… take on more of the purchasing responsibility in a self-service model. This might or might not be appropriate.
6. Market Research: It’s important to determine whether your new solution is something that customers want. Conduct research both inside and outside of your company.
Inside your company, engage your sales team. They speak with customers daily and understand changes taking place in the market. Listen in on sales calls, and travel to sales meetings. Don’t forget also to mine the help tickets that your technical support team receives. They can include a wealth of information on what customers want.
Outside your company, survey customers through email, phone calls and video chat. Uncover the value proposition and competitive advantage that your solution can bring to them.
7. Leverage Brand Equity: If you are launching a new product or service from a leading IT vendor, leverage its brand equity and use it to establish your company’s credibility in a new market. For example, ask the IT vendor to participate in a joint webinar to potential customers. Including their logo and speaker information on the invitation will generate additional interest and attendees, since your company’s association with their brand will give you immediate credibility in the eyes of your prospects. It will strengthen their consideration of your company because of the relationship that you have with an IT vendor they already know and trust.
8. Partnerships: When entering a new industry vertical, consider partnering with an industry-specific provider that has a complementary offering. The combination of your solutions will enable both companies to go to market with a unique offering that customers can’t get from any other provider. That immediately differentiates your company from other competitors and enables you to deliver a solution that will help customers achieve their goals more quickly.
9. Marketing Communications: Effective marketing communications is a combination of brand awareness and demand generation. You will need to implement demand-generation campaigns to sell your solution, but how much brand awareness will you need to do? If you are selling a new solution to existing customers, they are already aware of your brand. If you are focusing on a new industry vertical, you will need to begin with brand-awareness activities and then layer on demand-generation activities such as retargeting, content marketing, videos, newsletters, lead nurturing, social and other campaigns.
As you can see, a go-to-market strategy is not simply a subsection of a marketing proposal. It’s a plan of attack that encompasses responsibilities and insights across multiple departments and disciplines. When integrated effectively, it’s the cornerstone of a successful product or service launch.
Hartland Ross is an online marketing strategist, entrepreneur, and founder and president of eBridge Marketing Solutions, an online marketing agency and consulting firm catering to technology companies.
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May 24 2019 @ 15:22:08 UTC