Return on Investment: 20x
Provided guidance on:
- Advised on GTM strategy
- Market research
- Made initial sales
Challenge:
A hobby of mine is adding home automation to my house! An element I struggled to find was customisable keypads. Most people who visit my home don’t want to use an app, so I wanted to replace light switches with keypads. After noticing a Facebook post from a Spanish smart home brand that solved that problem and testing one of their products, I knew the market needed their devices!
They already had a strong dealership network in the Middle East but had little traction or sales in the UK and USA markets. After talking with the CEO, I agreed to help them enter the UK market and generate some early sales, while refining their strategy for new markets.
Approach:
I started with market research and quickly concluded that they offer several unique Z-Wave devices with universal appeal and an affordable price tag. During the process, I talked with other smart home enthusiasts to confirm these observations.
Getting the Go-to-Market (GTM) strategy right is the difference between generating early sales and just creating a buzz that quickly fizzles out. Using the market research, I considered the different routes to reach the end client (D2C, wholesale, installers, etc.).
I decided to focus on installers first, then wholesalers. Focusing on volume sales would drive the most impact for the brand without creating a ton of additional customer support requests. If neither option worked, we could try D2C using eBay, Amazon, and building a simple Shopify store.
Before I could approach potential B2B customers, I advised them on several improvements to their website and sales process.
The user experience and SEO of their website were improved. Also, I created graphics that better explained the products and use cases, helping them move beyond selling features to benefits. Doing this created an emotional connection with the end client, as they could imagine how the keypad would work and function in their home.
As part of the GTM strategy, I built a list of B2B wholesalers and installers in the UK. I then cold-called everyone on the list to set up online demonstrations.
From these efforts, I made sales to several key individuals within the smart home trade. Some of whom have since reordered. One customer recorded a full-length YouTube review, showing some of the products in use in his home.
Impact:
While their expansion into the UK is still in its early days, the brand now has a growing base of UK customers and a solid foundation on which to build. They have seen a 20 x return on investment so far.
Creating and executing a GTM strategy requires a mix of skills, including market positioning, research, and hustle. This was an enjoyable project, both personally and professionally.
Ready to move beyond the cycle of tactical experimentation and adopt a more strategic approach to growth?
