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NPC 2017

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Customers, not markets, buy your products. So, going to market demands a deep understanding of your customers’ needs and behaviors. A strong strategy builds your organization’s capabilities to sell more.  It involves putting forward the right prices at the right time via the most effective channels. Today’s dynamic digital era demands companies to tailor-make their strategies to reach customers.

 

To be ready for this digital revolution, learn how this era has changed advertising:

 

  1. Advertising is huge. Advertising was simple, more money meant more customers, which meant more success. Digital has brought back pay to play idea.
  2. A conventional advertisement is no longer viable. You have to get creative to catch attention.
  3. Traditional advertising is dead. Online marketing channels are better targeted and you only pay for reaching people who have interest in what you say.
  4. Digital levels the playing field. Communication has changed. With more details about the shift in customer behavior, it’s now easier than ever to hit them right.
  5. Customer service never sleeps. People expect you to address their needs at all times, as fast as you can.

 

A kickass go-to-market strategy for startups

Millions of startups reach the basic funding stage each year.  Angel investors help about half of these companies with their initial development. Very few out of them are then able to show enough promise to actually receive a first round of capital from venture or private equity sources. The challenge usually how to sell your product and create a sustainable revenue stream so that you can further develop your product offerings, build your infrastructure, repay your investors and finally pay yourself. Here's where figuring a great go-to-market approach comes into play.

Startups need to take their customers’ perspective to understand how to approach the market. They should think about what the customers are trying to achieve and what problems they need to solve — and then think about how the product can help them be successful. Let's take a look at a GTM strategy startups need to adopt.

 

Nail your GTM positioning

Market positioning, at heart, is simply how you tell your story. It’s a forcing function that helps you to crystallize your strategy which can have a magnitude effect across the whole company. Take a look at these 5 crucial GTM considerations:

 

  • Audience - Fully understanding your consumer segments is most important before you start anything else.
  • Channels - Once you know your audience, you need to know where they are looking and where they are learning. This will help you to understand how to best reach your target audience.
  • Pricing & packaging - You need to “right size” for your segments and strengths.
  • Customer acquisition cost - Work through your acquisition model and costs.
  • Messaging - You can only solidify your messaging within the context of everything else.

 

Remember, any successful startup began with solving their customers’ challenges. It’s better to build a small customer base who love your product rather a lot of them who just sort of like your product. Finding out the perfect approach to go to market is challenging. But as you move forward solving your customer's’ problems, you will refine it based on the insights you gain. 

All products need to adopt AI to stay relevant. What to do if AI is not a core skill?  Where do you start?  What functionality do your AI-enable?  How do you implement the requisite functionality in your product? 

 

You can AI-enabling your product in 3 steps.

  1. Envision the AI-enable future of your client industry. Understand and map what your industry will look like in 5-10 years, as software and AI eat large parts of the value chain and a company just born in Silicon Valley could be upstaging the Fortune 500 market leader in the industry. Where will value be created in the future?  What capabilities will your customers demand then?  How can you create abundance for your customers, and therefore for yourself?  A framework to help you envision your digital future is available in a separate post.

 

  1. Measure and Capture all data. Capture all data, not just the results. This includes process steps and intermediate activity data. Particularly important is data on failures: data on sales calls that failed is as important as order information from successful sales calls. If a step is consuming organizational time and resources, measure and record it.

 

  1. Integrate an AI platform. You can rarely make a case to build an AI platform. With so many good platforms available at low cost, the high degree of specialization involved in building an AI platform, and the rapid improvement in the state of the art and platform capability, you are much better off integrating with any of the available popular choices. Choose carefully based on underlying technology compatibility and hidden costs before you integrate and keep control of your data.

 

 

 

Learn more about the trends in AI, how to transform your product, network with other product managers on the same journey, and to hear from thought leaders across the Product business, visit the NASSCOM Product Conclave 2017, Bangalore. NASSCOM Product Conclave. We have a whole half-day summit dedicated to adopting AI. Save Your Spot Now! Register Here

NASSCOM’s Emerge 50 has proven to be a milestone in the proliferating journey of more than 350 companies and their success stories since 2009. These companies have been assessed on the basis of numerous parameters, including value proposition, market differentiators, customers, market visibility, scalability, financials, growth and most importantly, innovation impact.



