Create A Go To Market Strategy (GTM Template & Examples)
So you’ve got a product or service that meets a want or need right?
That’s great. It’s the makings of a successful business and brand.
But having a great solution is only one-half of the pie.
Finding a way to craft a message to influence the people who need what you have and then mobilizing that message, is the more challenging task.
Stemming from a clearly defined brand strategy, an effective go-to-market strategy zeroes in on who you’re targeting, where they are, and exactly how you’ll engage.
In this article, you’ll discover a step-by-step guide to help you understand the components of a successful go-to-market strategy and a follow-through template to guide you in creating one for your next product launch.
First, we’ll start with the basics!
So you’ve got a product or service that meets a want or need right?
That’s great. It’s the makings of a successful business and brand.
But having a great solution is only one-half of the pie.
Finding a way to craft a message to influence the people who need what you have and then mobilizing that message, is the more challenging task.
Stemming from a clearly defined brand strategy, an effective go-to-market strategy zeroes in on who you’re targeting, where they are, and exactly how you’ll engage.
In this article, you’ll discover a step-by-step guide to help you understand the components of a successful go-to-market strategy and a follow-through template to guide you in creating one for your next product launch.
First, we’ll start with the basics!
Nail Your Go To Market Strategy (GTM Process Template)
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What Is A Go-to-Market Strategy?
A go-to-market strategy (GTM strategy) is a detailed action plan that is created to position your product for market launch. It involves clearly defining your target (ideal) customers, creating a marketing plan and messaging, and outlining your sales strategy.
Your GTM strategy is the roadmap that details how you want to reach your target market with your new product and achieve a competitive advantage.
It involves positioning your product as a solution to an identified market problem.
When to Create a GTM Strategy
Whether you are targeting individuals or operating a B2B business model, you can create a GTM strategy when you are:
Launching a new product or service in an existing market
Introducing a product or service in a new market
Relaunching your company or brand
Testing a new product’s market for growth
The reason companies create GTM strategies is that it gives them the opportunity to clarify the purpose of their product, the problem it’s meant to solve, and the people that would benefit from it.
This helps the company to leverage appropriate tactics by adopting scalable marketing models that will help them achieve meaningful engagement with customers and close sales.
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Benefits of a GTM Strategy
Markets don’t respect guesswork, your product launch will remain an experiment if you don’t go about it with an informed strategy. Some companies rush to the market based on a “perceived need” that is not subject to validation.
However, the information you gather with your GTM strategy will help prevent the mistakes and oversights that are often common to new product launches, thereby limiting the chances of failure considerably.
An effective GTM strategy will:
Increase the chances for the success of your product launch
Clearly set a direction for all stakeholders and create an established path for market success and growth
Optimize the time required to market your product or service
Improve your ability to manage the challenges that often come up during product launches
Increase your ability to react positively to market changes
Beyond using GTM strategy to accomplish successful product launches, companies can also leverage the strategy to outline steps towards improving the customer experience for products that are already established in the market.
Types of GTM Strategy
A GTM strategy can be product-led or sales-led, however, you can also direct your strategy towards any of the models outlined below:
