03 Useful tips
Go to market
A go-to-market strategy (GTM) is the plan for targeting the right pain point with the right sales and marketing process, so you can grow your business at the optimum pace. You can create a GTM strategy for a new business but also for a new feature, brand or location. Incorrect GTM strategy can cost years in going the wrong direction with development and marketing.
Below you will find main recommendations, information, services and tools for your further work in this area. Please also check the presentations we have provided during the bootcamp, especially business model canvas, design thinking for proposition testing for specific personas or market sizing approach.
- What is the benefit of buyer/client from your product?
- What differs your product from competitive products?
- If your product is new or unique, what is the feature/property which makes the difference?
- If your product is not unique, why should it be purchased?
Prepare your marketing plan:
- Describe overall market and define your specific market
- Analyse your competition, suppliers and customers
- Present your marketing strategy
Geography, demography, life style, consumer behaviour, motivation to buy, buyer behaviour
- Build your estimations on solid base and lean on known facts and numbers
- Estimation should be logical and easy to understand
- Compare different resources
- Be creative
- Be critical to your estimations and repeatedly check if it makes sense
- And finally – the fact that market estimation is immensely difficult is not the reason to fake it – on the contrary.