Go To Market Planning
All systems go to market
Whether it’s a new service or product, a new brand or a deep repositioning of what you currently are, driven by either new trends, the competition or to reflect the needs of internal reorganisation, “Go To” Market Planning has some important differences in how you would normally set about developing a strategic framework for communications.
Go to market strategy is key
Technically, the “Go To” plan follows the establishment of the Marketing Plan – the “what, why and who” of objectives. It relies on much of the information and processes that we have discussed previously, but introduces some more ‘need to know’ points.
These will include:
- Business case – An explanation of why what you are planning is needed.
- Market opportunity – What problem(s) are solved?
- Market opportunity proof – How are the opportunities met and solved?
- Strategic timelines – What is the goal (ROI/Awareness/other) in six months or any other given time frame?
- Customer definition – By typology, demographically, psychologically, profile and persona. How do these differ from those that are targeted by any other part of your business?
- Market definition – What is the target market(s)? How big are they and what currently fulfils the need (if anything)? What share could you hope for?
- Research – What research from any source will be useful or imperative in order for you to be able to understand everything you need to know from the above list?
- KPIs – Measurement against objectives.
Other key aspects of the marketing mix
- Budget – How much can you reasonably afford to invest? This will determine many other factors in the coherence and sequencing of the planning.
What trends are there, either now or emerging, that could help you with early capitalisation?
As in all cases to do with marketing planning, what is likely to be the competitor response? How easy would it be to replicate or override what you are doing? Again, a full competitor review not only of current status but potential for disruption based on capability and likely opposing resource will be needed.
Building for success
A successful marketing strategy will be built upon all of these factors, which should also include an identified procedure for Beta testing and how you will get feedback and incorporate the findings into the planning process.
You will also need to consider pricing strategy, how the new product or brand fits into an existing portfolio or an existing master brand (in the case of a monolithic brand strategic model) and how the master brand may be affected by the inclusion of the new offer.
Other factors such as price positioning, channel mix, staff training and how the deployment of a new departure (or a new venture) will be conducted internally by people who are totally aligned with the purpose, aims and objectives of the brand and reflect its true personality and character.
For “Go To” market strategy, go to LAW Creative…
LAW has designed many successful “Go To” Marketing plans that have worked exceptionally well – and case histories are available on request. Just drop us a line and we’ll be happy to share our success stories with you!
It can be a complex business, but with our expertise and knowledge, creating your successful marketing plan is simplicity itself.