Gravity Payments Local Business

Go-to-Market Strategy

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
Non-integrated-partner campaign AVMA
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:

  1. Who is our audience?
  2. What problem are we trying to solve for them?
  3. How are they trying to solve it now?
  4. What “villain” keeps them from solving it?
  5. What’s the risk if they don’t solve it?
  6. Why should they care about our solution?
  7. What objections do they have to our solution?
  8. How aware are they of our solution, if at all?
  9. Is our solution unique?
  10. What is the competitive landscape like?
  11. What’s the single most compelling message that must be communicated?
  12. What other products does this product complement?
  13. How does this product work?
  14. 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.”

Examples:

  • 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
TOFU flyer Yes No No
BOFU one-sheet As needed No No
Rack card No No Yes
Announcement in the merchant newsletter Yes Yes No
Internal announcement 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
Digital ads TBD No No
Drift copy TBD No No
Blog post TBD No No
Social media posts TBD No No
Video TBD No TBD
Webinar TBD No No
Promo offer TBD No No
Influencer campaign TBD No No
Community/civic group outreach TBD No No
Social media ad campaign TBD No No
Other publicity/PR TBD No No
Not sure where to start?

Let us help! We’ll find the right solution for your business.