How does your business connect with its customers? How do you deliver your unique value to your target customers? How do you go from the initial connection with a potential customer to the fulfillment of your brand promise? Your go-to-market strategy brings together all of the key elements that drive your business: sales, marketing, distribution, pricing, brand development, competitive analysis, and consumer insights. It provides a strategic action plan that clarifies how to reach your target customers and better compete in your marketplace. Go to market strategies can be applied to new product launches as well as existing products and services.
Developing a Winning Go To Market Strategy
Go to market - Wikipedia
Investing money to get new customers before product-market fit is like pouring water in a massive leaky bucket. The path to growth is easier and faster for late-stage startups. The marketing strategy you use after product-market fit is often different than before you hit product-market fit. A go-to-market strategy is the plan a startup takes to get new customers for a new product. In other words, all the marketing that takes place before reaching product-market fit. Once you reach product-market fit, customer acquisition becomes a lot easier.
The term Go-to-Market or Go-to-Market Strategy is used frequently by a diverse group of people with a meaning that spans a wide range. What is even more confusing it that marketing strategy and go-to-market strategy are used interchangeable when they are actually very different concepts. Marketing strategy is usually focused on who to sell to and what to sell. The boundaries of marketing strategy run across functional lines inside an organization but marketing primarily interacts with two other functions in a company. First, marketing interacts with development via product marketing to convey market requirements and to provide content for communications and sales tools for selling.
About 20 mins. Your business plan represents your long-term goals and your general strategy for meeting those goals. To give everyone a single point of reference as questions arise, post customer personas on a wall. We recommend including key stakeholders, co-founders, your executive team, and advisors. If your team is small enough, get the whole company together.