Latest / GTM Made Simple / The TAM Illusion Destroying Your GTM Strategy
Transcript
- Oh, that sounds good, Melanie. That's fantastic. I can't wait to do the intro for it. As a matter of fact, I'm about to go record it. All right, sounds good. Talk to you later. Bye. Have you ever talked to a CEO who said they have a big market, yet are struggling to grow? Well, that's the growth trap that most CEOs never break free from, and I just got off the phone with Melanie, who has who's literally helping a CEO break out that exact growth trap, and you're going to hear the whole conversation. Serge Gander, who runs a company called BinAWAIT. They're about a 50-people company, 15 years in business, and the technology is super cool. They can detect bacteria in water in real time. So, it's a real tech with hundreds of customers in over 100 countries. But, like a lot of CEOs that we work with, he has the problem where you don't hear much about it. He has all the research around this big TAM, called the total addressable market. You might have heard about it. But, it was too much [music] of a market. It's too big, and not enough focus, which really slowed their growth, and this might sound familiar to you. His total addressable market looked incredible on a slide. Three or four industries, global reach, and a huge upside. It was almost impossible to execute against it because that's too much. So, he brought in Melanie, who's a GTMOs certified partner, and her team from CRO to Go, and they actually are helping them run their business on GTMOs inside his incredible [music] business. So, you're about to hear that from Serge in his own words, walking through what [music] changed, how they took his TAM and narrowed it down so they can actually work on what we call TRM, total relevant market. You're going to love that concept, and how his team is going [music] from guessing everything around this big TAM to actually executing around TRM, the total relevant market. This is GTMOs in action, and with a CEO who ran it, with a certified partner who helped execute on it, and they're getting clear results that came out of it. So, if you're ready, let's get moving. Good. Hello, sir. So great to have you here today with us. And uh I would say before we jump into all the questions I have today, I would love to give you the stage to a little introduce yourself and BINOVIT, and where you are on your own growth journey. Hey, Melanie. Good to uh see you. Thank you for having me here. Pleasure. Thanks. So, I'm Sans Gander. I'm CEO of BINOVIT Technology. And we are based here in Switzerland. We work in globally but out of Switzerland. We have invented and developed a system that detects bacteria in water. So, basically, what it does is by detecting bacteria very early on process, we can give data to our customers to monitor their water. So, with all the the things that's happening around the globe and all the technology advancement, what is the the biggest excitement for you being the CEO of BINOVIT at this stage in in time? Yeah, this is this is a great question, actually. But we at BINOVIT we're at a crossroad between data and water. And honestly, today in the world, water is life. So, [snorts] whenever you go, wherever you go, whether it's for drinking water, whether industrial water processes, uh water ways or on the world, bathing waters, you know, it's everywhere. So, it's life. And we are handling we we basically digitalize water. We see what is in the water. So, in today's world, we really able to bring that technology and that information to our customers. So, that's super exciting because it's about safety. It's about optimization. It's about business management. Uh so, there's a lot of things. So, we've been already we're in a crossroad of that's what's going on right now in the world. Great. And I love the catchphrase, "New digitalized water." That's great. So, um where are you on the growth journey? Like, let's say let's spin out the next 6 months, where do you want to grow the most there? Well, first of all, where we coming from? You know, we we we are we are a 15-year-old company, roughly. We are on the market for 8 years now with actually instruments shipped around the world. And really we are where what we call starting to taking off, starting to get a momentum in in countries, in markets, in different industries. And what we see the next 6 12 months is really an acceleration of that momentum on the market. Great. And I remember when when we worked together, right? What was for you the the trigger point when you said like, "I want to grow. I have like all these new products and features on my road map, but I need help with go-to-market." Yeah, Binovate has as I said developed this incredible technology. We had a few good products on the markets, and we were launching new products, and we had a technology pipeline that's were allowing us to project ourselves forwards on different industries, different sectors, different geographies. And we felt that we needed a clearer strategy cuz our our corporate strategy is very clear. We know we can re-reach many industries, many sectors around the globe. What we needed is something way more precise to get to market, to really get to the customers. And this is something that we started to say, "Okay, what do we need? How organize? What kind of template? What kind of strategy we need to have