A go-to-market strategy is an action plan detailing how a company will launch a new product or relaunch an existing product in a new market. The purpose of a GTM strategy is to offer a compelling and unique value proposition to your [target market](https://www.masterclass.com/articles/target-market-guide) to enhance the customer experience and gain a competitive advantage. Typically, a GTM strategy contains a [business plan](https://www.masterclass.com/articles/what-is-a-business-plan-learn-how-to-write-a-business-plan-in-8-steps) that outlines a sales strategy, [pricing strategy](https://www.masterclass.com/articles/pricing-strategy), and [marketing plan](https://www.masterclass.com/articles/marketing-plan-defined). 

A GTM strategy is a subset of a company's overall [marketing strategy](https://www.masterclass.com/articles/marketing-strategy-guide). While a marketing strategy pertains to a company's entire brand, a GTM strategy focuses on a specific product launch. A smaller [product marketing](https://www.masterclass.com/articles/product-marketing) team usually spearheads a GTM strategy.
A go-to-market strategy ensures you have a comprehensive roadmap to help execute a successful new product launch. Without a GTM strategy, you could focus on the incorrect target customer or bring your product into a market that's already oversaturated. An effective GTM strategy decreases your chances of wasting valuable time, money, and resources on a failed product launch.
Most companies use a combination of marketing and sales strategies when it comes to designing the go-to-market strategy that will serve them best. Here are four types to consider:

1. __Account-based marketing (ABM)__: This strategy focuses on [B2B sales](https://www.masterclass.com/articles/b2b-sales-guide). Using ABM in a go-to-market strategy means a sales team identifies and then tries to sell to specific companies. They might use a number of different sales tools or methods, such as content marketing or email marketing. 
2. __Demand generation__: Marketing and sales teams might take actions that will build awareness of a product or service with the goal of generating demand. Examples include using television or radio ads, email marketing campaigns, [cold calling](https://www.masterclass.com/articles/how-to-make-a-cold-call), online or in-person events, and others.
3. __Inbound__: An inbound strategy focuses on personalizing the sales process to the needs of the buyer. It draws potential customers who’ve expressed an interest in your goods or services—for example, by interacting with your company via social media, search engine optimization (SEO), or other content. Note this differs from the outbound sales process, in which sales reps initiate communication with potential customers.
4. __Sales enablement__: This go-to-market strategy emphasizes supplying your sales team members with all the tools and resources they need to identify and close leads throughout the rollout or sales cycle.
Creating a go-to-market strategy requires research and hard work, and these easy-to-follow steps can streamline the process.

