A go-to-market strategy (GTM strategy) is a broad, strategic framework that defines how a company will introduce a new product or service to the market. It addresses questions like why the product is needed, what value it provides, and which market or customer segments will be targeted.
While, a GTM strategy has a long-term focus, a GTM plan has more of a short-term, day-to-day execution perspective. It lays out how the strategy will be implemented, including marketing campaigns, sales tactics, distribution channels, pricing, partnerships, and other operational details.
| GTM strategy | GTM plan | |
|---|---|---|
| Scope | Broad, high-level framework | Detailed, specific roadmap |
| Focus | Why, what and which | How |
| Time Horizon | Long-term, strategic | Short-term, operational |
| Components | Market segmentation, value proposition, competitive strategy | Action items, timelines, roles, sales/marketing activities |
When an organization is thinking about launching a new product or service or launching an existing service to a new industry or market, building a GTM strategy and plan is a useful way to ensure that you build a framework for success.
What is in a GTM document?
A go-to-market document often includes your GTM strategy and GTM plans and answers many key questions, including:
Product strategy
- Who is the ideal customer? This will include your buyer personas, market segments, industries, company size, geography, demographic information, behaviours, pain points, and motivations.
- What unique value does the product offer? This is the promise of what the product will deliver and how it solves the customer’s problems better than competitive solutions.
- How will the product be priced? Pricing should reflect the value of the product it delivers to the customer, market demand, market availability of similar solutions, competitor pricing and your cost structure.
Channel strategy
- How will you sell and deliver the product to your customers? This answers whether you will rely on inbound or outbound strategies and opt for direct sales (in-store retail, online), distributors and / or partnerships.
Marketing strategy
- How will you communicate your product’s features and benefits? This is clear, consistent messaging that you use to describe what the product does for whom and why. If your product targets different industries, personas or geographies, you will likely need to build different messaging frameworks for each persona.
- How will you differentiate yourself from competing solutions? Answer the question about what makes your product unique and better than other solutions.
- How will you promote the product? This includes marketing tactics like digital advertising, content marketing, social media, and public relations to build awareness and generate leads. Also, include who will be responsible for each and when they will execute their activities.
Customer experience strategy
- How will you onboard, support, and retain customers? Consider post-sale support, customer success teams, and educational resources to ensure customers get value and stick with your product.
Evaluation strategy
- How will success be measured? Define metrics like units sold in industry/geography/company size, average revenue per customer, conversion rate and customer lifetime value to help track progress. You will likely want different metrics for different times after the launch (i.e. one month after, three months after, six months after, one year after, etc.)
Use AI in your go-to-market planning
Many AI tools can assist with market research, content creation, predictive analytics, project management, and competitive intelligence.
Here are some tools that offer to help with GTM planning.
Market research & targeting: AI tools like Growth Channel AI (for microtargeting) and Beam.AI (for GTM strategy generation) help in customer segmentation and advertising strategies. Afforai can quickly sort and summarize large volumes of documents.
Content creation & optimization: Tools like ChatGPT, HyperWrite, and Copysmith assist in content creation, while Dashword and Clearscope optimize SEO and analyze competitor content.
Predictive analytics: Pecan AI offers templates for predicting customer churn and optimizing campaigns, while Dragonfly AI forecasts the visual impact of marketing materials.
Project management: AI tools like Asana and Click Up increase efficiency and collaboration in project management.
Competitive intelligence: Tools like SpyFu (for small businesses) and SimilarWeb (for larger companies) provide marketing insights using AI.
Benefits of a go-to-market strategy and plan
Taking the time to build your go-to-market strategy and execution plan before market launch has many benefits.
The most significant benefit is that you will save time. When you do your market research and understand who your customers are, their needs and wants, and the options they may have (competitive solutions), you can include these insights into your plans so you can stay focused on specific strategies for a successful launch.
A GTM plan also cuts costs or lowers the risk of a failed launch. Knowing exactly who your customers are and what excites them will streamline how you reach those people in the market. You also save costs by not selecting tactics that will not resonate with your target audience.
Planning also sets you up to offer a better customer experience. Your sales team and channel partners will have the messaging and materials to pitch and promote the solution.
Barriers to market entry
Every market has barriers, and your GTM plan is an opportunity to identify and build a plan to address them (or steer clear if entry is prohibitive). Here are some barriers to consider:
- Resource ownership: Do you (or will you) have full control over your product’s components and features, or are you dependent on external partners for critical aspects? Relying on third parties can create limitations.
- Patents and copyrights: If applicable, ensure patents or trademarks protect your product and confirm that you’re not infringing on someone else’s intellectual property.
- Government restrictions: Some industries require licenses, permits, or government approval.
