What are go-to-market strategies

Go to Market Strategy: Tips for a successful market launch with podcast

90% of founders and product innovations fail. There are many reasons. Often there is no need in the market or a lack of liquidity. In Germany, failure is seen as a flaw. A go-to-market strategy prevents failure ????

A market entry campaign is the strategic plan for successful business. One of the most important success factors is the unique value proposition for customers with real competitive advantages.

The goal of a go-to-market strategy is to improve the customer experience with a great product. Why is a successful launch so important? Because mistakes when entering the market lead to failure and even bankruptcy. Find out how to safely plan your successful market entry.

What are the reasons for the failure? No need in the market, lack of liquidity, unsuitable team or too strong competition. In addition, the following reasons lead to failure: bad core product, incorrect pricing and a non-functioning business model. Read more about this in the article: Why startups fail and how to avoid these mistakes.

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A go-to-market strategy constitutes the decisive competitive advantage and should therefore receive attention and value. She strategically combines all topics:

  • How is your positioning?
  • What products and services do you offer?
  • Which customer segments do you want to address?
  • How do you reach your customers?
  • Where do you offer your products?

Strategic process for Go to market strategy

Going to market requires a strategic plan with three phases:

1 Research: Definition of the target market with market and competitor analysis

2 Digital products for the personas with a value proposition and an attractive price

3 Persona approach for sales with content marketing, social media and social selling.

Source: Tarikab3, cross-wiki upload from en.wikipedia.org

1 Research: Definition of the target market with market and competitor analysis

When preparing to develop a go-to-market strategy, market and competitor analysis is important, because you can use this information to develop your strategy.

  • Trends: How is your target market developing?
  • Competitors: Who are your competitors?
  • Analysis: What are their strengths and weaknesses?
  • Strategy: How do you plan to outdo them in the competition?

2 Digital products for personas with value proposition with pricing

What does your ideal customer profile look like? Have you created your personas with jobs, pain and gain factors? Many people in charge of marketing do give a lot of thought to their personas.

However, the reality check is often missing: Beta testers do the product check. Only then can you understand whether your product offers great customer experiences.

  • What does the ideal customer profile look like in terms of jobs, pains and gains?
  • Which value propositions do I need for which customer?
  • What content and experiences do your customers expect?
  • How was the product check with the beta tester?
  • What are your insights into product optimization?

3 Persona sales with content marketing, social media and social selling

Companies often build up a patchwork of marketing channels over time. For an effective go-to-market strategy, it is important not to overload the portfolio of sales channels so that measures can be tested quickly. Which sales channel is successful for you?

Conclusion on the market launch: Success requires a structured approach

Go-to-market strategies require a structured process to proceed with defined key figures (KPI) for transparency and secure success. Success indicators can be:

1) number of website visitors, 2) number of leads and 3) achieved sales.

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