first “go-to-market” steps for...
TRANSCRIPT
![Page 1: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/1.jpg)
7First “Go-to-Market” Steps
for Entrepreneurs
Pradeep AnandMarch 2016
[email protected]; +1 281 797 0797; www.seeta.com
![Page 2: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/2.jpg)
Focus: Successful Commercialization of Technologies in B2B/Oilfield/Industrial MarketsMentor/Develop/Teach
• Vice-President, Marketing, Landmark Graphics
• Manager, North American Operations, Baker CAC, Baker Hughes
• Marketing/Business Development Manager, LWD/MWD, NL Sperry-Sun
• Oil & Gas – AirXChangers, Baker Hughes, Baroid Corporation, Daniel Industries, Dresser Industries, Dresser Oil Tools, Key Energy, InnovationNorway, Integrated Exploration Systems (Germany), Landmark Graphics, NL Industries, Numar, Oildex, OFS Portal, Oildex, Petrabytes, Photon, PGS-Tigress, Praxis, Preng & Associates, Sigma Cubed, Sperry-Sun, Object Reservoir (US Venture Partners), Volumetrix
• Engineering/Manufacturing — Aggreko, Astralloy, CompX, Continental Carbon, Excell Minerals, Express Integrated Technologies, Fabsco, Fort Lock, Gundle/SLT Environmental, Harsco Corporation, Harsco Industrial, Harsco Infrastructure, Harsco Metals & Minerals, Harsco Track Technologies, Hendrickson Trailer, IKG Industries, Metal Networks, MultiServ, National Cabinet Lock, Nutter Engineering, Ohmstede, OnePoint, Patent Construction Systems, Patterson-Kelley, Reed Minerals, SGB, SteelPhalt, VisionMonitor Aviation Software, Viswa Lab, Waterloo Furniture Components
• Technology — AMD, Sun Microsystems, Wipro, Syntel, WNS, FuelFX, Gnosys, Management Controls, Metasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch
• Other — Kanaly Trust, Fort Bend Independent School District, American Sleep; Willy, Nanayakkara, Rivera & Goins
• Adjunct Faculty, Rice University’s MBA Program: Teach “Marketing in the Energy Industry”; Commercializing Technologies in the Oil & Gas Industry
• Engineer (IIT Bombay) + MBA (University of Houston)
Sin
ce 1
99
4
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 2
![Page 3: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/3.jpg)
Pradeep Anand
• Developed and improved proprietary Go-to-Market and Pricing Effectiveness processes over more than 30 years
• Have applied these processes to more than sixty business units in North America and Europe
• Facilitated large and small groups of professionals of varied backgrounds
• Adjunct Faculty, Rice University’s MBA Program: Teach “Marketing in the Energy Industry”; Commercializing Technology in the Oil & Gas Industry
• Mentor startups in the Greater Houston area, with a focus on "Go-to-Market" strategies & tactics for startups, “Pricing Effectiveness" and Customer Contacts
3© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 6: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/6.jpg)
Why am I here?I hope I can help make your journey easier
6© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 8: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/8.jpg)
Principle 1. Purpose of a Business
8© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Deliver Value to Customers
Realize Value for Stakeholders
• Revenue Addition• Cost Reduction• Improve Return on Capital
Benefits
Value
Products Services
Pricing Effectiveness
Price on Valueand
What the Market can Bear
Get & Keep Right Customers
![Page 9: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/9.jpg)
Principle 1. Purpose: Create Value Growth
9© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Deliver Value to Customers
Realize Value for Stakeholders
• Revenue Addition• Cost Reduction• Improve Return on Capital
Benefits
Value
Products Services
Pricing Effectiveness
Price on Valueand
What the Market can Bear
Get & Keep Right Customers
![Page 10: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/10.jpg)
Principle 1. Purpose: Create Value Growth
10© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Deliver Value to Customers
Realize Value for Stakeholders
• Revenue Addition• Cost Reduction• Improve Return on Capital
Benefits
Value
Products Services
Pricing Effectiveness
Price on Valueand
What the Market can Bear
Get & Keep Right Customers
![Page 11: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/11.jpg)
Principle 2. Increase Market Value
11© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Market Value
MultipleX
Earnings
IncreaseMargins
IncreaseQuality Revenue
ReduceCost
Introduce New Products
Enter New Markets
Increase Market Share
Improve Pricing Effectiveness
Take Advantage of Market Activity
![Page 12: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/12.jpg)
Principle 2. Five Ways to Increase Revenue, Margin and Market Value
12© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Market Value
MultipleX
Earnings
IncreaseMargins
IncreaseQuality Revenue
ReduceCost
Introduce New Products
Enter New Markets
Increase Market Share
Improve Pricing Effectiveness
Take Advantage of Market Activity
![Page 14: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/14.jpg)
3. Go-to-Market Process
14© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Competition
Customers
Company
Climate
Strategy&
Tactics
Where are we? Where can/should we go? How do we get there?
