Go-to-market strategy FAQs
Below are some quick responses to some of the most common questions we see about GTM Strategies:
1. Who is responsible for GTM strategy?
The person responsible for creating a go-to-market strategy will vary from company to company, but it’s typically someone who has experience in marketing or sales. In some companies, like startups, the founder usually takes responsibility for this task and then passes it off once the business becomes larger and more profitable.
In larger corporations with dedicated marketing departments, often there are specialists who focus on developing these strategies; however, even here it’s still important that everyone understands how their work fits into the bigger picture of generating revenue and growing market share.
2. What is the difference between product-based and customer-based go-to-market strategy?
A product-based go-to-market strategy is the most common and easiest way for a company to get started. It’s based on the idea of creating a core product and then selling it to a large audience. A customer-based go-to-market strategy is more complicated and requires more planning.
A customer-based go-to-market strategy is based on the idea that you should identify your best customers, study their needs and wants, then tailor your products to those needs and wants.
If you’re just starting out, you probably don’t have enough data or experience yet to develop a truly customer-focused approach. However, even if you’re a veteran at this point, it’s still useful to think about how your customers use your product or service and what they need from it.
3. What is the difference between a go-to-market strategy and a marketing strategy?
The go-to-market strategy is the plan for how you will bring your product or service to market and get it sold. It encompasses all aspects of the marketing mix–product, price, promotion, place, and people.
A marketing strategy is an overall plan for how you will communicate with your customers and prospects. It may include aspects of your go-to-market strategy, but it also includes many other aspects of your business that are not part of an overall go-to-market plan. How to Write a Go-To-Market Strategy 2023
Below are some quick responses to some of the most common questions we see about GTM Strategies:
1. Who is responsible for GTM strategy?
The person responsible for creating a go-to-market strategy will vary from company to company, but it’s typically someone who has experience in marketing or sales. In some companies, like startups, the founder usually takes responsibility for this task and then passes it off once the business becomes larger and more profitable.
In larger corporations with dedicated marketing departments, often there are specialists who focus on developing these strategies; however, even here it’s still important that everyone understands how their work fits into the bigger picture of generating revenue and growing market share.
2. What is the difference between product-based and customer-based go-to-market strategy?
A product-based go-to-market strategy is the most common and easiest way for a company to get started. It’s based on the idea of creating a core product and then selling it to a large audience. A customer-based go-to-market strategy is more complicated and requires more planning.
A customer-based go-to-market strategy is based on the idea that you should identify your best customers, study their needs and wants, then tailor your products to those needs and wants.
If you’re just starting out, you probably don’t have enough data or experience yet to develop a truly customer-focused approach. However, even if you’re a veteran at this point, it’s still useful to think about how your customers use your product or service and what they need from it.
3. What is the difference between a go-to-market strategy and a marketing strategy?
The go-to-market strategy is the plan for how you will bring your product or service to market and get it sold. It encompasses all aspects of the marketing mix–product, price, promotion, place, and people.
A marketing strategy is an overall plan for how you will communicate with your customers and prospects. It may include aspects of your go-to-market strategy, but it also includes many other aspects of your business that are not part of an overall go-to-market plan. How to Write a Go-To-Market Strategy 2023
What do you think about this post?
We want to hear from you all.
