What it is
A go-to-market strategy is the plan the marketing team uses to put offerings into the market to reach market penetration, revenue, and profitability expectations.
The kind of plan we use will depend on the offering.
Types of Offerings
Here are the seven kinds of Gravity offerings.
|Offering (product, feature, service, etc.)||Example|
|New product that requires dev work||EmergePay|
|New non-dev product or offering||Gravity Corporate Card|
|New product feature that requires dev work||CAU|
|New feature for a non-dev product||An update to the Gravity Corporate Card|
|Integrated-partner campaign||Bit Marine|
|Compatible software||EmergePay + ECWID|
How product development fits with going to market
First a caveat. If you come up with an idea for a new product or service, it will live or die based on your effort. People will be there to help you (they WANT to help), but ultimately, it’s your baby.
So … whom do you talk to? How do you get your idea vetted and approved? Once it’s underway, who oversees its development? And once you get something built, how do you tell the world about it?
That’s why this guide exists.
Step 1: Start the process with the product development team. There’s a step-by-step process in place to follow. Basically, though, you and the product development manager be thinking through the business model, creating the development plan, reaching out to any affected teams, etc.
Step 2: Give the marketing team a heads-up about the product. While marketing won’t be heavily involved in the project until later, the team will help ensure product-market fit, and encourage you to consider the following questions:
- Who is our audience?
- What problem are we trying to solve for them?
- How are they trying to solve it now?
- What “villain” keeps them from solving it?
- What’s the risk if they don’t solve it?
- Why should they care about our solution?
- What objections do they have to our solution?
- How aware are they of our solution, if at all?
- Is our solution unique?
- What is the competitive landscape like?
- What’s the single most compelling message that must be communicated?
- What other products does this product complement?
- How does this product work?
- What does this product cost?
Step 3: Product development commences!
Step 4: About 4-6 weeks before the product launches, re-engage with the marketing team to initiate the go-to-market sequence. We’ll have a kickoff meeting and put together a strategy get people excited about the offering.
Three types of launches: Major, minor, and partner
We’ll pull from our menu of GTM assets and apply one of three go-to-market strategies, based on the type and size of each project.
We call the three strategy types “major,” “minor,” and “partner.”
- Dev product: “Major” launch
- Non-dev product: “Major” launch
- Dev feature: “Minor” launch
- Non-dev feature: “Minor” launch
- Integrated partner*: Integrated partner GTM process
- Non-integrated partner*: Non-integrated partner GTM process
- Compatible software/products: “Minor” launch
What’s involved in each kind of GTM cmapaign?
|Component/Asset||Major launch||Minor launch||Partner launch|
|Project brief or mini-brief||Yes||Yes||Yes|
|GTM strategy doc||Yes||Yes||Yes|
|Website: Announcement blurb on home page||Yes||No||No|
|Website: Product description on Products/Services page||Yes||No||No|
|Landing page||As needed||No||No|
|BOFU one-sheet||As needed||No||No|
|Announcement in the merchant newsletter||Yes||Yes||No|
|Announcements on weekly sales calls||Yes||Yes||No|
|FAQ doc for CSE team||Yes||Yes (or update existing FAQ)||No|
|Email drip sequence||No||No||Yes|
|Social media posts||TBD||No||No|
|Community/civic group outreach||TBD||No||No|
|Social media ad campaign||TBD||No||No|