![Page 15: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/15.jpg)
3. Go-to-Market Process
15© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Competition
Customers
Company
Climate
Strategy&
Tactics
4Cs
5Gs
3Qs: Where are we? Where can/should we go? How do we get there?
![Page 16: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/16.jpg)
3. Process: Answer 3Qs, Start with 4Cs to Execute 5Gs
16© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 07973Qs
4Cs 5Gs
![Page 17: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/17.jpg)
Principle 4. Your Market Team Mining Tacit Information & Tribal Knowledge
17© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Competition
Customers
Company
Climate
![Page 18: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/18.jpg)
18© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 19: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/19.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Principle 5: Please Aim Before You Shoot!
19
Shoot!Aim!
![Page 20: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/20.jpg)
7 First “Go-to-Market” Steps
Without sacrificing your future value
20© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 21: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/21.jpg)
Seven First “Go-to-Market” Steps
1. Where’s the money?• With your customers• With your competition
2. Why do customers buy from you or your competition?
• A unique, trusted source who delivers value
21© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 22: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/22.jpg)
Step 1. Answer the Question:Where’s the Money?
22© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 23: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/23.jpg)
Where’s the money?With the RIGHT customers
23© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Competition
Customers
Company
Climate
![Page 24: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/24.jpg)
Where’s the money? With the RIGHT customers
24© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Yes Perhaps N0
Need
Budget
Intent
![Page 25: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/25.jpg)
$
NEED
Where’s the money? With the RIGHT customers
Customers /
Product/Service=>
Necessity Nice to
have
Postponable Expendable
Budget-N/Intent-N
Budget-P/Intent-P
Budget-Y/Intent-P
Budget-Y/Intent-Y
Focus
25© Pradeep Anand; [email protected]; www.seeta.com; +1 281 265 9301
![Page 26: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/26.jpg)
26
Where’s the money?With the RIGHT customers
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 27: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/27.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Where’s the money?With the RIGHT customers
27
Need
Intent
Budget
Ideal
Customer
High
High
High
![Page 28: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/28.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Where’s the money? With your competition
•Types of competition• Direct• Indirect
• Substitution
• Adjacencies
•Waste• Suppliers• Customers
•Each is an opportunity
28
Competition
Customers
Company
Climate
![Page 29: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/29.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Customer Segmentation
• Important for:• Selecting right target customers• Focusing resources• Reducing waste• Increasing probability of success• Accurate product positioning• Accelerate “Speed to Market”
29
![Page 30: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/30.jpg)
Sizing Markets:
30© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
SOM=Serviceable Obtainable Market. Portion of SAM that you can capture
![Page 31: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/31.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Market Size Calculation
•Precise accuracy of a market assessment difficult• Methods of arriving at market size are generally
subjective• Rarely derived from statistically valid samples• Triangulate to the right answer with multiple sources
•Speed versus Accuracy• Small versus Large investment• Preliminary scan of generic segments versus smaller sub-
segments
31
![Page 32: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/32.jpg)
Step 2. Answer the question: Why do customers buy from you or your competition?
32© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 33: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/33.jpg)
Why do customers buy from you?
You are
a Unique, Trusted source
who delivers
Value
33© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 34: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/34.jpg)
Why do customers buy from you?
34© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Value
Unique
Trust
You!
Yes
High
High
![Page 35: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/35.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Be Unique
• It’s a Battle for Distinctive Mindshare
•Be Different in Important Ways
•Design your image and value so that your targeted segment’s customers understand what your company stand for with respect to your competition
35
![Page 37: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/37.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Be Unique:Competitive Product Positioning
For the: (Target Segment)
Who Needs:
Firm/Product is a: (Category)
That provides: (List of compelling reasons to buy)
Unlike competition (Name), the company/product, also provides:
– List of key differentiators
•Features
•Benefits
37
![Page 38: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/38.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Value: Defining Value
Value=Benefits – Cost
38
$Cost Reduction
Revenue/Margin Increase
Return on Capital Improvement
$
![Page 39: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/39.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Be Unique in Important WaysCompetitive Positioning + Value
For the: (Target Segment)
Who Needs:
Firm/Product is a: (Category)
That provides: (List of compelling reasons to buy)
Unlike competition (Name), the company/product, also provides:
– List of key differentiators
•Features
•Benefits
39
Value
Cost Reduction
Margin Increase
ROI Improvements
![Page 40: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/40.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Why do customers buy from you? Trust
• Buyer’Personal Factors• Risk Tolerance• Level of Adjustment• Relative Power
• Situational Factors• Security• Number of Similarities• Alignment of Interests• Benevolent Concern• Capability• Predictability & Integrity• Level of Communication
40
![Page 41: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/41.jpg)
Why do customers buy from you?
