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GO – TO – MARKET STRATEGY
GO – TO – MARKET STRATEGY • MAKE A PRODUCT • FIND A CUSTOMER • MEET FACE TO FACE • NEGOTIATE • CLOSE THE DEAL • CHECK WITH CUSTOMER – HAPPY/SAD Zulfiquar - NDSM •FIND ANOTHER CUSTOMER 1 WHAT IS A GO – TO – MARKET STRATEGY A GAME PLAN FOR REACHING AND SERVING THE RIGHT CUSTOMERS, IN THE RIGHT MARKETS, THROUGH RIGHT CHANNELS WITH THE RIGHT PRODUCT AND THE RIGHT VALUE PROPOSITIONS Zulfiquar - NDSM 2 PURPOSE OF A GO – TO – MARKET STRATEGY CREATE A POWERFUL WINNING TOTAL CUSTOMER EXPERIENCE THAT WILL ATTRACT, WIN AND RETAIN THE MOST DESIRABLE CUSTOMERS WHILE DRIVING HIGH SALES & MARKET SHARE GROWTH AT THE LOWEST POSSIBLE COST Zulfiquar - NDSM 3 WHAT IS A TOTAL CUSTOMER EXPERIENCE? IT IS A CONTINUING RELATIONSHIP WITH THE CUSTOMER, CONSISTING OF NUMEROUS INTERACTIONS OR TOUCH POINTS THAT BEGIN WITH THE BRAND AWARENESS AND CONTINUE THROUGH THE FIRST PURCHASE, INSTALLATION, CUSTOMER SUPPORT, SERVICES, ONGOING PURCHASES AND LONG TERM CARE. AT EACH AND EVERY POINT THE CUSTOMER HAS AN EXPERIENCE WITH YOUR ORGANIZATION. HOW GOOD? BAD? FANTASTIC? OR TERRIBLE THOSE EXPERIENCE ARE OVER TIME DEFINES YOUR COMPANY IN THE EYES OF THE CUSTOMER AND SHAPES LONG TERM GROWTH OPPORTUNITY. Zulfiquar - NDSM Gere Mcluster – Director Cognis 4 TOTAL CUSTOMER EXPERIENCE EVERY EXPERIENCE WITH YOUR COMPANY HAS TO BE POSITIVE, CONSISTENT, HIGH QUALITY AND MEMORABLE: SEEKING INFORMATON MEETING FACE TO FACE LOOKING AT YOUR WEBSITE CALLING ON THE PHONE Zulfiquar - NDSM 5 GO – TO – MARKET OPTIONS DIRECT SELLING MANUFACTURING AGENTS TELEMARKETING BROKERS VALUE ADDED RESELLERS FRANCHISEES INTERNET TELESALES AGENTS STRATEGIC ALLIANCES TELEVISIONS BUSINESS PARTNERS WEBSITES LOCAL DISTRIBUTORS EMAILS MASTER DISTRIBUTORS EXTRANETS INTEGRATORS Zulfiquar - NDSM E – MARKET PLACE 6 VARIED GO – TO – MARKET STRATEGIES PHARMA KEY ACCOUNTS FOR MAJOR HOSPITAL DOCTORS INDUSTRIAL DISTRIBUTOR MAJOR A/C TEAM FOR LARGE ACCOUNTS FOR NON MAJOR A/C’S RETAIL S/F AT COMPANY BRANCH Zulfiquar - NDSM - - FOR ORDERS & CUSTOMER SUPPORT CUSTOMER SERVICES AND INFORMATIO N HOTLINES TO SUPPORT ALL ACCOUNTS PARTNERS DIRECT SALES FORCE FOR KEY ACCOUNTS ADVERTISE MENT GEO SALES FORCE LARGE CHEMICAL COMPANIES FOR CUSTOMER SUPPLIES INTERNET INDUSTRY TEAMS FOR LARGE ACCONTS IN N/T INDUSTRIES OUT BOUND TELESALES ACCOUNT TEAMS FOR INDUSTRIES WITH CRITICAL MASS IN BOUND TELESALES COMPANY LARGE COMPUTER COMPANY GLOBAL ACCOUNT OR PRODUCT SP FOR SMALL MEDIUM NON BUSINESS CONSUMER & SMALL ORDERS TO CONSUMER AND TRADE PARTNERS & SELLERS - TO TRADE - TO DOCTORS AND CONSUMERS FOR ALL DISTRIBUTION OPPORTUNITIIY - TO SERVICE SMALL ACCOUNTS FOR ORDER PROCESSING – CUSTOMIZED FOR A/C SIZE 7 GO – TO – MARKET CUSTOMERS AND PROSPECTS INTEREST CREATION PURCHASE CUSTOMER ATTRACTION & RETENTION ACTIVITES PRE PURCHASE PROCESS OWNERSHIP BREAKING BULK POST