GTM Strategy: Fitbit Premium Enhance Project
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Final presentation of Go-to-Market Strategy for Fitbit Premium Project for University of Washington Software Product Management Certificate Program. June 2013
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GTM Strategy: Fitbit Premium Enhance Project
- 1. GTM June 5, 2013 PremiumTM Subscription Service Final Presentation Greg and Nathan
- 2. Product / Value Proposition to lead healthier, more active lives: • Make it easier: more active, eat smarter, get enough sleep • Core belief: Small changes add up to big results How? Create innovative, inspiring products that : • make people more aware of everyday activities AND • motivate them to do more. Fitbit helps people…
- 3. The Fitbit Story So Far… Google Trends (past 12 months) Fitbit = 2 x Nike Fuelband Fitbit = 3 x Jawbone UP F = Fitbit One Launch/Xmas/New Year Resolutions D = Fitbit Flex Announced A = Fitbit Flex Available
- 4. Strategic Overview Initial Objective: “Develop subscription software / services in a way that engages existing customers and attracts new ones.” 1. Energize Customer Base (reduce Churn rate) via better UX 2. Retain Base Maintain Trust/Loyalty "We are never going to be an advertising- or marketing-driven company. That has earned us a lot of trust with our users. That is primary.” 3. Develop/enhance Premium UX as Value Add for Fitbit @ Work
- 5. Brand Strategy / Target Audience • Awareness = High • Market Share = Medium • Likeability = High Marketing Strategy: Advertise / Extend Brand to increase Market share Directing Marketing-focused on Key Channels for Target Target Persona Trends/Needs: • 25-50 years old • Working parent • Time is precious • Balance Work/Family/Health • Requires Ease of Use • Set good example for family.
- 6. Market Positioning - Trends Google Trends - Fitness • Peak Interest in fitness in Q4 – New Year’s resolutions
- 7. Go To Market Campaign • Print = $106K • Social Media Marketing = $134K • Display Ads (Affiliate Program) = $23,000 Marketing Campaign: $264 K Duration: Q4, 2013 – Q4, 2014
- 9. Go To Market Campaign $264K 2013-14
- 10. Premium CAC by Channel Channel Premium Conversion Rate Premium Units Acquired Contribution Margin (Sales mix) CAC Magazines: - People - Working Mother 8.2% 43% 2,280 484 58% 8% $39 $35 Social Media: - Facebook 11% 1,283 33% $105 Display Ads: - Fitbit Affiliate Prog 2% 60 2% $6
- 11. Go To Market Objectives Marketing Targets for 2013-2014: •Increase Premium users 10% by end of Q2 2014 • Increase Fitbit device users 15% as of Q1 2014 •Increase overall Premium users 25% by Q1 2015
- 12. The Ask Approve $264 K GTM Campaign for Premium Enhance What we get: 1. Energize Customer Base (reduce Churn rate) via better UX 2. Retain User Base Maintain Trust/Loyalty "We are never going to be an advertising- or marketing-driven company. That has earned us a lot of trust with our users. That is primary.” 3. Develop/enhance Premium UX as Value Add for Fitbit @ Work
Editor's Notes
- For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
- Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
- For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
- Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,
- Market Drivers:Quantified Self Movement – over 80 meet-up groups worldwide with over 6,000 members.According Pew Internet Research Survey, over 21% of respondents use technology for Self-trackingMarket for devices relatively tiny, but smartphone adoption booming MEANS – migrate Premium tracking to mobile platform. For hard-working moms & dads who “don’t have time” to take care of their health…Unlike complicated and limited Striiv, Nike, BodyBugg devices…*These devices: Only track physical activity (NOT eating or sleep diets)Locked into 1 or 2 platforms,