Marketing Campaign - GTM
Client
Alcor
ServiceS
Go-to-market strategy
Year
2022
Introduction and Background
Context
The company is a SaaS platform offering a wide mix of HR, recruitment, accounting, EOR, legal, compliance, real estate, visa, travel support, and tech infrastructure services tailored for American mid-market and large companies aiming to hire global talents.
Target audience
US-based mid-market and enterprise companies that would like to hire at least 10 people abroad (10 is based on the calculation showing that the product will provide most of the value thanks to scalability economics).
Role
Led a cross-functional team of marketing professionals (copywriters, PR, SMM, and others) and sales, product, and customer success managers.
Purpose
Expand the product’s offering to a new segment with high potential, evaluated at 300M USD in ARR.
Key Metrics
USD revenue generated
Qualified leads generated
ACV improved
MARKET Research and analysis
Context
After conducting regular monthly research on market trends, news, and updates, I received feedback that many of our indirect competitors didn't provide the quality of service they did before. There were a couple of reasons: an overheated market, competition for software engineers, high demand, and sometimes even competition between clients.
Interviews
Considering research information above, I decided to conduct a series of interviews with our potential clients who used competitors' solutions, particularly outsourcing/outstaffing providers.
Key Insights
During my research and market analysis, I gathered data and comments from dissatisfied clients who experienced poor service from a supplier. In order to maintain client confidentiality, I redacted specific data and changed the priority of response.
The main reasons are:
Redacted %
Lack of transparency in costs (“We paid 2x more than the market.”)
Redacted %
Lack of flexibility in choosing the services a client needs (Rather, it was a "take it or leave" approach).
Redacted %
Low adaptability to new realities (primarily related to remote work).
Redacted %
Slow operational support ("I waited 2 months for a new laptop.")
On questions related to finding alternative providers, I discovered that, despite their dissatisfaction, many clients were hesitant to switch to another provider or solution. These reasons included:
Redacted %
Didn't know about existing solutions.
Redacted %
Didn't know about the cost of an alternative solution.
Redacted %
Felt frustrated about the complexity of switching.
Developing a GTM strategy
Decision-making
Based on the information I gathered, along with the finance team, we evaluated this opportunity in ARR of $300M USD as a clear opportunity to target a new segment of customers.
With these insights, I initiated a discussion with the leadership team, including the product and sales teams, to adjust some product features and sales enablement materials.
In parallel, I switched gears to developing a GTM strategy:
To see the Full Document click here
Results
Context
This campaign successfully entered a new segment. Apart from the excellent numbers we achieved, the customers we received already had hired teams and assets, which meant a faster ramp-up and increased ACV.
The second outcome involved a sophisticated buyer who fully grasped the problem and had already considered potential solutions. This was the reason why our sales team reported a shorter sales cycle with a low sales cost for this audience.
Quantitative Results:
20%
Growth in leads generation
45%
Better ACV
30%
Better conversion rates
Below is additional qualitative customer feedback that reflects the strength of our GTM strategy:
To see the Full Review click here
Challenges
Constraints
During the implementation phase, we published several PR articles that compared and contrasted our model with traditional outsourcing/outstaffing models.
I wanted these articles to generate viral content to change the conversation around working abroad. However, representatives from the older model companies publicly challenged our analysis.
To combat this, I worked closely with our PR and SMM teams to deliver responses that confirmed our position and research without creating tension or conflict.
Key Takeaways
Importance of Comprehensive Market Research
Conducting thorough market research and gathering detailed feedback from potential clients provided critical insights into the shortcomings of competitors and the unmet needs of our target audience. This information was invaluable in shaping our marketing strategy and positioning our product effectively.
Value of Client Interviews
Direct interviews with potential clients revealed pain points and challenges that were not evident through secondary research alone. This direct engagement helped us understand the nuances of their experiences and expectations, allowing us to tailor our offerings more precisely.
Cross-Functional Collaboration
Engaging with cross-functional teams, including finance, product, and sales, was essential for aligning our marketing strategy with broader business objectives. This collaboration ensured that our GTM strategy was well-rounded and addressed multiple aspects of the customer journey.
Flexibility and Adaptability
The need for flexibility in service offerings was a key insight. Many clients were dissatisfied with the "take it or leave it" approach of competitors. Our ability to adapt and offer customizable solutions became a significant differentiator.
Communication and Transparency
Transparency in costs and operations emerged as a critical factor for client satisfaction. Ensuring that our marketing messages emphasized our commitment to transparency helped build trust with potential clients.
Targeted Lead Generation
Focusing on a specific segment of mid-market and enterprise companies looking to hire globally allowed us to create highly targeted marketing campaigns. This specificity led to more qualified leads and improved conversion rates.
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