Everybody is always excited about new product. There’s all the insight that comes with customer discovery. There’s the thrill of the idea validation phase. There’s the surprising feedback that come with solution design validation. There are the great discussions around business model.
But too often over-looked in innovation journey to market is the go-to-market phase. And when it isn’t overlooked it’s often done too late. In having been involved in many new product launches, we now insist on our clients looking at the go to market phase as early as possible. The reason for that is that while all the lovey wires and feedback is validating that we can create value, GTM is really where the entire team need to come together to actually deliver value to the customer.
The Go-To-Market Design Phase: What Is It?
The go-to-market (GTM) design phase is, essentially, the strategic blueprint or roadmap that guides how a new digital product will be introduced and sold to the market. It’s about designing and planning for everything from identifying the target audience, crafting key messages, choosing the right channels, to setting the pricing strategies.
But it’s more than just marketing. The GTM design phase aligns all stakeholders – product development, sales, customer success, and marketing teams – around a common understanding of the product value proposition, customer journey, and market dynamics. This alignment fuels a coherent and effective product launch and market penetration.
The Value & Impact of GTM Design
You might be thinking, “That sounds great, but why invest precious time and resources into this phase?” Here’s why:
Increased Market Understanding: An effective GTM strategy requires thorough research into your market, competition, and customer personas. This knowledge is invaluable for aligning your product with actual market needs and demands.
Better Internal Alignment: When all teams understand the product’s unique selling points and market positioning, they work harmoniously towards the common goal – product success!
Higher Customer Adoption: A thoughtful GTM strategy means the product is positioned and promoted in a way that resonates with potential customers. This boosts product adoption and customer loyalty.
Can I skip the GTM Design Phase?
In short, no! Missing the GTM phase is like setting sail without a compass. You might still move, but there’s a very significant risk you’ll be off course. And small errors in direction at the start can lead massive misses later.
Without a shared understanding of the product and its positioning, internal teams may not effectively collaborate, resulting in missed opportunities and inefficiencies.
And if the product is not aligned with the market’s needs, it may fail to resonate with potential customers, leading to low adoption and engagement rates.
Tips for a Successful GTM Design
From our experience, there are a number of practical steps for a successful GTM design phase.
Involve All Stakeholders Early: Bring everyone to the table from the start. This includes product developers, marketers, salespeople, customer success representatives, and even a few key customers. Their input will lead to a more comprehensive and effective GTM strategy.
Adopt a Customer-Centric Approach: Remember, your product is for your customers. Make them the core of your GTM strategy. Understand their needs, pain points, and preferences. This will enable you to position and promote your product in a way that truly resonates with them.
Test and Adjust: As with everything in the world of innovation, testing is vital. Experiment with different messages, channels, and pricing strategies, gather feedback, and adjust accordingly.
In conclusion, the go-to-market design phase is not a luxury, but a necessity for every digital product aiming to make a significant impact in the market. So, roll up your sleeves and dive into designing a GTM strategy that will drive your digital product to success. Remember, innovation isn’t only about creating new products, it’s also about effectively bringing them to the people who need them most.