Developing a Go-To Market Strategy
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New Tools Now Available at http://www.gotomarketadvisory.com This Go-To-Market Strategic framework was developed as a result of a major consulting assignment. Three expert process design consultants were locked in a room for 2 weeks to develop what has become the world's leading methodology for developing a go to market strategy. The client for this project was a $2m PA Innovation Program. In order to see results from the innovation program they engaged us to develop a structured methodology for determining the best path to market for any new innovation. Watch the presentation to the end as there is now an embedded video overview of the methodology.
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Developing a Go-To Market Strategy
- 1. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Find Your Path To Market For the worlds leading Go-To-Market Tools and Full Method Visit: http://www.gotomarketadvisory.com
- 2. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com So What is a Go-To-Market Strategy? 2
- 3. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com So what is a Go-To-Market Strategy? 3 New Thing Customers
- 4. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com What’s so hard about that? 4 New Thing Customers WebsiteMobile Affiliates Joint Ventures Collaborators Distributors Channel Partners Technology Partners Product Partners
- 5. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com how do we get from here... 5 New Thing Customers WebsiteMobile Affiliates Joint Ventures Collaborators Distributors Channel Partners Technology Partners Product Partners
- 6. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com To here... 6 New Thing Customers Website Affiliates Channel Partners Technology Partners
- 7. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Without this 7
- 8. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Or this,... 8
- 9. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com we need a map... 9 WHAT to sell HOW to sell Go-To- Market Strategy WHO to sell to
- 10. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com some context... 10 Develop Vision and Strategy Define business concept and long term vision Develop business strategy Develop long term vision Market & Sell Products & Services Understand markets & customers Develop go to market approach Develop sales strategy Develop & manage marketing plans Develop & manage sales plans Deliver products & services Plan for and acquire necessary resources Procure materials and services Produce/Manufacture/Delive r product Deliver service to customer Manage logistics and warehousing Manage Customer Service Develop customer care/customer service strategy Plan and manage customer service operations Measure and evaluate customer service operations Develop & Manage Products & Services Manage product and service portfolio Develop products and services Develop & Manage Human Capital Develop & manage HR Recruit, source & select employees Develop & Counsel Reward & retain employees Re-deploy and retire employees Manage Employee info. Manage Information Tech. Manage Financial Resources Program & Portfolio management Manage OH&S Manage External relationships Manage knowledge & improvement Manage information IT Customer relationships Continuity and Risk Develop IT solutions Deploy IT solutions Support IT services. Perform planning & mgmt acct. Perform revenue accounting Perform general acct. & reporting Manage fixed assets & proejcts Process Payroll Process payables & expenses. Maintain project/ program methodology Manage Portfolio Manage Programmes Manage Projects & resource allocation Determine environment Develop OH&S Programme Train & educate employees Monitor OH&S Programme Ensure compliance Manage remediation Build Stakeholder relationsipos Manage gov.& ind. relationships Manage board relations Manage legal & ethical issues Manage Public Relations program Create & manage organisational performance metrics Benchmark performance & manage change Develop enterprise wide knowledge management Manage Innovation SupportProcessesOperationalProcesses
- 11. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com a start and end point... 11 Process Scope: The go-to-market strategic framework structures and defines the activities and participants (‘channels’) that connect a product or service to customers. DevelopVision and Strategy Define business concept and long term vision Develop business strategy Develop long term vision Market & Sell Products & Services Understand markets & customers Develop go to market strategy Develop sales strategy Develop & manage marketing plans Develop & manage sales plans Deliverproducts & services Plan for and acquire necessary resources Procure materials and services Produce/Manufacture/ Deliver product Deliver service to customer Manage logistics and warehousing Manage Customer Service Develop customer care/customer service strategy Plan and manage customer service operations Measure and evaluate customer service operations Develop& Manage Products & Services Manage product and service portfolio Develop products and services Develop & Manage Human Capital Develop & manage HR Recruit, source & select employees Develop & Counsel Reward & retain employees Re-deploy and retire employees Manage Employee info. Manage Information Tech. Manage Financial Resources Program & Portfolio management Manage OH&S Manage External relationships Manage knowledge & improvement Manage information IT Customer relationships Continuity and Risk Develop IT solutions Deploy IT solutions Support IT services. Perform planning & mgmt acct. Perform revenue accounting Perform general acct. & reporting Manage fixed assets & proejcts Process Payroll Process payables & expenses. Maintain project/ program methodology Manage Portfolio Manage Programmes Manage Projects & resource allocation Determine environment Develop OH&S Programme Train & educate employees Monitor OH&S Programme Ensure compliance Manage remediation Build Stakeholder relationsipos Manage gov.& ind. relationships Manage board relations Manage legal & ethical issues Manage Public Relations program Create & manage organisational performance metrics Benchmark performance & manage change Develop enterprise wide knowledge management Manage Innovation SupportProcessesOperationalProcesses Inputs: A defined opportunity approved to progress to market engagement Outputs: Selected market channel(s) and partners if required to put product or service in the hands of customer Develop go-to- market approach
- 12. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com ...and a process. 12 Go-To Market Strategy 1. Define market value proposition 2. Identify primary target market 3. Review existing market channels 4. Create detailed channel approach
- 13. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com But, after searching 13
- 14. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com We concluded 14
- 15. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com That none existed 15
- 16. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com So we built one 16
- 17. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com And tested it 17
- 18. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com It works! 18
- 19. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Why does a Go-To-Market Strategy Matter?
