Launching emerging tech, products, and businesses into the best orbit.
Yet… when it comes to launching (going to market), and then accelerating revenue growth (through marketing, business dev and sales), companies of all sizes, but especially start-ups and scales-ups, usually need more expertise and methodology than they often use.
Launching successfully an emerging product or business?
Very much like launching a satellite: you need a launchpad and a rocket, to reach the correct orbit and get orbital velocity. The goal is of course to exploit this satellite’s capabilities, and maximise revenue growth. Get anything wrong: at worst, your business may crash; at best, it will be highly dysfunctional (high investments, low results).
Although execution is key and always a main challenge, building a strategy and a plan is mostly about focus and getting both the overall picture and the details right. In a very condensed summary (a nutshell…), we explain some of the key aspects to choose the launchpad, the rocket, the ideal orbit, the position and beam coverage, and last but not least the satellite efficient commercial development.
Build your detailed strategy, based on this overall go-to-market map:
1 – Matching your offering (its value proposition) with your market: a market can usually be measured (what is its size, its value); it is made of different segments (that you want to identify), which are made of customers. It is a good and much needed investment of time and resources, especially at early stage, to figure out the details of markets, segments, and customers, as choice and focus is needed here. While you could potentially (?) serve anyone, you can’t afford to be all over the place.
When it comes to prioritizing, choices must be made between large vs. niche (either can be right depending on your positioning and goals), easy vs. challenging, where the big/easy money is, market and customers’ need and the match with your product, etc.
2 – Identifying your clients: a subset of your market segments, assessing who your potential clients are requires as much attention, with as much granularity as possible (usually high granularity in B2B), and again prioritization based on the above criteria’s, but also your proximity to them (in other words, how are you already connected to them).
3 – Looking through the lenses of 3 channels:
– Product value: where/how does your product value match and fit with customers’ needs?
– Marketing: where/how/when do your customers get their information?
– Sales: where/how/when do your customers buy?
4 – Understanding the touch points and moments of truth: where does your product offering meet the clients’ needs, mostly from communication, marketing, and distribution standpoints. What gives the customer an opportunity to form (or change) an impression about the firm, and most important, what prompt them to make a purchase decision.
When the above homework is done (rather than the other way around), it does offer clarity to build the final steps of your go-to-market process:
5 – Creating relevant messaging and designing efficient content: around the key benefits, what do you want to tell, simply and efficiently, that your potential clients are interested in? How do you want to package that messaging?
6 – Choosing the appropriate tools for sales and marketing: the good (and bad) news, is the unlimited set of tools at your disposal, online and offline, hyper-targeted or broad reaching (mobile/online advertising, email, social medias, professional social medias, professional medias, TV/radio, leaflets, events, traditional direct marketing, etc.).
As by now you know your market segments, your clients’ target, the channels and touchpoints, you can easily select the relevant sales and marketing tools based on your budget.
7. Building the infrastructure/resources: falling in the “launchpad” category, it doesn’t need to be a priority, if you can rely on an expert to can make the job for you.
Warning! This is a disciplined, rigorous, detailed, and systematic approach (which we have here stripped down to the bare bones) that leaves little space to poor improvisation. There is no need to fly all over the world and be all over the place to get small contracts, when the first step to success is very local and very niche.
Revenue growth acceleration…
Once your product is in perfect orbit and delivers its service, making the most of your “satellite” commercial potential is the next step.
1 – To a large extent, the above mapping remains relevant, and the most obvious source of growth is often external. For instance, pursuing a neighbouring market segment when the first one has largely been tapped (a B2B service that has been targeting a single vertical to start with). Or geographic expansion, for example when the start was very local (a consumer mobile app linking tradesmen with residential customers).
2 – Internally: too often, companies scale-up by just adding additional resources, when reviewing and revamping the whole marketing and sales process makes it much more productive.
3 – Product: the usual suspect of revenue growth limitation, it should not be the scapegoat of poor go-to-market or poor marketing and sales strategy (and bad execution). However, the alignment of a robust roadmap and effective product development with great sales and marketing is a recipe for strong revenue growth.
We will detail what a successful methodology looks like in another paper.
It is not rocket science; and it is rocket science!
Is this short summary either too simplistic or too complex for you? We are happy to discuss thoroughly the detailed approach that will be most relevant and efficient for your own business. Learn more about go-to-market and revenue growth strategy and execution with our training, consulting, hands-on support. Contact us at firstname.lastname@example.org, and we will do a free assessment. Expertise and experience make a difference.