Your go-to-market strategy is how your business will engage with a set of customers they want to serve in order to deliver growth and profits. It contains all of the work that a marketing unit must do to generate growth and profits. An effective go-to-market strategy must be aligned with and driven by a well-articulated business strategy. The business strategy provides the basis and framework for the marketing strategy.
Before you do a deep dive into marketing strategy, your business strategy has to be well-defined and understood throughout your organization. Build organizational capacity and capability that align with the market demands. Use customer and market learnings to drive strategic decision making to. Having clear objectives is critical for business strategy. The Collis Model [1] clarifies the work required to develop a business strategy.
The advantage is the power of an effective value proposition that has advantages over your competition. Mapping out the elements of your strategy and the framework for its execution is the ideal connection between the strategy and the work of the organization.
It is the foundation of a strategy-focused organization where there are a few vital performance drivers. A successful business strategy delivers its objectives.
By definition, that means the revenue it generates must be profitable. Revenue, growth, and market share are irrelevant if your strategy does not achieve profitability. Businesses only thrive if they are profitable. A winning business model is one that delivers sustained profitability. The company that focuses on operational excellence focuses on eliminating costs and keeping the product simple.
