What is a go-to-market strategy?

A go-to-market (GTM) strategy allows companies to position their products effectively and stand out from competitors. This plan offers a structured framework for marketing and sales teams navigating complex product launches. It also includes performance metrics to help businesses measure their performance and swiftly adjust.

Businesses in all industries need skilled professionals to create effective go-to-market strategies. Upskillers can help meet this demand by learning relevant skills, such as business analytics and market research. This guide covers the key components of a go-to-market strategy, use cases, and careers involving GTM execution.

A go-to-market strategy is a comprehensive road map for bringing a product or service to market. It outlines how a business positions and promotes its new offering to engage the target audience.

Businesses use GTM strategies in several scenarios, including:

Suppose a software as a service (SaaS) company plans to launch its top-selling event management platform in a new market. Their go-to-market plan could include market research to pinpoint target audiences and understand their event planning needs. These insights allow the marketing team to create focused and tailored messages. The GTM strategy may also include an industry analysis to evaluate competitors and highlight the platform’s distinct features.

GTM strategies offer many benefits for businesses. These plans enable companies to carefully outline every aspect of product launches. Marketing and sales teams use these clear blueprints to work toward common goals and create consistent messaging. For example, Sales Representatives may refer to GTM strategies when they give product demonstrations to ensure they address specific customer needs.

GTM strategies also help organisations focus on high-impact activities. Say, for instance, a SaaS company researches its customers’ preferred communication channels. They might discover that their target audience is highly active on social media but rarely engages with email marketing. Based on this finding, they could prioritise influencer partnerships and social media campaigns to reach customers more effectively. This strategic focus can save significant resources and help companies make a strong impact immediately.

Developing a go-to-market strategy may sound complicated, but you don’t need to create an elaborate 50-step plan. A solid GTM strategy includes these four key elements.

An effective GTM strategy starts by defining the target audience. After all, you can’t develop a focused marketing and sales plan if you don’t know who your ideal customers are and how to reach them.

Here are a few proven strategies to identify your target audience:

Once you’ve identified a broad target audience, divide them into more specific segments based on similar demographics, interests, and other characteristics. This process enables you to tailor your marketing efforts more effectively and maximise your impact.

Finally, develop ideal customer profiles for each segment. The personas should include age, income level, occupation, hobbies, and other relevant details. You can even give them memorable names, such as Sustainable Sophie for an eco-conscious teen. These profiles will help you visualise your target customers more vividly and create highly personalised content.

Every go-to-market strategy needs a strong value proposition. This statement summarises the unique advantages of your product or service. In other words, it answers the crucial question, “What makes my offering the superior choice compared to the competition?”

A compelling value proposition aligns with your target audience’s pain points. Use surveys and other types of market research to collect data about their challenges and needs. Say, for instance, customers report that they can’t find healthy meal kit delivery services with recyclable packaging. Your value proposition could address this issue by highlighting your meal service’s nutritional value and eco-friendly materials.

A value proposition can also give you a competitive advantage by distinguishing your product or service from others on the market. Refer to this statement as you develop marketing campaigns to make sure you consistently spotlight your brand’s unique features.

Customers tend to gravitate toward specific distribution and sales channels. Many people prefer the convenience of e-commerce platforms and mobile applications. Others relish the adventure and in-person interactions provided by physical retail stores.

Research your target audience’s preferences so you can choose appropriate distribution channels that fit their shopping habits and behaviours. McKinsey & Company, the Harvard Business Review, and other market research firms frequently share insights into consumer trends and channel usage. You can also conduct focus groups and surveys to gain direct feedback from your customer base. By catering to these preferences, you can expand your reach and increase sales.

Even the most loyal customers won’t support a business if they view its pricing as outrageous or unfair. Avoid this issue by establishing competitive and strategic pricing for your products and services.

There are many factors to weigh when developing a pricing strategy for your go-to-market plan, including:

There’s no one-size-fits-all approach to creating a go-to-market strategy. Businesses can use several techniques to plan their product launch and reach potential customers. Here are three popular methods.

As the name suggests, the sales team drives the action for a sales-led GTM strategy. They help shape the overall strategic plan and use sales techniques to generate revenue.

In this go-to-market model, the sales team drives market entry by actively pursuing leads and building customer relationships. They focus on high-touch, consultative selling. For example, a Sales Representative could provide product demos to engage potential customers and nurture leads.

A sales-led GTM strategy allows businesses to deliver more personalised service throughout the customer’s journey. This attentive approach can improve customer acquisition and retention rates, leading to long-term growth.

The product takes centre stage for this go-to-market strategy. This technique aims to make the offering so appealing that it attracts attention organically.

The product-led GTM strategy focuses on delivering an exceptional customer experience at every stage. For example, a business may test and refine its software extensively to improve accessibility and user-friendliness. The sales team could also create onboarding resources to help customers learn how to use their new purchases quickly. This strategy can significantly improve customer satisfaction and boost retention rates.

Account-based marketing targets specific high-value customers with personalised marketing and sales efforts. Businesses use this method to build lasting relationships with key accounts and secure large deals.

