This document outlines the five key steps to developing an effective go-to-market strategy: 1) Define target markets by identifying gaps and groups that would most benefit; 2) Define target customers by understanding their problems, needs, and desired experience; 3) Define brand positioning by differentiating from competitors; 4) Define the product offering by highlighting unique features and benefits; 5) Choose appropriate marketing channels based on efficiently reaching customers in that sector, including both inbound and outbound options. Following these five steps provides clarity around bringing a product to market.

1. GO-TO-MARKET STRATEGY
¬
FIVE STEPS

2. One word to describe what a succinct go-to-market
strategy brings to the table:
CLARITY
In a world of information overload, we have all the data we could
possibly need about our business activities, but we need a system to
organise and analyse this information if it’s ever going to be useful.
Find out the five key steps to developing a go-to-market strategy...

3. 1) DEFINING YOUR TARGET MARKETS
ONE OF THE BIGGEST MISTAKES BUSINESS OWNERS OFTEN MAKE
IS IN BELIEVING THAT THEIR PRODUCT IS FOR EVERYONE.
Where are there gaps in the market?
Which groups of people could most benefit from this product?
Which markets can be reached most easily, and at a low cost?
Which markets have a considerable market reach with low competition?

4. 2) DEFINING YOUR TARGET CUSTOMERS
THE MORE A COMPANY KNOWS ABOUT THEIR CUSTOMERS, THE MORE
SUCCESSFUL THEIR GO-TO MARKET STRATEGY IS LIKELY TO BE.
What problems is this product trying to solve?
Who’s the end-user of this product, specifically?
What would be a perfect customer experience of using this product?
What emotions should customers be experiencing when using this product?

5. 3) DEFINING YOUR BRAND POSITIONING
HOW IS THE BRAND DIFFERENT FROM ITS COMPETITORS AND
WHERE DOES IT SIT IN THE PARTICULAR MARKET?
Once a business has positioned their brand in the mind of their customers
they can move on to delineating their product offering.

6. 4) DEFINING YOUR PRODUCT OFFERING
PRODUCT’S UNIQUE VALUE PROPOSITION OR UNIQUE SELLING POINT.
This will include a product’s main features and points of interest, points that
should ideally set it apart from the competition.

7. 5) CHOOSING YOUR MARKETING CHANNELS
COMPANIES SHOULD CHOOSE THEIR OPTIMUM MARKETING CHANNELS BASED ON
THE MOST EFFICIENT WAY OF REACHING CUSTOMERS IN THEIR SECTOR.
Marketing channels refers to both inbound and outbound forms of marketing, with the former
including blogs, podcasts, social media, email newsletter and online videos.
The latter including direct mail, telemarketing, flyers, and television and radio advertisements.

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