTOMER Gain/Pain Ratio Accelerator / Brake / Clutch Neutral Customer Gain: Awareness Customer Pain: • Revenue • See, (Find) - Awareness Interest • Cost savings • Try - Engagement, Trial • Time Understanding • Buy – Price, Package, GEARS • People License Engagement • Competitive • Fly - Implement, Deploy advantage Trial • Own, (TCO) – Service, • Reputation Support Purchase • Etc.. Overdrive Inertia, RISK on a startup : • Switching costs? • Default = do nothing • Alternatives? • Good enough = good enough! Inertia, Gain Pain RISK 59
  • 60. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Relating to Business Model CORE, levers & multipliers Awareness Interest Understanding Engagement Trial Purchase Multipliers s Lever CORE 60
  • 61. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Relating to Business Model CORE, levers & multipliers Multiplier Examples Neutral Sales & Marketing Awareness  Tiered Pricing Interest  Freemium  Channel partners Understanding GEARS Product  SLIPPERY products * Engagement  ―Russian Doll‖ Packaging * Trial  Technology stacks Purchase  WHOLE product Overdrive ACCELERATE In the Sales Multipliers Cycle s Lever CORE 61
  • 62. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Driving Marketing & Sales Relating to Business Model CORE, levers & multipliers Multiplier Examples Lever Examples Accelerator / Brake / Clutch Neutral Sales & Marketing Awareness Sales & Marketing  Tiered Pricing  Web Interest  Freemium  Inside sales  Channel partners  Inbound Understanding GEARS Product  Referencing, viral  SLIPPERY products * Engagement Product  ―Russian Doll‖  Support Packaging * Trial  Services  Technology stacks Purchase  WHOLE product  WHOLE product Overdrive ACCELERATE Reduce In the Sales BRAKES Multipliers Cycle In the Sales Cycle s Lever CORE 62
  • 63. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Road Test: put it all together Reduce Brakes, let out Accelerate in Gear via Clutch • Automation • Time • NOT people dependent • People • Self service for the • Resources customer Engage levers Use Multipliers • Distill to repeat & scale • SLIPPERY product • Eg Videos, Podcasts • Russian Doll packaging • Self service portals, Knowledge bases, (Around your Configurators CORE Value Prop) 63
  • 64. Go-To Market Strategy & Planning Mark Lorion, CMO Apperian. Previously VP Marketing Spotfire Analytics Division TIBCO Software
  • 65. Our go-to-market planning Corp and Division Objectives Playbooks Yearly executed & Business & Segmentation evaluated Marketing quarterly Plan “Plays” (limited set of cross-functional Platform initiatives  org Roadmap alignment and scale)
  • 66. Our go-to-market map (2010 sample) The “Plays” Channels Play APJ FSI Play (China) Viral + Awareness Play ($$$) LS Play LS Play Manufacturing (research) (clinical) LS Play EU Energy FSI Play (research) CPG Telco LS Play Channels Play Manufacturing TIBCO Play (clinical) CPG LS Play US FSI Play Energy (research) Telco Government LS Play Channels Play Manufacturing TIBCO Play (clinical) “Silver Spotfire” ($$) $0 (Sales driven) $ $$ $$$ Relative Marketing Programs Investment
