Go-to-Market Strategy Template

Introduction

Here at xGrowth, we extensively discuss Account-Based Marketing (ABM) and Account-Based Experience. In addition to these two, we are seeing unprecedented changes in the B2B technology space. These changes have been moving so fast in the last couple of years that marketers and companies have had to launch new products and expand into different geographies to drive growth.

This is where the role of an overall Go-to-Market strategy becomes highly prominent.

We have previously released resources that discuss a B2B go-to-market strategy and how it differs from a marketing strategy (marketing strategy vs. go-to-market strategy).

This article and the template shared in it are the next additions to the series.

 

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What is the xGrowth's Go-to-Market Strategy Template?

The process of a new product launch or a geographical expansion can be overwhelming. A Go-to-Market Strategy Template helps you put all the pieces together. It's like a roadmap for introducing your product to the world.

The template in this article will help you determine who will want to buy your product (your target market) and how to tell them about it (your marketing strategy).

It will also help you organise your thoughts and document your own strategy, in a structured manner so that you don't accidentally miss anything.

Why do you Need a Go-to-Market Strategy Template? 

Think of this Go-to-Market Strategy Template as your secret weapon.

It helps you plan how to make your product a hit with your future customers (your target audience). Without it, you might miss out on reaching the right people or not know how to convince them that your product is what they need.

It also helps your marketing team and sales team work better, ensuring everyone knows the plan to win over potential customers.

When to use the Go-to-Market Strategy Template?

You should grab our Go-to-Market Strategy Template:

• When you've got a new product ready to show off.
• If you want to start selling in a place you haven't before (a new market).
• When things change, like if there are new trends or if you want to sell your product in a new way.

How to use the Go-to-Market Strategy Template?

Alright, now that we have answered the what, why, and when, let's focus on how to use this template. Our GTM strategy template has nine sections or components. These are as follows:

• Business Goals
• Ideal Customer Profile
• Buyer Journey
• Competitive Analysis
• Go-to-Market Messaging
• Marketing & Sales Channels
• Launch Activities
• Pricing Strategy
• Go-to-Market Plan Performance Metrics
• Product Roadmap

Based on your need you may use all of the components or some of them.

Remember, these components have been developed from our experience over the last several years. While keeping in mind all of them would be helpful, you don't have to use all of them.

We have described what every section is and what you should be thinking about when you are drafting your content under every section.

Throughout the article, you will also read about a hypothetical company, TurferSEO and how TurferSEO is developing its GTM strategy using this template. 

TurferSEO is launching AI content generation capabilities in its existing tool, which is used by large B2B companies for content creation and SEO optimisation.

So, without further ado, let's dive into the template and its components.

Components of the Go-to-Market Strategy Template

Business Goals

Setting clear business goals is the foundation of a successful go-to-market strategy. 

It involves defining what your company aims to achieve by introducing its product or service in the market. Whether it’s increasing market share, achieving a particular revenue number, or acquiring new customers, your business goals will guide every other aspect of your go-to-market strategy. 

Aligning these goals with your overall organisation strategy is also essential. This ensures that every department, from marketing to sales, product development, and customer service, is working towards the same objectives. This alignment helps prioritise resources, make informed decisions, and set realistic stakeholder expectations. 

Additionally, revisiting and adjusting these goals based on market feedback and performance metrics is crucial for staying relevant and maintaining a competitive advantage in a dynamic market environment.

Our hypothetical company, TurferSEO, which is launching new AI-powered writing features, has the following business goals.

 

 

Ideal Customer Profile (Target Customers/Accounts)

An Ideal customer profile outlines the characteristics of the company or individual most likely to benefit from and purchase your product or service. 

Demographic details, geographic location, psychographic traits, and pain points that your offering addresses can be factors that can help you decide on and etch out an ICP. 

Another important note about developing an ICP is that it should be made considering the opinions of stakeholders from different parts of the business, i.e. sales, marketing, product and customer success. 

Understanding your ICP allows you to tailor your messaging, choose the most appropriate marketing and sales channels, and develop product features that meet customer needs. 

It also helps save resources from being deployed on prospects that are unlikely to convert, thereby increasing the efficiency of your marketing efforts. 

