With the advent of IOT, a lot of simple and technology backed solutions have solved for many human problems. One such solution is the use of smart mailboxes in different places to enable seamless customer delivery with improved efficiency.

Smart mailboxes can be installed in multiple places like apartment complexes, public stations and so on for dropping off the packages and can then be used by the end customer to pick up their package as per their convenience.

The client was a smart mailbox manufacturer based in USA and wanted us to help them develop the GTM strategy & define the target group for their product as part of a new market entry. There are already a lot of players in the market, the biggest one of them being amazon itself with their services like amazon lockers, amazon hub and so on.

The challenge was to enter a market with strong incumbents like amazon and other smaller yet agile firms that had established their own niches.

The key challenges were –

Geography prioritization of different cities in USA with the timeline for expansion

Customer segment prioritization of the different broad customer segments as per the place of installation with a timeline

Targeting user segments to reach for tapping into the broader segments

Sales vs marketing approach for tapping into the users

Validate product fit with customer demands and expectations & recommend an expansion plan

We approached the problem by taking into consideration the company vision and their goals in the short, medium and long run. Post this, we studied the macro-economic environment, the industry dynamics to find out the trends in our industry. Post this, we deep-dived into competitive landscape mapping & analyzed their strategies to create a differentiated offering. We then sized the market and triangulated the numbers with multiple approaches to finally deliver the go-to-market strategy. The key takeaways are as follows –

We took into account the different segments we wanted to target in the various geographies and sized them all, accounted for any potential overlaps and consumer loyalty to come up with market sizes for all the major cities and used this to prioritize the geographies.

We segmented the different places basis the factors like footfall, residential area size and so on to decide 3 segments we wanted to target like buildings, student accommodations and so on.

Created a long list of high-value clients who had to be targeted by us for tapping into the segments we had prioritized.

We decided on a personalized, sales-based approach for a high-value product with low number of buyers as against a mass product which needs top of the mind recall created via marketing.

Analyzed the market potential and product fit to recommend an expansion plan for the product portfolio over a period of 3 years.