- Startup costs: High initial investments, such as in pharmaceuticals or manufacturing, can limit market entry.
- Technology and market trends: Ensure your product aligns with current trends, such as making mobile apps compatible with future technology (e.g., 5G readiness).
- Market competition: Identify local competitors and evaluate their strengths. Large, well-established players can pose significant competition and make it difficult to gain market share.
Build a minimum viable product
Building a Minimum Viable Product (MVP) with just the essential features allows you to gather early user feedback, confirm market demand, and make necessary adjustments before a full-scale launch.
When considering which features to include, start by identifying the main issue your product solves for the target audience. Then, choose the minimal features that directly address the core problem and provide value to early users.
Consider implementing a beta program to confirm the viability of a product and and helps identifies bugs before a full product launch.
Measuring success
To measure the success of an MVP and decide whether to proceed with a full launch, define KPIs and user feedback that will be used to measure the success of your MPV program.
Quantitative and qualitative metrics used to measure the success of an MVP include product adoption, customer satisfaction and perception of core features, market demand, and customer intention to adopt the full product. These will help you decide whether to move forward with a full launch.
Competitive reviews
Building competitor profiles, is an essential part of a go-to-market strategy. This involves understanding who your competitors are, their strengths, weaknesses, market positioning, and growth trends.
Begin by gathering data from sources like IDC Research, D&B Hoovers, Crunchbase, and Google. Use these to assess financial revenue, sales volumes, and marketing strategies.
Observing competitors at trade shows, monitoring social media, reading print and online documents (brochures, websites, articles, etc.) and reviewing company and product reviews are effective methods to gather intelligence and understand how they position themselves.
Interviews with industry partners and end-users can also provide critical insights in understanding competitors better.
Don’t forget to consider direct and indirect competitors (e.g., substitute products and “do nothing”) and evaluate their product, channel and marketing strategies.
Creating messaging
Messaging refers to strategic communication to a specific audience that aims to convey a brand’s value, product benefits, or solutions effectively.
Good messaging is about creating clear, compelling statements that resonate with the target audience, address their needs, solve their problems, and highlight the benefits they will receive.
Start with segmenting
Start by dividing your audience into customer personas based on factors like industry, geography, organizational role, behaviours, demographics, and other attributes (e.g., values, attitudes, and interests).
The segmentation will depend on the product you are launching and the differences between your audience groups.
Focus on benefits
Once segmented, create targeted messages for each customer persona that focus on your product’s benefits rather than just features. Benefits could address customer needs like feeling better, saving time, or finding confidence.
Test your messaging to uncover specific customer problems and avoid assumptions. Collaborate with teams across departments to refine your messaging and ensure it resonates.
Create different messaging for sales and marketing
Once you have a first draft of your messaging, refine it further to create messaging that will be used for your sales and marketing teams.
As the table below shows, the depth and breadth of your messaging will vary depending on the person communicating and the person receiving the message.
| Marketing Messaging | Sales Messaging |
| 1 to many | 1 to 1 |
| Focus on end users/their superiors | Focus on decision-makers |
| Surface-level pain points | Root-cause, business-level problems |
| Highlight immediate benefits | Highlight the unique value for a specific org |
| Product highlights | In-depth product overviews |
Look beyond words and inside walls
Support your message with good writing and strong visuals, making it concise and engaging. Analyze competitors’ messaging to find ways to differentiate your value proposition.
Pricing models for your go-to-market strategy
There are several pricing models and strategies to consider for your GTM plan:
Cost + Profit: This model calculates the total cost of production (both fixed and variable costs) and adds a margin for profit. For example, if the total cost to manufacture a product is $140, adding a 20% margin results in a selling price of $168.
Value-based pricing: This is based on the perceived value of the product. For example, the same product may be priced at $200 due to its perceived higher value, even though the production cost is the same. It reflects customer satisfaction and willingness to pay for the value.
Premium pricing: Set a higher price at launch to reflect exclusivity and premium quality, supported by high-end packaging and marketing.
Price skimming: To maximize profits from early adopters, start with a high price, then lower it as competitors enter the market.
Bundle pricing: Offer multiple products at a discounted price to provide more value to the customer.
Market penetration pricing: Start with a low price to attract attention and increase awareness, raising the price later as the brand gains recognition.
Economy pricing: Focus on keeping production costs low to offer lower-priced products. This strategy works best for companies with large sales volumes.
Freemium model: Offer a free version of the product with the option to purchase paid enhancements.
Tiered pricing: Provide different pricing levels based on features or the number of users.
Product launch and promotions
Consider using storytelling to build excitement for your product launch. Tactics you use will vary depending on the launch stage.
- Pre-launch: Build anticipation by generating early interest through product testing, reviews, and testimonials. Tools like Google Alerts or media monitoring services can track conversations and generate stories before the product officially launches.
