Effective Go-To- Market Strategies For India
We will assist you starting from planning to launch of new products/services to build an effective Go-to- Market (GTM) plan early on in the launch process, ensure you’re including the right people in the decision-making process, thinking about your customers' end-to-end experience, and engaging in a multi-step discovery process before you lock yourself into decisions that may be difficult and expensive to change later on.
While doing so, we would religiously consider these basic building blocks of a successful GTM plan:
- Business Summary: Presenting a high-level overview of your business plan. At a minimum, the Business Summary should address the core business drivers behind your decision to sell, highlight the key performance indicators you’ll use to measure your success, and identify your primary competitors along with the differentiators you’ll focus on to compete in defined markets..
- Product Strategy: This section of the plan identifies the key products /services you will launch in your cloud portfolio, along with any bundling plans, special promotions, or other attachment strategies that will help you sell the products—including up-selling and cross-selling to both new and existing customers.
- Channel Strategy: This is where you identify the primary channels that you’ll use, both to sell your products and to educate and support your customers, along with the resources, training, and incentives that will drive channel performance.
- Marketing Strategy: This section summarizes the activities you’ll use to drive awareness and generate leads, both in your identified markets and within your existing customer base.
- Customer Experience: This section documents the anticipated customer journey—either at a high level or in detail. Starting with how customers first hear about a product, it progresses through their purchase, activation, renewal, and possible cancellation. Exploring this journey helps to identify any “fall-off” points that may reduce conversion rates, or drive churn, while also helping to ensure that you’ll have the right people and systems in place to support the new products/services.
- Technical Requirements: This section documents the technical requirements needed to support the new products/services. These requirements, which may include branding your customer-facing portals, and integrating sales and provisioning systems with third-party resources you’ve employed. Parallels can help you identify the technical requirements needed to launch your products/services.
- Evaluation: This is where you spell out and prioritize the factors you’ll use to measure your success—for example, reaching a certain volume of sales in specific channels, or reducing churn of an existing product. Try to be as specific and detailed as possible in outlining your goals and evaluation tactics—it will keep your team aligned and help to optimize activities through your launch.
- Timeline and Execution: Finally, the plan needs to identify the timeline for execution, including next steps, the critical path for decisions, key milestones, and plans for reviewing and fine-tuning the GTM plan. This last point should not be overlooked, as good GTM plans are not static, but evolve with the project. As your plans progress, you can add details to increase the plan’s accuracy.
Needless to mention, the advantages of good GTM strategy will help you in:
- Reduce time to market.
- Reduce costs associated with failed product launches.
- Increase ability to adapt to change.
- Manage innovation challenges.
- Ensure effective customer experience.
- Ensure regulatory compliance.
- Ensure a successful product launch.
- Avoid the wrong path.