There are many strategies for launching a new product, service or company, but one of the most effective for promoting and positioning is the Go to Market perspective. Why?
It turns out that this is a coordinated and precise how to use the rcs database for direct marketing placement strategy that will help you create the roadmap to communicate a value proposition to the people who are really interested in it.
Whether your company is in its early stages, or you are looking to launch a new product within an already established line, this strategy will give you the boost to improve your sales and increase brand awareness .
Now the question that follows is: how to design a successful Go to Market strategy?
Keep reading, as we will explain what you need to take into account to create a strategy that will bring you the results you are looking for.
What is a Go to Market strategy?
The Go to Market (GTM) strategy is an action plan that facilitates the introduction of a product or service into the market. It involves establishing a map with the key steps and aspects that your product must go through to reach your customers.
The goal, in reality, is to define the intention with which your company addresses its potential market and, in this way, improve sales results by offering favorable experiences .
In other words, what you want is to chart a path to convey your value proposition to the right audience.
As you can see, the strategy is mainly used in the launch of new products. However, you can use it whenever you need a precise guide to define how your products should interact with your potential customers .
Thus, the Go to Market strategy can be effective for:
increase the chances of a product being successfully launched;
minimize errors or unnecessary expenses in the execution of launches;
reinforce products that, upon initial launch, did not have the expected success;
plan, in detail, the interaction that the product will have with the customer to ensure a satisfactory experience;
help close sales quickly.
What are the key factors in a Go to Market strategy?
You already know that what we aim for with a Go to Market plan is to maximize the impact of the launch, while creating a path that reduces risks. So, what variables should you consider when launching a product?
We can find them in the answers to 4 fundamental questions. These will become the pillars of your strategy. Pay attention!
1. Who? Your Buyer Persona
First of all, the essential thing in the Go to Market strategy is to focus on the potential client, or better, on what is known as the Buyer Persona .
You see, markets are typically highly competitive environments, so differentiating yourself from your competition can be a challenge, particularly with a new product.
However, the starting point is to know the characteristics of your Buyer Persona inside and out.
This way, you will not only be able to design a product or service that adds value, but you will also have clarity about what to do with the other key factors within the strategy.
If you want to know more about Buyer Personas and have clear guidelines on how to create one for your Marketing plan, download our complete guide on the topic below for free :
2. What? Your product
Now, the second key aspect within the strategy focuses on your product or service. This, like the following pillars, is part of the 4P's of Marketing model .
This is not about knowing what you are going to sell, the question has to be specific and should be aimed at identifying the characteristics of the product that will be relevant to your Buyer Persona.
In this we address issues such as:
The value proposition : what benefits do you offer your customers and how do you differentiate yourself from your competitors ?
Product Features : What features help reduce your buyer persona’s pain points?
The pricing model : How much is your audience willing to pay ?
Competitor Analysis : How does your competition solve the pain point you want to solve? How much do they charge for it?
3. How? The promotion
Once you define the two previous points, what follows is planning how you are going to reach your Buyer Persona.
If your product is point A and your buyer is point B, the ideal is to design an innovative step-by-step process to bring the two points closer together through a memorable customer experience.
Start by thinking: how are you going to develop and communicate your brand? How do you want your company to be recognized by your customers ? What are the values of your product and how can you communicate them?
4. Where? The distribution
Finally, while you are doing promotional work, you must ensure that your buyers can easily access your products.
That is, wherever they go to buy them, there is availability (if this sounds familiar, this is the " Plaza " of the 4P's of Marketing) .
For this, you need to choose the right distribution or sales channels to support the market penetration of the product. In simple terms, channels can be:
Direct channels : virtual stores , own premises and points of sale, own offices, among others.
Indirect channels : strategic allies, intermediaries, affiliates, etc.
In the end, no matter which channel you choose, remember that one of the goals of the Go to Market strategy is to ensure that the product reaches the customer's hands.
How to plan a successful Go to Market strategy?
Now that you know the basics of this business perspective, I imagine you want to know what a Go to Market strategy looks like in practice. Well, that's what we'll work on next.
It's time to put your concepts on paper. Take note!
1. Identify your Buyer Persona
As you know, the first thing you need to do is determine who your first customers will be. It is advisable to target those who are most likely to say “yes” without having to be convinced.
It's not about choosing large audiences, as you run the risk of being too general (and less competitive).
What you really need to do is research your market and identify a relevant niche . Then, create a Buyer Persona that represents your target audiences.
The idea is to establish clear criteria to target your first clients and define:
who are the ones who will buy;
what is the size of the niche;
what is the pricing model;
What are the pain points of your Buyer Persona that are efficiently solved with your product;
why they would buy from you and not your competition.
Speaking directly to a niche will increase your chances of receiving a positive ROI quickly , which is crucial in the early stages of a business where liquidity is needed.
Taking advantage of the fact that we have just mentioned ROI, we now invite you to do the math on our interactive calculator to discover what the return on investment of your Marketing or Sales actions is:
2. Build your value proposition
Once you have a deep understanding of your market and your audience, the time comes when you need to get creative.
With a value proposition you can give meaning to your brand and show how your product can solve the problems of a particular audience.
