Go-To-Market (GTM) Strategy
A GTM strategy can often be as important as the product itself. If you have a great idea for a product, but a weak go-to-market strategy, you’re never going to be able to fully realise that product’s potential. Some businesses will even give up on a product, thinking that it wasn’t the right solution, or that there was no market fit. But in fact, the product itself might have been great - the business just failed to bring it to market properly, because they didn’t have an effective go-to-market strategy.
What is a Go-to-Market Strategy?
A go-to-market (GTM) strategy is a business’s plan for bringing a product to market. Of course, there are some best practices and general guidance to follow, and it’s always wise to learn from the successes and failures of other go-to-market plans. However, it’s important to remember that every product and target audience are different. A strategy that worked well for others (or even one that worked well for you in the past) is not necessarily going to work well for your new product. A good go-to-market strategy needs to be bespoke - it should be thoroughly thought out, well-researched and tailored specifically to the product and market.
Components of a go-to-market strategy:
At a minimum, a go-to-market strategy generally includes:
- Business plan: outline objectives and your target audience
- Marketing plan: use both paid and owned channels to target your audience
- Sales strategy: establish your conversion strategy and funnels
Whether you’re an established business, a startup or anything in-between, Optiminder can help you analyse and optimise your conversion funnels. Get in touch to find out more.
Establishing your target audience at the start of this process is crucial. Building user personas helps to identify key segments of your target audience. With a more granular understanding of your audience, you can better target your marketing efforts.
It's important to remember that none of these are set in stone. Your target audience, channel mix, sales pipeline, and all the other aspects of your go-to-market strategy should be open to change. Businesses need to be data-led in their approach; knowing when to pivot can sometimes be more important than the initial product idea.
Go-To-Market Strategy Services
If you’d like professional help developing your Go-to-Market Strategy, or you’d like to bring in an experienced agency to review your existing plan, reach out today to see how Optiminder can help you.
We can also help you draw up an optimisation roadmap, with a data-driven pipeline of A/B test ideas to deploy, to help you iterate on the way you present your new product to your customer base once it’s live. If you don’t have an in-house Optimisation team, or if they’d like some support executing this optimisation roadmap, we can also help you build and deploy the tests using the A/B testing platform of your choice.
Get in touch today to find out how Optiminder can help you successfully bring your product to market.
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