Ready, Set, Go... To Market

So your product department has designed a new product and you’re in charge of simply taking the product to market….. now what?

Here’s a simple cheat sheet of some critical milestones that you must be clear about before you launch the new product.

Who is your target market what are your unique customer personas?

A great product doesn’t fit perfectly in every market so being clear about who your ideal target market is will be crucial. It’s difficult to target every market as it will impact your ability to make money hence you want to be sure that you are targeting the markets you can win in and the markets that your research has identified have a strong connection to your product.

You must understand who your customers are, how they behave, and what they want to experience when they engage your product. The more you know about your customer the better you will be able to execute your go- to-market strategy.

What is your products story and what makes your product unique?

Being able to simply tell the story of why your product exists and being able to position it for your customers is critical as a product never just sells itself.

Now that you can explain why your product exists you need to be able to spell out some key features and benefits that your product will deliver to your target audience. It’s so important that these resonate for your customers from the perspective of what problems it’s solving for them and the benefits your product is creating for their lives.

What channels are you going to use to take your product to market?

Picking channels isn’t hard, the challenge in this step is ensuring that the channels you chose are all as integrated and connected with each other as possible. It is critically important that customer experience is aligned regardless of how your customer choses to engage your product.

What’s your budget?

We are now clear on who we are selling to and what channels we are going to use so it’s now time to build your budget. Establishing your product pricing has been your focus right up until you’ve tested it with potential customers so this step needs to ensure that you incorporate and estimate all the costs associated with your go-to-market strategy.

How are you going to market your product?

You are ready to go and all that’s left is to determine what marketing activities you will leverage to take your product to market. You will need to develop a unique marketing approach for each target market you’ve identified in the first stage of this process.

Leveraging your product story, the goal of your marketing approach is to create a unique voice for your product in each market that gives your product the competitive advantage it needs.

Now you’re ready, it’s time to go…………….to market!

Looking to build your own Go To Market strategy?

Let us help. To learn more about how to build a go-to-market strategy for your customers, contact us on whiteark@whiteark.com.au