Peakora

Description

FULL B2B STARTUP CASE STUDY GOING THROUGH THE GO-TO-MARKET AND SCALING STAGE

Wingtra is a B2B startup from Switzerland and world’s No. 1 VTOL drone producer. They develop, produce and commercialize high-precision VTOL drones that collect survey-grade aerial data. For 6 months, the executive team and company went through the Scaling Program with Peakora and worked on the core business topics to scale the company.

Challenge

• Not measuring PMF Investing in traction before having good Product-Market Fit
• No ICP focus No focus on specific Ideal Customer Profiles
• Unclear MMF Not attracting the right audience, not having Message-Market Fit
• Wrong GTM Approach Building an unprofitable business from the start

Solution

1. The first step was to ensure that the company has achieved Product-Market Fit. By introducing a qualitative PMF Framework the first time, the company got invaluable insights about the value they provide to their customers, their unique selling propositions, and their Ideal Customer profiles: Very high PMF scores were measured across all industries (avg. 74%), which signals that the company is ready to scale. One industry reached a score of 92% (Mining & Metals), which was a very important data point for a later defined sales strategy. The results of the PMF survey defined the product roadmap for the upcoming quarters.
2. The marketing and sales team was tasked with covering 3 continents and more than 10+ industries. With only 2 marketers and around 15 salespeople, it was hard to keep a focus and start creating flywheel effects. To solve this problem, we needed to identify a core segment to focus on. From the PMF Survey, it was revealed that the Mining & Metals industry showed the strongest PMF-Score. Additionally, conducting retention analysis, analyzing the existing client base, market research, competitor analysis, and market accessibility research helped us narrow down to three core industries. With this newfound focus, Wingtra now had a clear direction on how to allocate its limited resources in marketing and sales, where to prioritize efforts, and how to initiate the creation of flywheel effects within these selected industries.
3. Ensuring Message-Market fit - We created a USP Grid mapping all benefits in the market provided by Wingtra and their competitors. The team then rated how well they deliver on each benefit compared to their competitors. From the PMF Survey, we also identified the benefits most valued by Wingtra’s users, using quantitative insights to validate our findings. Ultimately, we determined which benefits truly stand out against competitors, forming the core of their USPs, upon which the messaging was created. This new messaging was then applied to all marketing and sales collateral, and we adapted both the website and the most important landing pages accordingly.
4. Choosing the right GTM Approach - By applying the GTM Matrix, we could validate that, given their ACV dealsize, adopting a high-touch sales-led motion was the right GTM approach. Given the nature of their business, channel sales would be the method to ensure long-term profitability and scalability. What was lacking was a focused sales strategy, as they were targeting over 10 industries across 3 continents. This made it extremely challenging to build brand awareness and capitalize on the flywheel effect. With the newly defined ICPs and focus, a 'Beachhead Strategy' was formulated, and the sales team was reorganized accordingly. This new sales strategy enabled the company to conquer market after market while concentrating all their resources on one market at a time.

Results

Outcome after 6 Months:

Achievements

• Quantitative validation of PMF and scaling readiness
• Development of core ICPs to drive flywheel
• Identification of clear USPs and implementation in marketing and sales collateral
• Implementation of a beachhead strategy as part of their GTM Approach
• Installation of needed tracking for the Pirate Funnel
• Identification of biggest growth levers Application of OKRs to set a clear focus
• Setup of growth hacking frameworks and launch of first experiments
• Installation of a scalable sales system