MARKETING and delivery were major factors for us , for example . This will further inform you about how your customer becomes aware of your brand , how they interact with it , and what they experience throughout the process .
Step 3 : Developing your Brand Positioning
In this age of globalization and a highly competitive market , brand positioning is inevitable . It is the brand positioning that lets the company establish itself in the minds and hearts of its target customers . In simple words , brand positioning is how you differentiate yourself from your competitors . It is how customers would be able to identify your brand . Brand positioning is about the key values and qualities that are synonymous with your company . A variety of methods are used for brand positioning . The positioning strategy examples include voice , tones , and visuals as well as the impression that your brand creates .
The process of developing a brand requires a huge marketing investment both in terms of time and resources . As a company , you will need to do a lot of marketing and PR campaigns to achieve the desired positioning . Our
Step 4 : Defining Your Unique Value Proposition
A unique value proposition ( UVP ), or unique selling proposition ( USP ), is a concise , straight-to-the-point statement about the benefits you offer customers . In other words , it ’ s an explanation of what makes you different . A UVP or USP is not , however , a slogan , catchphrase or positioning statement .
A good value proposition needs to be easily understandable , communicates concrete results a customer gets when they make a purchase or use your products , and differentiates you from the competition . Our USP is , ‘ Your One- Stop Shop For All Global Brands .’
Step 5 : Pricing Your Goods
Here , you ’ ll want to define your product pricing and estimate costs associated with your GTM strategy . When coming up with the pricing strategy to adopt , several factors will be in play . Will you price your products low to attract more customers , or will your price be premium for maxim returns ? The pricing strategy chosen will have major strategic impacts on your business and the direction your business will take . Based on the first step we developed ( market definition ) what is your goal ? Is it market penetration or market skimming ?
Step 6 : Select Your Distribution Channels
The next step is figuring out your products will reach the customers you have identified . Here you look at where the customers are located , and the logistics required to get the products to their locations . Considering the nature of the business that Xing Yung Global is involved in , the most appropriate way to reach our customers will be by having warehouses and logistics at strategic locations .
“ The goal of a GTM strategy is to improve key business outcomes . This is mainly accomplished by aligning with the evolving needs of your customers . Developing a comprehensive GTM strategy is an investment in time and resources , but it can help illuminate and ensure a viable path to market success ”
Step 7 : Formulating Your Promotion Strategy
By now , you have adopted a path you want your new business or product line to take , so it ’ s time to figure out how you will create extensive awareness in the market . When developing your promotion strategy , your goal at this formative stage will be to position your brand and create a competitive advantage of your offering . Also , it will be important to know that your marketing objectives and key performance parameters will be different at each stage of the product life cycle .
The development of a marketing communications plan will depend on a perfect understanding of your target audience and their motivations . Choice of mediums will also be crucial , and more emphasis should be placed on channels that are relevant and impactful .
Step 8 : Resource Allocation
Once you ’ ve defined your market , price , and channels , you ’ re now ready
Step 9 : Evaluation and Monitoring
For the GTM plan to work , you will have to adopt the Kaizen Philosophy of creating continuous improvement . It is based on the idea that ongoing , small changes can reap significant improvements . Evaluation and monitoring involves jotting down objectives and key result areas ( OKRA ), commonly referred to as key performance indicators ( KPI ). Remember , the measurements should be holistic , i . e . capture both qualitative and quantitative indicators of marketing activities .
Conclusion
In conclusion , an effective GTM should delight your customers and surprise your competition . Now , I would like to leave you with wise words from Sun Tzu ’ s classical text , the Art of war : “ If you know the enemy and know yourself , you need not fear the result of a hundred battles . If you know yourself , but not the enemy , for every victory gained you will also suffer a defeat . If you know neither the enemy nor yourself , you will succumb in every battle .” ■
Geoffrey Sirumba , is the Commercial Director Tian Xing Cloud Kenya Supply Chain Limited , a subsidiary of Xing Yun Global , China . Feel free to reach him via email at :
Geoffsirumba @ gmail . com or
@ geoffsirumba on Twitter .
MAL 44 / 21 ISSUE 63