The common desire of any company is above all to grow.
• How do you get results without spending too much energy?
• How do you know if you are addressing the right audience?
• Are you entering the market at the right time, or is it already too saturated with similar products?
• Is your product profitable?
• Are you asking yourself these questions?
When resources are limited, competition is fierce, and deadlines are short, the best solution is the “GO- TO-MARKET” strategy
What is a GO TO MARKET (GTM) strategy?
It is about structuring and organising the release of a product or service, optimising both the company’s internal and external resources and measuring the customer experience to ensure the success of the product launch.
This strategy is all the more necessary in a competitive environment where communication and distribution channels multiply, and the customer experience is important.
The person in charge of this strategy is involved in creating the product or service from the outset to ensure that all requirements are met.
What are the objectives of the GTM strategy?
• To help the company clarify the purpose of the product launch
• Understand who the product is for
• To create a plan of engagement and persuasion for the customer to buy the product or service.
• Establish an action plan for how the company will reach its target customers and gain a competitive advantage.
• Provide a blueprint for delivering a product or service to the end customer taking into account pricing and distribution.
The ultimate goal is to improve the overall customer experience by offering higher-quality products and/or more competitive prices.
When to use this GTM strategy?
• For the launch of new products or services
• To introduce an existing product to a new market
• To relaunch the company or brand
What are the essential components of this GTM strategy?
1. Market definition: Which markets to target to sell the product or service?
Product-market fit: What problems does your product solve?
How did you validate the need?
2. Customers: Who is the target audience for these markets?
Audience and buyers: Who will buy your product?
How does your strategy support them?
3. Distribution model: How will the product or service be delivered to the customer?
Distribution: Where will you distribute your product?
4. Product message and positioning: What is being sold?
What is its unique value or main difference from other products or services in the market?
Competitive landscape: Who else is in the market?
How will they react to your entry?
5. Price: How much should the product or service cost for each customer group?