Go-to-Market Strategy and Assisted Venture Building in the Telecom Industry
Titan is a platform to connect operator, tower company and engineering partner. Bringing innovation to the telecom industry by bringing Titan, a product created by PTM to automise stability studies of telecom towers, to the market. They want to automise and digitise the entire acquisition process. To accomplish this, the first step was to automise the stability aspect since this part is the most difficult one to digitise and you need to convince the engineers, which are the most tough group to convince. Besides these initial challenges, the telecom industry is a mature market with a lot of competition, where they do not easily want to use the software of a competitor.
Determine a go-to-market strategy through both quantitative and qualitative research and help build the venture.
Quantitative Market Research
An overview of the number of transmission tower was made for multiple countries. Additionally, the number of transmission towers per tower company/operator was also mapped. Based on this information, it was possible to identify the main players and also which country was the most interesting to target first. Contact details for telecom engineering firms, operators and tower companies were also requested from various sources (including FIT) for different countries. These contacts where important for the qualitative research.
Qualitative Market Research
The contact list created during the quantitative research was used to determine the needs and pains of the three stakeholder groups (telecom engineering firms, operators and tower companies). This is accomplished with a contact script and a clear plan of approach of mails, reminders and calls. Simultaneously, it was possible to do sales meetings. During these meetings the willingness to pay of the various parties could be gauged, making it possible to set up a price model.
Based on the quantitative and qualitative research, a commercialisation plan was drawn up. By using the local contacts in Belgium and bringing in the first major customer, credibility will be created in order to continue abroad. The go-to-market strategy is accompanied by a financial plan that was also created based on the performed research.
Entrepreneur in residence
Currently, sales of Titan are continued by an entrepreneur in residence of Stretch. Worldwide we are in contact with all major players and we are currently searching potential investments.