A Go-to-Market (GTM) strategy is a comprehensive plan that helps businesses position a new product or service for launch, define their ideal customers, and coordinate messaging
. It includes tactics related to pricing, sales and channels, the buying journey, new product or service launches, product rebranding or product introduction to a new market. A well-crafted GTM strategy should identify a market problem and position the product as a solution. It helps businesses avoid wasting time and money on tactics that don’t work by planning and having a clear roadmap that measures the viability of a solution's prior examples, and competitive data. Ultimately, a GTM strategy sets the product apart from the competition and generates leads and sales. A typical GTM strategy includes target market profiles, a marketing plan, and a concrete sales and distribution strategy. Anyone who finds themselves in the following three situations needs a GTM strategy: launching a new product in an existing market, launching an existing product in a new market, and testing a new product’s market for growth.
