Go-To-Market FAQ
Uncover the essentials about Go-To-Market in our comprehensive FAQ section. From understanding its core components to discerning its significance across different business stages, delve into all aspects of GTM to accelerate your business growth.
Whether you're a startup founder, a seasoned business leader, or someone carving a niche in sales or marketing, our GTM FAQ is here for you.
The FAQ section answers the most common questions about GTM and explains how it interrelates with sales, marketing, and overall business strategy.
What is a Go-To-Market (GTM)?
A Go-To-Market is the combined actions of how you sell your products or services to customers. It outlines various strategies, tactics and activities to engage your target audience, drive conversions, and meet business objectives.
What is Sales-Led Go-To-Market?
Sales-led GTM is commonly adopted by B2B enterprises offering complex or high-value items. It usually entails a consultative sales process concentrating on developing relationships, comprehending customers' requirements, and providing tailor-made solutions. This strategy aims to engage with decision-makers, encompass lengthy sales cycles, and focus on meaningful interactions to secure transactions.
Ilkka - Club President
Read more about sales-led GTM.
What is Product-Led GTM or Product-led Growth?
Product-led Go-To-Market, commonly known as Product-led Growth (PLG), revolves around the product driving customer acquisition, business growth, and retention. This strategy leverages the product's value and usability to naturally attract, engage, and retain users, bypassing traditional sales tactics. With PLG, an intuitive user experience and the product's inherent features encourage users to transition from free or basic versions to advanced, paid options.
What is Marketing-Led GTM?
Marketing-led Go-To-Market is a term that has not been defined as well as sales-led and product-led GTMs have been. Most commonly, marketing-led GTM or marketing-led growth refers to sales-led GTM with a strong emphasis on inbound marketing, meaning that the marketing team generates a notable number of leads for the sales team to work with.
Whether a company embraces an inbound sales model, grows with outbound sales, or works in a hybrid model, it is a selection that comes after making the strategic decision between sales-led GTM and product-led growth. After all, sales-led GTM is not for everybody.
Ilkka - Club President
How do you decide if sales-led GTM is for you?
What embodies a GTM strategy?
A GTM strategy outlines the steps and methods to reach your target customers. It details target markets, value propositions, sales and marketing activities, distribution channels, pricing, and post-sales support.
When is a GTM strategy relevant to me or my company?
A GTM strategy is relevant when launching a new product, entering a new market segment, or aiming to grow or change your market presence. Essentially, it’s crucial whenever you're looking at how to reach and serve customers.
Is GTM tailored only for startups?
GTM is essential for all businesses regardless of size or stage. Startups often use it to launch, while established companies use GTM strategies to introduce new products, expand, or revamp offerings.
Ilkka - Club President
Our blog includes a dozen winning GTM examples.
Why is the GTM discourse crucial?
GTM ensures that companies reach their target audience with suitable offerings. Discussing GTM helps align product, sales, and marketing efforts, aiding in optimal market penetration and growth.
Can I carve a career role in GTM?
Absolutely. While a "GTM Specialist" or similar title may not be typical, many roles in marketing, sales, product management, and business strategy significantly overlap with GTM aspects. That said, GTM-related headlines have started appearing more frequently on LinkedIn recently.
What are the factors of a good GTM strategy?
Key components include defining target customer segments, crafting a unique value proposition, choosing optimal distribution channels, setting pricing strategies, planning promotional and marketing activities, and detailing how you engage with and win over prospective customers.
How does GTM stand apart from sales?
GTM covers a broader strategy that includes sales, marketing, distribution, pricing, and more. Sales is more tactical, focusing on converting leads or prospects into customers.
How does GTM diverge from business or marketing strategies?
Business strategy outlines the overall company direction, marketing strategy focuses on promoting products, while GTM details how a product or service will be sold and delivered to customers.
How does GTM align with product-market fit?
GTM strategies aim to achieve product-market fit by ensuring offerings meet the needs of a specific market segment. A successful GTM often indicates a solid product-market fit.
Who orchestrates and executes a GTM strategy within an organisation?
It's a cross-functional effort involving teams from marketing, sales, product management, customer support, and sometimes finance and operations, ensuring a comprehensive strategy.
How frequently should a GTM strategy be revisited or revamped?
It is a good idea to review and update your GTM strategy whenever there are significant changes in the market, competitive landscape, or product/service offerings.
Ilkka - Club President
Surprises and crises do happen. During such an event, the GTM strategy should be evaluated.
Can GTM strategies be industry or geography-specific?
Yes, definitely. Industry nuances or specific geographical factors like cultural, economic, and regulatory environments can significantly influence how a product or service is marketed and sold, and the impact may even extend to the point at which products, features, and services are made available.
How is the success of a GTM strategy gauged?
Success metrics include sales growth, market share gains, customer acquisition and retention rates, profitability of new products/services, and brand awareness levels.
What hurdles might surface while deploying a GTM strategy?
Common challenges include team misalignment, insufficient market research, underestimating competitors, unclear value propositions, and failing to iterate based on feedback and results.