http://www.storyboardthat.com/articles/b/gtm-strategy

SBT's Illustrated Guide to Product Development

Choosing the Right Go-To-Market Strategy

By Aaron Sherman


This is the second part of our Illustrated Guide to Product Development series.

In the previous article, we made an amazing elevator pitch example storyboard describing our product and making sure the core of our vision was a product people would really want to use.

Although we are still very early on in our product strategy, taking a moment to “jump ahead” to review a few business strategies now will allow us to have deeper conversations throughout the product development process.

At the highest level, typical business and Go-To-Market strategies start with the question, Is the business model


  1. B2B – Business to Business?

  2. B2C – Business to Consumer?

  3. C2C – Consumer to Consumer?


In our experience at Storyboard That, we do a very quick version of this storyboard at this stage of the game, and then come back again and again to improve that storyboard as we have more information.

Solomofoo Example
Create your own at Storyboard That Hangry Henry goes to the breakroom before a meeting. He finds the remnants of some cupcakes... The vending machine is also out of Hangry Henry's favorite junk food. Hangry Henry is a bit rude during his next meeting. His friends suggest he tries SoLoMoFoo. Baking Bridget drops off some fresh cupcakes she made over the weekend. Baking Bridget tells SoLoMoFoo about her cupcakes and Hangry Henry immediately gets alerted! After his cupcake - Happy Henry is awesome in the meeting. Share Food Cupcakes in the Breakroom! Hangry Henry - why don't you install SoLoMoFoo and get food alerts? Cupcakes in the Breakroom! I hate just missing free food at work! WHAT?!? No twinkies? I hope people find my cupcakes! ALERT!

Example

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Finding the Right Business Strategy for SoLoMoFoo

In the case of SoLoMoFoo – a product to help people easily share and locate free food in the office – we overwhelming heard from our mythical and all-seeing potential investors that they saw two radically different ways we could approach the business: either B2B or B2C. They informed us, without really thinking through these two scenarios, it would be hard to move forward. Depending on the business model chosen, the required technical feature sets and marketing scales would be radically different.

Since we are advocating for customer-centric thinking, it is pretty critical to understand what type of customers we are going to go after… otherwise, how can we think like a customer?


Business to Business via Enterprise Sales

Companies with more than 50 employees would like to offer SoLoMoFoo as a nice benefit to encourage community and camaraderie. These businesses would be willing to pay a fee to purchase the product and allocate resources to deploy the application.

Business to Consumer via Viral Customer Acquisition

Due to the sharing nature of the product, there is a natural viral spread of this type of product.


Visually Comparing Business Strategies with Parallel Thinking

Focusing on one dimension and segment of the business at a time using Parallel Thinking allows us to methodically break down our business into bite-sized comparisons.

In this storyboard, we opted to look at four different areas of the business that would change fairly dramatically depending on the revenue model that we choose to approach. Depending on your business needs, the set of questions could be very different.

SoLoMoFoo Business Model Comparison
Create your own at Storyboard That Selling Licenses to a Company Ad Revenue Convincing HR this is a Great Benefit Viral Usage Happier Employees Personal Praise Legal Liability Strangers Showing Up The IT deparment will log in to solomofoo.com and purchase licenses for however many users they need. As part of the in-app experience ad banners will be shown to users. Go after the HR market who has budget to afford the software, that IT will then install. Sponsored blog posts on tips and tricks is a great channel. Whenever food is shared, add the ability to leave a print out with a QR code for people to subscribe to updates. Corporate customers are happy if their employees are happy. When employees are hangry, everyone loses! For the person bringing in the snack, feeling appreciated for their craft is a major ego boost. Companies don't want to be liable if there is a bad reaction to free food and they are perceived as being a part of the process and therefore responsible. If random people start showing up at the door the person who posted the food is going to look foolish! In the enterprise version alerts are automatically localized to the company. Enterprise Consumer Growth Model User Benefits Risk Revenue Model 50 Licenses for $49.95 per Year Buy Now CLICK ME!!!! I'm an Ad! Free Cupcakes on the 7th floor kitchen Five EASY ways to improve Company Morale Follow me and all my snacks. Just Install SoLoMoFoo You just received a new review AMAZING CUPCAKE