A common definition for a go-to-market (GTM) strategy may look something like this: “a methodology for introducing a product, service or solution to its addressable market.”
While the above explanation is correct, it leaves out the larger function of developing go-to-market motions to maximize customer lifetime value (CLV). Putting the wheels in motion, at every stage of the customer lifecycle, from inception to cross-sell, up-sell, and retention management, is to support the larger goal: maximize customer lifecycle value.
As such, modern go-to-market motions start with an understanding of not just who your customer is, but how they operate, what they care about, when they care about it, and how an organization’s product or service can help.
An inside out approach uses business intelligence as the backbone of a go-to-market strategy. To fully maximize channel capabilities, organizations must understand not just who the customer is, but how they buy. Sales and marketing must work together to test omni-channel strategies and eventually understand the best paths to orchestrate a GTM plan that delivers the right message, to the right stakeholder, at the right time and place. And make no mistake: Delivering GTM orchestration is increasingly important, especially given rising customer expectations. In fact, 90% of customers expect consistent interactions across channels (source).
The end game isn’t just consistency and visibility, of course.
So, what is the true definition of a GTM strategy? It’s an ongoing pursuit, rather than an achievement, to properly align company value propositions with the needs of its addressable market, while tactfully navigating internal and external variables, including market conditions, and the competitive landscape.