3 critical components of your go-to-market strategy
Your go-to-market strategy outlines the approach you take to drive commercial growth. So what is needed for a scaling-up go-to-market strategy?
The Sales Story
Before you try and scale your sales machine you need to get your story straight. So what are the key elements of a good sales story?
What is the problem that your product solves?
Who are your customers, and what is their problem?
How much does the problem cost your customers?
How is the problem being currently solved or worked around?
What is your solution and why is it better?
The Sales Materials
The materials are everything your sales team needs to communicate your well-crafted story and start securing those sales. This means they will need materials to support them through all stages of the sales funnel. These materials include:
Scripts for phone calls and product demos.
Email templates and layouts.
Slide decks for sales presentations.
The Prospecting Plan
Put together a plan for how you will identify and reach out to potential prospects for your product. To achieve this you need to start with defining your ideal customer and then start collating lists of these individuals and companies to target. It is important to start with a very detailed customer profile so that you are targeting the best customers for your product early on.
If your customer’s profile is not producing converting leads then go back test your assumptions and adjust the profile to a different target group.
A solid go-to-market strategy is crucial if you want to successfully scale. Going through this process is a tried method of achieving market penetration. If however you find your strategy is not giving you the results you need, then go back, adjust the strategy and try again. Iteration and refinement are your friends.