B2B Go To Market Strategy

b2b go to market gtm strategies services orlando florida



Why Is it Vital to Have a Strong B2B Go-to-market (GTM) Strategy?

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Not having a GTM strategy is a bit like choosing your next vacation by throwing a dart at the map. You could accidentally end up with something you wanted, or you could land in the middle of the Atlantic. There’s something to be said about living a carefree life, but when hundreds of thousands of dollars are on the line, it pays to have some idea of what you’re doing.

But what exactly does a GTM strategy do? Let’s assume you’re trying to build a house. Without a plan in place:

  • You’ll likely order too many or too few supplies
  • You’ll run into production issues when your construction team don’t know what they should be doing
  • The house likely won’t be designed in a way that suits peoples’ needs or satisfies their desires
  • You won’t know how to properly price the house to both entice potential buyers and make back your investment
  • At the end of the project, you may find that on top of all the mistakes you already made, it turns out the location of a house matters and very few people want to buy an 6-bedroom apartment built in the middle of a swamp

When developing a GTM strategy for your product or service, it will greatly impact the odds of your success if you plan out every stage, including who the product/service’s targeted towards, what needs are being fulfilled, how you’ll engage with those customers, and so much more.

A GTM Is Not a Business Plan

A GTM is designed to map out the creation and initial launch of a new product or service. A business plan is larger in scope and maps out how an entire company will achieve its proclaimed goals. While these two strategies are similar in their objectives, a business plan is inherently more widespread in what it covers as it focuses on a company’s plan for success as a whole.

What Should a Go-to-Market Strategy Include?

A GTM strategy is simply mapping out all the potential problems you’ll run into when developing a new product or service, and how your company will plan to approach those problems. That’s why it’s a good idea to sit down with a team, discuss those potential problems, and measure out reasonable solutions to them. For example:

  • The Markets
  • Product Highlights
  • Your Competitors
  • Identify Opportunities
  • Branding
  • Messaging & Positioning
  • Lead Generation
  • Timeline
  • Distribution
  • Price

Go-To-Market Strategy FAQ

The four components of a go-to-market strategy are all critical elements that need careful consideration when launching a new product or expanding into new markets:

  • Market segmentation
  • Value proposition development
  • Messaging and positioning
  • Sales channel selection

There are many different tactics you can take when developing your go-to-market strategy. Not one is totally superior to the others, but the best choice largely depends on the type of product/service you're trying to sell and your company's presence in the industry it's trying to appeal to.

Demand Generation Go-To-Market Strategy - A tactic based on building an explosive level of awareness by taking advantage of several different marketing segments at once, including sponsored webinars, email blasts, pay-per-click ads, and more. That sudden level of interest then drives demand when the product or service launches.

Account-Based Marketing Go-To-Market Strategy - A team-based tactic where the marketing and sales teams work together to identify the highest-quality leads, then optimize the marketing messaging to aggressively target these potential customers.

Sales Enablement Go-To-Market Strategy - Figuratively arms your sales team to the teeth with specialized training, increased staff, and all the resources they need to aggressively pursue as many leads as possible.

Inbound Go-To-Market Strategy - Rather than pursuing leads like the other strategies, this tactic puts all the focus into creating persuasive advertisements around the product or service itself, thereby increasing the flow of organic leads.

Identifying specific groups of consumers with similar needs or characteristics so that marketing messages can be tailored to them.

Creating a unique value proposition that differentiates your product from competitors by highlighting what makes it special or better than other offerings in the market.

Developing messaging that resonates with your target audience by addressing their pain points while positioning your product favorably in their minds relative to competitors' offerings. Good messaging and positioning require a deep understanding of both your target audience as well as your competitor landscape in terms of strengths/weaknesses etc.

Identifying distribution channels that align with your target audience (e.g., online vs. offline) & value proposition (e.g., high-end vs. budget) while also considering factors such as cost-effectiveness & scalability.