Presenting a project to investors is no easy task. Investing depends on many factors, some of which have nothing to do with your own project and you as an entrepreneur. Your responsibility is to calculate and prepare all the key material so that others understand the potential of your project and have enough interest in it to invest in it.
Potential venture capitalists will evaluate your Go to Market (GTM) strategy. In fact, this strategy is one of the main slides that should be on your Pitch Deck.
Positioning yourself from a consumer perspective will help you understand the best way for a startup to go to market. This involves thinking about what consumers are looking for and what problems they need to solve to determine how your product or service will help them in this regard.
This is how your Go to Market strategy begins, and we tell you how and why it will help your startup succeed.
What is Go To Market?
The Go To Market (GTM) strategy is the intention with which the company addresses a potential market, determining the route to follow: processing, transport, distribution points, points of sale and finally when it reaches the shopper or buyer. It is a very powerful commercial strategy.
It seeks to guarantee success and ensure that the right strategy or path is chosen in each case. Trying to sell with an Inbound Marketing strategy is not the same as using email marketing campaigns or Growth Hacking; they all seek the same thing, to sell, but they do not use the same tools or strategies, so it is essential to have an action plan for each one, that is the Go to Market.
Do I need a Go To Market strategy?
Many startups don't make it past their first year. That's why having a go-to-market plan avoids many of the pitfalls that come with all new product launches.
Even if a product is well designed and innovative, product oversaturation in the market can slow down launches. While the strategy does not completely avoid failure, Go To Market can help you keep expectations high and solve any problems before investing in bringing your product to market.
What are the components of a Go To Market strategy?
There are four basic parts to a Go to Market strategy. Here are some questions to answer for each section:
Product-market fit: What problems does your product solve?
Target audience: Who has encountered the problem your product solves? How much are they willing to pay for a solution? What pain points can you alleviate?
Competition and demand: Who already offers the product you are launching? Is there demand for the product or is the market oversaturated?
Distribution: How will you sell the product or service: website, app or external reseller?
Essential objectives of a Go To Market strategy
The key objective, and indeed the objective of any start-up, is to improve business performance. But how do you do that? how do you achieve this? By aligning the company's commercial and business strategy with the (changing and unexpected) needs of customers.
One of the most common mistakes when executing a product launch strategy is to have something that customers needed and were looking for a long time ago (even if recently), the Go To Market programme must continue to study their needs and understand the past by analysing market trends and forecasts and what they may have.
Marketing strategy is critical to achieving better results through new product launches, and it is a very powerful tool.
In the end, a well-executed strategy will strengthen the value of your brand in the minds of consumers and put you in a better position than the competition.