Creating a company and placing it on the market in such a way that it stands out in this increasingly competitive scenario is the dream of any beginner. And, to achieve it, a good insertion plan is necessary.
We are talking about the Go to Market (G2M), a strategy for placing your product or service on the market in a more precise and efficient way.
She focuses on short and medium term results to achieve specific goals and drive the initial development of your business.
It is very common to associate the go to market strategy with the business plan.
Although the two concepts are related, they have their differences and must be applied at different times.
In this post, we are going to explain the main differences between them and what are the steps for you to use go to market to achieve the success of your business.
Knowing the go to market
As we have already said, the go to market is a strategy designed for companies to introduce their products or services as necessary to achieve faster results.
She prevents entrepreneurs from opening a lot of fronts at the mercy of God. By keeping the focus on you, you actually increase your chances of sales success.
Unlike the business plan, which is a broader study focused on gradual and long-term development, the go to market contains actions aimed at short-term responses.
It contains concise and optimized stages to exploit in a short time the maximum potential of a group of actions to reach customers.
It is ideal for companies that go to or services, that are restructuring or want to expand their business.
They are specific actions focused on pillars, bearing in mind from the beginning what your objectives are and who you must achieve.
Do you want to know these pillars better? Keep accompanying.
Strategic pillars
To be so effective, this method must be based on three pillars:
- Product
- Public
- Promotion
Thus, it is necessary to be very clear about what you want to sell, to whom it is intended and which are the best.
All this must be thought of by adding value to the products, your company and your actions.
Once the main pillars have been determined, it is much easier to define the actions that you are going to carry out in search of your initial objectives.
How to apply the go to market strategy
Before following the next steps, think about how you want your company to be seen, that is, how your customers should recognize it.
Then, you must prepare for possible changes that can represent even more possibilities for action in your business.
Your expectations are not always aligned with the wishes of the customers. But the ideal is that your concepts and principles are established, even so that you can perfect them.
Always keep your values and the responses you want in mind when taking action.
With that in mind, you can follow these 5 tips to start a go to market strategy:
1. Know your market
Knowing your niche is essential for any successful entrepreneur.
Through a good one, you can obtain valuable information for your business such as:
- The competition;
- Public acceptance of your product;
- The gaps you can fill.
In addition, it helps to have a real vision of what works and what does not work, avoiding unnecessary wear and tear.
Another point is to understand the needs of your client.
If you focus on pleasing a very general audience, you may end up with no audience at all.
It is very important to know closely the public you want to reach, what their priorities are, how they respond to certain stimuli and what they seek in your products or services.
Creating a, that is, a profile of an ideal client, ensures that the actions applied will dialogue directly with the desired and representative segment for your company.
Its characteristics must be considered not only in this method, but in all the actions or decisions of your business.
This is the main point to continue with the other steps.
2. Have a well-defined value proposition
Knowing the market and your public, you manage to attribute the values that your company wants to transmit.
This is an excellent way to build your differential, generate identification and expand your business.
It is also one of the secrets of the go to market strategy: the investment between what is sold and how it is sold.
The product is not always innovative, but the ways of offering it can and should be.
For example:
If a person teaches customers how to make their own furniture, she doesn’t just sell them the course. What she sells them is the happiness of carrying out their own projects.
And how is that sold? through your courses.
Adding values shows that you understand the true needs of your ideal customer, which they will be able to reach by purchasing your products or services. This is how your business acquires more notoriety and becomes more competitive.
Attributing the proper meanings only tends to increase the chances of initial success.
3. Define your goal
Like any good strategy, the go to market requires that you have your objective well defined.
What is the main point you want to achieve after that action?
A primary goal is not always the most obvious.
Sometimes, with the announcement of a product, you don’t just want to sell more, but also bring a new concept that the company will adopt or also promote more interaction with customers.
For example, someone who wants to promote their brand needs to focus on customer service and relationship before thinking about sales.
The suggestion here is to draw a very specific objective from your general objective, something that can be effective and measured at the end of the campaign.
Remember that you must record everything to ensure that the stages are always aligned to the purposes.
In this way, it is much easier to optimize the work and the final satisfaction with the result obtained.
4. Select your sales channels
At this stage, you should consider all possible channels of promotion and sale of your products.
The are important allies in the connection with the public, whether to promote interactions and direct purchases to store and share relevant content to build your company.
Other channels to consider are blogs, websites, chat applications, and sales platforms.
Of course, the channels you choose must always take into account your intentions and the study of the target audience.
You can conduct research and even measure the responses of your customers in each chosen channel.
It is also important not to neglect your analysis and personal affinities so that you can take full advantage of these forms of interaction or sales.
Only then can you determine the best media and the ones that you and your audience use the most.
5. Analyze your results
Go to market is a strategy to obtain results quickly and objectively, with a well-defined focus.
Therefore, a final analysis is more than indicated to confirm the effectiveness of the actions and if the decisions taken are on the right track.
A good digital business needs constant evaluation of performance and results.
The and evaluations are important tools that show you the effects of your actions.
In specific strategies such as go to market, the points evaluated must be in accordance with the objectives, and be as specific as possible.
There are many tools that you can use to measure the performance of the chosen campaigns.
We advise you to use the ones that will provide you with the most precise data in relation to the points evaluated and also the ones that you master, in order to interpret your performance in the most correct way.
In addition, it is important that you do not neglect the observation in each of the stages. This way you will understand exactly which points were favorable and which need to be perfected for the next actions.
You just have to put it all in your logs and you will have an excellent view of the performance obtained with this method.
Remember that entrepreneurship is a constant learning
It is proven that setting goals and defining strategies is an excellent route to success in any endeavor.
Go to market is a functional action. Having a well-defined structure, it is capable of guaranteeing quick results.
Exploiting the potential of this method, you can work in an optimized and enthusiastic way, focusing on small goals to be achieved and gradually guaranteeing the expansion of your business.
But, by presenting short-term answers, the results will not always be in line with your expectations.
The actions serve as learning stages, differentiating what works and what does not work, always contributing to decision making.
Entrepreneurship implies being in constant learning and it is from it that long-term evolution comes.
Thinking about future results, having a well-defined business plan is a good idea, after all, it brings a broad reading of your business.
If you still don’t know how to do it, read the guide we have prepared so you can.
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