Your Go-to-Market Strategy
The go-to-market strategy is how your business will engage with a set of customers they want to serve in order to deliver growth and profits. It contains all of the work that a marketing unit must do to generate growth and profits.
To capture profits, businesses must
- Internalize good business practices
- Build organizational capacity and capability that align with the market demands
- Utilize customer and market learnings to drive strategic decision-making
This starts with business strategy. An effective go-to-market strategy must be aligned with and driven by a well-articulated business strategy. Before you do a deep dive into marketing strategy, your business strategy has to be well-defined and understood throughout your organization. After you have developed your business strategy, you must figure out what your business model is. Is your business operational excellence-focused, product/technology-focused, or customer intimacy-focused? Lastly, you must build your value proposition—or fine-tune it, if it is already built.