13 Steps to GTM (Go To Market and Get This Money)

Hey, hey, hey, hey, hey

What you say, get this money

If they say, what you gon' do today

Just say, 'hey, I wanna get paid'

'Ery day, 'ery day pay day

GTM. The approach to go-to-market (GTM) strategy can be the difference between a company that takes two years to find its footing and one that starts to Get This Money after a couple of months in market. It’s essential to have a well-thought-out GTM plan that takes into account all aspects of the product launch, from pricing to customer acquisition. Too many founders "wing it", or stake their whole GTM on a single launch plan (I may or may not have done this in the past). Don't be that founder - follow the steps below and nail your GTM. And pop into the replies with your own tips!

?? Define Your Target Audience

Before you can effectively market your product or service, you need to know who your target audience is. This means understanding their needs, pain points, and behavior. There is almost always a "low hanging fruit" customer for a new product - your job is to find the absolute easiest customers to convert and get them on board. Conducting customer interviews and creating buyer personas can help you better understand your audience and tailor your messaging accordingly.

?? Develop Your Brand Identity

Your brand is more than just your logo and color scheme. It's the personality of your company and how you want to be perceived by your audience. It's especially important to present a strong and reliable brand when you're a super early stage startup selling to larger enterprises: trust is a big factor in those first customer decision making processes, and if there aren't other big logos you can point to as existing users of your product, the perception of your company as a solid, backable brand is critical. Bonus: investors, press and potential employees want you to feel big/inevitable too, so this investment really supports a number of your key strategic pillars.

?? Create Compelling Content

Content marketing is a powerful tool for early stage startups. By creating valuable and informative content, you can establish yourself as a thought leader in your industry and attract potential customers. This can include blog posts, whitepapers, e-books, and more. Pro tip: start small, but be consistent. What data can you report to the market every month that's unique and compelling? Or, create a simple interview template, and invite industry operators to complete it to be featured on your blog. Then promote it via social media - it's likely the interviewees and their friends will do the same, with all that SEO juice and brand impression volume accruing to you. Do it a couple times a week for a year and watch your profile and perception increase.

?? Leverage Social Media

Social media is a cost-effective way to reach a large audience and build brand awareness. By creating engaging content and interacting with your followers, you can build a loyal fanbase and drive traffic to your website. Pro tip: lean into a specific subgroup where you personally have passion and affinity. Expertise in one narrow area can create a broader halo effect for your brand.

?? Build Thought Leadership

Positioning yourself as a thought leader in your industry can help you establish credibility and attract potential customers. Early on, you're probably doing this via hyperactive engagement with the industry on social media, but over time, this can include speaking at industry events, publishing articles in industry publications, and participating in online forums.

?? Develop a Sales Strategy

Sales should be founder-led through the series A, for most b2b SaaS startups. But that doesn't mean you can just run around emailing people and having meetings. Having a clear sales strategy is essential for converting leads into customers. What's the path to closing? First meeting, demo, trial, terms, contract, close? You can always adjust the stages and gates, but you need to be mindful of measuring how deals progress so you can apply energy to the ones that need and deserve it.

??? Implement PR Tactics

Public relations (PR) can help you generate buzz and build credibility for your brand. In this era of social media, your best bet is to find and thoughtfully engage the reporters who cover your space. You can't just create a press release and send it out.

?? Host Events

Hosting events can be a great way to build brand awareness and connect with potential customers. Bring experts and founders together for a casual dinner or happy hour once a month. If you build a platform - a podcast, or even just a recurring AMA session - you can even invite your prospects to serve as panelists or fireside chatters, giving you draw, content, and affinity, all while creating goodwill with the prospect by putting them on. Also works: hosting webinars, attending trade shows, and hosting networking events.

?? Measure Your Results

Measuring your results is essential for understanding what's working and what's not. You have to be able to tell, for example, how many of your Product Hunt leads converted to paying users.

?? Stay Agile

Finally, it's important to stay agile and be willing to pivot your strategy if something isn't working. This means being open to feedback and constantly iterating on your approach. Experiment frequently and if something yields results, lean in heavily and double down.

?? Analyze Your Competitors

Knowing your competitors is just as important as understanding your target audience. Take some time to research their go-to-market strategies. What are they doing differently than you? Are they targeting the same audience? What do they charge for their products or services? How are they positioning themselves in the market? Once you have a good understanding of their strategies, you can use that information to inform your own GTM plan and set yourself apart from the competition.

?? Use Automation

In the early days of a startup, it's essential to maximize efficiency and streamline processes. Automating certain tasks can help you stay organized and save time. Whether it’s setting up automated emails to prospects or creating a system for tracking customer feedback, automation can free up resources and help you focus on core tasks.

??? Monitor Your Progress

Monitoring your progress is key to success. This means tracking metrics such as user growth, conversion rates, cost per acquisition, and more. Analyzing these numbers and adjusting your strategy accordingly can help you optimize your go-to-market plan over time. Look for trends and use the data to inform decisions about pricing, messaging, and product features.

As I learned the hard way when I was a founder, having a comprehensive go-to-market plan is essential for early stage startups. It takes time and effort to develop the perfect strategy, but it's worth it in the long run. By following the steps outlined above and monitoring your progress, you can give yourself the best shot possible for success, and truly GTM.?

Author's Note: This article was written with an assist from Type.ai.