  • 67. Driving Sales and Marketing at Spotfire… Risk & Financial Services Play (2010 Sample) OVERVIEW TACTICAL OPTIONS Objectives: Demand Support  Sell risk analytics solutions to banks, I-banks, Insurance Co.,  Conferences: RiskMinds Geneva, GARP NYC 2/10 Asset managers, Hedge funds, and corporations  Outbound: telemarketing program to reach named list of  REVENUE POTENTIAL: ____ prospects, email db and lists for webcast series  EXPECTED INVESTMENT: ___  Inbound: Develop thought leadership content – Magazine articles, speaker slots at events, purchase magazine space for Audience columns/editorials; consider blogging series on Cap Markets  VP, Group Risk Mgmt, VP Cap. Mgmt, Trading Management trends re Risk at major banks  Web—PPC, Banner ads (GARP, MashRisk Network, others),  Head of-- Modeling and Research/Actuarial Team/Trading rationalize website and upgrade concentration of keywords Message:  Webcasts -- SF/S+ risk related series, 1/mo, RiskCenter, Fierce  Respond to changing competitive and regulatory landscape more Finance email blast for each event; E&Y compliance series, 6/yr, quickly, effectively and confidently audience is across verticals; Reuters, 3/yr SF use as embedded provider of visual analytics  Empower analysts and decision makers to explore and interrogate data to gain more complete understanding Equip Sales:  Deploy real-time data processing and visual /statistical analytics to  New ―solution‖ demos are required with support kits – based off uncover/discern hidden trends in data XYZ customer deals in 1H’09 Offering:  Flash tours (4) Develop between 12/09 and 6/10  Enterprise Risk Aggregation ―solution‖  A dedicated presales resource needed in each major GEO!  Credit risk modeling and performance monitoring ―solution‖  Bloomberg subscription (share cost with Energy Play) Primary Competition: Partners/Resellers/OEM:  SAS, @Risk, FactSet, R, MatLab, SPSS, Algorithmics  Leverage ptship with Reuters, CapitalIQ for go-to-market programs  Internal apps (Excel, Homegrown applications)  Enable resellers with sales kits and investigate co-mkting oppty Competitive Edge: Product Enhancements:  Open, adaptable, and scalable modeling platform  Updating time series data; 3d surface plots; Standard distribution reference curves; Custom calendar capability; Weighted average,  Fast, intuitive multi-dimensional, user-driven visualizations cumulative return; Productize FinMetrics and NuOpt; Bloomberg  Complete data spectrum capabilities – from inputs, quality, Data connection (1-Historic data, 2-’real time’ data) analysis, to post-processing reporting and visualizations  Greater range of visualization and computational capabilities
  • 68. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 68
  • 69. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets ROME Results Oriented, Measured Execution • You can’t manage what you can’t measure • Measure every step Awareness – Time – People Interest – Other resources Understanding • Conversion rates Engagement – Accelerators Trial – Brakes – Clutch Purchase – Gears 69
  • 70. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Drill down - Marketing & Sales lead lead lead lead lead lead Awareness $,Time, Resources Interest Conversion rate % Understanding Break down measurable, manageable Engagement steps Trial Purchase ULTIMATELY: $, Time, Resources Conversion rate % Customer 70
  • 71. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Marketing & Sales - FLOW lead lead lead lead lead lead lead lead lead lead lead Awareness Interest Understanding Seamlessly linked steps, that incent customers to Engagement flow from one step to another Trial Purchase Customers 71
  • 72. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret : Reverse Engineer $,Time, Awareness Resources Interest Conversion rate % REVERSE Understanding ENGINEER THE FUNNEL Engagement ULTIMATELY: Trial $,Time, Resources Purchase Conversion rate % 72