- 20. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com The future of your organisation depends on it • Reduce time to market • Reduce cost associated with failed go-to- market attempts • Reduce reputation risk • Reduce risk of product success • Increase ability to adapt quickly • Ensure regulatory compliance • Enhance customer experience • Manage innovation adoption issues
- 21. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com But why today more than ever? • Channels to market more complex than ever • Access to channels more competitive than ever • Path to market is now not always clear • Business demand for quick results means choosing the wrong path to market can mean premature death of a great product or service • More regulation and compliance • Many channels to market for innovative products have the potential to cause channel conflict with existing products. 21
- 22. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Developing Your Go-To Market Strategy 22
- 23. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com The Map 23 WHAT to sell HOW to sell Go-To- Market Strategy WHO to sell to
- 24. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com The Context Develop Vision and Strategy Define business concept and long term vision Develop business strategy Develop long term vision Market & Sell Products & Services Understand markets & customers Develop go to market approach Develop sales strategy Develop & manage marketing plans Develop & manage sales plans Deliver products & services Plan for and acquire necessary resources Procure materials and services Produce/Manufacture/Delive r product Deliver service to customer Manage logistics and warehousing Manage Customer Service Develop customer care/customer service strategy Plan and manage customer service operations Measure and evaluate customer service operations Develop & Manage Products & Services Manage product and service portfolio Develop products and services Develop & Manage Human Capital Develop & manage HR Recruit, source & select employees Develop & Counsel Reward & retain employees Re-deploy and retire employees Manage Employee info. Manage Information Tech. Manage Financial Resources Program & Portfolio management Manage OH&S Manage External relationships Manage knowledge & improvement Manage information IT Customer relationships Continuity and Risk Develop IT solutions Deploy IT solutions Support IT services. Perform planning & mgmt acct. Perform revenue accounting Perform general acct. & reporting Manage fixed assets & proejcts Process Payroll Process payables & expenses. Maintain project/ program methodology Manage Portfolio Manage Programmes Manage Projects & resource allocation Determine environment Develop OH&S Programme Train & educate employees Monitor OH&S Programme Ensure compliance Manage remediation Build Stakeholder relationsipos Manage gov.& ind. relationships Manage board relations Manage legal & ethical issues Manage Public Relations program Create & manage organisational performance metrics Benchmark performance & manage change Develop enterprise wide knowledge management Manage Innovation SupportProcessesOperationalProcesses
- 25. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com The inputs and outputs 25 Process Scope: The go-to-market strategy structures and defines the activities and participants (‘channels’) that connect a product or service to customers. DevelopVision and Strategy Define business concept and long term vision Develop business strategy Develop long term vision Market & Sell Products & Services Understand markets & customers Develop go to market strategy Develop sales strategy Develop & manage marketing plans Develop & manage sales plans Deliverproducts & services Plan for and acquire necessary resources Procure materials and services Produce/Manufacture/ Deliver product Deliver service to customer Manage logistics and warehousing Manage Customer Service Develop customer care/customer service strategy Plan and manage customer service operations Measure and evaluate customer service operations Develop& Manage Products & Services Manage product and service portfolio Develop products and services Develop & Manage Human Capital Develop & manage HR Recruit, source & select employees Develop & Counsel Reward & retain employees Re-deploy and retire employees Manage Employee info. Manage Information Tech. Manage Financial Resources Program & Portfolio management Manage OH&S Manage External relationships Manage knowledge & improvement Manage information IT Customer relationships Continuity and Risk Develop IT solutions Deploy IT solutions Support IT services. Perform planning & mgmt acct. Perform revenue accounting Perform general acct. & reporting Manage fixed assets & proejcts Process Payroll Process payables & expenses. Maintain project/ program methodology Manage Portfolio Manage Programmes Manage Projects & resource allocation Determine environment Develop OH&S Programme Train & educate employees Monitor OH&S Programme Ensure compliance Manage remediation Build Stakeholder relationsipos Manage gov.& ind. relationships Manage board relations Manage legal & ethical issues Manage Public Relations program Create & manage organisational performance metrics Benchmark performance & manage change Develop enterprise wide knowledge management Manage Innovation SupportProcessesOperationalProcesses Inputs: A defined opportunity approved to progress to market engagement Outputs: Selected market channel(s) and partners if required to put product or service in the hands of customer Develop go-to- market approach
- 26. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com The Process 26 Go-To Market Strategy 1. Define market value proposition 2. Identify primary target market 3. Review existing market channels 4. Create detailed channel approach
- 27. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com 1. Defining the Value Proposition 27 1. Define market value proposition 2. Identify primary target market 3. Review existing market channels 4. Create detailed channel approach
- 28. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com 1. Define Market Value Proposition Objective: Articulate the relative value of the bundle of Intellectual Assets (‘product or service’) in the context of the market. 28 1. Define Market Value Proposition 1.1 Define Features 1.2 Assess relative features 1.3 Identify unique features 1.4 Determine benefits of features 1.5 Articulate value proposition
- 29. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com 1.1 Define Features 29 Define the features of the intellectual asset bundle. The features list should include novel features as well as standard features. In the case of the a phone service, a feature could be: call forwarding. Approach Example Deliverable A list of features offered by the intellectual asset bundle. 1. Define Market Value Proposition 1.1 Define Features 1.2 Assess relative features 1.3 Identify unique features 1.4 Determine benefits of features 1.5 Articulate value proposition
- 30. © Copyright Mission HQ Pty. Ltd – more at www.gotomarketadvisory.com Getting Started on Your Go To Market Strategy • This presentation has had the detailed methodology slides removed. • For a Go To Market Planner and Full Guidebook See: http://www.gotomarketadvisory.com 30