Go to Market strategies apply to individual lines of business, that is, to one of your particular products or service lines. An effective Go to Market strategy is entirely compatible with and supportive of your corporate, overarching sales strategy. Many of the same questions asked (and answered) at the sales strategy definition stage re-emerge – target markets, value proposition, communication etc. But in thinking about your Go to Market strategy for individual lines we have to get more granular.
Go to Market strategies are so often created in the run up to a new product launch and then put away and forgotten about to gather dust. Let’s recognise that whilst a new launch is critical to sustaining success and growth whilst the market is capable of sustaining such growth, there will come a time when what was once a hot product starts to move into it sunset years. We must plan for those sunset years right up from so that we can make appropriate sales investment decisions over the entire projected lifecycle. And by “appropriate” we mean, of course, “most profitable”.
Factors to consider for a solid Go to Market strategy that is going to work include:
- Your audience
- Sales opportunity
- Your business focus (in relation to this particular service or product)