  • 73. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Startup Secret: Closed Loop, Web $,Time, Resources Awareness Conversion rate % Interest Understanding Closed Loop Engagement via Web Trial Purchase ULTIMATELY: $,Time, Resources Conversion rate % 73
  • 74. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets The Web: Changes (nearly) everything Positives: Negatives: • Measure everything • One click away • Closed loop  Competitors  Distractions • Lower cost Closed Loop via Web Virtual Sales, Marketing, Services Don’t forget the human factors  Webinars  Personal touch  Video  Relationships – better real than virtual!  Podcasts  Experiential learning is invaluable 74
  • 75. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 75
  • 84. CREATE CONTENT • Blog Posts • Info graphics • Videos • E-books • White papers • Reports • Calculators • Freemium Appl • Grader
  • 88. LINKS ARE TO THE INTERNET AS DOLLARS ARE TO THE ECONOMY @BHalli gan
  • 93. Better More Usage Personalizati on Better Better Value Conversion
  • 97. MIT 15.S16 Special Seminar in Management: Entrepreneurial Product Marketing and Development (Spring)
  • 98. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Inbound vs. Outbound ? $1M OUT-bound $500k Deal Size $100k $50k Hybrid ? $10k IN-bound $0 98
  • 99. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets When some Outbound Marketing Makes Sense for the Startup Mark Lorion @mark_lorion Apperian, CMO RESOURCE ONLINE AT http://mjskok.com/resource/gtm-outbound-marketing 99
  • 100. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 100
  • 101. Building a SALES & MARKETING MACHINE FUNNEL DESIGN AND OPTIMIZATION CAC ROI by Viral Lead Coefficient Time to Source Recover LTV CAC Churn Rate Viral Cycle Conversion Time Rate
  • 102. 1 st THE BASICS OF FUNNEL DESIGN
  • 103. Expand Suspects Closed Deals Upsell Cross sell
  • 104. IN A PERFECT WORLD… 1 Step
  • 105. IN A PERFECT WORLD… MyProduct.com DESCRIPTION HOW IT WORKS Our product allows you … Only $9,999.99 BUY NOW!
  • 108. THE BUYING CYCLE PURCHASE CONSIDERATION CLOSED DEAL AWARENESS
  • 109. TRIGGERS • Moving house • Movers, phones, cable TV, furniture, insurance, etc. • Starting a new software project • PaaS (Platform as a Service), Dev Tools, etc. • Need to hire a lot of new employees • Applicant Tracking System • Just lost my data in hard drive crash • Backup software/service • Read about a new scary computer virus • Anti-virus software
  • 110. AN ORGANIZATIONAL METAPHOR FOR THE KEY FUNNEL STAGES SALES MIDDLE OF THE FUNNEL CLOSED DEAL TOP OF THE FUNNEL
  • 111. WHAT IS TOP OF THE FUNNEL? customer is not aware customer has a they have a problem, or problem and is that your product looking for a solution category exists GENERATE GET FOUND AWARENESS
  • 112. WHAT IS THE MIDDLE OF THE FUNNEL? QUALIFY MQL (MARKETING QUALIFIED LEAD) NURTURE
  • 113. WHAT IS THE MIDDLE OF THE FUNNEL? QUALIFY MQL (MARKETING QUALIFIED LEAD) NURTURE • Blog • eMail Campaigns • Webinars Wait for a Trigger • Free Trials • Newsletters Or try to create a Trigger • etc.
  • 114. THE BUYER CONSIDERATION ADDRESS THEIR QUESTIONS & CONCERNS • Will this work for my situation? • Is it the best product in the market? • Is it a safe choice? (Who else is using it?) • Will I get a return on my investment? • Is it scalable, secure? • Is it easy to implement? • Will I get good support? • Etc.