PURCHASE DELIVERY CREDIT/FINANCE OTHER CHANNEL FUNCTIONS Zulfiquar - NDSM COMPANY 8 POTENTIAL PARTICIPANTS IN A FIRMS GO-TO-MARKET STRATEGY CUSTOMERS & PROSPECTS DIRECT SALES FORCE AGENTS RETAILERS DIST DIRECT VALUE ADDED PARTNERS IN DIRECT ADVERT PROMO DIRECT MAIL TELE CHANNEL INTERNET NON SALES OPTIONS PORTFOLIO OF GO-TO-MARKET OPTIONS COMPANY Zulfiquar - NDSM 9 GO – TO – MARKET STRATEGY FRAMEWORK BUSINESS ENVIRONMENT ESSENTIAL WORK • • • • • INTEREST CREATION • PRE PURCHASE • PURCHASE • POST PURCHASE PRODUCTS MARKETS COMPETITORS COMPANY OBJECTIVES GO – TO – MARKET PARTICIPANTS DIRECT OR INDIRECT SALES FORCE • • • • • • • RESELLERS • DISTRIBUTORS • MANUFACTURERS AGENT • DIRECT SALES FORCE • CONTRACT SALES FORCE ANALYSIS EFFICIENCY/EFFECTIVENESS Zulfiquar - NDSM TELESALES ADVERTISING INTERNET SALES FORCE DIRECT MAIL TRADE SHOWS COMPANY SPECIFIC CAPABILITIES 10 STEPS FOR DEFINING A GO – TO – MARKET STRATEGY WHAT IS THE BEST WAY TO SEGMENT THE MARKET? WHAT ESSENTIAL WORK IS REQUIRED FOR EACH SEGMENT? WHAT PORTFOLIO OF GO- TO – MARKET PARTICIPANTS SHOULD DO THE ESSENTAIL WORK? SHOULD WE USE A DIRECT OR AN INDIRECT SALES FORCE Zulfiquar - NDSM 11 MARKET SEGMENTATION BUSINESS SEGMENTATION DIMENSIONS AUTOMOBILE INSURANCE • ACCOUNT TYPE • CUSTOMER PREFERENCE – STD /NON STD PAPER PRODUCTS • CUST PREFERING A CONSULTATIVE SALES APPROACH • CUST PREFERING A TRANSACTIONAL SALES APPROACH LOGISTICS • INBOUND VS OUTBOUND • MULTIMODAL BROKERAGE • DESTINATIONS • FCL VS LCL • HAULAGE • WARESHOUSING NEWSPAPER • ACCOUNT SIZE • TYPE OF AD • INDUSTRY • GEOGRAPHY BUSINESS FORMS • A/C SIZE • INDUSTRY • GEOGRAPHY Zulfiquar - NDSM 12 WHAT ESSENTIAL WORK IS REQUIRED FOR EACH SEGMENT INTEREST CREATION PROSPECTING GENERATE LEADS GENERATE TRAFFIC IDENTIFY PURCHASE INFLUENCERS CREATE AWARENESS OF THE PRODUCT PROVIDE INFO ABOUT FIRMS PRODUCT & SERVICES IDENTIFY SELLING PARTNERS AND INFORM ON FIRM’S CAPABILITIES Zulfiquar - NDSM 13 WHAT ESSENTIAL WORK IS REQUIRED FOR EACH SEGMENT PREPURCHASE EXPLAIN FEATURES & BENEFITS QUALIFY CUSTOMERS & PROSPECTS ASSESSING CUSTOMERS/PROSPECTS NEEDS COOPERATING IN PROBLEM SOLVING DEMONSTRATING FIRM’S & PRODUCTS CAPABILITIES COMPARE & OVERCOME COMPETITOR OFFERINGS LISTENING Zulfiquar - NDSM 14 WHAT ESSENTIAL WORK IS REQUIRED FOR EACH SEGMENT PURCHASE PERDSUADING/NEGOTIATING/FINALIZING TERMS BIDDING WRITING PROPOSALS & DOCUMENTATION CLOSING WRITING ORDERS & REORDERS Zulfiquar - NDSM 15 WHAT ESSENTIAL WORK IS REQUIRED FOR EACH SEGMENT POST PURCHASE MONITORING INVENTORY DELIVERY INSTALLATION CHECKING ORDER STATUS HANDLING COMPLAINTS & RETURNS DEVELOPING JOINT MARKETING PROGRAMS PERFORMING CUSTOMER & MARKET ANALYSIS TRAINING INTRODUCTING NEW PRODUCT & TECHNOLOGIES PROVIDING FINANCE COLLECTING PAYMENT Zulfiquar - NDSM 16 EXAMPLES OF ESSENTIAL WORK COMPANY & CUSTOMERS INTEREST CREATION PREPURCHASE PURCHASE POST PURCHASE FMCG ASSES SHELF