Creating detailed personas for your ICP involves researching your current customer base, analysing market trends, and possibly conducting surveys or interviews internally and externally, as mentioned above. 

This deep understanding of your ideal customers and target audience ensures that every element of your go-to-market strategy and go-to-market plan resonates with the people you aim to reach.

Here's what the GTM team at TurferSEO finalised for their ICP.

You may notice that TurferSEO’s ICP aligns with its business goals of increasing market share, revenue growth, and client acquisition by providing targeted solutions to the specific needs and pain points of $500M+ enterprises.

 

Buyer Journey Identification

Identifying the buyer's journey is about understanding the process your ideal customers go through, from becoming aware of a problem to considering and deciding on your solution. 

This section should map out the buyer journey's awareness, consideration, and decision stages, highlighting the key touchpoints, motivations, and concerns at each phase. 

Tailoring your marketing and sales efforts to address specific needs and behaviours ensures a smoother transition for prospects through the funnel. 

For example, content marketing can be used to educate and build awareness, while targeted offers and demonstrations can help in the consideration phase. 

Understanding this journey creates a more personalised and practical buying experience, leading to higher conversion rates.

After cementing their goals and the ICP, TurferSEO's GTM team looked at the steps their target audience and prospects would go through before they became customers.

Based on each step, they devised some potential actions that could be part of their GTM strategy.

 

Conducting Competitive Analysis and Market Research

Conducting a thorough competitive analysis involves identifying your direct and indirect competitors.

It involves understanding their strengths, weaknesses, market positioning, and strategies. 

This research can help you determine areas where your business can stand out, as well as highlight potential competitive risks.

By examining your competitors' offerings, pricing strategies, marketing techniques, and customer feedback, you can gain valuable insights into what is effective in your industry and what is not.

This section should highlight your competitors and explain how your product or service provides a unique value proposition. 

Sonia, who leads the GTM team at TurferSEO worked with a third-party consulting firm to come up with the below table. It provides visibility into what Turfer’s competitors are doing in the market.

 

Go-To-Market Messaging

Crafting effective messaging involves articulating the unique value proposition of your product or service in a manner that profoundly resonates with your target audience.

This requires weaving together a clear and compelling narrative that directly addresses your customers' and prospects' pain points, desires, and aspirations.

Defining your core messages is essential within this framework. These encompass your value proposition, brand promise, and the key benefits that your offering offers.

These messages should succinctly communicate why your product or service is the optimal choice for your customers.

Developing a consistent and impactful messaging strategy necessitates a solid insight into your ideal customer profile and the competitive landscape.

By leveraging this insight, you can tailor your messaging to effectively differentiate your offering from competitors and capture the attention of your target audience.

It's crucial to ensure that your messaging strategy permeates all your marketing materials, from your website and social media platforms to sales pitches and advertising campaigns.

This cohesive approach ensures that your target audience comprehends the compelling reasons to choose your product or service over alternatives, ultimately driving engagement and conversions.

Going back to our friendly neighbourhood company, TruferSEO, based on all the competitive intelligence, information about their target audience, and their business goals, the GTM strategy team has come up with the following messaging.

 

Marketing & Sales Channels

Selecting the right marketing, sales and distribution channels is crucial for effectively reaching your ideal customers and target audience.

This involves deciding how to communicate your message and deliver the message about your product or service.

Various options are available, such as SEO, social media campaigns, email marketing, direct mail, and traditional channels such as television, radio, and print. Additionally, direct sales, partnerships, and distribution networks are also viable marketing channels to consider.

Choosing the best channels depends on where your target audience spends their time, your business model, and the nature of your offering. 

Each channel has its strengths and costs, so the goal is to find a mix that maximises reach and efficiency while staying within your budget.

It's also essential to align your marketing and sales efforts. This means maintaining a consistent message and providing a seamless experience for customers across all touchpoints.

By coordinating these efforts effectively, you can enhance brand visibility, engagement, sales reps and customer satisfaction.

Our A-Team at TruferSEO has decided on the following channels. They go a step ahead; apart from listing the channel that they would use, they also set specific goals and targets that they want to hit on each channel.

 

Launch Activities

The launch phase is crucial for making a solid first impression in the market.