- __Identify your buyer personas__. You need to know exactly who your target market is, so creating a [buyer persona](https://www.masterclass.com/articles/buyer-persona-guide) profile is crucial. Buyer personas are fictional profiles of people who represent your ideal customer base. They are useful during the [prospecting](https://www.masterclass.com/articles/sales-prospecting-guide) and lead-generation stages. Research the types of potential customers who have the problems your product will solve. When making your buyer personas, include your target market's demographics, behaviors, pain points, organization type, job title, and preferred contact methods.
- __Create a value matrix__. A product marketing team crafts a value matrix to zero in on messaging that best connects a product to the problem it's solving. A value matrix also communicates the purpose of a product to all [stakeholders](https://www.masterclass.com/articles/stakeholder-explained). To create a value matrix, make a chart listing each of your buyer personas. For each buyer persona, list their pain points, how your product is valuable in relation to those pain points, and a message that clearly describes how your product will solve the pain points. A value matrix is an essential tool for understanding the [buyer's journey](https://www.masterclass.com/articles/buyers-journey-explained).
- __Define your sales funnel__. Using the information in your buyer personas and value matrix, outline how your <a href='https://masterclass.com/articles/how-to-build-a-sales-team' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/how-to-build-a-sales-team","linkCopy":"sales team","category":"automated-link"}' automatic='true'>sales team</a> will take potential customers through the [sales funnel](https://www.masterclass.com/articles/sales-funnel-guide). Begin to make a plan for moving potential customers through each stage of the sales funnel: initial contact, lead qualification, business case, evaluation, negotiation, closing, and renewal.
- __Select a sales strategy__. There are numerous [sales strategies](https://www.masterclass.com/articles/sales-strategy-guide) your company can use to guide potential customers through the sales process. Choose one or more sales strategies that best fit your needs, depending on your product, market, and business model. For example, a product with medium complexity and a medium price point might leverage an [inside sales](https://www.masterclass.com/articles/inside-sales-defined) strategy. Inside sales use sales reps to communicate with potential customers remotely. A complex product with a high price point might use an [outside sales](https://www.masterclass.com/articles/outside-sales-defined) strategy (also called field sales). This requires sales reps to meet potential customers face-to-face. A simple product with a low price point might utilize a self-service sales model in which potential customers find and purchase your product on their own without a salesperson coaxing them through the process.
- __Decide how to generate product demand__. To raise awareness of your product launch, determine whether you want to use [inbound or outbound marketing](https://www.masterclass.com/articles/inbound-vs-outbound-marketing) efforts. An inbound strategy pulls in leads who have already expressed interest in your company's product or service; in other words, the buyer starts the conversation. An outbound strategy focuses on prospecting leads who have not already expressed interest in your company's product or service. 
- __Develop a content marketing strategy__. If you choose an inbound marketing strategy to generate demand for your product, an optimal way to attract your target customer is through [content marketing](https://www.masterclass.com/articles/content-marketing-guide). The goal of your content marketing team is to create compelling content based on your value matrix and the stages of the buyer's journey. Just as important as the content itself is how effective your team uses search engine optimization ([SEO](https://www.masterclass.com/articles/seo-strategy-guide)). The higher your SEO ranking, the easier it is for potential customers to discover your product.
- __Use metrics to hone your sales process__. Choose a system to measure your sales progress to improve your sales team’s performance. Use [key performance indicators](https://www.masterclass.com/articles/key-performance-indicators-explained) (KPIs) like conversation rate, sales volume, and time to make sure you're hitting your goals. Assess where your sales team needs to improve. Analyze ways to lower your [customer acquisition cost](https://www.masterclass.com/articles/customer-acquisition-cost-explained) to maximize your profit earned per customer and to shorten your [sales cycle](https://www.masterclass.com/articles/sales-cycle-explained) (the time between first contact with a prospect and a closed deal).
- __Outline a plan for customer retention__. It costs more money to acquire a new customer than it does to do repeat business with a current customer. Marketing techniques like [upselling](https://www.masterclass.com/articles/upselling) and customer [loyalty programs](https://www.masterclass.com/articles/loyalty-program) are common ways to incentivize repeat business and build long-term customer relationships.
A marketing strategy serves as a company’s plan for reaching its overall goals, whereas a go-to-market strategy encompasses plans for rolling out a specific product or service (or set of products or services). For example, marketing strategies might focus on reaching the broader target audience, improving the company’s position in the industry, and generating brand awareness. While a go-to-market strategy might be equally comprehensive, it will be smaller in scope comparatively.
Become a better <a href='https://masterclass.com/articles/robin-robertss-tips-for-effective-communication' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/robin-robertss-tips-for-effective-communication","linkCopy":"communicator","category":"automated-link"}' automatic='true'>communicator</a> with the [MasterClass Annual Membership](https://www.masterclass.com). Spend some time with Daniel Pink, author of four *New York Times* bestsellers that focus on behavioral and social sciences, and learn his tips and tricks for perfecting a <a href='https://masterclass.com/articles/daniel-pinks-tips-for-crafting-a-sales-pitch' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/daniel-pinks-tips-for-crafting-a-sales-pitch","linkCopy":"sales pitch","category":"automated-link"}' automatic='true'>sales pitch</a>, hacking your schedule for optimal productivity, and more. 
It's crucial you develop a thorough go-to-market strategy to prepare your business for bringing a new product to market.

It's crucial you develop a thorough go-to-market strategy to prepare your business for bringing a new product to market.

Go-to-Market Strategy Steps: Creating a Product Launch Plan

A go-to-market strategy is an action plan detailing how a company will launch a new product or relaunch an existing product in a new market. The purpose of a GTM strategy is to offer a compelling and unique value proposition to your <a href='https://www.masterclass.com/articles/target-market-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/target-market-guide","linkCopy":"target market","category":null}'>target market</a> to enhance the customer experience and gain a competitive advantage. Typically, a GTM strategy contains a <a href='https://www.masterclass.com/articles/what-is-a-business-plan-learn-how-to-write-a-business-plan-in-8-steps' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/what-is-a-business-plan-learn-how-to-write-a-business-plan-in-8-steps","linkCopy":"business plan","category":null}'>business plan</a> that outlines a sales strategy, <a href='https://www.masterclass.com/articles/pricing-strategy' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/pricing-strategy","linkCopy":"pricing strategy","category":null}'>pricing strategy</a>, and <a href='https://www.masterclass.com/articles/marketing-plan-defined' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/marketing-plan-defined","linkCopy":"marketing plan","category":null}'>marketing plan</a>. A GTM strategy is a subset of a company&#39;s overall <a href='https://www.masterclass.com/articles/marketing-strategy-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/marketing-strategy-guide","linkCopy":"marketing strategy","category":null}'>marketing strategy</a>. While a marketing strategy pertains to a company&#39;s entire brand, a GTM strategy focuses on a specific product launch. A smaller <a href='https://www.masterclass.com/articles/product-marketing' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/product-marketing","linkCopy":"product marketing","category":null}'>product marketing</a> team usually spearheads a GTM strategy.

