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Go-to-Market Strategy – Defining the Target Market

Go-to-Market Strategy – Defining the Target Market A company's go-to-market strategy is flawed from the start if the target market is not well-defined. If the target market is not clearly defined (based on use cases), and there is no compelling messaging, companies will struggle with execution, resulting in high turnover, low close ratios and finger pointing between sales, marketing and de velopment. ENENE Many organizations glaze over market sizing after they gain internal funding or raise money externally. Unfortunately, the market sizing that is typically performed to gain funding is realy focused on getting an audience excited about the size of the opportunity. In many organizations, the market sizing exercise is a stand alone exercise that is not integrated into the go to market strategy and does not serve to guide sales, marketing and development. Served Market SonD MAMeasuremene e potenta ssOMn Revenue Addressable Market Beach Head s M n Voume) A wel-defined market and corresponding use case are critical for an organization to create value drivers and unique selling propositions for the persona's involved in the purchase process. Marketing & Sales Timeline Market sizing is the tip of the iceberg and a critical component in any go-to-market strategy that sets the first domino in motion and will serve to document use cases, value drivers and differentiators. Determining the size of the market opportunity means different things to different people. ields or ttributes Parent-chil Relatioship For start-ups, the focus tends to be on documenting the largest market possible so a tremendous upside exists for investors. provide specialist knowledge to Project arget who produce MarCons tailoredto target markets by Strategic Marketirng Often times, the same is true inside an enterprise. Inside an enterprise, the goal is to obtain resources to pursue a perceived market opportunity and bigger is often time perceived to be better. Unfortunately, both of these scenarios tend to reflect more fiction rather than reality. Read more at Hare.

Go-to-Market Strategy – Defining the Target Market

shared by Eteenedruin on Jun 15
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A company’s go-to-market strategy is flawed from the start if the target market is not well-defined.

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