How To Create a Killer Go-To-Market (GTM) Strategy | Dose 009
Why do founders often fail to properly pitch their GTM strategy?
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In this #DreamitDose, Dreamit Managing Partner Steve Barsh discusses what founders get wrong when talking about "go to market strategy" (“GTM”). When pitching your GTM strategy to investors, it’s crucial to define clear targeting criteria that presents a clear picture of your initial and later target customers. Then, you must convince investors that customers will gain more value from your product than from your competition and that you have developed a strategy for distributing your product to the market. Founders often confuse “go to market strategy” with “marketing strategy” or “sales strategy.” In this video, you’ll learn how to talk about your target customer segment, how to create a litmus test that helps you stay on track to sell to these customers, and how to align your pricing and distribution strategy to create a comprehensive GTM pitch.
0:00 - Intro
0:28 - Clear Customer Targeting Criteria
1:25 - Go To Market Is Fishing
2:05 - Fish Where The Fish Are
3:14 - Early Customer Litmus Test
4:12 - Push Sand Down The Hill
4:46 - Takeaways
5:10 - Outro
Пікірлер: 93
Thank you, and I want to go fishing
@stevebarsh1224
4 жыл бұрын
You're welcome Adugam! #fishing
@abeladugamayuba9618
3 жыл бұрын
@@stevebarsh1224 I'm so Glad i watched this 8 months ago. I will be launching my startup product in less than two month & this video just taught me who i should go with in regards to my customers. this is super awesome.
@stevebarsh7727
3 жыл бұрын
@@abeladugamayuba9618So glad to hear this was helpful to you! Thanks for watching and good luck on your launch!
@mylangcoach13
2 жыл бұрын
Hahaha, I just saw this now, few weeks before our second launch, what a coincidence😂
@abeladugamayuba9618
2 жыл бұрын
@@mylangcoach13 hahaha 😂 yeah and after following @Steve Barsh concept we actually targeted the fish 🐟 at the shore and it was the best decision ever, we closed deals with Bussinesses faster and gained much more users easier. Thanks @Steve Barch 😉
They may not be the biggest startup accelerator, but they sure are the best at KZread. Quality stuff, definitely makes Dreamit synonymous with smart money - in my mind at least.
Steve, you might just saved my startup. I got myself involved in sales to enterprises with long sales cycles. You opened my eyes. I want to shake your hand one day, man. Thank You.
Thanks Steve very helpful!
Straight to the point. Love the analogy. Now, let's go Fishing.
Brilliant, quick and to the point thanks. Loved the outtakes, thought you were just too good!
This is phenomenal information! Thank You!
@DreamItVentures
3 жыл бұрын
Glad you liked it! Thanks for the feedback and for watching. If you feel our content is deserving… would appreciate if you post and link to a favorite Dose on social (Twitter and LinkedIn). Tag me (Steve Barsh) and Dreamit on Linkedin and on Twitter tag @sbarsh and @dreamit and we'll make sure to like and reply. Thanks and stay well! -- Steve
Thank you, that was a great to the point video !
Thanks for the excellent series. They are very helpful as we launch our medtech startup!
@stevebarsh7727
4 жыл бұрын
Thanks for the props Patrick! Glad you are finding the content helpful!
@DreamItVentures
4 жыл бұрын
Thanks for letting us know you are finding the whole series valuable. Please let us know about your medtech startup's progress and if Dreamit can help in accelerating your success!
These series are fantastic. Steve I have a question Our startup is an IT platform on the tourism sector, more specifically on the tour and experiences sector but our focus is on some African countries. We've been struggling with defining our early adopters mainly due to the lack of information that the countries have on their own tourism stats (tourist profile, behaviour, ...). We find mostly generic information. So we have been basing ourselves in global tourism trends and behaviours instead. Do you have an advice for that?
@stevebarsh1224
4 жыл бұрын
Glad you are looking so deeply. I would try to dig in hard. If you can't' find the data make sure to carefully document your assumptions and state them openly on any slides where you talk about this data. Thx for watching!
The fishing analogy is great....Now I know exactly what fishes i am targeting and where they are.....great.....
Thanks for the vid G 🌊🌊🌊
Thank you for the video. How do you recommend an early stage startup finds their beachhead market? For my health tech startup, we know going for the big tuna deep in the ocean isn’t the right beachhead, so how can we set our sights on the right one?
@DreamItVentures
4 жыл бұрын
Good question. List your top benefits in priority order. Find the market segments that align most strongly and that most deeply appreciate those specific benefits. Also looking for markets where you can close deals at the fastest possible pace. Great if the targets can be geographically close. I hope some of these ideas help you get started. -- Steve
Great advice, thank you very much!
Thanks, and all this time I thought those big fancy logos were helping me. This was super helpful.
Very well described, definitely earned the subscription!
@DreamItVentures
4 жыл бұрын
Thx all around. And thx for the sub! - Steve
@sargamsharma22
3 жыл бұрын
+1!
