Introduction
In a recent podcast episode hosted by Adil Saleh and Taylor Kenerson, Sarah (Wong) Collins from Fellow shared invaluable insights into the challenges and strategies of building out a new category in business. The conversation delved deep into the importance of recognizing specific business indicators and the role of automation in streamlining processes. For GTM (Go-To-Market) teams, understanding these nuances is crucial. It not only aids in identifying potential market opportunities but also in optimizing strategies for better market penetration. This blog post will dissect Sarah’s insights, offering GTM teams a roadmap to navigate the complexities of new category development.
TL;DR
Sarah Collins emphasizes the significance of identifying unique business indicators when building a new category. She underscores the role of human expertise in recognizing these patterns before integrating technology for automation. Fellow’s journey serves as a testament to this approach.
About Fellow
Fellow is a cutting-edge platform designed to transform the way teams conduct meetings. Positioned as the go-to solution for productive team gatherings and impactful one-on-ones, Fellow empowers teams to collaboratively build meeting agendas, record pivotal decisions, and ensure mutual accountability. With a vision to bid adieu to unproductive meetings, Fellow introduces features that foster accountability, encourage continuous improvement, and facilitate productive interactions even with external stakeholders. Whether it’s integrating with popular tools like Google Meet, Zoom, and Slack or offering a suite of features centered on meeting productivity that rivals Google Docs, Fellow stands out as a game-changer.
Why is recognizing business indicators crucial for new categories
Sarah Collins provides clarity on this:
“So when it comes to our business, what we were finding is that because we’re building out this new category, what our process looks like, for those indicators was very different than other organizations.”
Every business category has its unique dynamics, challenges, and opportunities. Recognizing these unique indicators is paramount for businesses to understand their market position and potential challenges. For GTM teams, this means a more tailored approach to market strategies, ensuring better alignment with the category’s nuances. Moreover, these indicators serve as a compass, guiding businesses in their decision-making processes, resource allocation, and strategic planning. Ignoring them could lead to misaligned strategies and missed opportunities.
How can teams identify these patterns effectively
Sarah emphasizes the importance of human expertise in the initial stages:
“So what you need to do when you’re first starting out, is to have people that can help to identify those patterns. And to do that really well.”
In the age of data-driven decisions, the value of human intuition and expertise cannot be understated. Before diving into technological solutions, it’s essential to have a team that can discern these patterns. Sarah’s mention of Fellow’s implementation team’s role underscores the importance of human intuition in the early stages. This team becomes the foundation, setting the stage for subsequent technological integrations. For GTM teams, this means investing in talent that can understand and interpret market nuances, ensuring that the foundation is robust before scaling up.
What role does automation play in this process
Sarah shares Fellow’s approach to automation:
“So that’s what we did at fellow is that our implementation team was pretty integral in terms of identifying a lot of those patterns. And then we took that information and we started to automate it.”
Automation, in today’s fast-paced business environment, is not just a luxury but a necessity. Once patterns are identified, automation becomes the next logical step. It ensures that the processes are efficient, consistent, and scalable. Fellow’s journey is a testament to this. By automating processes based on the patterns recognized by their implementation team, they ensured efficiency and consistency in their operations. For GTM teams, this means leveraging technology to optimize efforts, reduce manual errors, and ensure that strategies are executed seamlessly.
What specific indicators did Fellow focus on
Sarah mentions some of the key indicators Fellow concentrated on:
“So the things that we’re looking at specifically, our general usage, you know, our champions leaving the organization as well, and all kinds of other indicators like that.”
Indicators serve as a pulse check for businesses. They provide insights into user engagement, organizational health, and potential challenges. Sarah’s mention of “general usage” and “champions leaving the organization” provides a glimpse into the metrics Fellow prioritizes. For GTM teams, it’s essential to identify and monitor similar indicators relevant to their category. By doing so, they can preempt challenges, optimize strategies, and ensure they remain attuned to market shifts.
Key Takeaways
- Recognizing unique business indicators is paramount for new category development.
- Human expertise plays a crucial role in the early stages of pattern recognition.
- Automation, based on identified patterns, ensures efficiency and consistency.
- GTM teams should focus on relevant indicators to stay aligned with market shifts.
Conclusion
Sarah (Wong) Collins’ insights provide a clear roadmap for businesses venturing into new category development. Recognizing unique indicators, leveraging human expertise for pattern recognition, and subsequently automating processes are the steps to success. For GTM teams, this offers a structured approach to market strategies, ensuring better alignment with the category’s nuances and optimizing efforts for market penetration. As the business landscape continues to evolve, staying attuned to these insights will be the key to navigating the complexities of new category development successfully.
