Definition: The meaning of table stakes is putting forth the requirements to be in the game at all. In poker, each player puts in the required minimum bet to be in the game and then can add to their bet as they start to receive cards.
In bank marketing strategy, a fractional CMO may be helping decide what offerings make sense for the ICP in sales. Those special capabilities may delight that buyer persona, but if the bank doesn’t offer table stakes meaning basic services like a solid online banking experience, branch training on common needs like sending wires, etc., the lack of these may be a show stopper.
When we audit sales funnels for SaaS companies, there is often a really interesting, differentiated product but sometimes overall bugginess and non-standard ways of signing up, navigating, etc. can cause too many closed-lost deals. Fixing these items then unlocks the growth the company desires.
A properly configured CRM like HubSpot and session recording tools like Hotjar will help uncover whether a company has missed the table stakes in their digital funnels.
“Table stakes” is the correct term. “Tablestakes” is not.
Use It In a Sentence: Did you hear about the latest feature gimmick? It would be really cool if we already had table stakes.
Looking to ensure your business meets industry ‘table stakes’ and stands out in the market? Our sales funnel course provide strategies to identify and implement essential offerings that keep you competitive.
Related Terms: Minimum Lovable Product, CRM Hygiene
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