What Are Go-To-Market Goals?
With immense competition, tight deadlines, and limited resources, every team needs a guide to stay on the right path.
A go-to-market strategy supports teams when they refresh their brand, launch a new product, or acquire a new audience. It helps create a personalized solution for any market, product, or audience issue.
What is a go-to-market strategy?
A go-to-market strategy is a step-by-step plan that brings a product to market. It includes business planning, market research, competitor benchmarking, product testing, sales, and marketing for a specific target audience.
Creating a successful strategy requires the correct blend of multiple approaches. Teams can have several marketing strategies, goals, products, and audiences. They need to create the right combination that attracts, engages, and retains the target audience.
That’s why every company should have go-to-market goals that work for their unique needs and situations, such as:
- New product or service launch
- Introduction of an existing product to a new geographical region or audience
- Relaunch of a brand or company
What are the key elements of go-to-market goals?
Go-to-market goals are specific objectives that companies plan to accomplish in a predetermined timeline and budget. Here are the five key elements of go-to-market goals:
- Outline the market in which the product or service will be offered
- Define the demographics of your target audience
- Clarify the distribution of your product or service and how it will reach the customer
- Determine the ideal price for specific customer groups
- Uniquely position the product or service in the market, so it is distinct from competitors
What is the purpose of creating go-to-market goals?
Go-to-market goals are established to help companies achieve certain benefits, such as:
- Clarity of organizational direction and future action plan for all stakeholders
- Lessening the time to market for services and products
- Improving the possibilities of a successful service or product launch
- Keeping costs low by reducing chances of a product launch failure
- Enhancing the companies’ response time to customer preferences, market changes, and potential risks/challenges
- Focusing on creating a robust customer experience
When companies have a fair understanding of the target audience and market environment, they can create effective go-to-market KPIs and goals.
Achieve your go-to-market goals with Wrike
Managing a product launch need not be a do-or-die situation. Teams prioritizing go-to-market goals for a new product or service launch need to collaborate and communicate seamlessly.
By taking the time to create a robust go-to-market strategy, teams can deliver successful product launches and gain a strong competitive edge in the market.
Get a free Wrike trial to track project progress, break down work into smaller GTM chunks, and execute your planned marketing initiatives successfully.