  • 115. MEASURE "IF YOU CAN NOT MEASURE IT, YOU CAN NOT IMPROVE IT." - LORD KELVIN
  • 116. WHAT TO MEASURE FOR EACH STEP / ACTION: NO OF ACTIONS % CONVERSION RATE TIME TIME
  • 117. THE KEY METRICS CAMPAIGNS TO DRIVE TRAFFIC VISITORS OVERALL CONVERSION CONVERSION % % TRIALS CONVERSION % CLOSED DEALS
  • 118. Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects BUT EVEN IF YOU ARE MICROSOFT, CISCO, ORACLE, OR GOOGLE YOUR FUNNEL WILL HAVE BLOCKAGE POINTS
  • 119. 3 IMPROVE
  • 120. IN DIAGNOSING MANY FUNNEL BLOCKAGE POINTS, I HAVE FOUND THAT THERE IS A CLEAR PATTERN…
  • 121. YOU ARE HOPING YOUR CUSTOMERS WILL DO SOMETHING THAT THEY ARE NOT MOTIVATED TO DO
  • 122. IN OTHER WORDS… YOU DESIGNED YOUR FUNNEL THE WAY YOU HOPED IT WOULD WORK… BUT YOU MAY NOT HAVE THOUGHT ENOUGH ABOUT THE CUSTOMER’S POINT OF VIEW
  • 123. JBOSS EXAMPLE PUT A REGISTRATION FORM ON THEIR WEB SITE BEFORE A FREE DOWNLOAD IMPACT CUT THE DOWNLOAD RATE BY MORE THAN 10X
  • 124. GET INSIDE YOUR CUSTOMER’S HEAD FRICTION CONCERNS
  • 125. UNDERSTAND WHAT MOTIVATES THEM FRICTION CONCERNS MOTIVATIONS
  • 126. JBOSS EXAMPLE • Making $27,000 a month selling documentation • Solution: • Give away documentation to get their email address
  • 127. EXAMPLE: DRIVING TRAFFIC TO YOUR WEB SITE GETTING FOUND Not going to find your site unless: friction & - On top page of Google concerns search results - Recommended by a trusted source - Referred to in social media or blogosphere
  • 130. LESSONS FROM WEBSITE GRADER • Free tools drive viral spread • Low customer work required • High value delivered • Score leverages competitive urge, and acts as a trigger • Builds trust through clear demonstration of expertise
  • 131. using engineering for marketing
  • 132. First Contact Sell Build Build First Contact Sell Relationship Trust
  • 133. OFTEN NECESSARY TO FIND TOPICS THAT ARE NOT RELATED TO THE SALE Build Build Relationship Trust First Contact Sell
  • 134. SELLING IS 10X EASIER… ONCE YOU HAVE ESTABLISHED TRUST
  • 135. THE KEYS TO SUCCESS THE BUYER GET INSIDE YOUR BUYER’S MIND
  • 136. For More information  Visit my blog at www.forEntrepreneurs.com
  • 137. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Agenda Strategic 1. Brand 2. Positioning 3. Targeting, segmentation Tactical 1. The Marketing and Sales Cycle 2. Driving to market 3. Results Oriented, Measured Execution Execution – introductions to key areas 1. Inbound 2. Building your GTM machine 137
  • 138. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Recap Marketing & Sales Strategies Audience Cycle Tactics Channel Awareness Brand Direct vs. Targeting, Channel Segmentation Interest Positioning OUTbound / INboound Messaging Channel Personas Understanding Development, Social Management, Actors/Scenes Media Etc. Engagement PR Strategic Trial Services Partners References Purchase • Results Oriented, Metrics, Execution Driven • Continuous Iteration & Improvement 138
  • 139. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets What we did we NOT cover, case examples on www.mjskok.com • Brand elements • Channel / Distribution • Services, Professional Services • Guerilla Marketing – when you’ve got no $! • To come – Connection with business model – Whole product – Strategic partnering 139
  • 140. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Key Points to Remember • Manage your brand from the start • Position to be unique • Target & segment around customer needs • Think about ―driving‖ your marketing & sales cycle • GTM is both strategic and tactical • But it is ultimately about ROME 140
  • 141. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Remember, ROME wasn’t built in a Day Nor will your GTM strategy and tactics be – R esults Listen – O riented GTM Learn – M easured Business Lead Model Iterate – E xecution Pivot – D riven through iteration • Results Oriented, Metrics, Execution Driven • Continuous Iteration & Improvement 141
  • 142. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Building an enduring company: GTM is a key part of your Execution Vision Executio Listen n Peopl Learn Value Lead e Prop Iterate Pivot Startup Enduring Cultural Consistency Compan y 142
  • 143. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi www.mjskok.com #innovationlab @mjskok #startupsecrets Thank you… • Apperian Follow online – Mark Lorion www.mjskok.com • Demandware @mjskok – Jamus Driscoll /mjskok • Hubspot linkedin.com/in/mjskok – Brian Halligan bit.ly/mjskok-google • Matrix partners bit.ly/mjskok-youtube – David Skok 143
  • 144. Harvard innovation lab : Michael J Skok : Startup Secrets : Go To Market Hi Hi Harvard innovation lab #innovationlab @mjskok #startupsecrets www.mjskok.com START UP SECRETS An insider’s guide to unfair competitive advantage Going to Market MICHAEL J SKOK North Bridge Venture Partners twitter: @mjskok mjskok.com 144

Editor's Notes

  1. 67 Billion – business week 2009, most valuable brand in the world.
