Go-to-Market Strategy
AdvancedA go-to-market strategy is a plan for how a company will launch and sell a product or service to customers, covering who the target customers are, how they will be reached and how the product will be priced and sold.
A strong product can still fail without a clear way of reaching customers. A go-to-market strategy, often shortened to GTM, sets out the practical path from product to revenue.
It typically covers the target market and customer segments, the value proposition and messaging, pricing and packaging, sales channels, such as direct sales, online self-service, partners or retailers, and marketing tactics to generate demand.
For example, a software company might decide to target mid-sized manufacturers, offer a free trial, sell through an online sign-up for small customers and a sales team for larger accounts, and generate leads through industry events and online content.
GTM strategies are used for new companies, new products and expansion into new markets. A good strategy helps keep customer acquisition costs under control and speeds up growth. Companies often test and adjust their GTM approach as they learn which channels and messages work best.
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