GTM Strategy Template

So, you've got a killer product ready to launch. Exciting, right?  That's where your go-to-market (GTM) strategy comes in.

We've put together a handy GTM strategy template that you can use to guide your launch and avoid any major missteps. Let's go!

What’s GTM?

GTM, or Go To Market, is the plan for how you’ll bring your product in the market post finding your Product Market Fit.

Based on your USP, competitors, pricing, and external factors - GTM strategies look different for different companies. That’s why, you need forecast issues, opportunities, and plan out exactly how you’ll launch the product and - more importantly - keep the momentum going.

Ultimately, it’s a playbook for outlining the steps you'll take to generate buzz, capture attention, and ultimately, drive sales.

Why is GTM Strategy important?

A GTM strategy is important because brilliant products fail in the market all the time.

Remember Clubhouse? It was the viral, invite-only audio app that took the world by storm in early 2021.

They seemed to have it all – a unique concept, a buzzworthy launch, and a growing user base. But then, things started to fizzle out.

Why? People point to a lack of a long-term GTM strategy. While they nailed the initial launch, they didn't have a clear plan for sustainable growth. They struggled to define their target audience, expand beyond their initial niche, and monetize their platform.

The lesson here is simple: A successful launch is just the beginning.

How do you build a long-term funnel?

How do your functions like sales, marketing, product, and customer success collaborate and bring focus? How do you know what’s worth doing?

That’s why GTM strategies differ from one company to another. Broadly, there’s 5 different types of GTM strategies:

You need a GTM strategy that goes beyond the initial hype and focuses on long-term growth and sustainability.

How to use our GTM Strategy Template

Situation Analysis: Know Your Turf

Before you start strategizing, you need to understand the lay of the land. This means getting a clear picture of both the external market landscape and your internal capabilities.

• Market Landscape: What's the current state of your industry? Are there any emerging trends or major players you need to be aware of? What are your competitors up to? And most importantly, who are your ideal customers? What do they want, what do they need, and where do they hang out online?
• Internal Capabilities: Now it's time to take a good look in the mirror. What are your product's strengths and weaknesses? Do you have the marketing and sales resources you need to pull off a successful launch? And let's not forget the financial side of things – do you have the budget to support your GTM strategy?

Objectives (SMART Goals): Setting Your Sights

Okay, now that you know where you stand, it's time to set some goals. And not just any goals – we're talking SMART goals: Specific, Measurable, Achievable, Relevant, and Time-Bound.

• Business Objectives: What are you hoping to achieve with this launch? Do you want to hit a certain revenue target? Increase market share? Acquire a specific number of new customers? Boost brand awareness?‍
• Marketing Objectives: How are you going to get there? What kind of marketing activities will you need to reach your business objectives? Will you focus on lead generation, website traffic, social media engagement, or something else?

Strategy: The Big Picture

Your strategy is the high-level plan that outlines how you'll achieve your objectives. It's the guiding light that will keep you on track throughout your launch.

• Positioning: How do you want your product to be perceived in the market? Who is your target audience, and what value proposition will resonate with them? What makes your product unique and different from the competition?
• Messaging: What are the key messages you want to communicate about your product? How will you craft these messages to speak directly to your target audience's pain points and desires? And what kind of content will you create to deliver these messages effectively?‍
• Channels: Where will you reach your target audience? Will you focus on social media, email marketing, paid advertising, or a combination of channels? How will you allocate your resources to each channel to maximize its impact?

Tactics: The Nuts and Bolts of Your Launch

Alright, now for the fun part – the actual tactics you'll use to make some noise and get your product noticed.

• Awareness: This is all about getting your product on people's radar. Think of it like throwing a party – you want to send out invitations, spread the word, and get people excited. Some tactics you might use include public relations (PR), content marketing (blog posts, videos, etc.), social media marketing, and even good old-fashioned advertising.
• Interest: Once you've got people's attention, you need to pique their interest. This is where you start showcasing your product's unique features and benefits. Tactics like email marketing, webinars, and events can be a great way to engage potential customers and get them interested in learning more.
• Desire: Now it's time to turn that interest into desire. You want people to crave your product and see it as the solution to their problems. This is where you can flex your creative muscles with things like product demonstrations, free trials, and customer testimonials.
• Action: You've got them hooked – now reel them in! This is the final stage of your GTM strategy, where you convert that desire into action (aka sales!). Tactics like sales promotions, limited-time offers, and strong calls to action can help nudge potential customers over the finish line.

Remember, this is just a starting point. Your specific tactics will depend on your target audience, your budget, and your overall marketing strategy. But by thinking strategically and planning your tactics carefully, you'll be well on your way to a successful product launch.

Action Plan: Making It Happen

Okay, you've got your strategy and tactics laid out – now it's time to put them into action.

