7 Types of Go-To-Market: Creating the GTM Strategy for Your Business

Summary

In this episode of Closing Time, Chip House interviews Sangram Vajre, discussing the six types of go-to-market strategies: inbound, outbound, product, channel, event, and community. Vajre emphasizes that most companies use at least two of these strategies simultaneously and advises businesses to identify their strengths and prioritize the strategies that align with them. The conversation also touches on the importance of understanding buyer personas and adapting strategies accordingly.

Takeaways

• 📈 There are seven types of go-to-market (GTM) motions: inbound, outbound, product, channel, event, community, and ecosystem.
• 🤝 Most companies use at least two or three GTM motions simultaneously, with one often being particularly strong.
• 🚀 For 2023, companies should experiment with different GTM motions to find what works best for them.
• 💡 The choice of GTM motion should align with the company's strengths and the preferences of their target customers.
• 🎯 Inbound marketing focuses on creating content to attract customers, while outbound involves proactively reaching out to potential customers.
• 📊 Product-led growth (PLG) emphasizes user experience and self-service, with a focus on upsell, cross-sell, retention, and expansion.
• 🌐 Channel-led GTM involves partnering with resellers, agencies, and certified partners to expand reach.
• 🌟 Ecosystem-led GTM leverages platforms like App Exchanges and API-driven co-marketing to create a network effect.
• 🏆 Category-led GTM, now often referred to as community-led, involves creating a new market category and rallying a community around it.
• 🔍 Companies should assess their strengths and customer personas to determine the most effective GTM strategy, rather than blindly following trends.
• 📚 Intentionality is more valuable than trying to be brilliant; companies should focus on doing one or two GTM motions exceptionally well.

Q & A

What are the six types of go-to-market motions discussed in the podcast?

The six types of go-to-market motions discussed are inbound, outbound, product, channel, event, and community.

How many go-to-market motions do companies typically use according to the research mentioned?

Most companies use at least two, if not three, go-to-market motions working simultaneously.

What does Sangram suggest as a starting point for a company new to go-to-market motions?

Sangram suggests starting by identifying what the company is really good at and where they can find the best customers.

Why is it not advisable for a company to simply mimic the go-to-market motions of another company?

Mimicking another company's go-to-market motions can go wrong because each company has its own strengths and customer bases. It's important to leverage one's own strengths and market position.

What is the significance of product-led growth (PLG) in the context of go-to-market motions?

Product-led growth emphasizes the use of the product itself as a primary driver of customer acquisition and growth, often involving self-service and user experience.

According to Sangram, what is the key difference between PLG and traditional sales motions?

The key difference is that PLG often involves automation and monitoring product usage to drive upsell, cross-sell, retention, and expansion, rather than relying solely on sales representatives.

Why might a company choose to focus on a channel-led go-to-market motion?

A company might choose a channel-led motion to leverage resellers, agencies, and partners to expand their reach and market presence.

What is the role of marketing in a product-led growth strategy?

In a PLG strategy, marketing plays a significant role in creating a compelling product experience, personalizing communications, and guiding users through their journey with the product.

Why is it important for companies to experiment with different go-to-market motions?

Experimenting allows companies to determine which motions align best with their strengths and customer preferences, ultimately helping them to excel in the market.

What does Sangram mean by 'being intentional' when choosing a go-to-market motion?

Being intentional means carefully considering and choosing a go-to-market motion that aligns with the company's strengths and market position, rather than blindly following trends or trying to be brilliant.

How does the concept of community-led go-to-market motion differ from category-led?

Community-led focuses on building a community around the product or service that drives action and challenges the status quo, whereas category-led is about creating a new market category and becoming the leader in that space.