A go-to-market (GTM) strategy is an organisation’s plan to engage customers to buy a product or service and gain a competitive advantage. It can include new product launches, rebranding a product or introducing an existing product to a new market. To ensure a successful GTM strategy, Sangram Vajre, CEO of analyst firm GTM Partners, recommends five key steps.
Firstly, organisations should have a clear ROI story. Without one, customers will be less likely to invest. Secondly, net revenue is the most important metric, as it demonstrates a business can still grow, even when it isn’t acquiring new customers.
Thirdly, organisations should experiment with multiple go-to-market motions. There are seven different motions, and combining three or four of them can create a ‘halo effect’. Fourthly, marketing leaders should get on the road and meet their customers in-person. Meeting face-to-face can help build trust and ensure customers are more likely to invest.
Finally, leaders should ensure clarity, focus and alignment within the team. This can be achieved by getting teams together as often as possible, being clear on where the organisation is going and making sure everyone knows their role in the bigger picture.
By following these steps, organisations can create a successful go-to-market strategy that will help them to survive and grow despite economic challenges.
Originally reported by Martech: https://martech.org/5-go-to-market-recommendations-for-marketing-leaders/
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