When you’re launching a new product or service for your business, it’s important to think about your go to market strategy. Here are the 6 key elements of a go to market strategy for B2B companies.
- Objectives
Before you launch a new product, service or any campaign, make sure you’ve set clear objectives and targets for what you’re hoping to achieve. A clear objective could be number of clicks on an advert, conversion rate, number of sales or revenue. As long as it’s specific and time-bound, you’ll be able to measure the success of your launch.
- Audience personas
Make sure you’re clear on who the target audience is for your new product or service. This is especially important if you’re going to be targeting a new audience group with your launch. Make sure you’re clear on their pain points and how you solve a specific problem with them to maximise the return on investment from your marketing activities.
- Customer journey map
Think about how your prospective new customers are going to get to the point of making a purchase. This is what we call the customer journey but it’s also sometimes called a funnel or cycle. Map out the different touchpoints for your customers at each stage of the buying process so you can understand how long sales might take and how much content you’ll need to nurture them through the process.
- Key messages and positioning
Once you know your target audience groups and you’ve thought about the customer journey, it’s time to make a note of your key messages and how you’re positioning your offer. The way you communicate can impact how your new product or service is perceived. For example, ‘cheap’ is not the same as ‘good value’, so decide now what’s going to resonate most with your target audience. But be prepared to be flexible as you get data through from the campaign and tweak your messaging according to what people are responding to best.
- Channels
Where are you planning to share your key messages and try to connect with your ideal customers for your new product or service? Go back to your audience personas and review where they spend time and what kind of content they like to consume. This will help you work out where to focus your marketing efforts for your launch. Some of the most common channels for B2B companies are email lists, LinkedIn, other social media (Instagram, Facebook), your website and sometimes offline channels too.
- Monitoring
Finally, how are you planning to monitor the success of your campaign? Fortunately, if you’ve been following these steps you’ll already have clear objectives and targets. But you also need to know how you’re going to collect the data you need to work out if you’re achieving those targets or not. Schedule a calendar invite in your diary to make sure you check in on a regular basis as this will give you a chance to improve what you’re doing and make your campaign even more effective. Ultimately leading to more sales!
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