EFFECTIVE GO-To Market Strategy For Small Town

What is a go-to-market strategy?

EFFECTIVE GO-To Market Strategy For Small Town

31 october 2020

BY INCUBATION MASTERS

What is a go-to-market strategy?

A go-to-market strategy (GTM) is the plan for targeting the right pain point with the right sales and marketing process, so you can grow your business at the optimum pace. You can create a GTM strategy for a new business but also for a new feature, brand or location.

Why have a go-to-market strategy?

For large companies with existing products their GTM strategies might revolve around correct communication and branding for new markets.

For those of us who are building new businesses, an incorrect GTM strategy can cost years in going the wrong direction with development and marketing.

While I had heard of the concept before it was listening to Kustomer’s founder in this podcast that brought it firmly to my attention.

When a founder who has been building companies over decades says that he’d start with a GTM strategy before anything else, it’s time to get reading.

In many ways the ‘why’ of a GTM is obvious.

If you’re already confident you can build a product you can focus on picking a big market and nailing the pain point, the brand, messaging, content, ads, emails and sales model needed to reach that market.

You can do this if you’re experienced.

Most first time business founders are not.

Most of us build products and figure out the marketing afterwards or do some half baked version of both together and the more I learn the crazier that seems.

What are the major components of a go-to-market strategy?

Some answer “what is your go-to-market?” by talking only about their marketing but go-to-market is a strategy that extends across the organisation.

To get a feel for the major parts of a GTM strategy, I’ve summarised the GTM plan of a serial entrepreneur, Stefan Groschupf, taken from this great blog post.

I’ve slightly shifted around the order as point 1 should in theory be after point 2 but it makes first timer logical sense this way.

Craft a value matrix and messaging around the pain point

This is a good way to understand what the pain point is and how to set up messaging to address the pain point.


Event GALLERY

EFFECTIVE GO-To Market Strategy For Small Town

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