Building a well-defined value proposition will allow you to establish a differential, encourage recall and maintain coherence in your communications.
The value proposition is built by describing the benefits you offer and who they are designed for and why they need it. You must show that you understand better than anyone the true needs of your ideal client .
3. Determine the communication channels in which you will execute the strategy
Once you know who your potential buyers are and what you can offer them, it's time to decide what your communication channels will be .
Some traditional channels, such as television or commercials , can increase awareness.
However, since you are not allowed to choose who you target, you may end up reaching a lot of people who have no interest in what you have to offer (which is a waste of resources).
On the other hand, with digital channels you can target those potential customers who fit your Buyer Persona and, thus, send your message to those who may really be interested.
Some of these channels are:
social networks ;
website ;
virtual store ;
blog .
Digital Marketing gives you the power to segment to speak only to the audiences you want .
So in your research, you should ask yourself about the channels your Buyer Persona uses and strengthen your digital presence only on the channels that make sense according to their profile.
4. Relate your Buyer Persona's pains to the Buyer Journey
A key aspect to further personalize the message is to relate your Buyer Persona's pain points to their Customer Journey .
It is a representation of the awareness that your audience has regarding your product ; that is, how prepared they are to make a purchase from you .
The 3 basic stages in the Buyer Journey are:
Discovery : A person realizes that he or she has a problem and begins to investigate it.
Consideration : In inquiry, the person begins to explore all the solutions to his or her problem, lists them, and analyzes them.
Decision : The prospect narrows down his or her options and makes a decision.
The Buyer Journey can take the form of a funnel, this is what we know as a sales funnel .
In this sense, the Go to Market strategy must be structured to plan how to move your potential customers through the funnel. This brings shorter sales cycles and faster sales closures.
And speaking of the funnel, we are now sharing with you two free materials from our blog that you can use to manage your Buyer Journey with this tool. Download them from the respective links!
Worksheet to create a Sales Funnel ;
Complete ebook on how to master its different stages to the fullest .
5. Use Content Marketing
One of the most effective ways to fill the funnel and attract the attention of your audience is Content Marketing .
Content is a powerful tool that helps you connect with prospects wherever they are in their Buyer Journey. It is the key to attracting strangers and nurturing them into customers.
How does Content Marketing work? Basically, its power of attraction lies in keyword research and SEO ( search engine optimization). These lay the groundwork for connecting you with the public that is looking for products like yours.
By identifying keywords for your business, you can create and publish related content on your digital channels. But what type of content works for each stage of the funnel?
Top-of-the-funnel content is light and educational, and can take formats such as blog posts, webinars, infographics , etc.
For the middle of the funnel, the content should be more in-depth and applied to learning. E-books, checklists, and practical guides are some formats.
For the bottom of the funnel, content should be focused on your product. Free demos, video tutorials, or success stories work for this stage.
The key with Content Marketing is to tailor your value proposition message to the channels you've chosen and the stage of the funnel your customers are in. This is how you begin to shape the path they must take to reach your product!
And well, as it could not be otherwise since we breathe Content Marketing at Rock Content, here is the link to our complete guide on the strategy , which you can also download for free:
6. Choose a sales strategy
With the foundation of the strategy built and the ground sown by Content Marketing, what follows is planning how you will close the deals . You can choose one of the following actions or a combination of them, depending on what your business model requires.
Self-service
Your customers make a purchase on their own. This is common when your product is priced low and is more commonly found in B2C models .
Internal sales or inside sales
In internal sales, your leads are handled by a sales representative from your company. This is used when you have complex products with medium prices. Here, the sales cycle ranges from a few weeks to a few months.
In addition, the Inside Sales model often goes hand in hand with an automation tool such as a CRM , so that salespeople can approach prospects based on data generated by their interactions with the brand in the digital environment.
Field Sales
This happens when you have an entire sales organization that closes large enterprise deals. They deal with complex products with high price points. Therefore, the sales cycle is long.
Indirect sales
This is when an outside agency or partner sells the product for you. It's an affiliate model that can be difficult to set up, so it works best with products that match the partner's interest.
7. Analyze your results
How can you tell if you have been successful with your Go to Market strategy? By measuring! You can only know that you have achieved the expected results by measuring the effectiveness of your actions.
The advantage of working in a digital environment is that you can measure everything thanks to metrics and key performance indicators or KPIs .
The metrics you choose must be related to the objective of your Go to Market strategy.
Therefore, some metrics and KPIs that you can measure are:
Conversion rate at each stage of the sales funnel
The conversion rate allows you to perform a comparative analysis of how many leads enter your sales funnel and how many are leaving at each stage, so you can optimize your efforts at each stage.
Customer acquisition cost
CAC shows you how much money you are investing in acquiring a new customer. It may be high at first, but over time you will be able to optimize the process.
Conclusion
A Go to Market strategy is essential to achieve greater results with the launch of a new product.
Ultimately, a well-executed strategy will reinforce the value of your brand in the minds of your consumers and give you a more favorable position compared to the competition.
Go to Market (g2m): Learn the concept and how to execute it to promote product launches
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