You’ve built an awesome product or are introducing a service you want to share. After that, the goal is to become part of the 5% of products that succeed in the market. A go-to-market (GTM) strategy will help you win bigger and lose smaller. A GTM strategy is a bridge between your product and the market, and how to get it in front of the right people.
Here are four easy steps to create this GTM strategy.
1. Decide who you’re selling to
Who you’re selling to doesn’t boil down to just one person or stakeholder. You have to keep in mind other factors to decide a target group – such as which industry needs your product or service, which person will make a decision regarding your product, and who will actually use it. Here are some questions to consider before launching your product:
- Which industry is best suited for this offering?
- Is this a complete solution?
- Is there a specific population size/organization to target?
- Is this a new market or a mature market?
2. Decide what you’re offering.
Decide what value proposition your product has in the market and what components it consists of, including any additions. Here’s a quick three-step process to identify if your offering has merit in the market:
- Identify what the market needs are
- See if your product meets these needs
- Customize the product to meet the needs
3. Decide your marketing channels
Marketing channels are how you reach and connect with your audience. Aside from traditional efforts such as commercials and print, there are several new forms of marketing. Decide which channels can take you to your business goals easily, keeping in mind which ones will work on your target audience.In addition, prepare a strategy on how you will first reach your audience, engage them, and convert them. Tailor your GTM strategy to this model with the help of go to market strategy consulting.
4. Create Content to Support Your Product
Once you’ve laid the groundwork, next step in your GTM strategy is create content to connect with prospects. Some content forms for your prospects include:
- Product demo videos
- Live online demonstrations
- Blog posts
- Landing pages
- Lead magnets (e.g., checklists, how-to guides, etc.)
- Influencer marketing
- Paid ads
Once you create this content, you have to plan how to distribute it through channels such as social media, website, and forums.
Make it easy
The process to create a good GTM strategy requires time and effort, however, it is well worth it and the payoff is tremendous. The Bumblebee Branding Company, in Chennai, India, can help you put together an effective GTM strategy for your company.