Posted: November 5, 2023 | Author: Seagull Advertising
In today’s highly competitive branding and advertising scenario, it becomes extremely important for brands to develop product positioning and messaging so that their products stand out in the market and create demand. This is where GTM strategy steps play an important role. For your brand launch. Before we delve deeper into how to create a GTM strategy, let’s first answer the basic question - what is a go-to-market strategy?
A go-to-market (GTM) strategy is a well-thought and documented plan that offers you the blueprint of the fundamental steps you need to take for your brand launch to be effective and fetch the desired results. A good brand strategy is not just about what you offer but how you deliver it to your target audience. In this comprehensive guide, we will explore
GTM strategy steps that will help you in achieving your brand launch goals. Read on!
9 GTM strategy steps by Seagull Advertising agency that will help you in a successful brand launch
Step 1: Identify the pain points before you even think of a brand launch
If you are not solving a problem, you are not adding value to your customers. Before a brand launch, what you need to consider is what is the problem that you are trying to solve, and what is your unique value proposition.This concept is known as product-market fit. For example, Uber solves the problem of hailing or calling a taxi. Ariel helps you in getting rid of stains. Identify the pain point of your customers, and almost half the battle will be won.
Step 2: Before the brand launch, you must define your target audience
In its GTM strategy steps, Seagull Advertising Agency ensures it clearly defines the target audience for their clients. This is achieved by answering a set of important questions.
- Who is experiencing the problem that your product solves?
- What are the specific pain points your product can address?
- How much is your audience willing to pay for a solution?
The most common ways to define your target audience are - creating an ideal customer profile (ICP) and buyer personas. These methods will help you in identifying the specific set of people relevant to your brand.
Step 3: Understand the demand and competition before the brand launch
Once you have completed the first two GTM strategy steps, you will have to then understand the competition and demand for your product. This can be achieved by answering a few questions such as who is already offering a similar product, how does your product differ, is the market saturated, etc. Before the brand launch, make sure that there’s enough demand and not too much competition
Step 4: Your pricing strategy will play an important role
The price you set for your product or service is always an important aspect of a good brand strategy. The pricing should match the perceived value of your offering and your target audience's willingness to pay. Before the brand launch, consider factors like costs, competition, and customer expectations when defining your pricing strategy.
Step 5: Define effective distribution channels in your GTM strategy steps
If you wish to ensure effective and maximum reach to your target audience, you must go for effective distribution channels. Distribution channels could be direct sales to online marketplaces, retail partners, or distributors. Make sure you have researched your audience's preferences and accessibility.
Step 6: Develop a robust marketing strategy for your brand launch
Your marketing strategy should align with your value proposition, product positioning, and pricing. Craft compelling and consistent messaging that resonates with your target audience. Your marketing strategy should be a mix of digital marketing, content marketing,traditional advertising and social media.
Step 7: The ultimate aim of a brand launch - sales
When you are crafting your GTM strategy steps, your final goal obviously is sales. So, it becomes important to thoughtfully plan how you will be converting your potential customers into actual buyers. The four most common sales models you could choose from after your brand launch are -
Self-service model (E-commerce) I Inside sales model I Field sales model I Channel model
Step 8: Define your goals
You should set clear objectives before planning for a brand launch.Goals give you specific targets to aim for, a clear timeline, and a way to measure progress.
Step 9: Customer feedback helps in analysing and revising your GTM strategy steps
Your job won’t end after the brand launch. You will have to encourage customers to provide their valuable input on their experiences with your brand, which can further help you in analysing your GTM strategy steps and make improvements. This will help you enhance your customers’ satisfaction.
If you are looking for a brand launch, the first thing you must get right is onboard a renowned advertising agency like Seagull Advertising agency that will help you in creating a good brand strategy. Seagull Advertising agency prides itself on crafting robust brand launch strategies for its clients. With a rich legacy of 27 years, Seagull Advertising agency has helped over 100 brands soar high and grow better.
