A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on factors to consider for an ideal go to market strategy framework. In this article, experts at Infiniti Research explain what a go to market strategy is and highlights the key factors to consider while building a go to market strategy.
Go to market strategy is often confused with a business plan. Although the two are closely related, they are different from one another. A business plan is a broader concept and go to market strategy framework is primarily focused on delivering a product or service to the end consumer. A go to market plan is the unique approach that sales leaders undertake for winning a strong foothold in a market. It’s the decisions leaders make to prepare their organizations for the future and outperform their competitors.
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Factors to Consider for an Ideal Go to Market Strategy Framework
Target audience
Identifying the target audience is the foundation of a go to market strategy framework. Start by defining various customer segments and ensure that each segment is discrete and distinct. Once the target customer segments are identified, understand the challenges faced by them.
Channels
Once the target audience segments have been identified and evaluated, the next step in building an ideal go to market strategy framework is to identify the best channels for reaching out to the customers. This helps businesses gain a better understanding of where their target customers are.
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Packaging and pricing
Packaging and pricing requirements vary across companies. Therefore, brands must identify the best solution that suits their offering rather than trying to copy their counterparts. The packaging, as well as the pricing, should do justice to the brand image that the company has created or wants to create in the market.
Customer acquisition cost strategy
A go to market strategy framework becomes ineffective in the absence of an appropriate customer acquisition and costs model. If what you get from the target customers is lesser than the costs of acquiring these customers, then businesses need to reconsider their customer acquisition strategy.
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