Topics In Demand
Notification
New

No notification found.

Blog
A go-to-market strategy for startups in this digital era

September 8, 2017

513

0

Customers, not markets, buy your products. So, going to market demands a deep understanding of your customers’ needs and behaviors. A strong strategy builds your organization’s capabilities to sell more.  It involves putting forward the right prices at the right time via the most effective channels. Today’s dynamic digital era demands companies to tailor-make their strategies to reach customers.

 

To be ready for this digital revolution, learn how this era has changed advertising:

 

  1. Advertising is huge. Advertising was simple, more money meant more customers, which meant more success. Digital has brought back pay to play idea.
  2. A conventional advertisement is no longer viable. You have to get creative to catch attention.
  3. Traditional advertising is dead. Online marketing channels are better targeted and you only pay for reaching people who have interest in what you say.
  4. Digital levels the playing field. Communication has changed. With more details about the shift in customer behavior, it’s now easier than ever to hit them right.
  5. Customer service never sleeps. People expect you to address their needs at all times, as fast as you can.

 

A kickass go-to-market strategy for startups

Millions of startups reach the basic funding stage each year.  Angel investors help about half of these companies with their initial development. Very few out of them are then able to show enough promise to actually receive a first round of capital from venture or private equity sources. The challenge usually how to sell your product and create a sustainable revenue stream so that you can further develop your product offerings, build your infrastructure, repay your investors and finally pay yourself. Here’s where figuring a great go-to-market approach comes into play.

Startups need to take their customers’ perspective to understand how to approach the market. They should think about what the customers are trying to achieve and what problems they need to solve — and then think about how the product can help them be successful. Let’s take a look at a GTM strategy startups need to adopt.

 

Nail your GTM positioning

Market positioning, at heart, is simply how you tell your story. It’s a forcing function that helps you to crystallize your strategy which can have a magnitude effect across the whole company. Take a look at these 5 crucial GTM considerations:

 

  • Audience – Fully understanding your consumer segments is most important before you start anything else.
  • Channels – Once you know your audience, you need to know where they are looking and where they are learning. This will help you to understand how to best reach your target audience.
  • Pricing & packaging – You need to “right size” for your segments and strengths.
  • Customer acquisition cost – Work through your acquisition model and costs.
  • Messaging – You can only solidify your messaging within the context of everything else.

 

Remember, any successful startup began with solving their customers’ challenges. It’s better to build a small customer base who love your product rather a lot of them who just sort of like your product. Finding out the perfect approach to go to market is challenging. But as you move forward solving your customer’s’ problems, you will refine it based on the insights you gain. 


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.