Aimbrain: A Go To Market (GTM) case study
- Mindset for start-up sales
- Set out the key areas to consider in putting together your first GTM
- Outlined how to connect with customers as people
Now we’ll hear from the CEO of one of our Portfolio companies – Aimbrain – on how we worked together on GTM and sales strategy that has transformed the way they engage with their customers. The process has helped the company rethink its approach to the core market for its Biometric Identity Platform.
Here, CEO and co-founder Andrius Sutas explains the impact this has had on the business:
As founders our background is as engineers. While we had been doing ‘sales’ for the last few years, we hadn’t really been doing proper customer development and we weren’t getting the results we wanted. When Siobhan from Episode 1 came in to help us out, she brought in a very structured approach which was all about understanding what your customers actually want. In fact, in the two weeks of doing proper business development with Siobhan’s help, I learned more about my own market than in two years of doing ‘sales’.
Quite often, the customers themselves don’t actually understand their own priorities. For example, a customer might want to reduce the amount of fraud and doesn’t really care how they do that as long as they get the result, while a customer such as a challenger bank wants to differentiate themselves through a cool user experience that doesn’t require users to remember passwords. The fundamental solution to those problems could be biometrics delivered by exactly the same product. However, the way you pitch the solution and sell the product – and measure success – is different.
The whole Go To Market strategy and business development strategy is about understanding what the end goal is and then changing your language or introducing new language around solving your customer’s needs. When you talk to people without trying to sell your solution, when you’re just there to listen and understand, they share a lot of non-obvious things. It also gives rise to use cases that hadn’t even been thought of before. That’s far better than just trying to sell the same use case to lots of people.
We’ve found that companies are usually very receptive to this approach. We go in with a lot of questions, probing parts of their business to understand where they have bottlenecks, where they are losing money or customers, how they could do better in certain areas. Siobhan has helped us focus those questions to learn what problems they have, but also those they might not have thought about. It can actually be a really valuable exercise for the company as well as for us.
In the Go To Market strategy that we did with Siobhan, we understood the verticals we were going after but also who, why and when the people were buying within those verticals. Tier 1 banks are still very much part of that strategy, only now we understand them better.Siobhan’s approach does have a very strong structure but it hasn’t been imposed on us. That structure adjusts to the way you, your company and the market works. It’s flexible. It’s almost like a manual of doing business development and sales properly. And that manual is always changing specific to the company or the market.
ABOUT GTM BLOG Series
Over a series of blogs, we’re focusing on the Seed to Series A step of GTM and share what it means to think through the customer experience:
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