As the owner of a small-to-midsized business (SMB), you need to have an effective go-to-market strategy in place to ensure the success of your business. According to a study, around 95% of new products do not succeed, and this is because of the lack of a strong and robust go-to-market strategy. Irrespective of how great your product/service is, it may not succeed without an effective marketing strategy.
In this post, we will take a look at what is a go-to-market strategy and also provide you with some essential tips on how to build an effective and successful SMB go-to-market strategy.
What is SMBs Go-To-Market Strategy?
In simple words, a Go-To-Market (GTM) strategy refers to the action plan that enables a company to reach its intended audience. The primary objective of developing a successful SMB GTM strategy is to improve your customer experience by offering world-class products and services at competitive prices. Having the right GTM strategy will ensure both short-term as well as long-term success. Having a robust GTM strategy offers several benefits, such as:
- Creating a clear growth plan
- Reducing the time to market
- Offer enhanced customer experience
- Increase your success rate of product/service launch
- Be more flexible and adaptable to challenges
Top 10 Tips for a Successful SMBs Go-To-Market Strategy
Here are some of our top tips for you to design and develop a successful SMB Go-To-Market strategy.
Having a clear and well-defined goal and budget is absolutely critical. Having measurable goals will help you to track the effectiveness of your GTM strategy, while having a pre-determined budget will help you fulfill your goals and ensure that you stay on track. By clearly outlining what you want to accomplish, you can increase the success rate of your SMB GTM strategy.
When it comes to building an effective GTM strategy for SMBs, you can never go wrong with content marketing. Today, the majority of the world relies on digital media, so in order to have a successful SMB GTM strategy, you need to build up your online presence. This can be achieved by creating blogs, infographics, podcasts, eBooks, guides, etc. Irrespective of which format you choose, ensure that the content is relevant to your targeted audience and keyword-focused.
As mentioned earlier, we live in the digital world today, which means that you need to have a strong foothold in cyberspace. SMBs must ensure that they have a visually appealing and user-friendly website. Having a well-designed website is very crucial when it comes to building a successful GTM strategy. Your website is your one-stop platform where your customers can find information about all your products and services. So, you must ensure that your website is clean, mobile-responsive, user-friendly, and fast.
Social Media Engagement
One of the best platforms for SMBs to connect with their audiences is social media. In order to take advantage of social media to build your GTM strategy, you must first analyze the various social media platforms and determine which are the main platforms where most of your audience is present. Based on the platforms, you can start developing engaging content, advertising campaigns, etc. You must also analyze how well your social media content and campaigns are performing and tweak them as necessary.
Search Engine Optimization (SEO)
Finding and reaching more leads is one of the primary goals of every marketing strategy. Hence, SMB owners must gain knowledge about SEO and understand how best to leverage it. The two main things that you need to focus on with SEO is optimizing your user experience pages and inserting the right keywords in your content. When you have the right keywords, it allows Google to show your page on relevant searches. Without a Google listing, it will be really difficult for your customers to find your website and content.
Personalized Email Campaigns
Email campaigns are one of the best ways to connect with their audiences. Sending out personalized emails is a great way to not only promote your products and services but also build a more personal relationship with your customers. Email marketing is not just about sending content; it also encourages your customers to interact with your brand, check out products and buy them, etc. To make your email marketing more effective, ensure that you invest in email marketing tools.
Website Optimization for Mobile Devices
With smartphones becoming the norm, it is not surprising to see that most Google searches are done on mobile devices. This means that your website should be mobile-responsive and easy to navigate when accessed via smartphones. Also, Google rewards you with a higher ranking if you have a mobile site which can be beneficial when you are implementing SEO. If you are not confident about building a mobile site, we recommend you take advantage of CMS platforms like HubSpot, which come equipped with mobile-optimized templates.
Highlight your Distribution Channels
One of the best ways to ensure that your customers are up-to-date with your content is to highlight all your social media accounts so that your customers can follow them. The best way to do this is to highlight the social media icons and newsletter sign-up CTA on your web pages. But ensure that you place them in such a way that they do not distract your customers from the main content.
New Marketing Experiments
Trying out new marketing experiments or a new social platform can definitely work in your favor because if the experiment works, then you can stay a step ahead of your competitors. But ensure that before you try any of the experiments, conduct thorough research about it and outline your goals and objectives. This will enable you to stay on track and also measure whether the experiment was a success or not.
Remarketing is one of the best ways to reengage with your customers who have previously engaged with your website. It is an effective way to increase your sales as most of the work has already been done. The purpose of remarketing is to remind your customers once again about your brand and products. For SMBs, remarketing is an easier and cheaper way of reconnecting and reengaging their customers. You can also use your social media platforms for remarketing with your previous contacts.
For SMBs, launching a new product or service is always exciting; however, its success relies heavily on having an effective and detailed Go-To-Market strategy. It is crucial to understand your product’s market and target audience and then create your sales message accordingly. We hope these tips help you in creating a successful Go-To-Market strategy for your SMB.