Running a startup business is exciting.
You’re pioneering new solutions, entering uncharted territories and making a difference through your own innovation.
However, it also comes with immense pressure: you face the challenge of creating awareness, raising funds and generating sales opportunities all while competing with other startups and big names in the industry.
So, what do you do?
Given the tight budget, limited resources and inherent risks that accompany your startup phase, it’s absolutely crucial to not put your product or solution out there without a well-defined Go To Market (GTM) game plan first.
This involves crystalising your understanding of the value you offer, paving the way for your startup to attract investors, convince customers and drive business growth.
Without a GTM strategy, you’re setting yourself up to fail.
At Ask Marketing, we appreciate the true importance of this process.
That’s why we introduced the Go to Market Strategy arm of our business to support early stage startups in the tech, app and product spaces.
This involves helping startups like yours succeed in your pitch, fundraising and product launch endeavours.
To give you a bit more background on how our marketing for startup works, let me walk you through our Go to Market (GTM) Strategy today.
Step 1: Commercialisation of Your Product
There’s one thing I always tell our clients: “Marketing is only as good as your product or service."
No amount of marketing can compensate for a subpar offering, especially in today’s business landscape where customers are incredibly discerning and have exceptionally high expectations.
It’s important to first ensure that your product is commercially feasible, viable and desirable before engaging in marketing.
No worries, though! There are many Accelerator Programs in Australia that can help workshop your ideas, test your solution and monetise your business.
In fact, Ask Marketing has a strategic partnership with Hyper, a global technology incubator that’s designed to set up more tech companies for success.
Once you’re confident that your product is adequately prepared to gain traction in the market, you can now proceed with the next step.
Step 2: Your Brand Marketing
Your brand marketing plays a pivotal role in communicating your value, fostering trust and leaving a strong impression that compels people to convert.
It consists of two important elements:
- A Visual Brand – Visual branding consists of the logo, colours, typography, design and other visual aesthetics that make up your brand, allowing you to capture attention and standout in a crowded marketplace.
- Brand Messaging – Brand messaging involves developing all of your communication guidelines, tone, style and personality. This allows you to convey the essence of your startup’s identity and connect better with audiences.
When it comes to creating a compelling brand narrative and outstanding message marketing for brands, our team are proud to partner with Melotti Media – a full service Sydney Copywriting Agency trusted by multinational corporations and small businesses alike.
Do you have Step 1 and 2 sorted? If you think you’re ready to dive into our GTM strategy development project with us, [download our foundational components doc].
This acts as a checklist for all the pre-requisites we need to get started effectively.
Step 3: The Go to Market (GTM) Strategy for Your Startup
Equipped with a strong commercial model and a distinct brand marketing foundation, what you need to do now is adopt a Go to Market (GTM) Strategy that can help you boost brand recognition, build greater demand and convert more prospects into paying clients.
However, your next action will highly depend on whether or not you have an existing database of users who are familiar with your offering and genuinely interested in it.
If you already have a database of potential customers, you can proceed directly to launching a GTM Strategy. Otherwise, you must first work on a pre-launch or soft launch.
Let me elaborate on these two.
Pre-launch or Soft Launch
If you do not currently possess a database of educated and interested users, opting for a pre-launch or soft launch is recommended.
A pre-launch is where you build up hype, start driving demand for your product and attain initial customer data by showcasing a glimpse of your forthcoming product.
Think of it as the REGISTRATION PHASE – your one opportunity to “dangle the carrot” or incentivise with your “shiny new toy” that’s coming soon.
As your main objective here is to build a database of prospects, you’ll have to use a sign up process to collect names, e-mail addresses and other vital contact information of potential clients.
In return, you can offer them exclusive access to your product or solution once it goes officially live in the market. These prospects, when consistently engaged with and nurtured properly, will likely serve as hero advocates of your brand in the future.
Just remember: In assessing your product's potential market reception, investors often consider the number and quality of registered interested parties you have during this phase.
So, make sure to get this stage right!
Launch GTM Strategy
Having established a database of potential customers, you can now move towards launching a Go To Market (GTM) Strategy.
The purpose of the GTM Strategy is to activate the registered people on your database and get them to convert, turning them into paying customers of your startup.
It's worth noting, however, that certain businesses may choose an alternate approach. They might opt to initially provide their products for free in exchange for clients’ honest reviews or feedback.
Nevertheless, your focus at this stage should always revolve around solving audience’s pain points, answering their concerns and providing them with value across multiple touchpoints.
Key inclusions for both a Soft Launch and a Launch GTM Strategy
To effectively introduce your product or solution to the market (and ensure it makes a big impact!), it’s important to incorporate the following key components into both your Soft Launch and Launch GTM Strategy:
- Customer personas
- Competitor analysis
- Key conversion points for when people register, activate and transact
- Optimisations to site landing pages or App Store / Google Play
- A prioritised list of every marketing channel and tactic needed and how each will be implemented
- Key success metrics (for marketing and app performance)
- Marketing budget
- Resourcing plan for execution
Want to secure your best shot at launching in the market?
Armed with a comprehensive digital marketing strategy, you can confidently introduce, promote and position your product in the market for success.
At Ask Marketing, our GTM Strategy serves as your roadmap to success – ready to remove all guesswork in your marketing, mitigate your risks and kick the doors open so you can continuously attract customers and drive business growth.
Want to know if our GTM Strategy is right for your business?
Take the first step by completing our Foundational Components document today.
[DOWNLOAD OUR FOUNDATIONAL COMPONENTS DOCUMENT]
You can also gain insights from our clients who have benefited from our GTM strategy:
Do you need help with marketing your startup?
As we always say, all you have to do is ASK!
Learn more about our Go To Market Strategy project, or book a free call today to discuss your business and the ways we can help you navigate the digital marketing landscape.
Stop waiting. Start building. Experience success.
Let’s harness the power of digital marketing today!
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