What is Go To Market Strategy – GTM?

Why a Successful Go To Market Strategy Is Essential for Product Launch Success

Go to market strategy – GTM – is a term that causes much confusion.

Simply, a GTM is a specialized business plan to define who you believe will buy from you, what you will say to create awareness, and how you will share your message about your product or service to your target market. Your GTM should take into account matters such as customer experience, especially, the customer Acquisition, Conversion and Expansion – ACE- process.

A successful GTM strategy requires a clear picture of an ideal customer, and why they will choose you. The value of a GTM strategy is that it coordinates your business units on a single plan. It helps you be efficient, as everyone stays aligned with one vision. It helps you focus on how you measure and communicate progress. That keeps everyone informed so you can celebrate successes and spot problems early.

When do you need a go-to-market strategy?

GTM is a launch related tool. B2B and SaaS companies often develop a go to market strategy and plan when they:

  • enter a new market segment with a new or existing product
  • launch a new product
  • measure the strength of market need and reception for a new offering

Do you need a go-to-market strategy?

Your company does not live in a vacuum without competitors.

A go to market exercise informs your key business leaders against whom they will compete. That includes your sales, marketing, product and strategy teams. It may also include finance and operations teams and leaders.

A successful GTM strategy will result in a GTM plan. These exercises make leaders aware of the levels of work and spend needed for success. There is a peril when a a company uses unproven assumptions about a market. A thorough GTM exercise helps leader and team to “know what they know.”

The GTM strategy helps your teams uncover hidden risks and requirements for success. The GTM strategy leads to a GTM plan to identify actions, tactics and resources needed to succeed. It may include PR, advertizing, marketing tools and competitive win plans. It also helps inform leaders if they will need new apps, people or partners.

Match Your Go To Market Strategy With A Customer Acquisition, Conversion And Expansion Process That Fits How They Purchase For Success

What types of go-to-market strategies exist?

In practice, there several types of GTM strategies specific to the business situation. 3 primary types of GTM strategies are:

Product led growth PLG strategy for Customer Acquisition, Conversion and Expansion ACE cycle

Many software as a service – SaaS – and tech companies use a product-led GTM strategy. The Product Led strategy requires the product or service to be simple and compelling. Without that, the customer acquisition, conversion, and expansion cycle will not occur

A product-led growth (PLG) GTM strategy means products must “sell themselves” with minimal human support. Examples of product led growth strategies are Apple iPhone for mobile phone, Netflix for online video, and Tesla for electric cars. Elegant and well-conceived design is crucial. The user experience UX must be fast, obvious, and with very low friction to change. The customer Time to value is rapid. Advertising, PR, and digital campaigns are often the go-to tools for this strategy. They inform prospective buyers through influencers, word of mouth, print and social ads. Website design becomes a key tool to find, learn and help activate product led buyers.

Sales led growth strategy

Complex product or service solutions often rely on a so-called sales-led strategy. Sales-led growth strategies for GTM require the acquisition of prospective customers through a salesperson, account executive AE or account manager AM or sales team channel.

In sales led growth strategies, the sales team, marketing, inbound, and outbound lead generation teams must coordinate their actions and messages. That ensures a unified customer experience that is focused on creating durable customer success. Coordination B2B complexities of

Customer led growth growth strategy

Data led and driven growth strategies

Data-led and data-driven growth strategies work best when teams have the digital and analytic insights to make fact-based growth decisions. McKinsey cites a study showing that data-driven B2B sales-growth engines enjoy above-market growth and EBITDA increases in the range of 15 to 25 percent.

B2B and SaaS sales-growth focused pull five mutually reinforcing levers systematically to empower their sales organization to derive impact from insights, to be able to improve value-based opportunity prioritization, frontline delivery, and continuous improvement.

Digital maturity, that is, having the expertise and data are needed for this GTM and growth strategy to work. While it does not prevent companies from using the strategy, higher amounts of data, tools and talent certainly help accelerate and improve decision making confidence.

How StrikeZone can Help You Improve your GTM Success

If your organization is struggling with weak acquisition, conversion, and expansion of your products and services, our sales management system experts can help. We improve or level up the skills of B2B sales, marketing, lead gen and customer success teams. That helps them shift and transform results from good to great, so they can begin to break sales records for you.

Unique expertise. For your unique business

We are experts in helping sales and executive leaders of business to business B2B and software as a service SaaS companies build teams that produce record results. We focus on the complex details of the sales force, as well as marketing, inbound and outbound teams, customer success, and customer service facing teams.

That includes product development, strategy, marketing and lead generation and customer success. Further, our sales system helps guide and develop skills to enhance both selling results and B2B or SaaS management practices.

Fact-based Approach

StrikeZone Sales Systems uses a transparent, fact-based approach and unique tools to assess your entire selling value chain. That includes frontline sellers, sales operations, technical and engineering teams, and sales support teams.

We help you reduce change risk because of our approach, tools, engagements, and decades of experience. So, we help you see the realities and risks of change. It’s part of the StrikeZone difference.

Creating Business Value and Valuation

If your business and go to market activities are not reaching your goals, The Strike Zone approach can help. Our experience is creating durable sales growth, operational excellence, and strong financial results.

What is Go To Market Strategy - GTM?