GTM Strategy: What It Is, Who Needs It and How to Build One

A business decides to enter a new market. The team starts discussing a website, social media campaigns, email outreach and hiring a salesperson.

All of these may be needed. But there are a few decisions to make first. Who exactly are we trying to sell to? What do these customers need? Why would they consider us? What should we offer, and how much should we charge?

These questions form the starting point of a Go-to-Market strategy.

What is a GTM strategy?

GTM stands for Go-to-Market. It is the plan a business prepares before entering a new market, expanding into a new geography or launching a product or service.

The purpose is to work out how to reach the right customers, give them a reason to buy and deliver what we promise.

Let’s take a simple example.

Imagine a website development company in India planning to work with hospitality businesses in Australia. This is an illustrative example, but it shows the decisions involved.

The company knows how to build websites. It now needs to understand which businesses to approach.

• Should it focus on independent hotels, resorts or restaurant groups?
• Who makes the decision?
• What would make them consider replacing their existing website?
• It also needs to decide its pricing
• How it will show relevant work and how it will manage communication across time zones.

Working through these questions is part of building its GTM strategy. The plan begins before entering the market and develops as the business learns from customers.

Read More: OffbeatPixels