9 ADVANTAGES AND DISADVANTAGES OF DOING GO-TO-MARKET STRATEGY

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All business decisions have their advantages as well as disadvantages. And it is important to consider them before making a choice. Entering a new market and creating the go-to-market strategy are the biggest challenges for business owners. Go-to-market strategy is the basis of how your business wants to engage with new clients, convey product cost, set up powerful relations, and achieve business aims on the new market.

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INTRO

9 ADVANTAGES OF DOING GO-TO-

MARKET STRATEGY

19 DISADVANTAGES OF DOING GO-TO-

MARKET STRATEGY

2

It is common knowledge that a clear plan helps us to be focused on solving our challenges. In its turn, go-to-market strategy helps to focus on the new market entry. This allows concentrating on every element that influences your overall strategy.It is also important to divide your strategy into smaller actionable activities that help to ease the process of the market entry. And the staff of the digital agency will help to complete these tasks.

9 ADVANTAGES OF DOING GO-TO-MARKET STRATEGY

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1. KEEP YOU FOCUSED

2. HELP TO DISCOVER USP (UNIQUE SELLING PROPOSITION)

Do not imagine that you are selling just your product, you may be in a bad position from a promoting point of view. People search for answers for issues they have, that is why they look for products that give those advantages. You become superior to your competitors when you have a unique selling proposition. It can separate you by showing to clients how your new product will take care of an issue in a way your competitors will not. At the core of your brand marketing strategy has to be your unique selling proposition.No one knows better the exclusive features of your product than you. We can also discover additional highlights of your offers while creating go-to-market strategy. Then our team can add them to the promotion campaign and guarantee the target audience notice your product or service.

You have to know exactly what needs your potential customers because you can fail to try to encourage customers to buy products, no matter how good they are. You should also know that customers often have a list of requirements. And we help our clients to define these requirements to choose the best marketing strategy and increase your future sales. Marketers can also try several hypotheses about your target audience and find their needs and wants.

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3. MEET THE NEEDS AND WANTS OF THE TARGET AUDIENCE

4. PROMOTE YOUR BUSINESS TO THE POTENTIAL CUSTOMERS

The study found that more than 75% of business owners consider social media ads and Google Ads as the top sources for promotion. The social network allows you to find your target audience, interact with them, share relevant content, and drive traffic to your site. For most brands, we recommend starting with Facebook and YouTube. Those social networks have many active users, that is why they are the most powerful ad platforms. Depending on the target audience, we can also set up ads on LinkedIn, Instagram, and Twitter. Each social media ad consists of an image or video, text, and link to your website or profile in the social network. We handcraft each of these elements in corresponding with the personality of your target audience and business on the whole.

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Demand is just another word for “requests from customers.” If you know online demand, you can plan your next steps and simply feel more confident and secure about the future of your company. Obviously, it has no sense to be presented on the market where is no need for your products or services. We use online tools that allow us to find out today’s search trends and which are only gaining popularity. Our team can also explore how to use Google data to create quality content on your website, keep up with the latest trending searches, see what was popular on Google by year.You have to know the online demand helps to improve SEO (Search Engine Optimization) and content marketing of your brand because you can find what questions and issues interest your customers.

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5. DETERMINE THE DEMAND FOR THE PRODUCT OR SERVICE

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Remember, you should never forget about your future competitors. Even if you have a successful business, you can lose your selling point one day. Competition is always high, and you have to know everything possible about it. We usually analyze 7-14 direct and indirect competitors to find the best features and trends. It can help your business to become a market leader. I am sure that you want to know better the customers of your potential competitors. We can do benchmarking research to find an answer to this question. The aim of this service is the analysis of the buyer’s journey, comparison of your performance with competitors’, finding the ways to become more competitive. We can discover what features appeal to the customers, what strategies the competitors use, and how to attract their clients to buy from you.

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6. REVEAL THE COMPETITION

Go-to-market strategy protects the company from unpredictable economic conditions and help to overcome the challenges that the market entry may face. Your business can enjoy the benefits for many years with a robust go-to-market strategy.Moreover, the strategy increases your ability to make more profit in the long run. Initially, creating the strategy requires investment. But as a result, entering new markets increases long-term cash flow. Moreover, if your home activity becomes lower, your business does not hurt much. You have the other markets that get more income. This makes your profits more stable.

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7. LIMIT RISKS AND BOOST OPPORTUNITIES FOR THE MARKET ENTRY

8. FIND THE WEAK SIDES OF THE BUSINESS

Are you sure that you know the weak sides of your business? It is not an easy task because you think that your brand is flawless. Like an iceberg, you can see only 20% of the business conditions. But you can find pain points in another 80% of your business.Our team usually checks the business conditions of the clients before doing go-to-market strategy. We are ready to help you reduce the chances of failure and find solutions to the pain points of your company.

Branding is the recognition of your product or service by its name. I think you want to be remarkable for the clients. So, our team can help to develop a solid brand strategy. It will help to promote your product or service on the new market. Branding allows you to compete with more experienced and recognizable companies. You should anticipate building a noticeable brand that can draw the attention of your potential clients. You should concentrate on authenticity so your business can dominate but only with a careful brand strategy.