Fantastic. Thank you 😊
wow, nailed it! this actually opened up my perspective on the b2b target
@stevebarsh7727
3 жыл бұрын
Glad to hear! Thanks for watching!
WOW ITS AMAZING CAN'T WAIT FOR YOUR NEXT TUTORIAL .
I like it, simple clear straight forward 👍🏼
Thank you!! Great short clip.
@DreamItVentures
4 жыл бұрын
Glad you liked it! Thanks for the props!
@stevebarsh1224
4 жыл бұрын
Glad you liked it. Thanks for the props Christopher!
Thank you for the valuable information. Direct to the point
@DreamItVentures
4 жыл бұрын
Glad you like it!
@stevebarsh7727
4 жыл бұрын
Glad you are finding value in them!
Super great analogy. Actually, I just realized this a few days back. Earlier I was going after national schools but then I realized I should first try to reach out to schools in my locality.
Go to market early customer crtiteria ! Wow. Thank you.
Thank you so much! I like to go fishing..
this was awesome info! I'd love to see your take on GTM for b2c!
Thank you for this informative piece.
@DreamItVentures
4 жыл бұрын
You're welcome. Thx for watching! - Steve
Thank you, love fishing. Learned to bait my own hook at 3. :) Love the analogy.
THANK YOU SIR
I need more information on how to choose early customers, please advise where to look
At first I did not expect much, but this is brilliant advice. We aligned with my research.
Should the competitor be a direct competitor, exactly named, specific brand/company or it can be one descriptive word e.g. bank? e.g. FinTech landscape is huge with different players in the market and competition is somewhere in between the niches. Thank you.
@DreamItVentures
4 жыл бұрын
Try to list direct competitors in the order you expect customers or investors to ask about them. You can list "buckets" of companies as well if needed.
@rodrigatone
4 жыл бұрын
@@DreamItVentures Thank you!
Hey, I really like the video, I work for a real estate startup and we want to push out a strategy that is not there in the market yet! Could you help me with a template for the GTM strategy?
Thank you for this killer video, it really helps me a lot! One question I would want to ask, I have all the details drilled down with me but how should I put in in a pitch slide?
@stevebarsh1224
4 жыл бұрын
Thx for watching and your question. Define on your pitch deck slide an area that describes the *attributes* of your ideal target customer and why those attributes (e.g, small hospitals (they buy faster), in major cities (higher density), that have a head of innovation (we know they care about innovation). Then define your first 1-3 initial target customer segments based on the critters. You can also define what channels you'll use to get to those customers (direct sales, conferences, etc.). Hope that helps!
@DreamItVentures
4 жыл бұрын
Also try using Slidebean. -- Steve
Thank you for this! I would like to interest you in African Tech start-ups. You could share on how Africans can interest non-African investors.
You don't invest in my space but that was exceptional advice nonetheless. Thank you!
@DreamItVentures
4 жыл бұрын
Thx for the props! Glad you found it help! -- Steve
Pedestrian caught speeding, pedestrian says "but officer look the other cars were speeding too." The cop says "when you go fishing, are you going to catch all the fish or just a few." >> Target marketing >> Find your IDEAL CUSTOMER SEGMENTS & and create your IDEAL CUSTOMER PROFILE ladies and gentlemen.
Thanks a lot for this video it really helped me to understand the criterias for my pitch deck slide. It would be even better if you could add an example slide to it :)
Amazing
Open my mind, thank you so much, it will help my next strategy. Greeting from Indonesia
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I get the analogy of finding close by untapped and accessible small fish, but if the boat represents your value prop and the fish represent the customer, isn’t a core component making choices about what fishing rod you need to use? By that I mean how do you build a repeatable scalable way to get those fish from water to boat. That’s the hardest part about G2M in my opinion. I think the devils in the detail... who is your buyer? What messaging works well? Who are the other stakeholders you need to convince? Land & expand or top down? To me those represent the fishing rod...
@partsunknown2852
9 ай бұрын
Yep, couldn’t agree more
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I know this is a too direct question, but no harm is asking from an authority like you. What can be a GTM strategy for a company launching electric bikes.
Killing it
Hell yeah
In the first six seconds , literally shot my dreams
Extremely well presented.
@stevebarsh7727
3 жыл бұрын
Glad you liked it. Thanks for watching!
what happens when your business model is B2B and you are using distributors only?
How the hell, i missed your video guys. amazing and fast explanation. perfect channel to munching. Raj founder of OneGen Healthcare. can we send our pitch to validate with dramit acc?
Need to go fishing asap 😊
Yep.
fishin fo sho!
4:49 takeaways
Plz tell me that I am not the only one that notice during each segment that there is less beer in the glass from beginning , middle, and end.
we want to go fishing.
Go to the source
40
I'd like to go fishing
Yeah, time to fish :)
Fish where the fish are
@DreamItVentures
4 жыл бұрын
Yep! -- Steve
Nah fam. If you wanna know who are their prospected customers, ask them who are their prospected customers. If you wanna play that "you have to know what we mean" game that's just not fair.
I want to go fishing
Slow down
Yes, your ex is right more often times than not
Too many fishing analogies