New product. New market. New customer. All represent different dimensions but have one thing in common – all represent a need to connect your business to prospect clients. Zooming in a little, you might be launching a new product or service, relaunching your brand, entering a new geography, or trying to target a new customer base. In either case, you want to take your business USP to someone new. And for that, you need a go-to-market-strategy.
Go-to-market strategy is a tactical plan of action that outlines what you’re taking to the market, why is there a need for it, and what should be done so it resonates adequately with your target customer. The Talespinners team is adept at creating this go-to-market plan, executing it, and establishing measurable outcomes from it. We follow detailed steps when partnering with you on a go-to-market strategy:
1) We do the research: As a first step, we focus on understanding the ‘why’ of your new product/market and establish the fit. We aim to answer the following questions here –
- What purpose does your product/service solve for the customer? What is the need or want that it fulfils?
- Who is the right buyer or audience of the product? What all can we know about them? What does this audience segment relate to?
- Who else is in the market, your top competition? How can we distinguish your product from the competition’s?
- What is your product landscape like, in terms of price, market size, product complexity, B2B or B2C relationships?
- What will impact the sale of the product more, marketing initiatives or sales initiatives?
2) We define the market strategy: With deep understanding of your product and industry, we define a plan to engage your customers by creating unparalleled value. Here are the factors we look at:
- A value proposition that is unique to your brand
- Positioning of your product/service in the market and geography
- Key messaging and how it communicates the value your brand brings
- Stages of your target customer’s journey
- Personas of your buyers and their specific characteristics and behaviours
- Use cases of your product and how it fits in with the customer’s journey and behaviour
3) We implement the external marketing plan: In this critical phase of execution, we target the right user with the right message at the right time, taking cues from the strategy. We work to bring together the following aspects cohesively:
- Branding of your company and product, its description and visual representation
- Lead generation through the right platforms at the right marketing expenses
- Content creation to validate the value of your brand and product
- Your website, the information it has, and the compelling reasons it provides customers to make a purchase
- Events, ads, and PR to amplify your reach and launch to a wider audience.
4) We support the sales strategy: We empower your salespeople with the right information, so they may be able to capture your market share, after marketing activities have captured mind share. We can support them with marketing tools and resources that help in engaging with and selling to potential customers, and fine tuning the approach to engage clients.
5) We detail the success metrics: We think in terms of OKRs-Objectives and Key Results. We analyse what the marketing spend means to you and detail the returns it provides you. Our success metrics and methods are meaningful and measurable.