This section should detail the activities planned for launching your product or service, including pre-launch marketing to build anticipation of launch events or promotions and post-launch follow-up to gather feedback and drive initial sales.

It's also important to outline strategies for maintaining momentum after the launch, such as ongoing marketing campaigns, customer engagement activities, and product updates or enhancements based on user feedback.

Effective launch and post-launch activities help attract early adopters and establish a solid foundation for long-term growth.

TurferSEO’s marketing operations team creates the following timeline of activities to ensure the success of their go-to-market plan.

 

Pricing Strategy

Setting the right pricing strategy is essential for balancing revenue goals with market demand.

This section should explore the pricing model(s) chosen for your product or service, including any tiered pricing, subscription models, or discounts. 

The strategy should consider the value your offering provides, competitive pricing, and your target market's price sensitivity.

Assessing how pricing will impact customer acquisition, retention, and overall profitability is also essential.

Regularly reviewing and adjusting your pricing based on your market research, feedback, and business performance ensures that your offering remains competitive and appealing to your target audience.

Here’s TurferSEO’s pricing strategy.

 

Go-to-Market Plan Performance Metrics

Defining and tracking performance metrics is key to measuring the success of your go-to-market strategy and making informed decisions.

This section should identify the key performance indicators (KPIs) that will be used to assess the effectiveness of your marketing and sales efforts, product adoption, customer satisfaction, and financial performance.

Common KPIs include sales revenue, customer acquisition cost, conversion rates and churn rate.

Establishing a system for regularly monitoring these metrics allows for timely adjustments to your strategy, optimising your approach for better results.

Let’s look at the performance metrics Turfer’s team is using. Remember, these should directly tie back to business goals.

 

Product Roadmap (Optional)

The product roadmap outlines your product or service's future direction and development.

It includes planned features, enhancements, and any significant changes required to meet customer needs and stay ahead of the competition.

This section should detail the product's short-term and long-term goals, including implementation timelines and how these developments align with your overall business strategy.

A clear and flexible product roadmap is essential for communicating vision and progress to stakeholders, guiding the work of development teams, and ensuring that your offering continues to evolve in response to market demands.

 

With this last section on the product roadmap, we have now finished the templates and key components.

Real-World Go-to-Market Strategy Examples

This section provides you with some real-world Go-to-Market Strategy examples. These examples will illustrate various GTM strategies in action. The hope is that examining how companies have successfully implemented these approaches will give you valuable insights to inform your product launches and market expansion. They will also further help you internalise how you can use xGrowth's Go-to-Market Strategy Template.

Example 1: Slack's Freemium Product-Led GTM Strategy

 

Situation

When Slack launched in 2013, the team collaboration software market was already crowded with established players like Microsoft, Google, and Cisco. To break through the noise, Slack needed a strategy that would quickly differentiate them and fuel rapid adoption.

Tactics

Target Market Definition: Slack zeroed in on tech-savvy teams within SMBs, understanding that these users were likely frustrated with the disjointed collaboration tools available at the time.

Value Proposition: They offered a solution that promised to streamline team communication, replacing scattered email chains and unproductive meetings with a centralised, searchable platform.

Competitive Analysis: Slack's market research likely dissected existing tools, pinpointing weaknesses such as clunky interfaces, poor integrations, and an over-reliance on meetings as the primary mode of collaboration.

Messaging and Positioning: Their messaging highlighted core benefits like "ease of use," the potential for viral adoption within teams, and the time-saving advantages of moving away from meeting-centric workflows.

Channel Strategy: Word-of-mouth became Slack's primary growth engine, powered by delivering a truly exceptional product experience. Alongside this, they deployed a mix of content marketing channels (their blog), targeted early-stage ads, and a strong focus on integrations through their API to expand their reach.

Pricing and Packaging: A generous free tier formed the foundation of their pricing model. Teams could seamlessly upgrade to paid plans as they grew and needed additional features or administrative controls.

Sales Enablement: In this product-led model, the sales team likely focused on converting larger, more complex accounts while the product itself handled individual user acquisition.

Demand Generation: Valuable blog content, community-building efforts, and a frictionless signup process drove a steady stream of new leads and a sales funnel that fueled organic growth.

