Go-to-Market Strategy (GTM)
Simply put, a GTM strategy gives a perspective and direction to mobilise resources and take actions to generate new means of sustainable profits in the fastest, cheapest, most effective yet most elaborate and risk averse manner possible. It is not only a well defined road to market, but also a blueprint to keep growing and evolving a business over its lifetime.
A GTM strategy is like nerve cells multiplying to form a complex organism. It begins by guiding each step, and as it expands, it integrates all elements, building a cohesive and thriving business.
A real GTM strategy is extremely personal and highly detailed (to the last touchpoint) to every business and there is perhaps no right way to do it. Still, GTM starts with looking at any business opportunity through the undermentioned 6 lenses while putting the customer and the business at its core.
1. Where do we fit in the market?
Target Market Identification & Positioning
Start by understanding the overall landscape. Look at what’s available and see where you can place yourself. This means researching what others are doing and figuring out how you can fit in by offering something unique or different.
Typical Activities: Market Sizing, SWOT Analysis, Competitive Assessment, Market Segmentation etc.
KPI's To Track Success: Market Share Growth Rate, Market Penetration Rate, Market Entry Cost etc.
2. Who are we selling to?
Customer Segmentation and Profiling
Next is to get to know your audience. This involves learning about the people you want to reach—what they enjoy, what they need, and what matters to them. This helps you tailor your approach to match their interests and preferences.
Typical Activities: Customer Research, Surveys, Interviews, Focus Group Activities, Journey Mapping, Persona Development etc.
KPI's To Track Success: Customer Acquisition Cost (CAC), Lead Conversion Rate, Engagement Rates, Cross Sell / Up Sell Rate, Churn Rate etc.
3. What are we known for?
Developing Competitive Advantage and Unique Selling Proposition (USP)
Determine what makes you stand out. Think about your unique qualities or strengths that set you apart from others. This could be something you do particularly well or a special feature you offer that others don’t.
Typical Activities: Competitive Benchmarking, Framing USP, Developing Brand Identity through messaging, design, content, outreach and customer feedbacks etc.
KPIs to track: Media Mentions, Influencer Endorsements, Brand Awareness Surveys etc.
4. How do we unlock value?
Revenue Optimisation
Consider how to make the best use of your resources. This means finding ways to maximise benefits and efficiency. Think about how you can get the most value and also offer your customer the most value from what you have, whether that’s time, skills, or materials.
Typical Activities: Cost Benefit Analysis, Pricing Models, Revenue Channel Analysis, Sales Enablement, Forecasting etc.
KPIs to Track: Revenue Growth Rate, Gross Margins, Customer Lifetime Value (CLV), Avg. Order Value (AOV), Revenue Distribution etc.
5. Where do we sell?
Channel Strategy
Decide the most effective places or methods to share your message or offer. This involves choosing the right channels or platforms where you’ll reach your target audience best. It could be through social media, events, or other means.
Typical Activities: Distribution Strategy, Partnerships & Agreement, Channel Performance Analysis, Channel Enablement, Brand Visibility Campaigns etc.
KPI's to Track: Channel Performance & Profitability, Conversion Rate per Channel, Geographic Reach, Stock Out Rate, Order Fulfilment Time, Channel Specific NPS etc.
6. How to keep them coming?
Support Retention & Growth
To ensure people stay engaged, focus on creating a positive and memorable experience. Keep them interested by maintaining high quality, offering new and exciting things, and regularly interacting with them. This helps build a lasting connection and encourages them to return.
Typical Activities: Loyalty Programs, Retargeting and Re-marketing Campaigns, Customer Feedback Loops, Personalisation etc.
KPI's to track: Renewal Rate Churn Rate, Net Promoter Score (NPS), Repeat Purchase rate, Customer Satisfaction Score (CSAT), Customer Effort Score (CES), Loyalty Redemption Rate, Avg. Revenue Per User (ARPU) etc.
A successful GTM strategy often requires a complex network of employees, technical resources, and operational processes. However, at its heart, maintaining a simple and focused approach is crucial for building a lean, profitable, and sustainable business. By concentrating on the essential elements—market fit, customer insights, unique value propositions, value optimisation, channel strategies, and retention efforts—the foundation of a successful business is laid for businesses of all shapes and sizes.
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