Review: Go To Market Strategy – Lawrence Friedman

Title: Go To Market Strategy

Author: Lawrence Friedman

Edition: 2002

Presentation:
Organization – Though the cover, graphics, and chapter pages of this book make it look more than a little gimmicky, the content is actually laid out in a useful, neatly organized, logical way. Each chapter comes with an introduction and summary for easy skimming and browsing. Graphs and figures are neatly labeled and the index is extensive.

Readability – Friedman is conversational and the content is easily comprehensible.
Content:

Friedman’s book begins with an introduction to what he considers the “10 Commandments” or universal truths of going to market. Among these is the challenging idea that not every go to market strategy needs an online marketing strategy. (If you’re like me, you’ll find this particular assertion hard to swallow – but Friedman is quick to provide data and case studies indicating why this might be true for your business). After introducing his universal truths, Friedman goes on to advise readers to choose their target markets wisely, figure out what their customers actually need, decide which sales channels and partners to adopt, and (most important) to make sure they can articulate their value proposition. The book ends with a (slightly gimmicky) ten page “ninety day go to market action plan”. Overall, the book contains solid content and is not afraid to go back to the basics and provide clearly worded definitions for Go To Market and related terms.

Applicability to expansion stage firms:

Friedman’s book highlights many of the issues we at Openview encounter on a day to day basis. It is definitely worth reading before bringing your product to market. The following points especially rang true:

• Validate any assumptions you make about your customers and market… don’t buy into “blue skies” assumptions. Friedman gives the example of, (I myself have encountered this) a software company that goes to market assuming their potential customers wanted an enterprise wide solution. In reality, they needed separate components they could integrate into different departments.
• Figure out if your product is a “need to have” or a “nice to have”. While it’s true that some companies succeeded with a “nice to have” product, the impetus to buy is going to come from solving a pain point of your customer.
• “Filter” your efforts through the right sales channels. Figure out if you actually need high-touch sales reps or if a low touch model will do. At Openview, we’ve encountered many companies where the sales organization has become a perpetual money pit. Where’s the best bang for your buck?
• Be able to articulate your value proposition! As I went over last week, offering a product is meaningless if no one can figure out what your product does.