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5 Things Every Go-To-Market Strategy Should Include

Each startup is unique, and as such, each startup will have a different go-to-market strategy. But, whatever approach you take as an entrepreneur, youu2019ll need to ensure that your GTM strategy is a sound one, containing a series of essential components. <br>Many new businesses find it incredibly helpful to seek support and guidance from go to market consulting services; their expertise and experience often proving invaluable in helping startups go successfully to market.<br>

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5 Things Every Go-To-Market Strategy Should Include

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  1. 5 Things Every Go-To-Market Strategy Should Include

  2. Each startup is unique, and as such, each startup will have a different go-to-market strategy. But, whatever approach you take as an entrepreneur, you’ll need to ensure that your GTM strategy is a sound one, containing a series of essential components. Many new businesses find it incredibly helpful to seek support and guidance from go to market consulting services; their expertise and experience often proving invaluable in helping startups go successfully to market.

  3. Here are 5 crucial components of a go-to-market strategy: 1. Market definition Who your product or service will be targeted at should be the starting point for any GTM strategy. You must also identify your competitors, and find out how your customers are solving the problem(s) they have, currently.

  4. 2. Customer profile Customer profile is a complete overview of who your ideal customer is, and should reflect those people who would be most likely to get something from your product or service, and buy it. Including such things as their demographics and psychographic details. If you’re targeting a B2B audience, firmographics should also be included.

  5. You should also have a clear understanding of what your ideal customers are motivated by, and how they make their decisions based around purchasing. Once you’ve established a clearer picture of who your ideal audience is, you can begin developing tactics to message them that will resonate and prove powerful. Struggling with some of the jargon used so far? Working with go-to-market consultants can help you decipher words and terms, and make ease of the entire strategy-making process.

  6. 3. Product messaging In order for your product messaging to be effective, the value of what you’re selling must be communicated in a way that is compelling for your target audience. A GTM consulting firm can help you use the elevator pitch to uncover your UVP, or unique value proposition, and incorporate these materials and ideas into your GTM strategy. All of this helps you define your products or services, define what makes them unique, and identify how they’re able to solve the challenges your target customers are experiencing.

  7. Again, if you’re clueless about the elevator pitch, for example, a GTM consultant can break it down into manageable chunks that are easy to understand and deal with. 4. Pricing strategy It’s not unusual for startups to get their pricing strategies completely wrong at the beginning, in fact, it’s rarer for a new business to get it right. Coming up with a pricing strategy that works for everyone is tough, especially when you haven’t yet built up a customer base, and you should expect to adapt the strategy multiple times throughout your startups lifespan.

  8. What you should aim for with a pricing strategy, is to charge a small percentage of the problem your customers are experiencing, but the problem lies in not knowing a great deal about what that problem costs! Take time to formulate a pricing strategy, and carry out plenty of research to help you come up with figures that can be backed up by evidence. And remember that while you can expect your initial strategy to be wrong, you should always try to get it as right as you possibly can, and a startup consultant specializing in GTM strategies could help you achieve that.

  9. 5. Distribution With your business in its early stages, you and the team you’re working with, are the very best people to get out there and sell it. However, it’s important not to be too distracted by searching for distribution agreements with big companies while your startup is in its infancy. More importantly, work on defining your target audience, designing some creative but appropriate messaging with the expert guidance of a go to market strategy consulting service, and get out there and sell, sell, sell!

  10. You can’t be expected to know everything as an entrepreneur, but with so many services available to help guide startups toward success (such as GTM consultants), there’s little excuse for not at least giving it your best shot. So, use the points above to formulate a killer GTM strategy, and start giving your ideal customers what you know they need and are prepared to pay well for!

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