You must be
a Unique, Trusted source
who delivers
Value
41© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 42: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/42.jpg)
Your First Customers
• Someone who knows you or an “unbiased source” who can recommend you• A known entity is far superior to
an unknown or less-known one
• Reduces alternatives
• Knows that you can deliver Distinctive Value
• Trusts you
42© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 43: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/43.jpg)
Building on First Customers
• There are always Alternatives and competitors to you
• Focus on showing Value to the organization• Expertise • Process• Case Studies/Successes
• Focus on Trustworthiness• Clients• References
43© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 44: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/44.jpg)
Step 3. Take Advantage of Market Activity
44© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 45: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/45.jpg)
Take advantage of market activity
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 45
![Page 46: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/46.jpg)
Take advantage of market activity
•Every business has drivers that contribute to its growth• It is the tide that raises all
boats• Your boat and your
competitions’ boats
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 46
![Page 48: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/48.jpg)
The Oil Industry & Me
48© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
1981
1992
![Page 49: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/49.jpg)
The Oil Industry & Me
49© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
1981
1992
![Page 50: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/50.jpg)
Take advantage of market activity
• Every business has drivers that contribute to its growth• It is the tide that raises all
boats• Your boat and your
competitions’ boats
• Macro activity does not convey the whole picture• Both Sperry-Sun and Landmark
Graphics were born during recessionary times in the upstream oil industry--VUT/NBI
• Many early computing companies such as Wang, DEC disappeared during the greatest growth period in the industry--VUT/NBI
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 50
![Page 51: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/51.jpg)
Take advantage of market activity
• Every business has drivers that contribute to its growth• It is the tide that raises all
boats• Your boat and your
competitions’ boats
• Macro activity does not convey the whole picture• Both Sperry-Sun and Landmark
Graphics were born during recessionary times in the upstream oil industry--VUT/NIB
• Many early computing companies such as Wang, DEC disappeared during the greatest growth period in the industry--VUT/NIB
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 51
![Page 52: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/52.jpg)
Step 4. Improve Pricing Effectiveness
52© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 54: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/54.jpg)
Principle 1. Purpose: Create Value Spiral
Deliver Value to Customers
Realize Value for Stakeholders
• Revenue Addition• Cost Reduction• Improve Return on Capital
Benefits
Value
Products Services
Pricing Effectiveness
Price on Valueand
What the Market can Bear
Get & Keep Right Customers
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 54
![Page 55: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/55.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Step 4: Why improve pricing effectiveness?
•There’s not much room left for improving profitability with operational cost controls
• It is the fastest most effective way to increase profits• 1% increase in price=8% increase in operating profit at an
average S&P 1500 company• 50% better than a 1% drop in variable costs• 300% better than a 1% increase in volume
55
![Page 56: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/56.jpg)
OptimumSale
Price
PoorNegotiations
CompetitiveAdvantages
Value toCustomer
CompetitivePricing
Poor Knowledge
FinalSelling Price
XX
Consequence: Profit Leaks
Profit Leak
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 56
![Page 57: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/57.jpg)
Golden Rule of Pricing
Pricing is a function of alternatives
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 57
![Page 58: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/58.jpg)
Make aReasonable Profit
Pricing Sweet Spot
Value-based Market-based
Cost Plus
Process: The Pricing Pyramid
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 58
![Page 59: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/59.jpg)
Make aReasonable Profit
Pricing Sweet Spot
Value-based Market-based
Cost Plus
Process: The Pricing Pyramid
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 59
Customer Cares Customer Cares
Customer Cares Not!