Marketing and sales teams use many strategies to appeal to major accounts, including:

An account-based marketing plan allows businesses to focus on wooing a few major clients instead of engaging a broad audience. This strategy conserves resources and may reduce the customer acquisition cost.

Follow these steps to organise and streamline the go-to-market process.

Understanding the state of the market will help you make informed go-to-market decisions.

Start by analysing marketing trends to learn about emerging opportunities and potential challenges. Consult professional associations, thought leaders, and market firms for the latest data and research.

You should also analyse your customers and competitors. Tools like Ahrefs and Semrush provide insights into other companies’ search engine optimization (SEO) strategies. You can study their keyword usage, backlinks, and other tactics. This knowledge will help you develop a competitive digital strategy and build brand visibility. Additionally, customer testimonials and surveys can help you learn about your potential customers’ needs.

An effective marketing strategy recognizes the individuality of your customers. However, you don’t have to create marketing materials from scratch for each client. Segmentation lets you personalise your marketing without overwhelming your staff.

Sort customers into groups based on shared traits and tailor your marketing for each segment. For instance, a woman’s sporting goods company might partner with influencers to create engaging social media content for teen girls. By contrast, adult women may prefer simple email newsletters.

A strong go-to-marketing strategy includes tailored messaging that resonates with each customer segment.

Begin this process by creating a consistent brand voice across marketing channels. This approach builds brand familiarity and makes your offerings more memorable.

Next, research each segment’s interests and pain points. This knowledge will help you develop personalised content that explains how your product or service will improve their lives. You can also use A/B testing to assess different variations of marketing materials and improve your content over time.

Developing and executing a go-to-market strategy doesn’t happen in a vacuum. Encourage your marketing, product, and sales teams to collaborate for the best outcomes. You can promote cross-departmental facilitation by organising joint strategy sessions and group workshops. These events let all team members contribute to the go-to-market strategy and work toward shared goals.

Finally, gather and analyse key performance indicators (KPIs) to track GTM success. Relevant metrics include:

These KPIs will help you identify your successes and correct course if your GTM strategy isn't going as planned.

While go-to-market strategies offer many benefits, they also raise a few challenges.

Poor coordination can derail the best marketing plan. Keep all teams on the same page with consistent and regular communication. For example, you might organise a weekly group meeting to share updates and concerns.

Targeting the wrong audience is another common pitfall. Your team might spend weeks designing an elaborate marketing campaign, only to be met with crickets from consumers. Prevent this issue by researching your target audience thoroughly. You can also test your messaging on smaller groups before investing in a full-scale product launch to make sure your content resonates.

Explore successful go-to-market strategies from different companies and industries for inspiration.

Slack(opens new window) uses a product-led go-to-market strategy to grow its customer base. The creators of the communication platform conducted preliminary tests to gain user feedback and improve their product. They also created training resources to help busy professionals learn Slack quickly. These features made the product irresistible for many companies and fueled Slack's rapid growth.

Salesforce(opens new window) has developed a sales-led GTM strategy. The customer relationship management (CRM) platform uses content marketing to establish its authority and deliver customer value. Additionally, Salesforce creates tailored marketing campaigns to promote its products to different customer segments, increasing sales.

HealthLink Dimensions(opens new window) uses account-based marketing to promote its data services to hospitals, insurance companies, and other organisations. Sales Representatives use e-gifting as a personal touch to win over account managers, while the marketing team develops omni-channel marketing campaigns for key accounts. This GTM strategy increased the company’s customer acquisition rates by 234% in approximately one year.

Companies hire many professionals to develop and implement their go-to-market strategies. Here are three career paths related to this popular strategic approach with salary data from Indeed.

Average base salary: £72,000

A Marketing Director manages the marketing team as they create and execute GTM strategies. Their responsibilities include coordinating with leadership teams, managing the marketing budget, and overseeing campaign development.

Average base salary: £54,501

A Product Manager oversees the entire product development lifestyle, from conception to post-launch support. They collaborate with marketing and sales professionals to define and communicate the product's unique value proposition. Additionally, this expert contributes to the development of the GTM strategy by performing market research and planning product launches.

Average base salary: £41,001

A Sales Manager shapes the sales strategy and ensures the overall go-to-market plan aligns with the business goals. They also mentor the sales team, monitor performance, and help Sales Representatives achieve performance goals.

A strong GTM strategy can make the difference between a successful product launch and a disappointing flop. The right plan allows businesses to hit the ground running with a well-defined target audience, competitive pricing, and tailored sales strategies.

Developing an effective go-to-market strategy requires strong interpersonal skills and a thorough understanding of market dynamics. Gain the necessary knowledge with Multiverse’s free upskilling programmes. You’ll build future-proof skills while working for your current employer, so you won’t have to worry about pausing your career.

Upskillers study artificial intelligence, business analytics, digital marketing, and other in-demand fields. This content will prepare you to create and implement competitive GTM strategies in any industry. You’ll also receive personalised coaching to help you plan your career path and navigate the job market.

Take the next step in your career journey today by completing our quick application(opens new window). The Multiverse team will reach out to discuss next steps.