Strategy is so loosely used now I’m going to throw it in the pile of words and phrases I dislike: synergy, return on investment, economies of scale, sugar-free donuts, calling a burrito a “wrap” (no, no, no).The first thing you need to understand when you are working on a strategy for a startup: Deciding how to gain a market share with your target audience. Think CULT – Customer User Lead Tester.
Every company and startup has a “go to market strategy”
I often hear about how firms plan to move the needle with a diffusion campaigns or through their first mover advantage strategy, etc.
There are two (2) questions you need to ask whilst developing your go to market strategy: 1.“Who is my first customer?” and, 2. “How do I acquire them?”
Well, let me try to prevent any unforced errors with this statement, your product/service launch is NEVER directly to the mass market as a starting point.
Your first customer is the expert
I call them The Customer User Lead Tester (The CULT). The expert, specialist, aficionado or CULT member is an influencer. Meaning, they’re all over social media with potentially millions of followers. The second answer is: The CULT acquires you, not the other way around!
If The Cult buys into your product/service and they evangelize into the ether, we buy!
Is it a coincidence that three (3) months before APPL launches a new iPhone it’s somehow leaked? And leaked to who? You guessed it—The Cult. I imagine this is APPL’s go to market strategy: 1. Invite CULT members to bar 2. Leave iPhone in lavatory, 3. open bar 4. Repeat.
There’s nothing more powerful than a testimonial from a Cult member—we, consumers trust third party endorsements. When we see an influencer tweet, post pic’s and video’s we BELIEVE! And buy, even if it’s a sugar free donut.