to be able to implement and execute really properly our vision, basically." Yeah. Uh perfectly said. Um I mean, I would hire you for pitching us, but before we go before we go more into that direction. Uh what before we spoke, right? And then I come to that later how we see go-to-market or how GTM partners see go-to-market. What does it meant for you as a as that at that time? Well, for me, go-to-market is really go beyond having a product market fits. It it's more than that. And and and clearly this is not always understood even internally. Um so, I I think it is important to have a template, to have something that you have a structure. Uh and then you have a pathway towards something. And you know, there is just more it's a multi-dimensional approach also. It's not just one or two things that need to happen. Uh you know, it's not just the five Ps like you know it used to be. You know, there there is a more complex uh you know, things. And I think this the realization that a go-to-market is more than just placing a product on the market. That's when we start to say, "Okay, maybe we need people like Sierra to go or we need a proper GTM templates and work and framework to go with it." Let me give you an example. You know, you you place a product, you know your customer, but do you know really your buyer? What are you going to tell your buyer? What does he want to hear? You know, this is the kind of thing that makes that extra the final mile to get that win, to make that customer say, "Okay, he understands me. He addressed my needs." And I think this is one of the thing that we realize when we looked at how detailed a go-to-market strategy or a go-to-market plan or playbook is. Absolutely. And I know I remember when we um when we had the first talk, right? For us And that This is a kudos to you, Serge, because we see that especially in in Europe go-to-market is still seen as a department um topic. It's still seen either it's in sales um somewhere in sales or somewhere marketing. And also here in in the DACH region it's then you do it once a year, then you have some nice slides, and then you somewhere put it in the drawer, right? But that's also what we preach day by day, so that go-to-market is a CEO topic because CEO he's the only one who has an umbrella view and and really can see where to pin down marketing in which direction sales need to go and then customer success or the whole flywheel we always um discuss with our clients. And I remember you were one of the first CEOs I spoke who took I mean immediately got that, and that's kind of rare um because it's still seen as a as a department topic. And also what we say is And what we see, I mean, by the numbers, right? If you ask client If you ask your CEOs and founders, 64% uh according to HighAlpha say that go-to-market is their biggest problem. It's not AI, it's not technology, it's not the competitor. It's like, how do they bring the corporate strategy to the market so they actually can generate value and and revenue. And so for us that was an easy play with you because you immediately got it, where with others we have to do a little bit more thought leadership work on that one. Um yeah. So kudos to you. Yeah, no, I think Listen. I think go-to-market is is a subject that should almost be taught at uni, you know, like a master in go-to-markets because it is not just as I said several su- you know, a few subject, it's the it's a plan, it's an approach to business. And it's really also a a preparation for good and perfect When you want to grow, you've got your strategy, you've got your vision, you know your market, you've done your your your market survey, market sizing, and so on. But you do need to execute. And I would say traditionally execution is down to people to you know, you do business plans, you explain how you're going to have a sales plan. You need to see how you motivate your sales team, how you do a marketing campaign, and so on so forth. That that's all part of our traditional way to to market. To have a proper framework actually to playbook to execute after that and to have alignments from your own organization. Whether you know, they are our own staff, our own team, or also distributors or partners around the world. You know, there's an alignment of how we want to be on the market. And I think that's framework brings this. Um I would say discipline um towards a very good execution. You know, for me Melanie, go go-to-market, you know, we we had a great relationship. Very good to go with that framework that you brought with the GTM framework. You know, it was really good, was very helpful. One thing that I realized, Binovate provides data to avoid guesswork for the customer in the water. They are sure what is in the water. I can tell you, this is exactly what we had with GTM framework. There's no more guesswork. We strict discipline and we get to the execution. No, absolutely. I like that. I also like that that you said like now we lift the system, right? Because we also say that that go-to-market is like a product. You have to refine it, you have to adapt it, you have to implement all the the feedbacks you got. So, maybe please tell the listener what you got out from our our collaboration like in terms of deliverables, how how we could get that within I think four to five weeks. And also, how did it change um the impact and the change you got