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Sunday, November 20, 2011

Go To Market Strategy

Sunday, November 20, 2011



I'm often asked about the art and science of a go-to-market strategy.  Although there's really not perfect plan when it comes to developing effective marketing programs for your products or services, I do believe that there are a number of key components to the best go-to-marketing programs.

If you're not familiar with a go-to-market strategy, it's really a road map for introducing your offering to the marketplace.  It's based on creating a unique position in the market which includes pricing, messaging, and promotional campaigns.  Essentials of a strong go-to-market plan include:

1.  Product positing.  Determine what your unique selling proposition is.  What is your differentiation and who are you trying to sell to?  Once you know just how different your products is and who your target is you can make decisions on price, packaging, and so on.

2.  Know your customer.  Do you have a clear picture of who will pay for your product or service?  Understanding the purchase decision process of your buyer - how they use the product, the need your product solves, what they are willing to pay for - makes all the difference.

3.  Segment by event.
 Are there specific buying occasions that are important to your buyer?  In the past, most go to market plans were based on product launches or arbitrary media dates.  Today, in order to be effective, you need to consider significant buying times for your customers.  What events are times of year drive behavior?  Knowing and capitalizing on these events is essential fr your go-to-market plan.

4.  Determine your sales strategy.
 Before rolling our your marketing plans you need to consider the sales strategy.  Are you going to drive prospects to a face-to-face meeting, leverage your inside sales team, or move them into an online purchase funnel?  Consider all of the buying steps before going to market.

5.  Pilot your program.
 The most effective programs are those which are tested on a small scale.  Before you put all of your marketing eggs into a single basket, consider rolling out your plans on a small test group.  This allows you to better control and test all aspects of your marketing plan while minimizing risk.

6.  Refine your go-to-market strategy.
 Once you begin to roll out your plan, be mindful of what's working and what needs improvement.  The goal of marketing isn't perfect but continuous improvement.  Through measurement and refinement, you can get the most from your go-to-market plan.

7.  Test. Test. Test.
 Don't settle for good.  Focus on great.  After you do the initial launch of your plan, document what works, what doesn't, and what you'll do differently next time.  Documentation is the key to avoiding mistakes in the future and building on your successes.

Go-to-market strategies always vary in size, scope, and timing.  But effective strategies have all considered the key elements of: positioning, knowing your customers, segmenting by event, sales strategy, pilot programs, refining and testing your plan.  If you want to success with your next marketing roll out, make sure you've considered all of these elements as part of your go-to-market plan.



17 comments :

SEO marketing said...

Hi Michael,
You picked up really good point.
I will consider these elements as part of my Go To market plan.
Good Work, keep it up.
Thanks,

Tư vấn SEO said...

Thanks you !

Nacho | Plan de Marketing said...

They are all basic questions you have to answer when elaborating a marketing plan. I can't imagine any mid-size business not covering these steps when launching a product :)

Market Research said...

Yes, You are absolutely choose the right plans.Before you step into the business world you need some serious Market Research. But only the research is not going to help you alone it has to be implemented properly with positive frame of mind and a lot of hard work too.

bathroom design said...

the go-to market strategy is really effective and and pointing out the idea of knowing your customer helps me improve my sales,audience and demands, this is because I was able to feed them with the specific thing they are looking for

Buzar said...

Thanks you...sharing this good tips.

Theresa said...

Hello,

Please note that there is no such thing as a sales strategy. What you are suggesting is a sales process.

Thank you

Marketingo Paslaugos said...

I think marketing strategy depends not only on these things. Marketing is more creation than science and calculations. Business always should create something that adds more value to the customer and business owner. This is how I think marketing should work.

zhou said...

Yes, we need to make a plan before we market. Marketing is not that easy. It is not like making a scrambled egg. We need to do very heavy researches about marketing. We need to know what our clients need. Every business undergo basics. There is no such thing as a successful business that skipped this process. Well done!

Lauren at Volusion said...

Hi Michael! Great insights here. I especially agree with your last point. Business owners should always be in testing mode, gatheing new info to refine and reinvigorate their marketing strategy. Thanks for the great read!

Lauren

@Volusion
www.twitter.com

Jerky direct business said...

Awesome stuff about marketing strategy
You actually placed right stuff on the table.
I hope more users will get the information that i receive from you.
I can’t wait to read much more, maintain me coming!

Samantha said...

Awesome marketing strategy! I think that you included a lot of great points about starting up a business and creating an effective go-to-marketing strategy. I enjoyed how all of the information you provided can be changed and adjusted to fit the specific needs of any given business. It's a good format that I would definitely recommend to others. Thanks for the insight!

Dollar Store Merchandise said...

These are absolutely valuable information on marketing. Thanks so much!

Tom's Atlanta Graphic Design said...

Agreed, understanding the purchase decision process of the buyer is essential. But I've found that you have to dig deeper than that. It's not about understanding the process from our perspective, its understanding from their perspective. What combination of competing factors, pressures and perceptions are driving them? And how can we relieve their anxiety by solving one problem without creating another one? Plus I'v found that every purchase decision -- even business buys -- have an emotional component. The list above is very logical; but often for buyers, emotional factors "drive" logic.

Mark said...

How does this fit in with online marketing?

Muhammad Zahid Iqbal said...

I think marketing strategy depends not only on these things. Marketing is more creation than science and calculations. Business always should create something that adds more value to the customer and business owner. This is how I think marketing should work.
Good Gifts

go to market plan said...

These tips are more effective to stand new business in market.

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