Let's Go to Market!
Hanoch Mario Tauro
Sales Compensation Business Operations | Customer Success | Business Process Transformation
Go-to-Market is the strategy an organization employs to deliver their value proposition – products/ services to it’s target customers by employing different creative channels thus ensuring the best customer buying experience.
Go-to-Market Strategy is focused on how to sell: how the organization will put offerings into the market to reach market penetration considering revenue and profitability aspects. On the other hand, Marketing strategy is focused on who to sell to and what to sell. It can be said that Go to Market Strategy supplements the Marketing Strategy. In smaller or medium size industries, this is a part of the Marketing strategy but on the other hand for Multinational firms- selling various SKUs in various bundles to various types of customers, the Go to Market Strategy becomes ever critical for an extensive market penetration.
During creating the Go to Market strategy, an organization will have to decide on whether the offering should be sold through a direct sales channel or a Partner channel or a combination of the two.
Direct sales Channel is when a company sells its products and services ‘directly’ to its client or customer base without an outside party involved. Direct sales is the conventional approach of selling directly to your customer.
Partner Channel are firms that provide selling expertise to help market penetration on behalf of a software or hardware vendor. Partner Channel gives powerful leverage to an organization by adding additional sales resources and the organization can take advantage of existing customer relationships that the channel partners bring to the table.
Managing Partner Channel is very complex, time consuming task and significantly impacts profitability. Finding ways to improve collaboration is the key for success. Hence, a perfect delicate blend of Direct sales-force and outsourced sales-force through strategic partnerships with different Channel Partners proves to be effective for growth and market penetration.