Go-to-Market Strategy (Part 2) Presentation preview
Title Slide preview
Global Market Trends Slide preview
Global Market Trends Slide preview
Customer Value Map Slide preview
Customer Value Map Slide preview
Product Market Fit Slide preview
Product Positioning Map Slide preview
Value Proposition Map Slide preview
Brand Positioning Slide preview
Unique Selling Proposition Slide preview
Product Mix and Market Share Slide preview
Growth Goals  Slide preview
Revenue Growth Projection Slide preview
Revenue and Profit from New Products Slide preview
Market Expansion Roadmap Slide preview
Existing Competition Slide preview
Target Demographic Slide preview
Soft Launch Timeline Slide preview
First 30 Days Slide preview
GTM Launch Status Slide preview
Customer Implementation Slide preview
Go-to-Market Roadmap Slide preview
Go-to-Market Roadmap Slide preview
Launch Board and Backlog Slide preview
GTM Strategy Overview Slide preview
GTM Kanban Slide preview
Product Market Fit Slide preview
Expansion Lifecycle Slide preview
GTM Framework Slide preview
GTM Validation Procedure Slide preview
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Synopsis

How to introduce a new product to the most promising market? With a solid go to market strategy on deck, make sure the resources and hard work spent on a new product are ultimately worthwhile. Our Go-to-Market Strategy (Part 2) presentation can help align multiple departments to work toward the same goal. It covers the essential components of a GTM plan, and includes tools such as market trends analyses, customer value map, product-market fit, expansion lifecycle, revenue growth projection, plus many more.

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A go-to-market strategy addresses the adoption of international standards in local markets by ensuring the product or service aligns with these standards. This involves understanding the international standards relevant to the product, and ensuring the product meets these standards. Additionally, the strategy would include a plan for communicating this compliance to potential customers in the local market. This could involve marketing and advertising efforts that highlight the product's compliance with international standards.

Cultural influences can significantly affect the acceptance of new products in promising markets. They can determine the consumer's perception of a product, their buying behavior, and ultimately the product's success or failure. For instance, cultural norms and values can influence the consumer's preference for certain product features or styles. Similarly, cultural beliefs and attitudes can affect the consumer's willingness to try new products or switch from existing ones. Therefore, understanding the cultural context of a market is crucial for a successful go-to-market strategy.

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Market trends

The best product leaders and marketers are those who pay attention to the big environment. Think about what happened in the last few years as businesses had to adjust to new purchase behaviors. In many cases, the necessity of online sales eventually became a preference, as businesses and shoppers were mutually benefited. 

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One example of a company that successfully adjusted to the shift towards online sales is Nike. They invested heavily in their online platform and digital marketing strategies, which allowed them to reach a wider audience and increase their sales significantly. They also implemented a direct-to-consumer strategy, reducing their reliance on third-party retailers. This shift towards online sales has proven to be very successful for Nike, as they have seen a significant increase in their online sales over the past few years.

Businesses can employ several alternative strategies to adjust to new purchase behaviors. They can enhance their online presence, invest in e-commerce platforms, and utilize digital marketing strategies. They can also focus on improving customer service, offering flexible payment options, and personalizing the shopping experience. Additionally, businesses can leverage data analytics to understand customer behavior and preferences better.

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Global Market Trends

To start, pinpoint any promising market trends in untapped regions or emerging economies. While big markets can be safer bets, smaller markets might experience more dramatic growth spurts. (Slide 3)

Global Market Trends

Now, break this information down into finer points. In this hypothetical scenario, we're analyzing how sales channels have evolved. The regional data highlighted in the previous slide are now divided into online and non-online sales. (Slide 4)

Customer value map

Now lets bridge market perceptions with what a business actually has to offer. A simple way to visualize where your company offerings fall in the marketplace is with a Customer Value Map. The map compares a company or a particular product's relative price with its relative satisfaction. Offerings that fall on the fair value line have price points that correspond to a generally accepted level of satisfaction and quality. They give neither too much nor too little. Plot where your main business competitors fall on this map and where you want your business to be, that is, the intended niche. (Slide 5)

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I'm sorry, but the content provided does not contain specific examples of companies that have used a Customer Value Map to find their intended niche in the market. However, many companies use similar strategies to understand their position in the market and adjust their offerings accordingly.