![Page 60: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/60.jpg)
Defining Value
Value=Benefits – Cost
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 60
$Cost Reduction
Revenue/Margin Increase
Return on Capital Improvement
$
![Page 61: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/61.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Be Unique in Important WaysCompetitive Positioning + Value
For the: (Target Segment)
Who Needs:
Firm/Product is a: (Category)
That provides: (List of compelling reasons to buy)
Unlike competition (Name), the company/product, also provides:
– List of key differentiators
•Features
•Benefits
61
Value
Cost Reduction
Margin Increase
ROC Improvements
![Page 62: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/62.jpg)
PositiveDifferentiation
Value
Our NegativeDifferentiation
Value-$
Our Added Value to the Alternative
+$
Cost of Alternatives/Competition
$
HeadroomReference
Value
Competitive Value Price
62© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 64: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/64.jpg)
Increase Market ShareSelling Value Across Sales Cycle
Salespeople
Sales Support
Seminars
Trade Shows
Direct Mail
Advertising
Internet
PR
Awareness Interest Trial Purchase Repurchase
$/C
usto
mer
High
Low
Lock-InValue Pricing
Value Selling
Dem
and C
reation A
ltern
atives
Customer Sales Cycle
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 64
![Page 65: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/65.jpg)
Promotion
•Move customers from Unawareness to Buying Action
• Content is king
• Process• Awareness, Interest, Evaluation, Trial, Adoption, Repurchase• Mindshare precedes market share
• Personal selling is the key component
• Stage of product lifecycle
• Changing customers’ habits
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 65
![Page 66: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/66.jpg)
Influences on Consumer Purchasing
66© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
External InfluencesCultureGroups
Situation
Internal InfluencesPerceptual Filter
AttitudeKnowledgePersonality
LifestyleRoles
Involvement
MarketingProduct
PromotionPricing
DistributionSales
Service
![Page 67: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/67.jpg)
Different in Important Ways!
67© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
VALUE
UNIQUE
TRUST
![Page 68: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/68.jpg)
Increase Market ShareSelling Value Across Sales Cycle
68© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Salespeople
Sales Support
Seminars
Trade Shows
Direct Mail
Advertising
Internet
PR
Awareness Interest Trial Purchase Repurchase
$/C
usto
mer
High
Low
Lock-InValue Pricing
Value Selling
Dem
and C
reation A
ltern
atives
Customer Sales Cycle
![Page 69: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/69.jpg)
Sales Funnel
• Prospect
• Inquiry
• Lead • Types: Curious, Beginning
of Process, Active Evaluation, Close to Buying Decision• Lead Qualification:• Need• Budget• Authority• Timing
• Proposal/Quote
• First Purchase
• Repeat Customer
• Past Customer
• Lead generation is the key to sales success
• Benchmark the sales funnel
69© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 70: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/70.jpg)
Step 6 & Step 7: New Products & New Markets
70© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
![Page 72: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/72.jpg)
Step 6/7: Enter New Markets + Introduce New Products
First Steps1. Take existing products to
adjacent markets2. Create enhanced products for
existing markets
Secondary Steps3. Existing products to new markets4. New products to existing
markets5. Take enhanced products to
adjacent markets
Tertiary steps6. New Products to Adjacent
Markets7. Enhanced Products to New
Markets8. New Products to New Markets
72© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797
Products
Mark
ets
Existing Enhanced New
Exis
tin
g A
dja
ce
nt N
ew
![Page 73: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/73.jpg)
New Products: Change Customers Habits
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 73
![Page 74: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/74.jpg)
Pick Davids, not Goliaths
Customers Pick first
customers who are closer to death valley
Others don’t have reasons to change habits
Competition Don’t wake up 800
pound gorillas from their slumber
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 74
![Page 75: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/75.jpg)
New Product Failure ModesIncumbents/Value Chain Acceptance
• Underestimation of inertia in organizations and value-chain players
• Benefits to the end user do not always equate to benefits to incumbents in the buying center and value-chain players leading to resistance to adoption
• Product’s performance along the complete value chain creates risk of unexpected delays in uptake
• Buying Center and Value-Chain complexity influences adoption time
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 75
![Page 76: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/76.jpg)
Babe Ruth—I hit where they ain’t!
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 76
![Page 77: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/77.jpg)
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 77
![Page 78: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/78.jpg)
From Small Steps to a Giant Leap
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 78
![Page 79: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/79.jpg)
Most Important!Be Different in Important Ways
© Pradeep Anand; [email protected]; www.seeta.com; +1 281 797 0797 79
![Page 82: First “Go-to-Market” Steps for Entrepreneursseeta.com/documents/GotoMarketPradeepAnand1603.pdfMetasolv, NobleTek, Avalon Imaging, Scicom, Silicus, Laversab, Facet, Zresearch •](https://reader034.vdocuments.mx/reader034/viewer/2022042410/5f28637359ed1835240e2ad6/html5/thumbnails/82.jpg)
Thank you!
7First “Go-to-Market” Steps
Pradeep AnandApril 2015
[email protected]; +1 281 797 0797; www.seeta.com