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Eric Groves was the number 2 exec at Constant Contact for many years, and led their go-to-market groups. In this presentation, Eric talks about several of the frameworks that they used to define their go-to-market strategy. This talk was given to a set of entrepreneurs in Cambridge, MA, and a video of that talk will be posted shortly on my blog: www.forEntrepreneurs.com.
Grand Total = Market Map (Size / Growth / Segmentation) $375MM $200MM $100MM $75MM100% Other Other Competition 7 Competition 6 Competition 5 Other Competition 475% Competition 3 Competition 2 Comp 3 You Competition 150% Competition C Comp 2 Competition B You25% Comp 1 Competition A 0% Core Product New Product Future Annual Growth 20% 60% 100% 4
Horizontal vs. VerticalBoil the Ocean Laser FocusMarketing Centric Lead Generation Sales Centric Lead Generation Finding The Right Balance: The smaller the Total Addressable Market the higher the dependency on sales for lead generation
Indirect Channel Mapping (Phase 1) Defensive Blocking High Potential Brand Association Integrations Reach Reseller Program Client Services Influence (in purchasing decision)
AIDA into the FunnelUnaware Aware Interest Desire Action That the pain exists In resolving the pain Others like me have overcome the pain Quick “wow” experience that resolves painMarketing & sales aligned to drive prospects through the AIDA curve and intothe sales funnel
Maximizing The Funnel Media Touch Personal Touch Suspects Prospects Engaged “Trialer” Customer Lost Customer Test, Test, Test & Invest: Constant Macro testing and Micro tuning to maximize the funnel
Summary Understand Your Market Who are you selling to? Where do they congregate? Who do they already listen to with regard to the pain you resolve? Get out of the office Don’t listen to others go observe some prospects Test, Test, Test & Invest There is no silver bullet Alter your own perspective before the competition does it for you
Engagement “Bridges” - Revolutionize Acquire Connect Inform Grow Search Website POS Facebook Directo Ratings & Email Twitter ry Reviews Offers / Website Forward Deals Facebook s WoM Face2Face Shared Twitter / Phone Coupons Engagement Bridges 1. Opportunities to further the relationship beyond the task at hand. 2. Lead both sides to the optimal (highest value) relationship 3. Require knowhow and coaching to maximize potential 4. Enable continued engagement (online to offline and vice versa) 5. Revolutionize success Aware Interest Desire Action Empower 14 14
Engagement “Platform” Acquire Connect Inform Grow Need: Get found by the Need: Be open and Need: Deliver a great Need: Have my right audience demonstrate value experience and sustain customers refer me toBusiness Small it post-purchase others Higher ROI to Small Business Search Website POS Facebook Director Ratings & Email Twitter y Reviews Offers / Website Forward Deals Facebook s WoM Face2Face Shared Twitter / Phone Coupons More Value to Consumer Consumers Want: Find the right Want: Be able to see Want: Have a great Want: Share my provider what others think: experience, with good experience & 1. People like me value and want to go knowledge to be 2. People close to back for more known as informed me consumer Aware Interest Desire Action Empower 15 15