from it after we left the room? Well, I think cooperation was twofold. I mean, and the impact it was first an internal impact. It's as I'm I'm you know, it allows alignments internally as a team. It's a it's aligned It's aligned with the vision that what we have for the product as a company. But it's also with a future execution on the market. So, this really that the first impact that was even more like an internal impact. So, that was really good, you know, that was really really good. The second impact, of course, is straight on the market. We're able to really be way more focused, way sharper. Um and you know, when you focus and you're sharp, you get the customer you get you get to answer the needs. You need to address the needs. Um and that has an impact. And we did have people understanding faster and easier what we were offering. Yeah, I remember. I mean, we did the whole exercise around ICP, right? About in which segment, with which messaging, all the whole stakeholder mapping, and also defining because if you were from a hardware engineering product you mainly had to to into the cloud selling into the cloud, right? You have therefore you have like two to three four different and new stakeholders. So, you also need to address them with different messaging, and it's not about the functions and the features of the great product you have, but like what is the impact and the value you give to them. What is the return on investment for a CIO or let's say for a head of development or R&D. All these things. I remember that was the first exercise, and then we also could bring it into into life with the playbook, right? And what you mentioned you also you started the team. My question here leads towards how did the team receive that the message that you work with external because you have great revenue team already. You know, when you when you when you have a good product and you have a great technology, you feel at first that's okay. It's it's a tech push. You know, you need to be okay. You know, and as you said you you you you you you focus on your features. And you you forget of really for mentioning benefits or ROI for the customer and what really has an impact on the customer. At the end of the day we had been already I mean we handling water. We making sure that water is safe or water is optimized. I mean we talking life impactful decision. So, we need our customer to understand this. And I think it helped internally with our team that are very heavy tech you know, thinkers and you know, what we've got is very high-tech solution. So, we were able to evolve from a very tech you know, tech push solution to really a market pool of course but really marketing vision. And and that helped with the team. The team actually it helped me doing a bit of a culture shift uh within the team to think market. And GTM I feel was a good example to to do this you know, because a good way cuz you you know, you I did seminars. I I I I you know, I drove my team to no markets. I I I drive a culture change from tech to commercial by creating more diverse environments within the team to be more commercial in a sense if you want from tech to market to commercial. GTM framework [snorts] actually brings a structure. And when you speak to engineers and tech, they like structure. So, what you know, having a structure, they accept it and the structure help them move and shift culturally towards more uh you know, market solution, you know. Yeah. And I know I know absolutely and one thing you're just wanting the team, right? Because for us we are like we're we're pioneering the whole fractional evolution as it is in in in Europe in in the Nordics in the in in continent all over. Because we see it's just like also for the for the economic state where Europe is like the best version because you can parachute in and out and it's really focused and less of a cost cost discussion but more like of an of a investment discussion. How did you or let's say like this were you open to the idea of having fractionals during such strategic work were you was it for the very first hesitant and what what made you say yes? Fascinating. There's always a an hesitation at first because this is strategy. This is this is the heart of your business and you want to build a structure that continues selling, you know? You just don't go to market and then drop out of sight and hope that then you will sell lots and your customers will keep coming. So, obviously at beginning it's okay, how does it go having a go-to-market team coming in telling us what to do but then really how do we follow up? How do we get through for the long term? To be honest, this this was the biggest positive experience and surprise in a sense but positive you know, experience that I've had. Because first of all, I think Certo Go you got you Melanie and your your your partner and within this this framework you managed to really be very very quickly operational. And that's critical, you know, you you you you can teach GTM as I mentioned before. You can You can explain to people how helpful it can be and so on. But at the end of the day, the experience that oh, wow, very quickly you're part of the team, very quickly you understand and you're driving and you're pulling people towards that market focus. That was actually something that was very very good and very very helpful. Yeah. Thank you so