A company's go-to-market (GTM) strategy describes how it will offer its goods and services. It describes a company's target market, positioning, and revenue channels.
GTM involves identifying the target market, understanding consumer needs, defining the value proposition and marketing message, and selecting distribution channels. It also consists of creating the sales process, pricing strategy, and KPIs to gauge strategy success.
GTM strategies vary by product and market. Common types:
1) Product-led GTM: Using the product to drive growth.
2) Channel-Led GTM: Emphasizing distribution channels.
3) Market-Led GTM: Tailoring products and services to the target market.
A good GTM plan can help a company penetrate new markets, boost sales, and acquire an edge. As the market, customers, and company offer change, it should be examined and updated.