Step 2. Navigate the Market
Build and Align Product, Marketing, and Sales Strategies
How will we go-to-market?
Once we understand what the target audience values, we can then build the strategies necessary to navigate the market. At the center of all product, service, marketing, and sales strategies is the brand strategy. If the brand strategy is solid, then we have our foundation to build on. If the brand strategy is non-existent or underdeveloped, it is in our interest to address it first.
Organizational Arrow
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The goal is to examine the driving forces behind the business.
I start by learning about the history of the business and its leaders.
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The goal is to declare the reason the business exists.
Starting with the motivations behind the business, I look to discover the positive contribution that the business has on the people it serves.
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The goal is to define how the business will work towards fulfilling its purpose.
A well defined mission facilitates the alignment of product, marketing, and sales efforts.
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The goal is to convey the impact that the business can have on the world if it fulfills its purpose.
I start by imagining what the world would look like if the business worked on fulfilling its purpose for 400 years.
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The goal is to create a place of differentiation for the business.
This is a process of declaring fundamental differences in approach to a specific market.
Product & Service Strategy
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The goal is to organize and position brands and products so that shoppers can understand their value, differences, and purposes.
I start by following the physical and digital paths that shoppers take into the market place to understand the context and presentation of products.
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The goal is to identify product opportunity gaps and prepare to fill them.
I start by examining the product architecture to understand (and perhaps pushback on) where product lines can go.
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The goal is to determine the best ways to begin relieving pain for shoppers, removing and preventing pain for buyers, and pricing the value appropriately.
I start with iterative testing to find what drives the ideal customer profile (ICP) to show consideration, and price according to the value the product provides.
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The goal is to build a naming and nomenclature system that is scalable.
I start by reviewing the product architecture, and roadmap are defined and rationalized in order to build a naming and nomenclature system that supports it.
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The goal is to declare the design principles that all products must follow in pursuit of a cohesive product portfolio.
I start by evaluating the brand strategy and assessing how it can be translated into key functional and aesthetic principles.
Marketing & Sales Strategy
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The goal is to document stakeholder journeys alongside shopper and buyer journeys.
I start by outlining key stages, actions, pain points, and opportunities.
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The goal is to determine the channels of communication that the business will prioritize.
I start by reviewing market research and understanding where the greatest opportunities to reach the business’s audience is.
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The goal is to provide the knowledge and tools necessary to capitalize on sales opportunities.
I start by reviewing journey maps to understand key sales opportunities, and what is needed to be prepared for them.
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The goal is to minimize the number of customers that end their relationship with a company by immediately delivering value and signaling future value.
I start by planning to address existing pains and beginning complete pain removal as soon as possible.