  2. This is always a fun section. Entrepreneurs often claim they have no competition because the idea is so unique. While that may indeed be true, it’s unlikely that you won’t have competition for at least the dollars that the customer has to spend on either existing approaches or alternatives.So what helps here is to describe very clearly what your unique differentiation isThen be clear what barriers there are to others following you. Technology is one obvious differentiator to bring out, but don’t forget others For example your business model, which may include your pricing advantage or your open source development capability or your ability to partner and or open up new channels. Other sustainable advantages may include the network of users you build up or the data being collected.  In the end all these may be  as compelling as your technology differentiation, and more important as a barrier to entry for competitors.
  3. There may be many ways to express your unique positioning, but I’m a believer in pictures - in case you hadn’t already figured that out ;) So here’s the kind of simple picture I recommend using to clearly position yourself. The key to this particular diagram is the axes you choose. Suffice it to say you want to end up in the top right, positioned to win in a unique whitespace. Here bubble sizing is for relative size of competitors a,b,c,d.Catch me in person and I'll tell you the real key is to find a way to explain why the competitors just can't cross the barriers in this diagram to even enter the top quadrant. Then you know you're really onto a winner.It's a subject unto itself for a drill down, but you need to be able to get across the white space you have identified
  4. Disruptive to the industry and the competition and NOT the customer (remember the gain/pain ratio)
  5. 5th U - Unique
  6. a set of actual or potential customers for a given set of products or services who have a common set of needs or wants, and who reference each other when making a buying decision.Moore, Geoffrey A. (2009-03-17). Crossing the Chasm
  7. W/ Inbound, success is much more about the width of your brain than the width of your walletTrad marketing – if you had money, you could buy customers through ads, buying lists, hiring a PR firm…every day those techniques work less and less well.Inbound marketing – You use your unique ideas and content to pull people in from se, tw, fb, etc.Inbound is about the width of your brain, not the width of your wallet! Rubbing braincells together, not rubbing greenbacks together.
  8. With inbound, you succeed by creating your own marketing assets not renting space on someone else’s assets.Trad marketing – Here’s the way it works in trad marketing…every month, you take a pile of money and shovel into Google Adwords mouth…just like this. For every dollar in, you might get a dollar ten out, but it is a one time deal. Gotta do it again the next month.Inbound marketing – You create permanent assets that pull in links, twitter followers, fb fans, LI group members etc. Those assets never go away and continue to pull in customers for years and years. It grows like interest in your 401k accountInbound is about creating leverage w/ your marketing dollars.
  9. With inbound, you succeed by loving up your marketplace, not irritating your marketplace.I have a guy at a Software QA co that cold calls me every Monday and Thursday at 8:07am…not only is that technique not effective, but it is ruining his co’s brand.You want your potential customers to love your brand and talk about them like LuLuLemon, Whole Foods, or Charity Water.
  10. 1st part is content…need to think of yourself as a content creation studio – cnn, hbo, pbs.
  11. remarkable
  12. NOTE: Bottom half of funnel
  13. Imperial Palace
  14. Assets – not inventory, machine tools, etc…links, ranks, reach.
  15. In a perfect world, we would hope that we could take our suspected market directly to purchase in one step.
  16. That would be like hoping we could simply put up a web site and expect that people would just find it and immediately buy our product.