HOW TO GO-TO-MARKET

A Go-To-Market(GTM) plan is a strategic action plan specifically focused on the steps needed to launch a product.  It is not the same as a marketing plan which is broad and generic.  The GTM plan could be about breaking into a new market, launching a new product or re-launching a company after a merger or carve-out.  

An effective GTM plan centres around the 'gatekeeper(GK)', a representative of an organisation who manages the 'gate' and decides which vendor is to be let in.  It is human psychology.

In an MNC, this person could be a director in charge of procurement.  In a school, he or she could be the principal looking for corporate trainers for his faculty and students.  Without a doubt, other aspects such as product details and pricing are still very important.  However, none of these factors are as important as understanding the mandate, budgets and motivation of the gatekeeper.

THE BEACH-HEAD MARKET

The key to going-to-market is the Beach Head Market ("BHM"). 

 

The beachhead strategy comes from the military strategy of winning a small border area (the BHM) that becomes a stronghold, and from which they advance to the rest of the territory.

In business, the idea is to focus available resources on a small market area that the Company possesses certain UNFAIR ADVANTAGES to turn it into a stronghold before advancing to the broader market or product categories.  

The BHM is the first target to attack when the "boat lands on the beach".  For instance, clients that the company is already selling to, or clients with whom the company has a existing relationship. 

Example 1:- car tyre business.  The BHM could be car owners who have already signed up car servicing packages with a major retailer who is an EXISTING shareholder of the company.

Example 2:- loans business.  

GTM CHECKLIST

Ask yourself the following questions:
 

  1. Who is the GK?  What is his or her appointment?

  2. What is the GK's budget?  How much did he or she spend last year?

  3. What is the GK's motivation for meeting you?

  4. How does your pitch benefit the GK, or remove a pain?

  5. What is the pitches' value proposition?  Is your product/services Cheaper, Faster or Better?

"Cheaper"

  • Better prices
  • Interest-free instalment plans
  • Lower MOQ
  • Payment by credit-cards
  • Lower material costs
  • Lower cost of capital
  • Free delivery
  • Buy 2 get 1 free
  • Loyalty discounts
  • Budget-driven arrangements

"Faster"

  • Same-day delivery
  • Shorter lead time
  • Higher production volume
  • Wireless-transfers
  • Tap-and-go systems
  • Provision of draft plans before confirmation
  • Availability of help-desks
  • Chat-bots

"Better"

  • Money-back Guarantees
  • Credibility, awards and professional certifications
  • Greater awareness, distribution
  • 24/7 operations (i.e. 7-11 convenience shops)
  • World-wide delivery
  • Mobile friendly websites; mobile applications
  • Training Support