With an effective GTM strategy, you can reduce your time to market, increase adoption rates/conversions, decrease chances of failure, and ultimately, pull off a successful product launch.
However, creating a GTM plan from scratch isn’t easy.
Target Market – before anything else, you should have a clear definition of your target audience. This involves the demographic, psycho-graphic, geographical, and other variables that can help you narrow down your focus. Furthermore, you’ll also need to create buyer personas and pin-point the ideal profiles that you want to target (more on that later).
Value Proposition and Product Messaging – your value proposition and a clear description of your product (the problems it solves, etc.) are two other key components of your GTM strategy. These will help you position your brand and stand out from the crowd.
Pricing Strategy – depending on your target market and positioning goals, decide on an appropriate pricing strategy.
Distribution Plan – finally, make sure that you have an effective distribution plan in place for your new product.
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