Customer Onboarding: An intuitive interface and emphasis on making the initial experience as smooth as possible were crucial for product-led onboarding success, minimising the need for heavy sales involvement.

Metrics and Measurement: Slack meticulously tracked metrics like daily active users (DAU), free-to-paid conversion rates, and how usage expanded within organisations to quantify their viral growth.

Why It Worked

The freemium business model almost perfectly mirrored the natural way teams adopt collaboration tools. Individual users or small groups could try Slack, realise its value, and then champion it within their organisations. Focusing relentlessly on user experience further eased adoption, and the clear upgrade path ensured seamless monetisation as usage grew.

Results

Rapid User Growth: Slack achieved staggering growth, reaching over 8 million daily active users and 3 million paid users by 2019.

Huge Acquisition: Their success culminated in the landmark acquisition by Salesforce for $27.7 billion, further validating their disruptive GTM strategy.

Example 2: Fraud Prevention Technology Provider (Account-Based Marketing in APAC)

This second example comes from one of our Account-Based Marketing success stories here at xGrowth.

Situation

A fraud prevention technology company sought to expand into the Asia-Pacific (APAC) market by targeting large financial institutions. With limited experience in the region and a niche solution, they needed a way to engage key decision-makers at their target accounts.

Tactics and Reasoning

Focus on High-Value Accounts: The company embraced an account-based marketing (ABM) approach to focus on a carefully selected list of high-potential financial institutions.

Themed Campaign for Resonance: They developed a compelling messaging theme centred on being the "eyes and ears" to protect against fraud, resonating with their audience's key pain points.

Multi-Channel Orchestration: The campaign employed direct mail, targeted ads, social selling, and email for comprehensive coverage and maximum engagement.

Unique Direct Mailer: A memorable drone-themed mailer reinforced their campaign message and highlighted their innovative approach.

Execution

Data-Driven Account Selection: Careful research and profiling led to identifying the 56 target accounts most likely to benefit from their solution.

Personalised Content: Assets and outreach were tailored to address the specific challenges and regulatory landscapes within the APAC financial sector.

Coordination Across Channels: Marketing efforts were carefully timed and aligned to ensure a cohesive experience for target customers and prospects.

Results

Opened Doors to High-Value Targets: Out of 56 targeted accounts, the campaign successfully initiated conversations with 14 (a 25% success rate).

Strong Pipeline Contribution: The ABM initiative generated qualified leads and contributed significantly to the company's sales pipeline in the APAC region.

Internal ABM Adoption: The positive results demonstrated the value of ABM for the company, paving the way for its continued use.

Example 3: HubSpot's Inbound Marketing GTM Strategy

 

 

Situation

HubSpot entered the market in 2006, focusing on helping small and medium businesses with their marketing and customer retention too. However, the market was crowded with many established players, so HubSpot needed a way to stand out and attract customers.

Tactics and Execution

HubSpot pioneered the concept of "inbound marketing" and made this the centrepiece of their go-to-market strategy. The idea was to attract potential customers by providing valuable content and resources rather than interrupting them with traditional "outbound" advertising.

HubSpot executed this strategy by investing heavily in content creation. They started a blog and published detailed guides, ebooks, and webinars on topics related to marketing, sales, and customer service. They also created free tools like Website Grader that provided instant value.

To amplify the reach of their content, HubSpot focused on search engine optimisation (SEO). They targeted long-tail keywords and built a vast library of backlinks. They also promoted content across various social media platforms and through co-marketing partnerships.

Importantly, all of HubSpot's content included calls-to-action to try their free or low-cost offerings, like a free CRM. This provided a natural path for content consumers to become customers.

Why It Worked

The inbound marketing approach was the perfect fit for HubSpot's target market of small and medium businesses. These customers are often looking to educate themselves and are drawn to vendors that provide helpful resources.

By becoming the go-to resource for marketing, sales, and service knowledge, HubSpot was able to build trust and credibility with potential buyers. The focus on SEO ensured a steady stream of inbound traffic. Providing free tools and trials allowed HubSpot to capture leads and demonstrate the value of their paid offerings, making the eventual sale much easier.

