If you’ve made a version of your product available for midmarket and downmarket customers you essentially have a new base upon which to build a whole new market.
Email delivery service Mailjet offers responsive email templates with the freedom for users to customize as they go. As most responsive templates are fixed and uneditable, Mailjet saw the opportunity to create a way to help its customers code their own email for free. MJML, its unique email coding language, is perfectly positioned to not only assist Mailjet’s current customers, but also offer individual developers value by giving them the means of customization. The result? Free users now speak Mailjet’s unique language and are therefore likely to use its software over the competition as their businesses scale, or recommend Mailjet when they move to a new company.
Moving downmarket FAQs
What is the difference between upmarket and downmarket?
When a business moves upmarket, it changes its go-to-market strategy to appeal to larger, enterprise customers. On the contrary, moving downmarket means changing the GTM approach to expand to lower-income customers.
Who are the upmarket customers?
Upmarket customers are high-income consumers and enterprise-level businesses. Compared to downmarket, upmarket customers’ willingness to pay threshold is higher, however, their expectations of quality and incentives are higher, as well.
What are the advantages of moving upmarket?
Some of the most significant benefits of moving upmarket include:
- Lower competition
- Higher customer lifetime value (LTV)
- Lower customer churn
- Higher profits from individual sales