Our simple 5 step 'MAPAP' GTM strategy guide, plus a one page template to ensure launch success
The countdown
Taking a new or revised proposition to market is much more than creating energy and buzz with a marketing launch and sales drive. Like any successful launch, success is ensured with effective planning - with all the component parts of your business aligned and in agreement before you commit to the 10-9-8 countdown. For FinTech, the stakes are often higher. Success has the added dimension of developing a value proposition that will drive interest and revenue, but in many cases, will also help secure next level funding. Failure isn't an option.
If one component part isn't ready, you risk the whole thing falling over
Whilst a GTM strategy is specifically focussed on a new product or proposition launch, wider planning starts long before the Marketing plan or sales warm up hits the launch pad. Start early enough to ensure you have both mindset and capacity to refine your solution. If the proposition is locked and loaded, then insight and feedback says you might be slightly wide of the mark, you have a problem. One that could easily have been avoided. This advice comes from painful experience!
Client first
A good GTM strategy is always client led. It starts by identifying your prospect customer, their pain points, motivators, purchase process and timeline. You need to identify the problem your product or proposition will aim to solve, then make a plan to position and communicate so it resonates. Stand out from the crowd by saying something meaningful. Something that talks to their world. Understands their pressures. Let's not lead the narrative with how clever your solution is - that bit comes later in the conversation.
Keep it Simple
A Go to Market Strategy doesn’t need to be a large document, but it does need to bring together an agreed view on a broad range of factors. It shouldn't be all “sunny side up” either. Capture the key risks and threats to help you monitor early stage progress.
Your GTM strategy should cover the bases:
Market size and maturity - and where you think your solution fits
Target Audience and Distribution Channels
Competition - and what sets you apart
Pricing and Profit
Marketing/Sales Positioning and Approach
Business readiness – and how you plan to meet demand
A 5 point launch strategy
It’s important that you have both clarity and agreement across the business – a GTM launch will involve several stakeholders and their functions. Our template will help you do that – and identify gaps or issues that need to be addressed. It’s called MAPAP for short:
1. Market & Aim
Capture the macro market trends, addressable market and any key players in the market. Understand your target audience and influencer profile – types of organisation, decision maker roles and some insight into their challenges, drivers, purchase process and timing. Include existing clients, acquisition targets and influencers such as management consultancy/advisory. This will help you with positioning and approach.
2. Approach
Is the Market you are aiming at mature, nascent, fully understood? Are you an established player or a disruptive new entrant? These questions will help establish the balance of your resource and focus – for example growing awareness, educating through thought leadership, or placing more weight on direct response marketing and 121 conversations.
3. Presentation & Proposition
What you say needs to be compelling for the prospect audience. You need to position your value proposition, build trust in your capability and drive interest. This part of the plan covers the key outcomes, your message framework (proof points) and the mix of activity – PR, Social, Growth Marketing and Thought Leadership.
4. Administration & Execution
Success is built on good preparation on two levels. Operational readiness and Marketing readiness – Is the proposition tested and signed off/ready (even if it's a Day1 MVP)? Legal, licence and 3rd party requirements locked down? Are operation and sales teams briefed/ready? Have Marketing got their campaign set up – CRM data/lists briefed, campaign idea and collateral approved, paid media agreed/booked, landing pages, social and so on? As you move to a Go/NoGo point - full commitment with risks understood, be clear on what needs to be completed and by when. List requirements, timelines and assign owners.
5. Profit/Pipeline
What gets measured gets done – You'll need to have a series of short and mid-term targets. This is often a hard nut to crack. Smoke and mirrors may prevail over transparency, but a GTM strategy needs to consider margin to ensure success. Both off the shelf and complex enterprise sales have either a perceived or real view on price and value for money. How does price compare. Is there flex, or an offer to accelerate traction in early stages. What needs to come into the pipeline v anticipated conversion rate to meet revenue targets.
Plan for Success
With agreement on approach and readiness across all your stakeholders, you can be much more confident of success. But success depends on live management - especially in the early stages. Gather feedback, adjust and refine. Flex levers where you need to. Agility is important.
Further help
If you need help to shape your GTM strategy, one of our 'at need' Fractional experts can help you. You’ll find availability and rates here
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