A go-to-market strategy is the plan of an organisation to deliver their unique value proposition to their potential customer segment and achieve a competitive advantage.
The end goal of a go-to-market strategy is to define the overall customer experience taking into account various aspects of the value proposition such as the quality of the product or service, pricing, delivery channel, people, etc…
A fitting start
Having accomplished the initial product/market fit, a company should now hold vital information on which exact problems they are solving, and which features are most appealing to their earlier adopters basis. It’s time now to plan growth towards marketing your offer to most plausible target markets, towards a broader majority of customers.
A first exercise to model your target market is the creation of buyer personas. Buyer personas are semi-fictional representations of ideal customers based on real product/market fit data, and some select educated speculations about customer demographics, behaviour patterns, motivations and goals. This will pretty much form the base for all next marketing activities.
The importance of a brand lies much further on what effect a logo has on an audience. It constitutes a general awareness on what it means to work with a company, highlighting attributes such as innovation, simplicity, partnerships, performance, reliability, consistency, support…
Understanding the competition is crucial in deciding how to offer your product or service. Gathering information about how competitors are performing in the market, what customers think of the different products available and what is missing in the market through conducting research using different methods such as SWOT and PEST analyses.
Knowing the particularities of the value proposition, as well as the target markets, specific awareness and demand generation programs need be set up and tested (A/B) to maximise incoming leads and their qualification. Although different target audiences demand different approaches, this will mostly be a combination of inbound and outbound activities.
“Customers don’t want to be sold to, they want to be educated to help them make smart well-informed decisions.“
Prof. Dr Theodore Levitt,
Harvard Business School
Inbound vs outbound
In today’s world where communication has become a commodity, and where prospects have become very picky to which messaging they receive and when, a new approach of educating rather than selling has emerged. Communication ought to be embrace short meaningful messaging that brings value to the receiver. Companies have to consider creating awareness about the problem, providing a solution framework for its audience to consider, and finally highlight how its own solution best fits that framework.
Content in context
From their buyer personas, companies will have insight on explicit data revealing to which content their target audience will generally likely react. Adding personal implicit data to that equation—such as the stage a prospect is at, the webpages he/she reviewed, emails that have been exchanged, etc—adds context to the conversation. Without that context, it doesn’t matter how well-written a message potentially is, the prospect will likely not properly react on it, and the company may well lose his/her attention…
Thoughts & Experiences
The biggest reason people are turned-off by digital marketing is mainly because they find ads to be annoying and intrusive. But there are ways to get an audience genuinely engaged…
An important part of the sales process is the lead qualification. Companies ignoring proper evaluating leads risk over-investing in a follow-up with uncertain sales outcome.
Whether a company feels needing to focus on inbound vs outbound marketing, or preferably doing both, a blog is always the most essential part of any content strategy. Here’s why.