A Go To Market strategy is a Management Technique, not a role and certainly not a Technology
For Technology and Supply Chain SMEs wanting to grow bigger and launch a new product or service, a Go-To-Market (GTM) strategy can be invaluable for guiding scaling activities.
The GTM should, at a minimum, define:
Generally, there are three main situations where you'll need a GTM strategy refresh as an existing business. You'll either be:
For more information on defining your growth plan and launching new products or services, visit Least cost growth model which covers Ansoff's Matrix.
There are several stakeholders in an organisation who should be contributing to the GTM Strategy. However, the GTM Strategy should be owned by the CEO and driven by everyone. In the past, the research and messaging were managed by marketing, and this formed the basis of the GTM. However, things have changed in the B2B Sales space, and sales leaders will likely take a bigger role in contributing to ICP, Value Propositions, Pricing and Packaging and Competitive Intelligence from the field.
The next steps can include:
1) Creating your ICP (ideal customer profile) in detail
2) Spelling out your Value Proposition to solve the business problem (product-market fit).
3) Developing counter-competitive messaging based on real-world competitive research.
4) Aligning digital Content to the stages of the buyer's journey for each persona.
5) Assessing specific competition and broader market and economic conditions.
Once your initial GTM Strategy is complete, you can use it to tweak your Sales & Marketing Plan, update the Sales Playbooks and Sales motions and mix Inbound and Outbound. The GTM may trigger the need to review Pricing and Packaging and Sales Enablement assets such as Presentations, ROI calculators, testimonials and case studies.
It's all about lining up behind the buyers' journey- start to finish or, better still- lead to customer.
A good way to check if your GTM is complete is to imagine a new salesperson starting at your company. The GTM should answer all of their questions so they understand who they should be selling to and why customers will buy.
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