• Timeline: Create a detailed timeline for your launch, outlining when each tactic will be executed. This will help you stay on track and ensure that everything happens when it's supposed to.
• Budget: Let's be real, launching a product isn't free. You'll need to allocate resources to each tactic, including things like advertising costs, event fees, and content creation.
• Responsibilities: Who's doing what? Assign clear responsibilities for each tactic to ensure that everyone knows their role and that nothing falls through the cracks.

Control: Keeping Your GTM Strategy on Track (Like a Boss)

You've got your plan, you've got your tactics – now it's time to make sure everything goes according to plan. This is where the "control" phase of your GTM strategy comes in. It's all about tracking your progress, measuring your results, and making adjustments as needed.

• Metrics: Remember those SMART goals you set earlier? This is where they really shine. Identify the key performance indicators (KPIs) for each objective. These could be things like website traffic, lead generation numbers, social media engagement, or sales revenue. By tracking these KPIs, you can see how your GTM strategy is performing and identify areas where you might need to course-correct.
• Tracking: How are you going to track those KPIs? There are a ton of tools out there to help you measure your progress, from Google Analytics to social media dashboards to CRM software. Choose the tools that work best for you and make sure you're collecting data consistently.
• Evaluation: This is where the rubber meets the road. Regularly review your data and evaluate your performance against your KPIs. Are you hitting your targets? If not, what can you do differently? Don't be afraid to experiment and try new things. Your GTM strategy isn't set in stone – it should be a living, breathing document that evolves as you learn and grow.

Examples

Take Slack, for example. They didn't just create a better communication tool, they targeted tech-savvy teams and early adopters, offering a freemium model that let people get hooked before they even paid a dime. And they made it so easy to use, people couldn't help but rave about it to their colleagues. The result? A communication revolution.

Zoom's pandemic breakout is another testament to the power of a solid GTM strategy. When the world went remote, Zoom was quick to adapt, offering free access to schools and businesses and making security a top priority. They partnered with other tech giants, integrating their video conferencing into everyday tools like Slack and Teams. By being agile, strategic, and trustworthy, Zoom became the go-to solution for a world in crisis.

Finally, let's not forget Dropbox. They made file-sharing simple and intuitive, something anyone could use. But they didn't stop there. They incentivized users to spread the word with a referral program, offering more storage for each friend who joined.

And by integrating with popular tools like Microsoft Office, they made Dropbox a seamless part of people's workflow. The result? Millions of users and a file-sharing empire.

These companies all had one thing in common: a well-thought-out GTM strategy.

They knew their target audience, crafted the right message, and chose the right channels to reach them. And they didn't just focus on the initial launch – they built strategies for long-term growth and sustainability.

So, what's the takeaway?

If you want your product launch to be a success, don't just wing it. Take the time to create a comprehensive GTM strategy that covers all the bases – from market research and positioning to messaging, channels, and tactics. It's the secret sauce that will help you launch with confidence, avoid costly mistakes, and set your product up for long-term success.

3 Tips from Slite’s Marketing Team

I bugged Veta, our Head of Marketing at Slite, about her experience with GTM.

1. A good GTM strategy isn’t built in silos

“Setting up a GTM strategy is really a collaborative job, not just for marketing, but for the bigger team. So sales 100% but then also, integrating customer success. We're looking into the whole funnel right from how you acquire your customers and then how you are moving them throughout the funnel.“

A successful GTM strategy is a team effort. It's not just about marketing getting customers in the door. It's about collaborating across teams - sales, customer success, product - to understand your users deeply and craft a unified experience throughout their entire journey. This ensures your message resonates and your product solves their needs every step of the way.

2. Nail Your Ideal Customer Profile

Veta emphasizes that thoroughly understanding your ideal customer profile (ICP) is essential before diving into tactics.

"I think the key thing is to really nail this part because only then you can actually set all the other things correctly."

By deeply understanding your target audience's pain points and needs, you can tailor your messaging, positioning, and overall strategy for maximum impact and that is the foundation of your GTM strategy, influencing everything from your messaging to your sales approach.

3. Prioritize Conversations with Customers

Do not rush into tactical execution before thoroughly understanding your ICP. Veta’s a huge  advocate for getting up close and personal with your customers to truly understand their needs and challenges.

"Until the foundations are not in place, like, any tactic will not make sense. It's super important to speak with them directly, understand how they express their biggest pain points, and then, aggregate insights, I think that's super, super important."

Engaging in direct conversations allows you to gather invaluable insights that inform your GTM strategy and ensure it resonates with your target market. By actively listening to their feedback and identifying patterns in their pain points, you can develop a targeted GTM strategy that effectively addresses their needs and leads to long-term success.

So, what's the takeaway?

If you want your product launch to be a success, don't just wing it. Take the time to create a comprehensive GTM strategy that covers all the bases – from market research and positioning to messaging, channels, and tactics. It's the secret sauce that will help you launch with confidence, avoid costly mistakes, and set your product up for long-term success.

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