{"id":167977,"date":"2023-12-19T11:43:31","date_gmt":"2023-12-19T11:43:31","guid":{"rendered":"https:\/\/www.smartinsights.com\/?p=167977"},"modified":"2023-12-19T12:02:37","modified_gmt":"2023-12-19T12:02:37","slug":"example-of-how-to-structure-a-go-to-market-gtm-strategy-plan-template-download","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/marketing-planning\/create-a-marketing-plan\/example-of-how-to-structure-a-go-to-market-gtm-strategy-plan-template-download\/","title":{"rendered":"Example of how to structure a Go-To-Market (GTM) Strategy plan – template download"},"content":{"rendered":"

Our GTM plan template structured using RACE designed for small businesses and startups<\/h2>\n

You may have heard people talking about their \u2018Go To Market Strategy\u2019 and wondered how this type of plan differs from other classical types of marketing plans. In this article, I\u2019ll explain the purpose of a Go To Market plan and how to structure it using our RACE planning system<\/a> using our template download and example.<\/p>\n

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A plan defining your Go-To-Market (GTM) Strategy is distinct from other types of business plans because its focus and scope is centred on product launches and introducing products into new markets. In larger businesses, GTM plans are often owned by Product Managers together with marketing managers. In small businesses, it will often be the co-founder, owner or a marketer who creates the GTM plan for investors. Our simple template will suit these type of people creating plans in smaller businesses.<\/p>\n

I define a Go-To-Market plan as:<\/p>\n

\u201cA GTM plan is aimed at gaining customer acquisition for a new or revised service product or service to the market. It focuses on strategies to achieve market entry for branding and proposition, audience targeting and communications channels including partners\u201d.<\/em><\/p><\/blockquote>\n

What does this involve in practice? Well, it can be quite complex... Here is an example of a GTM partner marketing process<\/a> for a large organization defined by the agency - Coterie - that develops GTM plans for larger businesses.,<\/p>\n

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How should a GTM Strategy be structured?<\/h3>\n

As a minimum, the GTM Strategy plan should have sections covering:<\/p>\n

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  1. Goals and Objectives<\/strong> - This section defines what the company aims to achieve with the new product, such as market share, revenue targets, or customer acquisition goals. It sets specific, measurable objectives that guide the overall strategy and provide benchmarks for success.<\/li>\n
  2. Product Proposition<\/strong> - Details the unique value or benefit of the product, explaining why it\u2019s different from or better than competitors. It highlights features, advantages, and benefits that make the product appealing to consumers.<\/li>\n
  3. Sales Strategy<\/strong> - Outlines how the product will be sold, including pricing strategy and distribution methods. It covers both direct channels (like company sales force or website) and indirect channels (like retailers or partners), ensuring wide market reach and customer accessibility.<\/li>\n
  4. Branding<\/strong> - Focuses on developing the product\u2019s brand identity and message. This includes the visual elements (logo, colors), tone of voice, and overall message that will be used across all marketing materials to establish a strong, recognizable brand in the market.<\/li>\n
  5. Target Audience<\/strong> - Identifies the specific group of consumers who are most likely to buy the product. It includes demographic, psychographic, and behavioural characteristics, ensuring the product-market fit by tailoring the product and marketing efforts to meet the needs of these consumers.<\/li>\n
  6. Campaign Launch Plan<\/strong> - Details the tactics and timeline for introducing the product to the market. This includes marketing and promotional activities, like social media campaigns, events, or advertising, and sets a schedule for each phase of the launch to maximize impact and reach.<\/li>\n<\/ol>\n

    How do GTM plans differ from other plans?<\/h3>\n

    GTM plans tend to be more short-term and detailed compared to other sales and marketing plans. In contrast, other business plans, like strategic plans or operational plans, have broader scopes. Strategic marketing plans outline long-term business goals and directions, while operational plans focus on the day-to-day functioning of the company. The GTM plan is more specific, being primarily concerned with successfully introducing a new product or service into the market.<\/p>\n

    GTM plans include specific actions and timelines leading up to and immediately following the product launch. While this actionable focus is positive, there are some elements of the situation and marketplace analysis that can be missing. For example, it is essential to put time into reviewing competitors and how they meet customer needs and also potentially, broader PESTLE factors. Some aspects of marketing strategy may be limited. These are all covered in our Marketing Strategy template.<\/p>\n

    To give another perspective, often GTM plans have more focus on product and sales than traditional marketing and campaign plans. Writing on LinkedIn, Stanton Monlux recommends these 5 pillars of a GTM strategy<\/a>:<\/p>\n