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9. BUILD BRAND AWARENESS

I partly agree with this disadvantage. But if you hire us, you can continue doing your business while we are developing your go-to-market strategy. Our team understands that you want to see the results as soon as possible, but in any case, we should do it effectively. The creation of the go-to-market strategy takes no less than seven weeks, but no more than three months. Usually, we need three months to show you our findings. I am sure that you have other important challenges to solve at this time.

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9 DISADVANTAGES OF DOING GO-TO-MARKET STRATEGY2

1. LONG TO CREATE THE GO-TO-MARKET STRATEGY

I agree that it can be difficult to create a strong go-to-market strategy for the business owners but not for the professionals. Digital market entry is the sweet spot of our firm. My colleagues create a market entry strategy based only on solid and verified data. We are responsible for what we do.The digital market entry strategy is the best one if you run or if you want to run a successful online business. We can help you to test the new market without big investments. It can save your budget at the initial stage and put it, for example, into promotion.

2. DIFFICULT TO DEVELOP THE ROBUST GO-TO-MARKET STRATEGY

I partly agree with these statements. But are you sure that it is better to enter a new market blind? In this way, you will not be able to save your business investments when your brand fails. Your cash losses can be huge, and you can even lose the business. No one wants to have such problems. It is more reasonable to spend a small part of the budget on doing go-to-market strategy. Thus, you will be sure that business investments are safe.On average, the creation of the go-to-market strategy costs €6,000. Your business values more for you, does not it?

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3. GO-TO-MARKET STRATEGY IS EXPENSIVE

4. TOUGH TO TARGET ALL POTENTIAL CUSTOMERS

I completely disagree with this statement. Digital go-to-market strategy can target all groups of the customers, find their pain points and needs, set effective social media ads.

We collect only relevant and useful information about the target audience and recommend how to use it in practice. As a result, we target all potential customers on the new market.

I agree that it is hard to investigate the demand on the market because it changes all the time. We determine the demand on the market during market research. The results of market research provide insight into the target market, help to identify opportunities, recognize market shifts, monitor the competition, and mitigate risk in business decision-making.

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5. DIFFICULT TO DETERMINE DEMAND

6. HARD TO DEFINE APPROPRIATE MARKETING CHANNELS

The marketing channels are different social platforms via which you try to reach your target audience. I understand that is hard to determine appropriate marketing channels with no information about your target market. But our team of professionals can define what social networks your customers use more often. It helps you to understand what marketing channels are better to apply. We consider all groups of the target audience, including influencers, decision-makers, end clients among others. Moreover, marketers can set social media ads and engage more clients to your website.

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RESEARCH SERVICE

It is hard to present your product or service to the new cultural groups of customers. But we can give you all the necessary information about them and use it to adjust the strategy to the culture of the new market.I can see only benefits in the new market culture. When a company is presented in many markets, you interact with different cultures every day. It can give you good lessons. It makes your business stronger by selling the products or services to more people.Many business owners know that foreign investments are exceptionally appreciated for the business. The strong go-to-market strategy may be the reason that foreign investment increased. The acquisition with different cultures allows getting more investments and use them for the company’s development.

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7. DIFFICULT TO ADJUST THE STRATEGY TO THE CULTURE OF THE NEW MARKET

8. CAN BE INEFFECTIVE DUE TO BIASED DATA

Condition in the market changes so fast that the information you have today can be inaccurate tomorrow. How can we help? We gather just relevant and useful facts and genuine insights special for your go-to-market strategy. You have to understand that it is easy to find information about the target market that you already believe in. But only realistic data will be useful for your aim – new market entry. That is what we do. Marketers do go-to-market strategy only with tested information. Each page of the strategy has attached sources. So, you get a solid strategy on which they can rely on.

I want to give you one advice: never concentrate on one process during market entry. I believe that you want to engage more customers but never forget about the competitors and the market in general. We can help you to minimize future risks and give recommendations about running your business.A road map for 1-3 years is an inevitable part of the collaboration between the business and the marketing agency. Our team thinks about engaging the quality and efficiency of the business inside the market. Marketers take care of the future condition of your company and advise you on what to do next.

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9. MAKE TO CONCENTRATE ONLY ON THE ONE ISSUE

CONCLUSION

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We have discussed the advantages and disadvantages of doing go-to-market strategy. As you can see, the benefits of it are impressive. It limits your risks and boosts your opportunities in several times. And the collaboration with the market research company can address the drawbacks of the strategy.

We are confident that digital go-to-market strategy has no disadvantages. Our team creates a personalized strategy for your business that includes many components and features. We pay attention to the implementation and adaptation of your products or services to the market. Marketers concentrate on all details of the market entry and this complicated task gives great results for our clients.

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Adloonix is an independent digital marketing agency which provides the relevant market researches & multichannel CX strategies for international brands and startups.

We make businesses remarkable by helping them become more profitable, generating more leads, simplifying their business processes and decreasing their marketing & sales expenses.

Our team increases brand awareness and drives higher quality leads to sales with the proven use of the data-driven services, ensuring on-time implementation.

Here are the key services we offer:- Market research - Customer experience strategy- Mobile/content strategy- Web/app development- Web/app design- On-page/off-page SEO- Google Ads- Social media ads (Facebook, Instagram, Linkedin, Youtube)

If you want to succeed online and you’re ready to explore the options available to you, drop us a line with your case! We will be glad to choose the best solution directly to you.

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