Reach new markets faster with our customized go-to-market action plans.
We help businesses find profitable markets with proven go-to-market techniques and tactics that increase profitability without jeopardizing budget.
What is a go-to-market strategy and why do you need one?
Are you launching a new product? Or looking to try a current product or service in a new market? Entering a new market can come with a few unpleasant surprises that can cost you both time and money. Our consulting partners can help you devise a tactical plan that helps you scale in new markets without sacrificing abundant budget or resources.
We’ll help you find the right markets, figure out the demands of new audiences, and devise a plan to reach those markets and audiences through a step-by-step process. Our consulting advisors will help you get your new offering off the ground and on its way to becoming your next best-selling product.
The go-to-market strategy is a comprehensive plan that enables any business to utilize the best possible resources for a competitive advantage in new markets.
Without a proper go-to-market action plan, you run the risk of:
1. entering an oversaturated market
2. launching an over or under-priced product or service
3. promoting to an audience that is either not ready or has many other options.
In comparison, an extensive go-to-market action plan enables you to:
1. find your unique selling proposition
2. understand the target audience and its needs (so you can improve your product or service)
3. determine competitor strengths and weaknesses
4. enter a market with preparation.
When you are ready for a market, you are less likely to lose money.
Why choose us?
We have over a decade of experience in helping growing businesses find tactical solutions to some of the most complex strategic marketing problems. We don’t sell a standard solution but rather a customized plan according to your unique business needs.
Over the years, our consulting team has helped global clients evolve into multi-million dollar companies using analytics that enable real-time understanding of new markets and potential customers. We use our experience rather than automated systems and AI to generate market analysis, so we can offer you the best possible blueprint for entering a new market. And our job doesn’t end with the blueprint; our consulting partners make sure you start seeing a return on investment and are fully geared to keep generating revenue before we part ways.
Your go-to-market strategy needs to include every little detail that can impact your profitability. We devise your custom go-to plan step-by-step with attention to that little detail.
Step 1: Market analysis
Key question: ‘what does the market look like for your offering?’
Purpose: Finding new markets for your services is easy, but determining whether they’ll offer long-term revenue is the biggest challenge. So at this stage, we do the preliminary investigation into customer needs, market dynamics, competition, and your company’s capabilities to see whether there is a good product-market fit.
Tasks: at this stage, we perform several tasks outlined below.
a. Market research and data analysis
Purpose: We employ predictive modeling to decipher market statistics and reveal key answers to questions like what offerings have done well in the market? What are the current similar offerings in the market? Who are the key competitors? What is the percentage of the overall sales for current similar offerings? What marketing efforts are driving those sales?
Outcome: By the end of market analysis, we have a comprehensive data set for current competitors and their offerings in a market that you are trying to enter. This helps us base important decisions on facts and figures rather than hunches.
b. customer profiling
Purpose: Customer profiling makes it easy to understand your customers and their needs so you can customize your offering for the best possible revenue.
For this step, we:
– create buyer personas and unique value proposition for each persona
– collect customer feedback on similar offerings
– iterate personas based on feedback
– create a customer journey map.
Outcome: By the end of this step, we hone in on who the customers are and whether the current offering is a good fit for them.
Purpose: In this step, we create market segmentation, choose the most likely to be profitable markets and prepare a plan to help you position your offering for the chosen market. We try to answer ‘which markets do we go after and how?’ And for that, we conduct a preliminary screening of the market to shortlist 2-3 segments that are the best fit for your product/offer.
Outcome: By the end of market selection, we hone in on the final segment and evaluate it further for generating demand.
Step 3: Marketing mix
Once we have determined the market and the customers, it’s time for us to help you create a marketing mix for the selected market. All market segments are different and therefore require a unique strategic approach for impactful sales. In this step, we perform several activities to align product, pricing, distribution, and promotion.
At this stage, we create a comprehensive product roadmap, positioning statement, product lifecycle, pricing strategy, product development prioritization and budget, break-even analysis, financial projections, risk analysis, risk assessment, risk mitigation plan, product GAP analysis, product use cases, project management frameworks, product messaging mapping, product launch plan, cost analysis of different distribution channels, and customer engagement plan, to mention a few.
Some of the thorough analysis in this step are listed below.
a. Demand generation analysis
Purpose: Demand generation analysis features a host of intricate strategies that help us determine initial buyer behavior, create product awareness, and position your offering in the buyer’s mind to generate quality leads and future sales. A proper demand generation analysis allows us to acquire new customers and retain the existing ones.
In demand generation analysis, we perform:
– Lead generation
– Demand capture
– Pipeline acceleration
Outcome: After a successful demand generation analysis, we have the blueprint for generating high-quality leads for the offering.
b. Content marketing analysis
Purpose: At this stage, we conduct a thorough content marketing analysis to determine the effectiveness of marketing content in driving quality leads. We look into both audio and visual content on your company’s website and social media channels to determine what’s working and what needs adjustments.
Outcome: By the end of the analysis, we outline what tools, strategies, and further evaluation are necessary to support the overall effect of marketing campaigns.
c. Distribution channel analysis
Every product and service is different and therefore requires a unique strategy for distribution. If you are not careful with how you reach the end-user, you may end up either not reaching the right user or reaching an audience that isn’t ready for your offering. This can not only result in loss of sales but also loss in time and energy spent. Our consulting experts look into the best distribution channels (direct via e-commerce websites or B2B through retailers and wholesalers) to gauge the most profitable distribution strategy.
Outcome: By the end of this analysis, we have a coherent roadmap to choosing the most profitable distribution channels for a specific segment or audience.
Step 4: Customer acquisition
Purpose: Our customer acquisition strategy focuses on helping you build awareness, interest, and commitment in potential customers so they can become long-term buyers. In this step, we conduct two main processes (mentioned below) to help you build a strong customer base.
a. Customer acquisition cost
Customer acquisition cost is the total cost spent on acquiring new customers. We look into how we can reduce this cost for your business by ensuring more leads. Once the marketing channels have been activated, we look into how many customers are acquired through current efforts and how those efforts can be improved to increase the lead rate. Our goal is to spend less on the marketing efforts that would drive customers to your service and earn more.
b. Customer lifetime value matrix
Customer lifetime value measures the total sales generated by a single customer throughout their relationship with your business. Calculating CLTV in relation to CAC (above) helps us identify the most profitable customers and figure out how to continue to retain them. To calculate CLTV, we look into average purchase value, average purchase frequency rate, overall customer value, and average customer lifespan.
Outcome: Customer acquisition strategies enable us to identify the most profitable customers, find ways to retain those customers, and increase the lifetime value for increased revenue.
Are you ready to take your business into a new profitable market? Let us help you through the pitfalls that may hinder your success.