How do you know the best way to go-to-market with your new product, service or solution? Every business, even the small ones, have options. By go-to-market, I mean channel selection, which is distinct from channel management.
Consider the target market. Going-to-market should be based on what the customer will appreciate and understand. It should not be based on what the organization has always done or what is most expeditious. The channel must add value. Customer in always better than supplier out. Strive to meet customers where they are and message to them in their voice about their needs or wants. Keep costs low – for everybody. On-line channels are so tempting, because of the extended reach and apparent low-cost. Consider that if a sales call costs $150, a single on-line impression costs $5. These are not the same thing of course, but the cost difference is so significant that you have to consider an on-line channel for almost any new product, b2b or b2c. Keeping in mind that a sales call also does not always result in a sale. The on-line choice is easy if you believe it will sustain sales and long-term profitability. Usually some aspect of the on-line channel is debatable.
# of sales calls x cost of sales call x success rate
# of on-line impressions x cost of impression x number of impressions to achieve a sale
What are the key questions?
- Can we influence the channel and align it to organization goals and customer needs?
- Can the channel be scaled up or down to meet customer demand?
- Can the channel sustain growth and profitability?
Senior marketing managers should address these questions and prepare and present the go-to-market plan. The plan will include input from the sales leadership and the chief marketing officer.