🏆 A go-to-market formula for your next launch
5 key ingredients to build an effective GTM strategy.
So, you’re launching a new product or feature. Based on your customer research there’s a need for it — this will be the game changer that takes your startup to the next level. Your team is working tirelessly to get it ready, making sure there are no bugs. Now, how can you get current and potential customers to know about — and use — this thing so your launch is a success?
Today we’re diving into how to do just that. Here’s a formula you can use to develop a go-to-market strategy for your next launch.
Simply releasing a new product or feature and expecting customers to use it and new users to sign up won't get you the results you want. A truly effective launch strategy targets one or two specific audiences, tells one cohesive story, is distributed through the right channels, and ladders back up to your overall objectives.
No matter how big or small, every product or feature launch needs to be thought through to be effective. Here are the five key ingredients that add up to a successful go-to-market strategy, and the questions you and your team should ask to align on each. Follow this formula to help set your launch up for success.
1. Establish your launch objectives and KPIs.
By setting clear goals you narrow your focus — if something doesn’t advance a main objective, put it on the back burner for another time. Your goals will also inform which KPIs you want to measure for this launch. These will be the key indicators of how successful the launch is. To set your launch objectives and KPIs ask yourself:
What are the 1 or 2 main goals for this launch?
Are there sub-goals that ladder up to these main goals?
What KPIs can you set that tie back to these goals?
How will you track these KPIs?
2. Hone in on your audience.
There is a specific customer you developed this product or feature for. To get them to engage, you need to speak directly to them. Before you develop your marketing content, use these questions to identify the people most likely to engage with your new product or feature.
Who are you speaking to? (get specific!)
Why is this your primary audience?
What problems are they facing and how are you solving it for them?
Why, how, and when will they use this product or feature?
What is their age or age range?
Where do they live online?
Where do they live offline?
3. Build your narrative.
Now that you know who you are speaking to, think through what you will tell them. Use the below questions to draft a tagline, short description, and long description for this launch — these will inform all marketing materials you develop later. Remember to speak specifically to the audiences you identified in part 2. "When you speak to everyone, you speak to no one" - Meredith Hill.
What is the story you will tell?
Why are you telling this story?
How does this story tie back to your overall brand positioning?
4. Design your go-to-market approach.
Broadly brainstorm how you will go-to-market. This will help inform the specific distribution channels and tactics you and your team will select later. Ask yourself:
Why are you releasing this product at this time?
What is your marketing budget?
What can you do to make this the most talked about launch?
How can you tap into partners or influencers to get the word out?
What will you do at various stages to engage your audience? (before launch, launch day, post launch)
What online and offline channels can you tap into to reach your audience?
4. Finalize your distribution channels and launch tactics.
Now it’s finally time to get into the nitty gritty and identify what paid, owned, and earned marketing channels you’ll tap into and in what way. These tactics should tie back directly to the go-to-market approach you designed in part 4, use the narrative you built in part 3, reach the customers you identified in part 2, and help you meet the objectives you set in part 1.
How will you use your website, email, and social media channels?
What online or offline event(s) will help you reach your audience? (If applicable)
Are there other online communities in which you can own a conversation in? (e.g., Facebook groups, Reddit threads, Slack channels, notable newsletters, etc.)
Where does digital advertising make sense for this launch? (e.g., paid social, newsletter ads, website banners, podcasts, etc.)
Where does out-of-home advertising make sense for this launch? (e.g., billboards, direct mail, handouts, etc.)
Is there an opportunity for media coverage? (Learn what makes a story here.)
How will you activate influencers or partners?
Which speaking engagement(s) reach the right audience(s)? (If applicable)
Which type of giveaway will help reach and activate this audience? (If applicable)
Stay focused and think creatively, and you'll set your next product launch up for success 🚀.
🤝Let’s work together. If you would like to learn more about Robin, or want to talk about your brand’s marketing, communications, and product development initiatives, contact us at firstname.lastname@example.org.
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