much. Um uh where would you say because you you call us two M's because we're both Melanie's. M&M's. M&M's. M&M's. M&M's. Exactly. M&M's of revenue. Um where would you recommend us like to what kind of new peers would you say hey, you you have the next thing you have to do, pick up the phone and call Zero to Go? The energy um I think that's that's great already. So, I think any any company that's that understand they need some energy. Uh that's very important because you know, as a CEO or even if you have your a great C-suite around you. I've got some great people at the C-level and senior management team. You You need sometimes also that additional extra uh team, you know, you when you're growing company, you know, and you you you attract talents and so on. So, that's that's the energy first. The second thing I think is also the really uh convinced that you can make a difference. So, basically you you need you you need to find You need to find companies that are you know, you're talking about before like inflection points. Yeah. Where they have There are products. They start your market. There are a few things but and there are more product to go. But how you get to those more products and how you get organized to have a good execution. That's what That would be the sweet spot of that GTM entry point. And there's I think there are thousands of companies out there and then, you know, we are about a 50, uh, you know, people company. So, I would say we are a SME, uh, you know, scale-up SME, uh, company. But I would say people, you know, companies like 10, 15 people that start to be organized, they're hiring sales, but the sales need to have a plan and a GTM is a plan, you know, that helps that. Then you can go to companies that are, I would say, hundreds of people too, even thousand because it can be a specific project, something that maybe is new, that is maybe disruptive within the same company also. Um, that you need to have a framework and guidelines that give that discipline I mentioned towards an execution. And, and if you are in front of you, if you have in front of you senior managers that understand the need for that playbook, that framework, that discipline towards a good execution, I think you will have your customers there. And that's how you expand globally, whether it's in Europe or around the world. Uh, I would say even in Asia also. Um, Yeah, no, oh, no, absolutely. You Um, again, I I will hire you to pitch us. We can You just nailed it down right where we normally come in. It's like it's like companies like yours where you have like innovation or after a restructuring because you need to have like GTM research for a new um, product, for new feature, whatever comes, right, as you described it. Or and we also see more and more this especially I think in in Germany and Switzerland is the hidden champions, the the SMEs. We all have like the whole economy is built on companies doing 4 to 15 years the same thing and now they need to change because the market shifted, but the GTM hasn't. And now they need to change fast and they bring and they they there we do a lot of change management work as well whole company, all the revenue and architecture. Or, then also then M&A is also thing we we see more and more react clients after private equity coming in and you have two competitors and now they need to play together in a very short time towards very aggressive targets. So, absolutely and um yeah, we we keep we keep on pioneering that and we we wish for more clients like you. Because it was all the pressure to work with you and it was very collaborative. You know, it wasn't like we didn't felt like outsiders and that also helped us to deliver whatever you needed us to deliver and then not just succeed together. I mean, talking about the tooling, I really think we we had to do the the first the first pillars we did ICP team around and then also the sales enablement. So, we did the strategy and then the the execution sales enablement. That's what we did, basically. And the tooling, I think what we also did as Yeah, we did the whole, you know, like coming as a vitamin C, a nice to have with the dashboard to be the painkiller. So, there to have the right message. So, that's what we always say to our clients, you need to be the painkiller because otherwise no one will pay you the the money you want to have. I think that collaboration with Cialdini Go and using the GTM framework gave us confidence. So, there were an impact internally. It gave us confidence that we can really go to market with our product. It opened eyes. I I you know, we came up with that we had some great session. We came up with a very very crystal clear one-liner that I could feed the team. They were happy because we were giving them tools. We were giving them cards, like jokers cards, like playing cards that they can get they can go out there and use it. And I think that that was I would say probably one of the early impact I saw because that was internal. Clearly that was that was huge for me. The second thing cuz you know when you grow a company you need to make sure that people understand what they're doing and and and having an alignment you know in terms of how you go to market is very important. You have to you have to repeat the message on and on and on and so on also. You know we came up with those one-liners that really gave that they