{"id":2768,"date":"2022-05-13T11:47:02","date_gmt":"2022-05-13T11:47:02","guid":{"rendered":"https:\/\/cloutbrands.com\/?p=2768"},"modified":"2022-05-13T14:56:25","modified_gmt":"2022-05-13T14:56:25","slug":"whats-your-go-to-marketing-strategy","status":"publish","type":"post","link":"https:\/\/cloutbrands.com\/whats-your-go-to-marketing-strategy\/","title":{"rendered":"What’s Your Go-To-Marketing Strategy?"},"content":{"rendered":"\t\t
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Every e-commerce startup and company needs a go-to marketing strategy at least once in their business journey. In short, it is a blueprint of business activities that gets your product to your target audience in the most effective manner. <\/span>But for e-commerce business and their owners, a go-to marketing strategy is more than a handy reference that helps you in launching a product. Any business needs to be aware of the regulation around their products. This becomes even more important want it comes to cannabis marketing laws.<\/a> Do your research.<\/span><\/p>

Here\u2019s an in-depth look at a go-to marketing strategy, its purpose and which type of go-to marketing strategy you apply for your business.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Go To Marketing Strategy \u2013 What Is It?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A go-to marketing strategy, or simply GTM, is an in-depth action plan with a step-by-step guide and an actionable plan on how to successfully launch a new product in the market. GTM strategy outlines a tactical plan by identifying a target audience and the existing competitors in the marketplace and has an outline of the sales strategy.\u00a0<\/span><\/p>

Typically, a GTM strategy is necessary for a new product launch, but it can also be for a new service or sometimes a brand. Go to marketing strategy is similar to a blueprint or a marketing strategy but with a dedicated focus on the new product to be launched.\u00a0<\/span>The core components of a great go-to marketing strategy include:<\/span><\/p>

  1. Identifying the customers: <\/b>Identifying which customers you want to target with your new product is a core component of a GTM.\u00a0<\/span><\/li>
  2. Market definition:<\/b>\u00a0Right after the audience, identifying the specific market to launch\/sell your product is the next core requirement.\u00a0<\/span><\/li>
  3. Product distribution model:<\/b> In what manner will the new product be delivered to the target customer?<\/span><\/li>
  4. The message behind the product:<\/b>\u00a0It covers the unique value of the new product and how different it is compared to others in the market.<\/span><\/li>
  5. Price:<\/b>\u00a0It defines the price at which the product would be sold at the market.\u00a0<\/span><\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Types of Go To Market Strategies<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Go-to-market strategies are of two primary types; product-led strategy and sales-led strategy.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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    Product-led go-to marketing strategy.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    This type of go-to-market strategy relies on the product to provide value and attract new customers\/potential buyers and retain the existing ones. A product-led GTM strategy is driven by customer feedback, behaviour, how the product is used and analytics.\u00a0<\/span><\/p>

    The main advantage of a product-led go-to marketing strategy is that you can get the user-behaviour data, which allows you to change or modify the GTM strategy on the go. This, in turn, helps your company to focus on effective product growth and use the in-product behavioural data to make better decisions. In addition, the customer behavioural data<\/a> can be invaluable in creating meaningful and active engagement with your customers.\u00a0<\/span><\/p>

    Furthermore, companies that use product-led go-to marketing strategies also enjoy the benefits of:<\/span><\/p>