What Is a Go-to-Market Strategy?

A go-to-market strategy ensures you have a comprehensive roadmap to help execute a successful new product launch. Without a GTM strategy, you could focus on the incorrect target customer or bring your product into a market that&#39;s already oversaturated. An effective GTM strategy decreases your chances of wasting valuable time, money, and resources on a failed product launch.

What Is the Purpose of a Go-to-Market Strategy?

Most companies use a combination of marketing and sales strategies when it comes to designing the go-to-market strategy that will serve them best. Here are four types to consider:<ol class="mc-m-4"><li class="mc-my-4"> 1. Account-based marketing (ABM): This strategy focuses on <a href='https://www.masterclass.com/articles/b2b-sales-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/b2b-sales-guide","linkCopy":"B2B sales","category":null}'>B2B sales</a>. Using ABM in a go-to-market strategy means a sales team identifies and then tries to sell to specific companies. They might use a number of different sales tools or methods, such as content marketing or email marketing. </li><li class="mc-my-4"> 2. Demand generation: Marketing and sales teams might take actions that will build awareness of a product or service with the goal of generating demand. Examples include using television or radio ads, email marketing campaigns, <a href='https://www.masterclass.com/articles/how-to-make-a-cold-call' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/how-to-make-a-cold-call","linkCopy":"cold calling","category":null}'>cold calling</a>, online or in-person events, and others. </li><li class="mc-my-4"> 3. Inbound: An inbound strategy focuses on personalizing the sales process to the needs of the buyer. It draws potential customers who’ve expressed an interest in your goods or services—for example, by interacting with your company via social media, search engine optimization (SEO), or other content. Note this differs from the outbound sales process, in which sales reps initiate communication with potential customers. </li><li class="mc-my-4"> 4. Sales enablement: This go-to-market strategy emphasizes supplying your sales team members with all the tools and resources they need to identify and close leads throughout the rollout or sales cycle. </li></ol>

