If a product is good, it will sell itself. Many companies take this approach when launching a new product, rebranding a product, or approaching a new market. Unfortunately, in today’s cluttered and crowded market, good – even great – products can sink without a data-driven Go To Market (GTM) strategy.
Crafting an effective, data-driven GTM strategy can make or break your chances of success. It can boost brand recognition, increase revenue, improve customer relationships, and give companies that coveted competitive advantage.
A typical GTM strategy will cover a variety of components, including market definition, an outline of the customer, distribution model, messaging that covers a product’s value proposition, an identification of competitors in the field, and pricing strategies.
This is where data makes a difference; it can take a GTM strategy from ordinary to extraordinary. GTM strategies, very often, are intuition-based. Founders opt to go with a gut feeling or …