We develop modern Go-to-Market Strategies based on our own investments and 25 years of expertise
Revvenu uses The Ansoff Matrix which was developed by a mathematician and breaks product market fit into four paths:
Market penetration, where you sell an existing product to an existing market
Market development, where you sell an existing product to a new market
Product development, where you sell a new product to an existing market
Diversification, where you sell a new product to a new market.
Understanding not just the market itself but also how your product relates to it is essential to developing your GTM and guiding the research you do and your messaging later on.
Additionally, it is essential to for your GTM documentation to contain a thorough competitive overview including points of competitive differentiation. These can range from differentiated features to pricing or functionality. Challenging yourself to create a simple answer to the question of “What problems does my product solve” will pay significant dividends in your longer term sales and marketing strategy.
The second element in a successful GTM is market segmentation. The findings from the market research you completed in the market intelligence phase determine who is most likely to purchase your product, solution or service.
The market segmentation phase takes your market research one step further to help you understand who the decision-makers are within that market. Rather than defining your target market as CMOs at mid-sized SaaS companies, use your market research to create buyer personas.
If you’re following the product development path, conduct research on your existing customers so you can best speak to their pain points. If you’re following the market development or market penetration path, survey your current customers about their experience with your product to inform how you frame your value proposition.
Developing buyer personas will enable you to segment your market to target the best-fit customers who have challenges your offer addresses, so instead of simply targeting CMOs at mid-sized SaaS companies, you’re targeting CMOs at mid-sized SaaS companies who are struggling to set up a reporting structure to prove the ROI of their marketing efforts.
The final component of your go-to-market is how you convey your key value proposition. You understand the market you’re entering and who your customers are. Develop your product positioning and messaging strategy to stand out from your competitors and resonate with buyers.
When creating your product messaging ask yourself:
While positioning is often considered a “marketing function,” the most effective GTM strategies build cross-functional alignment on core product messaging long before marketing activates campaigns and sales initiatives, so building positioning into your GTM strategy early will benefit your entire business.
Succeed in the Market and Gain a Sustainable Competitive Advantage
Even superior products fail in the market if they are not targeted and positioned to the right customer at the right price through the most effective communication and distribution channel. This failure can be prevented by an innovative Go-to-market strategy with the right product-market fit and compelling value proposition. However, in today’s competitive environment, marketers need to adopt a data driven approach for developing and implementing Go-to-market strategy.
While developing Go-to-market strategy, we mainly focus on the customer’s current and emerging needs, and client’s capabilities to satisfy those needs. Adopting a data driven approach, we conduct a comprehensive assessment of the client’s capabilities and market -customers, competitors, industry- to discover the meaningful insights. Further, applying our years of experience and functional expertise, we build innovative go-to-market strategies for our clients