4 Types of Go-to-Market Strategies

Creating a go-to-market strategy requires research and hard work, and these easy-to-follow steps can streamline the process.<ul class="mc-m-4 list-styled"><li class="">Identify your buyer personas. You need to know exactly who your target market is, so creating a <a href='https://www.masterclass.com/articles/buyer-persona-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/buyer-persona-guide","linkCopy":"buyer persona","category":null}'>buyer persona</a> profile is crucial. Buyer personas are fictional profiles of people who represent your ideal customer base. They are useful during the <a href='https://www.masterclass.com/articles/sales-prospecting-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/sales-prospecting-guide","linkCopy":"prospecting","category":null}'>prospecting</a> and lead-generation stages. Research the types of potential customers who have the problems your product will solve. When making your buyer personas, include your target market&#39;s demographics, behaviors, pain points, organization type, job title, and preferred contact methods. </li><li class="">Create a value matrix. A product marketing team crafts a value matrix to zero in on messaging that best connects a product to the problem it&#39;s solving. A value matrix also communicates the purpose of a product to all <a href='https://www.masterclass.com/articles/stakeholder-explained' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/stakeholder-explained","linkCopy":"stakeholders","category":null}'>stakeholders</a>. To create a value matrix, make a chart listing each of your buyer personas. For each buyer persona, list their pain points, how your product is valuable in relation to those pain points, and a message that clearly describes how your product will solve the pain points. A value matrix is an essential tool for understanding the <a href='https://www.masterclass.com/articles/buyers-journey-explained' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/buyers-journey-explained","linkCopy":"buyer\u0026#39;s journey","category":null}'>buyer&#39;s journey</a>. </li><li class="">Define your sales funnel. Using the information in your buyer personas and value matrix, outline how your <a href='https://masterclass.com/articles/how-to-build-a-sales-team' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/how-to-build-a-sales-team","linkCopy":"sales team","category":"automated-link"}' automatic='true'>sales team</a> will take potential customers through the <a href='https://www.masterclass.com/articles/sales-funnel-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/sales-funnel-guide","linkCopy":"sales funnel","category":null}'>sales funnel</a>. Begin to make a plan for moving potential customers through each stage of the sales funnel: initial contact, lead qualification, business case, evaluation, negotiation, closing, and renewal. </li><li class="">Select a sales strategy. There are numerous <a href='https://www.masterclass.com/articles/sales-strategy-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/sales-strategy-guide","linkCopy":"sales strategies","category":null}'>sales strategies</a> your company can use to guide potential customers through the sales process. Choose one or more sales strategies that best fit your needs, depending on your product, market, and business model. For example, a product with medium complexity and a medium price point might leverage an <a href='https://www.masterclass.com/articles/inside-sales-defined' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/inside-sales-defined","linkCopy":"inside sales","category":null}'>inside sales</a> strategy. Inside sales use sales reps to communicate with potential customers remotely. A complex product with a high price point might use an <a href='https://www.masterclass.com/articles/outside-sales-defined' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/outside-sales-defined","linkCopy":"outside sales","category":null}'>outside sales</a> strategy (also called field sales). This requires sales reps to meet potential customers face-to-face. A simple product with a low price point might utilize a self-service sales model in which potential customers find and purchase your product on their own without a salesperson coaxing them through the process. </li><li class="">Decide how to generate product demand. To raise awareness of your product launch, determine whether you want to use <a href='https://www.masterclass.com/articles/inbound-vs-outbound-marketing' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/inbound-vs-outbound-marketing","linkCopy":"inbound or outbound marketing","category":null}'>inbound or outbound marketing</a> efforts. An inbound strategy pulls in leads who have already expressed interest in your company&#39;s product or service; in other words, the buyer starts the conversation. An outbound strategy focuses on prospecting leads who have not already expressed interest in your company&#39;s product or service. </li><li class="">Develop a content marketing strategy. If you choose an inbound marketing strategy to generate demand for your product, an optimal way to attract your target customer is through <a href='https://www.masterclass.com/articles/content-marketing-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/content-marketing-guide","linkCopy":"content marketing","category":null}'>content marketing</a>. The goal of your content marketing team is to create compelling content based on your value matrix and the stages of the buyer&#39;s journey. Just as important as the content itself is how effective your team uses search engine optimization (<a href='https://www.masterclass.com/articles/seo-strategy-guide' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/seo-strategy-guide","linkCopy":"SEO","category":null}'>SEO</a>). The higher your SEO ranking, the easier it is for potential customers to discover your product. </li><li class="">Use metrics to hone your sales process. Choose a system to measure your sales progress to improve your sales team’s performance. Use <a href='https://www.masterclass.com/articles/key-performance-indicators-explained' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/key-performance-indicators-explained","linkCopy":"key performance indicators","category":null}'>key performance indicators</a> (KPIs) like conversation rate, sales volume, and time to make sure you&#39;re hitting your goals. Assess where your sales team needs to improve. Analyze ways to lower your <a href='https://www.masterclass.com/articles/customer-acquisition-cost-explained' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/customer-acquisition-cost-explained","linkCopy":"customer acquisition cost","category":null}'>customer acquisition cost</a> to maximize your profit earned per customer and to shorten your <a href='https://www.masterclass.com/articles/sales-cycle-explained' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/sales-cycle-explained","linkCopy":"sales cycle","category":null}'>sales cycle</a> (the time between first contact with a prospect and a closed deal). </li><li class="">Outline a plan for customer retention. It costs more money to acquire a new customer than it does to do repeat business with a current customer. Marketing techniques like <a href='https://www.masterclass.com/articles/upselling' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/upselling","linkCopy":"upselling","category":null}'>upselling</a> and customer <a href='https://www.masterclass.com/articles/loyalty-program' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com/articles/loyalty-program","linkCopy":"loyalty programs","category":null}'>loyalty programs</a> are common ways to incentivize repeat business and build long-term customer relationships. </li></ul>

How to Create a Go-to-Market Strategy

A marketing strategy serves as a company’s plan for reaching its overall goals, whereas a go-to-market strategy encompasses plans for rolling out a specific product or service (or set of products or services). For example, marketing strategies might focus on reaching the broader target audience, improving the company’s position in the industry, and generating brand awareness. While a go-to-market strategy might be equally comprehensive, it will be smaller in scope comparatively.

Go-to-Market Strategy vs. Marketing Strategy

Become a better <a href='https://masterclass.com/articles/robin-robertss-tips-for-effective-communication' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/robin-robertss-tips-for-effective-communication","linkCopy":"communicator","category":"automated-link"}' automatic='true'>communicator</a> with the <a href='https://www.masterclass.com' target='_self' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://www.masterclass.com","linkCopy":"MasterClass Annual Membership","category":null}'>MasterClass Annual Membership</a>. Spend some time with Daniel Pink, author of four New York Times bestsellers that focus on behavioral and social sciences, and learn his tips and tricks for perfecting a <a href='https://masterclass.com/articles/daniel-pinks-tips-for-crafting-a-sales-pitch' target='_blank' class='mc-text--link' data-mc-segment-trigger='true' data-mc-segment-event-type='Article Page Click' data-event-obj='{"textTag":"p","href":"https://masterclass.com/articles/daniel-pinks-tips-for-crafting-a-sales-pitch","linkCopy":"sales pitch","category":"automated-link"}' automatic='true'>sales pitch</a>, hacking your schedule for optimal productivity, and more.

Want to Learn More About Sales and Motivation?

It&#39;s crucial you develop a thorough go-to-market strategy to prepare your business for bringing a new product to market.

It's crucial you develop a thorough go-to-market strategy to prepare your business for bringing a new product to market.