- Launch: Maintain momentum by sharing the product announcement through blog posts, news releases, and interactive media. Pitch targeted stories to the press, suppliers, partners, and employees, tying the product to trending topics.
- Post-launch: Use post-launch stories to increase credibility and drive sales. Examples include product reviews, user stories, and customer applications, which can be showcased on the company’s website, media center, and social media platforms.
Promotions are another way to generate excitement during product launches. Here are three effective ways to package offers or promotions at a product launch to capture customer interest:
1. Product sampling: Offer free samples in-store, through delivery, or via a 30-day trial online. Questions to ask if this is right for you include: Can you offer a small sample for free? Is it better to deliver or provide an in-store experience?
2. Coupon offers: Provide a percentage discount, focusing on how the product benefits the customer rather than just the discount itself. Questions to ask for when considering this promotion: What’s the value of the coupon? Does a larger discount solve bigger customer problems? What is the purpose of the coupon (e.g., product purchase, review)?
3. Bundled promotional offers: Combine your product with other trusted products for a package deal, reducing the customer’s risk. When considering this promotion, think about which products can be paired with your offer, whether the value of the products affects the discount, and how you will track the bundle promotion.
For all offers, be clear about location, prerequisites (e.g., minimum spend), and expiration dates.
Prepare front-line staff
A crucial part of product strategy is preparing your front-line team, including marketing, sales, customer service, and office staff, to explain and promote new products, handle praise or complaints, and provide valuable feedback. A launch-ready front line will understand:
- Target customer needs and values
- Product strategy and vision
- Customer personas, including buyers and influencers
- Positioning of the product against competitors
- Who can answer any product inquiries
- How and to whom should customer feedback be reported.
Implement online training platforms to offer access to product training that supports onboarding and continuous learning. Ensure that tools like product specs, brochures, demo videos, case studies, and FAQs, are easily accessible through repositories or intranets.
Engaging your front line early in the launch process, will strengthen customer experiences and support your product launch strategy.
Channel strategy
A channel strategy involves determining the best ways to sell and promote products. To develop one that is right for your GTM strategy, consider these key factors:
- Current and potential channels: Analyze where your target customers make purchases and assess the performance of each channel.
- Product type: Some products are better experienced in person, like mattresses, while others are better suited for online sales.
- Partnership opportunities: Consider whether to use partners to sell products, such as bundling with other brands or leveraging affiliates.
- Level of interaction: Decide if customer interaction may be required and if it needs to be handled by a representative, chatbot, or other tools.
- Invest in training so channel partners understand company brand, vision, mission, and customer values beyond the product. Share research, buyer personas, and competitive intelligence to equip them for customer engagement.
- Build branded sales and marketing materials like product specs, brochures, demo videos, case studies, and FAQs, and ensure they are easily accessible through repositories or intranets. Provide forums for discussion and quick access to information.
- Offer tailored incentives like discounts, rebates, or rewards at different stages of GTM stage. Regularly assess incentives to evaluate whether they are meeting their intended objectives.
- Involve partners on decisions on how to promote and encourage sales.
- Celebrate success by rewarding partners with perks such as branded products, digital debit cards, or mentions on your website, newsletters, and social media.
- Evaluate partnerships every six months or annually to determine what worked, and if needed, develop an exit strategy. Ensure legal teams craft the exit strategy ahead of time and consider preserving relationships with other business units, if applicable.
Go-to-market strategy template
With all of the above in mind, here is a template to help you build your GTM strategy and plan.
Executive summary
- Outline the goals and objectives of the GTM strategy
- Briefly describe the product or service being launched
- Define target audience, pain points, and buying behaviours
- Clearly articulate the value proposition of the product or service for each persona
- Define the benefits and features that differentiate it from competitors for each persona
- Analyze competitive landscape, including key competitors and their strengths/weaknesses
- Identify market barriers, trends and growth opportunities
- Articulate marketing channels to promote the product
- Determine pricing strategy and any promotions, discounts and offers
- Build list of marketing assets that will be required for promotion and to support front-line staff
Sales and channel strategy
- Define the sales process and channels to be used (e.g., direct sales, partner network)
- Build list of product resources and training for sales and channel partners
- Identify key performance indicators (KPIs) for sales teams
Customer acquisition plan
- Outline the strategies and tactics to acquire new customers
- Describe how customer relationships will be managed and nurtured over time
Performance metrics and monitoring
- Define key metrics to measure the success of the GTM strategy
- Describe how progress will be monitored and adjusted
Budget and resources
- Outline the budget, staff and timelines for launch.
- Build the list of training that will be required for internal resources and external customers
Let’s build a go-to-market strategy!
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