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Increasing reach through distribution strategies
Go-to Market (GTM) strategies are ubiquitously utilized within business leadership and planning to refer to various strategic initiatives. These initiatives can be cross-functional and organization-wide or specific to a specific marketing idea. They all seek to answer the question: “how do we go to market?” – which in turn is seeking to answer several other questions related to costs, ROI, perceptions, opportunities, risks, mitigations and the alternative.
Some common GTM strategies discussed throughout various levels of any organization include the following:
- New Market Entry: Typically considered management level or (to a lesser extent) marketing strategic initiatives, these kinds of go-to market strategies look at which new market segments can the company go after to help it grow top-line revenue.
- Geographic Expansion / Globalization: Another management-level or marketing led strategic initiative looks at growth through new geographic markets. Many times, for US-based firms this could either be expansion into European markets or Asia. The decision on which one to pursue depends on several factors.
- Up-selling / Cross-selling: These strategic initiatives are more focused on marketing and sales. Marketers may seek to bundle solutions in such a way as to allow current customers to buy more, higher cost products or to sell that same customer another offering from the portfolio.
- Digital Engagement / Marketing Automation: Digital engagement is less of a global strategy and more of a tool on how best to target customers more effectively. These tactics can become complex as organizations identify all the locations they can target their customers and then align a strategic initiative that maximizes exposure to those prospects.
- Channel Strategies: Another GTM strategy, which relies on diversifying channels to customers by utilizing third-party or websites to obtain the appropriate reach needed to grow a business.
For any of these GTM strategies, one thing that is crucial to the success is the “commercial activation” that needs to occur to ensure success. Most organizations define a plan, identify how they are going to get there but then struggle to identify a project plan that will allow them to get there. This is where activation comes in.
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Commercial launch playbook