The process to choose innovative companies started with the screening of applicants on various eligibility criteria such as the nature of business, vertical and horizontal division and their origin. With over 500 applications having been received this year, nominations for NASSCOM Emerge 50 2017 Awards are now closed.

This year’s submissions serve businesses, consumers, government and marketplace aggregators and cut across segments like Cloud, Enterprise, SaaS, Mobility, Big Data/Analytics, IoT, FinTech, HealthTech, Next-Gen Commerce, Ad-Tech, and so on.

75% of the Emerge 50 submissions are in the B2B segment and 80% of them have global market focus this year, proving that Indian companies are now pushing their products to tougher and bigger global markets.

In terms of major horizontals, Cloud Applications / Platforms / Infrastructure, Enterprise Products and Big Data / Analytics and Enterprise Mobility / Mobile Platforms constitute the bulk of submissions, followed by Deep Tech (AI, ML, NLP, Blockchain), and IoT / Hardware / Wearable Tech.


Companies from leading metropolitan cities like Bengaluru, Delhi NCR, Hyderabad, Chennai dominated the submissions followed by other tier-1 cities.  Firms of Indian origin based out of the UK and US made up the rest of the submissions.
 

                                                                                           

Nature of Business

B2B

75%

B2C

29%

B2G

9%

B2B2C / Marketplace/ Aggregator

30%

Others

2%

 

Major Horizontals

Cloud Applications/ Cloud Platform/ Cloud Infrastructure

36%

Enterprise Products

30%

Big Data / Analytics

27%

Enterprise Mobility / Mobility Platform / Mobile Applications

26%

Deeptech – AI/ ML / Blockchain/ NLP…

16%

IoT / Hardware / wearable tech

16%

Software Development and Deployment

13%

 

Nominations in Vertical focused solutions:

FinTech including payments11%
HealthTech9%
Hyperlocal / Marketplaces / Services Aggregators8%
NextGen Commerce / eComm / mComm8%
AdTech / Marketing Tech7%
EduTech7%
Security Infrastructure / Applications6%
Social / Web 2.06%
Smart Infrastructure5%
eGovernance4%

 

NASSCOM is glad to announce its collaboration with Grant Thornton (GT) as its Knowledge Partner this year to encourage design evaluation. Submissions to be shortlisted for Jury round Evaluation scheduled for the 1st week of September.

As an added benefit, EMERGE 50 also enables winning companies to participate in trade delegations and tap into the most influential community of CxOs and potential Investors.

The winners will be felicitated at India’s Biggest Product event, NASSCOM Product Conclave, Bengaluru, and will be provided an opportunity to showcase their innovation to the event audience.

The NASSCOM Emerge 50 Awards provide worldwide recognition with local, national and industry-wide media coverage.

According to IAMAI-KPMG estimates, India has a total of 500 million Internet users, over 300 million of whom are mobile Internet users. Much of the growth is coming from rural areas, driven by low-cost smartphones and low data tariffs. Traditional SaaS products created for the affluent, urban English users (and for businesses catering to such consumers) do not work for the new users.

 

Who will create the apps and enterprise SaaS products for the 300mn plus (and growing) denizens of Digital Bharat?  This creates a unique opportunity for SaaS developers in India. But how do you identify the opportunities?

 

 

 

 

To identify opportunities, understand your users. You need to make a difference in their lives; the bigger the difference and larger the number of people effected, the bigger the opportunity. All these are like to be white space opportunities with no international competition. Opportunities will typically fall into one of the following buckets.

 

Can you answer these questions for your users?

  1. How do the users make and spend money today? Follow the money to understand the priorities of your users, where they will spend money tomorrow.
  2. What daily friction do these users face? Can you remove significant inconvenience or risk from their lives?  Can you bring transparency and control where it matters?
  3. What are the unmet aspirations and opportunities that you can enable? Can you provide access and empowerment to pursue passions and dreams?

 

Once you have identified the opportunity, you need to develop it into a business.

 

Find out how at NASSCOM Product Conclave 2017, Bangalore. Save Your Spot Now! Register Here