Some alternative tools or methods to the Customer Value Map for visualizing a company's offerings in the marketplace include the Value Proposition Canvas, the Business Model Canvas, and the SWOT Analysis. The Value Proposition Canvas helps to understand the customer's needs and how the company's products or services meet those needs. The Business Model Canvas provides a broader view of the company's business model, including its value proposition, customer segments, channels, and revenue streams. The SWOT Analysis helps to identify the company's strengths, weaknesses, opportunities, and threats in the marketplace.

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Customer Value Map

In this scenario, Company 4 wins the hearts of the public for the relatively high satisfaction it delivers for its relatively low price. Company 3 hovers around your intended niche. So even though Company 4 is doing quite well, Company 3 would be a more immediate threat.

This additional layout allows you to add logos or images of the competitors you seek to dethrone. If a strategic pivot is needed and your intended niche needs to be modified, simply move the shaded quadrant to its new position. (Slide 6)

Customer Value Map
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Product-market fit

Product Market Fit

Product-Market Fit is achieved when the product or service offerings answer to the needs of the target customer. A solution is only a good one when it's relevant to the end user. (Slide 7)

Product Market Fit

This retention graph compares two products in terms of active user count over time. Although they started at the same baseline, their retention trajectories show which achieved product-market fit, and which failed to do so. (Slide 28)

Revenue projection

We've discussed ways to tailor the product messaging to meet unmet needs of the target demographic. The product is welcomed, the customers are happy. But ultimately, there needs to be enough revenue and profit growth to justify it all. Execs and stakeholders want to see green.

While no one can project the exact financials after the product gets introduced, try to come up with a growth forecast to signal the potential of this endeavor over time. The stacked bar graph on the right is made of the forecast and cumulative values from the table on the left. Right-click on the graph to edit the data. (Slide 14)

Questions and answers

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The concept of a Kanban board can be applied to various industries and disciplines outside of product development. It can be used in any field that requires task management and workflow visualization. For instance, in the healthcare industry, a Kanban board can be used to track patient progress, from admission to discharge. In the field of education, teachers can use it to monitor the progress of their students' projects. In the hospitality industry, it can be used to manage room bookings and cleaning schedules. The key is to identify the stages of the workflow and the tasks that need to be completed at each stage.

Some alternative methods to track the progress of product development stages in a GTM plan include using a Gantt chart, which provides a visual timeline for tasks and their completion status. Another method is using a project management tool like Trello or Asana, which allows for task assignment, progress tracking, and collaboration. Additionally, Agile methodologies like Scrum or Kanban can be used to manage and track progress in a more flexible and iterative manner. Regular team meetings and updates can also be effective in tracking progress.

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Revenue Growth Projection

Launch dashboard

While a big part of GTM belongs to the planning stage, it's the execution that ultimately makes the product tangible. Use this launch status dashboard to track the progress of any stage, whether that's research, forecast, design, development, marketing, or sales. This slide uses the product development team as an example. The dials on the left show overall completion and completion by team. The board on the right lists individual tasks under each team and their statuses. This can also be modified to be a Kanban board. So that the columns will turn into development stages such as backlog, in progress, and QA. (Slide 21)

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GTM Launch Status

Expansion lifecycle

A solid go to market plan is more than just attractive product offerings; it also extends the growth horizon all the way to post-sales tactics. In most cases, products generate higher business value from introduction to growth, to maturity. After hitting market saturation, it usually plummets into oblivion. On the other hand, for teams that are always seeing around the corners and strategizing for the next big move, there can actually be renewed growth. This transitional period is critical to either renew customer interest or tap into a new market.(Slide 29)

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Expansion Lifecycle
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