STOCKS & SUGGEST QTY DEMONSTRATE NEW PRODUCT LINES, EXPLAIN ADVERTISING PROGRAMS REVIEW ORDERS AND UPCOMING PROMOTIONS CHECK FOR EXPIRY CLEAN SHELVES AND FILL MONITOR INVENTORY COLLECT PAYMETS PHARMA DIAGNOSTICS PROSPECT GENERATE LEADS COLD CALLING MAKE FORMAL PRESENTATIONS HAVE INFORMAL DISCUSSION PROVIDE INFORMATION PROVIDE REFERENCE DEMONSTRATE BIDDING WRITE PROPOSALS ASK FOR THE SALE ASK FOR REFERRAL INSTALL USER TRAINING TROUBLE SHOOTING INTRODUCE NEW ASSAYS Zulfiquar - NDSM 17 A FRAMEWORK FOR DESIGNING ESSENTIAL WORK Zulfiquar - NDSM 18 EXAMPLES OF GO-TO-MARKET PARTICIPANT SELECTION GO-TO-MARKET PARTICIPANT SELECTION BUSINESS MARKET SEGMENT INTEREST CREATION PREPURCHASE PURCHASE POST PURCHASE HOUSEHOLD TV, BILLBORAD, AGENTS & INTERNET AGENTS TELESALES INTERNET AGENT TELESALES INTERNET TELESERVICE INTERNET DIRECT SERVICE REPS BUSINESS CORPORATES DIRECT SALES AGENT INTERNET TV PRESS DIRECT SALES AGENTS DIRECT SALES AGENTS DIRECT SERVICE REPS TELESERVICE INTERNET MOTOR INSURANCE Zulfiquar - NDSM 19 EXAMPLES OF GO-TO-MARKET PARTICIPANT SELECTION GO-TO-MARKET PARTICIPANT SELECTION BUSINESS MARKET SEGMENT GENERAL TRADE FMCG MODERN TRADE Zulfiquar - NDSM INTEREST CREATION PREPURCHASE PURCHASE POST PURCHASE ATL BTL DIRECT SALES FORCE OR DIST SALES FORCE DIRECT SALES FORCE DIST SALES FORCE DIRECT SALES FORCE OR DIST SALES FORCE ATL ATL BTL BTL KEY KEY ACCOUNT ACCOUNT MANAGER/EXE MANAGER/ CUTIVE EXECUTIVE KEY ACCOUNT EXECUTIVE ATL BTL TELESERVICE EMAIL KEY ACCOUNT EXECUTIVE 20 THE ROLE OF EFFICIENCY & EFFECTIVENESS EFFICIENCY MARKETING INVESTMENT Zulfiquar - NDSM EFFECTIVENESS CUSTOMER CONTACT SALES 21 EFFICIENCY & EFFECTIVENESS OF GO-TO-MARKET PARTICIPANTS LOW COST PER EXPOSURE MASS MEDIA ADVERTISING DIRECT MAIL EFFICIENCY INTERNET SALES FORCE SPECIALZIED SALES FORCE EFFECTIVENESS Zulfiquar - NDSM HIGH COST PER 22 EXPOSURE AVEARGE COST PER CONTACT TO REACH BUSINESS MARKET GO-T0-MARKET PARTICIPANTS COST SPECIALIZED PUBLICATION INTERNET DIRECT MAIL BUSINESS LETTER TELEMARKETING TRADE SHOWS INDUSTRIAL SALES CALL (DSF/VAR/INTEGRATOR) Zulfiquar - NDSM 23 4 MAJOR GO-TO-MARKET PARTICIPANTS ADVERTISING & PROMOTION CALL CENTERS & TELESALES INTERNET SALES FORCE Zulfiquar - NDSM 24 AVEARGE COST PER CALL FOR DIFFERENT INDUSTRY INDUSTRY COST FMCG PHARMACEUTICAL PAPER PRODUCTS HEAVY INDUSTRY IT SECTOR FASHION GARMENTS CHEMICALS Zulfiquar - NDSM 25 SALES FORCE SQUEEZE Zulfiquar - NDSM 26 DIRECT OR INDIRECT SALES FORCE INTEREST CREATION PREPURCHASE PURCHASE POST PURCHASE IBM IBM DIRECT BUSINESS SALES PERSON PARTNERS BUSINESS PARTNER DOES THE DELIVERY & INSTALLATION IBM MAY PROVIDE TECHNICAL SUPPORT Zulfiquar - NDSM 27 SOURCES OF INDIRECT SALES FORCE OUTSOURCING FIRMS DSR’S WHOLESELLERS REPRESENTATIVES NON COMPETING COMPANIES IN THE SAME INDUSTRY Zulfiquar - NDSM 28 FACTORS FAVORING A DIRECT OR INDIRECT SALES FORCE REFER THE HANDOUT Zulfiquar - NDSM 29