were tools they were we carved that people were using so that was very powerful. Externally on the market the impact was very clear. We we we were able to attract very good customers now and secure. Because they knew they felt that we they felt that we knew them we understand the problem and we were saying and demonstrating because obviously you know saying is one thing. You know at Binovate we we are very fortunate that we have a product you know we have 500 units around the world we got 100 plus customers with you know Fortune 500 companies whether from municipality water to F&B food and beverage and pharma. It gave us the impact it gave us confidence to go to those customers and speak eye to eye because we knew we had the tool we had the right thought process before going to them. And as an impact they were listening. And when a company customer listen then you come with your product and a solution we do demonstrations and we secure orders. Clearly that was really key for me. I also remember like Binovate has great clients over different industries and sectors in the end right? And I remember when we asked you where do where do you see your product going? And then you said like, "Oh, we have like three to four sectors where we want to go." And I remember we had that conversation where we said like, "This is a total addressable market. That's great. But you need to start somewhere because you need to be laser focused and actually move the needle and get all the focus and the energy in one." And so we we came from this total addressable market to the total relevant market, which in the end were I think two segments we defined with clarity about which which was the leading messages. And also because you have a more than one product, all of which is the basically the beachhead service or product you go in into a very specific market in a very specific market. And then once you succeed there, you can build up. Yeah. You know, absolutely. We we Our key product is called Back to Sense and basically addresses really any industry. Uh you know, from drinking water to industrial water to pure water. So, clearly when we when we when we launch a new product, initially we said, "Okay, we go for the whole thing because we know that the platform and the technology works for everything." When we work with you and through that whole GTM process, we said, "Okay, these one at least for the launch part, at least for the early early wins." Because at the beginning, you know, that's what you need. You need that early wins. Um that's really where we got to those real relevance, actual business that we could create. Um and that was very very instrumental in our process. Yeah, thanks so much as there for for being here, for taking the time, and also for going through the process and the collaboration again in in mind or at least in our conversation. I think it was a great one. I really liked working with you, helping you. And as you said, I also believe there's so many clients and companies especially nowadays and all that that dynamics new technology geographical um shift who need someone who brings framework and tool set as zero to go does together with GTM partners to really bring them up to speed and become laser focused so they know where to go in the future. Well, thank you. Thanks for again for having me here and nice chatting nice sharing the experience and really the impact that that you guys had on us coming on board with with your energy with with that framework with that really drive to to to have to have an impact on on our companies so I appreciate that. That was fun also so I'm sure that we Yes. we work we will work together. Yeah. Yeah. We were I remember just the side note I remember you were in Asia and we were and Mel was I don't know where she was but I was in Europe so we had like a 24/7 going around. Absolutely. Yeah. We had some great exchange so that was that was fun. And yeah good luck to you guys. I mean it's yeah it should be global. And Europe is definitely somewhere I can feel very receptive. Uh a lot of small countries in Europe you know in compared to for example the US or China or you know like the big countries where you have obviously different provinces or different states you know but Europe you have different countries um whether France or Germany and UK these are different countries. And then you have a lot of small countries smaller countries like like Switzerland Holland Belgium and Sweden. Uh we which are great markets Austria great markets to to penetrate and if you are focused uh if you bring that discipline and for very focused execution I think there's a playground is big the playground is big there so yeah it's good luck good luck with that. Good. Thank you so much. It's stories like this that remind me why we built GTMOs in the first place. If anything in this conversation made you think, I wish I could have someone come in and help me with my business, well, go take the free go-to-market assessment because go-to-market is the business. And over 3,000 businesses are already running on GTMOs. So, the question is, what's your excuse? It takes only 15 minutes where you it will show you exactly where you're stuck and give you the next move that will get you growing again. The whole point of the GTMOs is a system you can run on. So, if you're ready, [music] subscribe and let's get moving.