As a key part of a strong commercialization plan, a go-to-market (GTM) strategy uses various promotional tactics and marketing channels to get maximum exposure after your launch. It works to circumvent the 95% failure rate in new innovations. Will you be part of the 5%?
First, it’s important to understand how a GTM strategy (also called a launch plan) differs from a commercialization of innovation (CoI) strategy. Essentially, it’s the process of bringing a fully-developed product or service to market for the first time. It’s part of a broader commercialization plan, which starts long before the product is developed, and continues long after the launch.
There are 8 strategic and tactical concepts of marketing. A CoI strategy covers all 8, while a GTM strategy takes place after the product and timing concepts are already complete.
We’ll craft a targeted go-to-market strategy that makes decisions about when, how, and where to make your innovation available to consumers. This involves steps like:
Determining optimal positioning among competitors and in the eyes of potential customers
Identifying strong early adopters and catering efforts toward earning their buy-in
Developing ads, marketing, and other consumer-facing messaging and materials
Conducting market research to identify optimal marketing and distribution channels
Securing those channels, which may include partnerships with other entities
Choosing optimal pricing, like a skimming vs. penetrating model that balances financial risk
Instead of robust, static annual plans that quickly become outdated, we use real-time data insights and 90-day planning cycles to help our clients achieve better healthcare marketing outcomes.
This process helps ensure we’re always working on the items that matter most to your success.