{"id":9004111223978570,"date":"2022-10-04T20:06:33","date_gmt":"2022-10-05T00:06:33","guid":{"rendered":"https:\/\/www.pragmaticinstitute.com\/?post_type=resources&p=9004111223978570"},"modified":"2022-10-04T20:09:45","modified_gmt":"2022-10-05T00:09:45","slug":"go-to-market-case-study-how-to-build-momentum-and-reduce-risk","status":"publish","type":"resources","link":"https:\/\/www.pragmaticinstitute.com\/resources\/articles\/product\/go-to-market-case-study-how-to-build-momentum-and-reduce-risk\/","title":{"rendered":"Go-To-Market Case Study: How to Build Momentum and Reduce Risk"},"content":{"rendered":"

This case study is based on a recent Product Chat Webinar >> Watch It<\/a><\/em><\/p>\n

In 2020, Watch Party launched as a response to quarantine lockdowns when people couldn\u2019t safely meet with their friends and families. It allowed people to interact with each other while they were stuck at home.<\/p>\n

During the Product Chat Webinar, Arnaud Berube, Senior PMM at Zillow, used Watch Party as a case study to explain his phased go-to-market approach reduces risk and maximizes resources. This article pulls the key takeaways from the conversation.<\/p>\n

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Timeline for Watch Party’s Go-to-Market Strategy<\/h2>\n

\"Timeline<\/p>\n

Three months after big lockdowns as a part of the Covid-19 response (June 2020), Berube\u2019s former company prioritized Watch Party. By September, they launched Phase 1 and Phase 2. By December, the team did a big, broad Phase 3 & 4 that included a TV spot.<\/p>\n

The go-to-market strategy for Watch Party plays out over 10 months, but this case study focuses on the first six months.<\/p>\n

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The Big Picture Approach<\/h2>\n

\"The<\/p>\n

 <\/p>\n

This framework is a modified big-picture approach and is how you ensure your marketing goals align with business objectives.<\/p>\n

You do this by starting with outlining both business and marketing objectives. Then, you progress into strategy, which can be defined as segment, target and position (STP). Finally, you can move on to execution (or the 4 Ps).<\/p>\n

Notice these aren\u2019t the traditional 4 Ps. They are tailored to a tech company: pricing and offer, user journeys, promotion and communication, and website.<\/p>\n

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The Messy Reality<\/h2>\n

The messy reality is it\u2019s never linear. It might feel like all you need to do is think about objectives, strategy, and execution in that order\u2014if only it were that simple.<\/p>\n

\"Big<\/p>\n

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In reality, when you\u2019re thinking about objectives, you\u2019re already jumping to execution and thinking, \u201chow much is this going to cost?\u201d You\u2019ll be wondering if it\u2019s going to be worth it. When crafting your marketing objectives, you might already be segmenting and targeting. So, all these tasks intertwine.<\/p>\n

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Step 1: Watch Party: Business and Marketing Objectives<\/h2>\n

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\"Business
\nIn this example, the objectives are tied closely together. But marketing objectives are specifically what product teams can drive in the marketing function.<\/p>\n

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Step 2: How to Use Research to Size, Position and Name Your Products\/Features<\/h2>\n

It\u2019s important to work closely with your consumer insights team, especially at the start of a new initiative. It helps to pull a report and create a visual summary.<\/p>\n

It might look something like this:<\/p>\n

\"A<\/p>\n

This research provided a few important insights:<\/p>\n

The top two charts showed that there was going to be interest in this co-viewing experience and that people would be doing it frequently.<\/p>\n

The first question we needed to answer was what types of content would people be interested in watching? Then what’s the experience or how many people would need to be in a watch party?<\/p>\n

Was it gonna be audio-only, text or video chat? Video chat won compared to other options. Finally, the last piece was the idea of a relationship. So co-viewing involves at least two people. What’s the relationship between the two people? The answer was it would be either friend-to-friend or parent-to-child.<\/p>\n

These consumer insights allowed the company to prioritize Watch Party and start thinking about the positioning and how to build the go-to-market strategy.<\/p>\n

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Building Personas from Consumer Insight Research<\/h2>\n

\"4<\/p>\n

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Using the same consumer insights, the product team created some rudimentary personas like host-to-friend and host-to-child relationships. Then identified some of the persona goals.<\/p>\n

Additionally, they spent time listening to what the customers thought about Watch Party. They said things like:<\/p>\n