Go-to-market

Time-to-market - The successful route to market

The path to a successful market entry is called a go-to-market strategy. So what characterizes a go-to-market strategy and how does a successful market entry succeed?

What is meant by go-to-market?

The go-to-market strategy is the basis for the successful launch of a product or service in a new or existing market. In addition to taking a close look at the market and the competition, normative, strategic and operational aspects are also considered. Target markets and target groups are determined as well as the value proposition and value proposition. At the end of the go-to-market strategy is an operational marketing mix.

What is the go-to-market strategy suitable for?

• Entering an existing market with a new product or service
• Entering a new market with a new product or service
• Entering a new market with an existing product or service
• Reorganization of the product portfolio in the market

The aim of a successful go-to-market strategy is to successfully achieve the marketing goal or marketing approach within the defined time frame. If the normative corporate purpose has been developed in the form of a mission and vision, the go-to-market strategy starts at this point, otherwise this can also be integrated into the process. A go-to-market strategy (GTM) means a lot of work, but it pays off at the end of the day because it is the basis, or rather the orientation guide, for successful market entry.

Contents of the successful go-to-market strategy

This is how sensible a market entry strategy is

"If you know your market, you can order it successfully", this thesis actually states it very well. So why should you set yourself up for a stumbling block and conquer a market with trial and error? Creating a go-to-market strategy is absolutely essential for checking and consolidating your market knowledge. With the right go-to-market strategy, you can make the tactical decisions that are necessary for a successful market entry.

As described above, target markets today are often fast-moving and highly competitive. The right positioning of products and services in the competitive environment creates the basis for start-ups or companies entering a new market segment in particular to survive sustainably and successfully in the target market.

The most important elements of a successful market strategy

Here we show you a few basic elements of a go-to-market strategy in a temporal context.

Normative level

Today's relationships with companies or service providers often take place in dialog. Interested parties and customers no longer take in a bold advertising message, but want to verify the value and sustainability of a company. It is therefore advisable to communicate your own vision and mission transparently and credibly to target customers and interested parties. We therefore always recommend using your own vision as the basis for marketing.

Strategic level

After determining the normative values of the company and its actions, these must be translated into strategic and tactical elements. This requires a series of definitions.

1. Target markets
   1. Universe. What are the key figures of the market? How high is the turnover per year, how many units of the products are sold? What is the market trend? - Is the market growing or leveling out?
   2. Competition. Who are the relevant competitors in the market? what market share do you have? how do you position your products or services? where do you sell and advertise?
      
2. Target group
   1. Who do I want to reach with my product?
   2. What solution for needs and problems do I bring to the personae / personas?
   3. Are there factors that influence the purchase decision of my personae / personas?
   4. Are there price indicators that I can assign to certain personae / personas?
   5. Can I already segment customer groups?
      
3. Benefit dimension
   1. Basic benefits
   2. Additional benefits
   3. Characteristics of performance, enthusiasm, rejection and materiality
   4. Positioning
      
4. Value dimension
   1. USP - Unique Selling Proposition (comparison with competitors)
   2. UVP - Unique Value Proposition
   3. UAP - Unique Advertising Proposition (core statement from USP & UAP)

Operational level

Now that the normative and strategic values and goals form the basis of the plan, it is time to plan and monitor them operationally. This is where the marketing mix comes into play as an instrument:

Marketing mix

Key performance indicators

This is an outline of a successful market entry. If you have any further questions, please do not hesitate to contact us:

Martens & Kollegen - Go-to-market

We can draw on the experience of many successfully implemented marketing strategies, which we have also successfully and sustainably implemented in a measurable way.

We are your partner from the discussion of your business model through to the development of the complete strategy with subsequent, optional implementation and performance measurement in all phases of your entrepreneurial activities.

From the idea to the market, from start-up to successful market participant, from medium-sized companies to new sectors, as a scale-up in the process, contact us and use us as your partner for go-to-market in Germany.

Fast, with practical experience and strong opinions.