Results

HubSpot's inbound marketing strategy fueled rapid growth. The company reached $100 million in annual recurring revenue by 2012, just six years after its launch. It went public in 2014 and today has over 100,000 customers across more than 120 countries.

HubSpot's success with inbound marketing was so significant that they began teaching the methodology to others.

Their annual INBOUND conference attracts tens of thousands of attendees, and they offer certifications in inbound marketing, sales, and service.

Example 4: Intel's Channel Partner GTM Strategy

 

Situation

As the world's largest semiconductor chip maker, Intel needs to sell a massive volume of chips to maintain growth and market share. However, selling existing product directly to every end customer would be impossible, given the diversity of use cases for Intel's chips. Intel needs partners to help bring their products to market.

Tactics and Execution

Intel uses a channel partner go-to-market sales strategy now, working with a network of distributors, resellers, retailers, and OEMs to sell their products. These partners include companies like Dell, HP, and Lenovo that incorporate Intel chips into their own products.

Intel provides extensive training and support to enable its partners. It has a robust partner program with different tiers based on sales volume and capabilities. Higher-tier partners get access to more resources, co-marketing funds, and higher discounts.

Intel also invests in joint marketing and demand generation with partners. It provides partners with Intel-branded content and collateral to use in their own marketing and collaborates on product launches and promotions.

Importantly, Intel provides its partners with sales and technical training to ensure they can effectively sell and support Intel-based products. It also offers certifications for sales reps and technical roles.

Why It Works

The channel partner approach allows Intel to leverage the reach and relationships of their partners to sell into a wide variety of markets and geographies. Intel can drive significant sales volume by enabling partners to succeed without building a massive direct sales force.

The tiered partner program incentivises partners to invest in selling Intel products. The training and certification programs ensure partners are well-equipped to sell and support Intel-based solutions.

Joint marketing and demand generation help drive end-customer demand for Intel products, benefiting both Intel and their partners.

Results

Intel's channel partner strategy has been hugely successful. The company has maintained a dominant market share in the semiconductor industry for decades, with a 15.6% share as of 2021.

Intel's partner ecosystem is massive, with over 150,000 companies in their partner program. This vast network allows Intel to sell into every industry and geography where computing power is needed.

Example 5: xGrowth's Singapore-Focused Campaign for a Low-Code Development Platform Company

Situation

Prior Account-Based Marketing Success: The company, already a unicorn with proven technology, had positive results from a previous xGrowth-led ABM campaign in the ANZ region.

Market Expansion Goals: They sought to replicate their success and enter the Singapore market with a focus on the financial sector.

Tactics and Reasoning

Focused Targeting: The campaign zeroed in on software development and engineering teams within Singapore's financial sector, aligning existing market with the platform's value proposition.

Themed Campaign for Differentiation: "Shine above the rest in your industry" resonated with the target audience's desire to stand out in a competitive landscape.

Multi-Channel Approach: A mix of email, calls, ads (targeted and IP-based), and LinkedIn social selling ensured maximum reach and engagement.

Unique Creative: The personalised star-naming concept and themed package aimed to be memorable and highlight the innovative potential of the platform.

Video Content: Multimedia assets further enhanced engagement with key decision-makers.

Why It Worked

Building on Past Success: The company's prior ABM experience streamlined the process and increased their understanding and confidence in the buyer-customer journey and strategy.

Market-Specific Messaging: The campaign's theme addressed the competitive nature of the Singapore financial tech space.

Attention-Grabbing Outreach: The creative, personalised approach cut through the noise and left a lasting impression.

Multimedia Engagement: Videos provided a more dynamic and persuasive way to communicate the platform's benefits.

Results

New Opportunities: The campaign opened doors to three of the seven targeted accounts within three months.

Positive Client Feedback: The sales team and leadership were satisfied with the results, demonstrating the campaign's effectiveness.

Final Thoughts

Go-to-market strategies are no cakewalk. They involve multiple stakeholders and months of planning, and there is very little room for error. We hope this GTM strategy template provides you with the ammunition to bring everyone on the same page, drive standardisation, and execute your strategy with perfection!

If you need help or want to speak to one of our GTM experts, contact us below!

 

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