Go to Market: Buyer segmentation, competitive landscape, product strategy, sales strategy
A leading media technology vendor launched a production tool and a software platform and they wanted to optimise and improve their go-to-market and sales strategy. The client wanted to validate their product strategy and ensure they prioritised the most attractive targets with the correct messaging.
Project context- Caretta's approach
Caretta proposed addressing the larger go-to market project by breaking it down into two sprints. The first sprint focused on identifying and understanding potential buyers, the second sprint focused on formulating a sales strategy. As such the client required an independent assessment of the market impressions and needs, an overview of the competitive landscape, and help identifying, segmenting and understanding target accounts on the basis of which the go-to-market strategy could be formulated for the products.
Sprint 1: Identifying and understanding potential buyers
Caretta began by identifying and segmenting cohorts of buyers through past deployments registered in Caretta Portal which highlighted the types of buyers purchasing similar technology solutions who may be a good target. On this basis it was possible to model look-alike buyers, as well as identify buyers in sectors adjacent to the media technology industry. This process outlined the current incumbent solutions and top vendors , showcasing the competitive landscape as well as specific use cases of the products and technology preferences of buyers.
The deployment information was then supplemented by peer-to-peer interviews with buyers which highlighted buyer pain-points as well as any gaps that existed between the products and the market demand.
Sprint 2: Formulating a sales strategy
To formulate the sales strategy and best target the buyer cohorts, Caretta began by carrying out a SWOT analysis of the products which was followed by product positioning that addressed the functional fit of the solution. This was supplemented by competitive pricing analysis, to ensure that the products could remain competitive in relation to other vendors in the market.
Along with identifying the key messages and the language that needed to be used to promote the solutions, Caretta identified the channels to market that would best serve the products, making for the most effective use of the strategy.