Growth Stratagies
February 11, 2024
Written by Rachid Ehabi
How I set up a Go-To-Market Playbook fast
I’ll be honest, many years ago I didn’t know what a ‘go to market’ strategy was (despite it being in the name). Years later, I can quickly set up a good one. Here's a brief overview of how I do it: In my experience, I've come to realise that the path to success often lies in mastering the fundamentals, even if they seem dull and straightforward. So, if you're aiming for growth, the simplest and most effective approach is to excel at those fundamental building blocks. That's the surest way to achieve the results.
In my experience, I've come to realise that the path to success often lies in mastering the fundamentals, even if they seem dull and straightforward.
So, if you're aiming for growth, the simplest and most effective approach is to excel at those fundamental building blocks. That's the surest way to achieve remarkable results.
Go-to-market is the process companies use to introduce a new offer to their potential customers or the same offer but in a different market.
On the journey to scale, we need to craft something that aligns with the vision and goals. Let's break down the key fundamentals:
Strategic Foundation:
Clarification: define the primary goal. What do you aim to achieve? Whether it's market expansion, revenue growth, or product adoption, a clear objective will be our guiding star.
The Right Metrics: Select 3 North Star metrics that will serve as your compass. These KPIs will help us gauge the effectiveness of your strategy, ensuring you’re on the right track.
Timing and Budget: Determine when you’ll launch your product or service and the duration of our marketing activities + find a budget range that aligns with your goals/resources.
Understanding the Audience:
Define target audiences: Identify 3 distinct groups of potential customers you plan to target to tailor your approach effectively.
Research: Dive deep into each audience segment. Understand their needs, behaviours, and pain points. This knowledge will inform how you engage and connect with them.
ICPs: Develop 3 Ideal Customer Profiles that provide a detailed picture of your ideal customers to help focus your efforts on the right people.
Positioning:
Positioning can take your marketing to the next level. Here are 5 key ways that you can differentiate from the crowd:
Main value proposition: define the primary benefit your product or service delivers to customers - the foundation of the messaging.
Differentiators: 3 benefits that set you apart from competitors. How are you the better, faster or cheaper option? Pinpoint 1 USP (Unique Selling Proposition) that makes you truly unique.
Messaging: Develop a messaging strategy that communicates the USP and benefits clearly.
Tailored copy: Tailor 2-3 messages for each ICP to resonate with their specific needs and desires.
Remember:
Strategy → What way do you strategise differently than the competition?
Structure → What positive impact does the product or service have?
Systems → How do you consistently deliver on your promises to customers?
Shared Values→ What common values help you understand customer needs better?
Style → How does your unique style enhance the customer experience?
As you dial in each of these areas, you will allow your prospective customers to reach an "aha" moment that much faster.
Taking Action:
Channels: select the marketing channels that best reach your target audiences.
Map the customer journey: understand the customer journey for each marketing channel to understand how the audience engages with each marketing channel
Budgets: Allocate the budget to each marketing channel based on its potential impact and relevance as this will sure you invest in resources wisely.Timelines: Set a clear timeframe for the launch of marketing activities. This timeline will keep you accountable for your strategy.
Resource for you - The ‘Mini GTM’ sheet
I didn’t know when or where to start when it came to doing a quick-fire GTM strategy. So I made this sheet (I use this all the time). It’s very easy to use to start with.
It’s more of an overall reporting sheet to help you know what to do when it comes to implementing the GTM. It doesn’t cover everything I talked about but it gives a simple / diluted version to get things going 👇
Grab it here
TL’DR
1. Strategic Foundation:
Define your primary goal.Select three key metrics (KPIs) as your compass.Determine launch timing, budget, and resources.
2. Understanding the Audience:
Identify three target customer groups.Deep research on audience needs and behaviours.Create three Ideal Customer Profiles (ICPs).
3. Positioning:
Define your main value proposition.Highlight three differentiators and one USP.Develop clear messaging and tailored copy.Consider the "Five S's" for differentiation.
4. Taking Action:
Choose the right marketing channels.Map the customer journey for each channel.Allocate budgets wisely.Set clear timelines for marketing activities.
Incorporating these steps will help you design an effective GTM strategy for your product or service.
Summary:
It's important to master fundamental building blocks with the "Go-to-Market" (GTM) process. The key fundamentals for a successful GTM strategy include:
1. Strategic Foundation:
Define the primary goal.
Select three North Star metrics (KPIs).
Determine launch timing, budget, and resources.
2. Understanding the Audience:
Identify three target customer groups.
Conduct deep research on audience needs and behaviors.
Develop three Ideal Customer Profiles (ICPs).
3. Positioning:
Define the main value proposition.
Highlight three differentiators and one Unique Selling Proposition (USP).
Develop clear messaging and tailored copy.
Consider the "Five S's" for differentiation: Strategy, Structure, Systems, Shared Values, and Style.
4. Taking Action:
Choose the right marketing channels.
Map the customer journey for each channel.
Allocate budgets wisely.
Set clear timelines for marketing activities.
The blog suggests using the 'Mini GTM' sheet as a resource for implementing a quick and effective GTM strategy.
TL;DR:
Strategic Foundation:
Define goal, choose KPIs, set launch timing, budget, and resources.
Understanding the Audience:
Identify target groups, research needs, and create ICPs.
Positioning:
Define value proposition, highlight differentiators and USP.
Develop clear messaging and tailored copy.
Consider the "Five S's" for differentiation.
Taking Action:
Choose channels, map customer journey, allocate budgets wisely.
Set clear timelines for marketing activities.
Following these steps will help design an effective Go-to-Market (GTM) strategy for your product or service.
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