What is a Go-to-Market strategy?
Posted: Thu Dec 26, 2024 8:14 am
A Go-to-Market (GTM) strategy is a plan that helps you define your ideal customers, coordinate your messaging, and position your product for launch. A GTM strategy also keeps key business units aligned on the same plan. This allows you to meet a market need and effectively iterate on your product.
Who Needs a Go-to-Market Strategy?
Anyone who finds themselves in the following three situations needs a GTM strategy:
Launching a new product in an existing market
Launching an existing product in a new market
Testing the market for a new product for growth
This is relevant to individuals and businesses in the B2B space.
Why do you need a GTM strategy?
GTM strategies provide the insights companies need to effectively position themselves against competitors, create scalable inbound and outbound models, and leverage the right tactics to achieve their goals.
Launches often fail when companies assume there is a need for a product in the market and invest in its development without gathering this information.
What are the different types of Go-to-Market strategy?
The two main types of GTM strategies are product-led and sales-led.
A product-led GTM strategy list of telegram users in canada uses the product itself to acquire and retain users.
In this approach, the product serves as the salesperson by providing so much value, the user can’t help but upgrade their package. Canvas and Slack are great examples of product-led growth in action.
On the other hand, a sales-led GTM strategy uses marketing to spark interest in a product, capturing it in the forms of content and demo.
Salespeople then target those leads with the goal of converting them into customers. This is the approach that HubSpot and many other B2B SaaS companies
use . In this blog, we’ll tell you everything you need to know about a sales-led GTM strategy, providing examples and answering frequently asked questions.
6 steps to create a GTM strategy
01. Define your ICP
Our Ideal Customer Profile or ICP is a comprehensive description of a perfect customer.
This is the type of customer who can find huge benefits in your product or service, while also being able to give you enough value in return to make your business profitable.
In most cases, this is the ability to use your product to improve their bottom line, but there can be other benefits, such as:
Cost reduction
Boosting efficiency
Improve staff productivity and well-being
In return, your ICP returns value to you in the form of revenue. It can also provide referrals, customer insights, and testimonials.
To develop your ICP, you need to know:
And, as we explained in our article on B2B lead generation , you also need to:
"Accurate and up-to-date B2B data. Poor quality data will cause your teams to target the wrong people. Quality data ensures your teams create data-driven marketing and sales plans that target the right people, resulting in faster growth for your organization."
Who Needs a Go-to-Market Strategy?
Anyone who finds themselves in the following three situations needs a GTM strategy:
Launching a new product in an existing market
Launching an existing product in a new market
Testing the market for a new product for growth
This is relevant to individuals and businesses in the B2B space.
Why do you need a GTM strategy?
GTM strategies provide the insights companies need to effectively position themselves against competitors, create scalable inbound and outbound models, and leverage the right tactics to achieve their goals.
Launches often fail when companies assume there is a need for a product in the market and invest in its development without gathering this information.
What are the different types of Go-to-Market strategy?
The two main types of GTM strategies are product-led and sales-led.
A product-led GTM strategy list of telegram users in canada uses the product itself to acquire and retain users.
In this approach, the product serves as the salesperson by providing so much value, the user can’t help but upgrade their package. Canvas and Slack are great examples of product-led growth in action.
On the other hand, a sales-led GTM strategy uses marketing to spark interest in a product, capturing it in the forms of content and demo.
Salespeople then target those leads with the goal of converting them into customers. This is the approach that HubSpot and many other B2B SaaS companies
use . In this blog, we’ll tell you everything you need to know about a sales-led GTM strategy, providing examples and answering frequently asked questions.
6 steps to create a GTM strategy
01. Define your ICP
Our Ideal Customer Profile or ICP is a comprehensive description of a perfect customer.
This is the type of customer who can find huge benefits in your product or service, while also being able to give you enough value in return to make your business profitable.
In most cases, this is the ability to use your product to improve their bottom line, but there can be other benefits, such as:
Cost reduction
Boosting efficiency
Improve staff productivity and well-being
In return, your ICP returns value to you in the form of revenue. It can also provide referrals, customer insights, and testimonials.
To develop your ICP, you need to know:
And, as we explained in our article on B2B lead generation , you also need to:
"Accurate and up-to-date B2B data. Poor quality data will cause your teams to target the wrong people. Quality data ensures your teams create data-driven marketing and sales plans that target the right people, resulting in faster growth for your organization."