5 Challenges in GTM strategy for a new product when dominant(s) product exists in that

category

A Go-to-Market strategy is associated with the most critical issues and opportunities at the time
of new market entrance or new product launch. A perfectly strategized GTM strategy helps the
firm attain success and growth by enduring market changes and competitive advantages and
achieving efficient outcomes. Strategizing GTM comes with its own set of challenges.

 Deliver Value Proposition across all channels

This involves creating a proper product perception in the minds of the consumers and
prospects. This could be overcome by
o Conveying appropriate offering value
o Analyzing customer journey and pain-points
o Segmenting customers
o Differential Pricing
o Choosing right sales channels ad approach
 Measure up to the front-line
The main struggle is to make your employees perform according to key customer
metrics in the evolving or new market trends. It is essential to train the employees and
align them with the GTM strategy. This could be done by
o Customer Support
o Sales Training Support
o Efficient Key customer metrics understanding
 Efficient Territory Coverage
This can be done by having
o Set Sales territory
o Goal and well-defined targets
o Optimize territory division
o Tracking and comparing territory results
 Effective Marketing and Promotion techniques
Due to changing buyer behaviors and market trends, it is becoming increasingly difficult
to come up with an effective marketing and promotional strategy also keeping the
advertising budget in mind. This could be achieved by
o Using Efficient Marketing tools
o Demand and lead generation
o Efficient Public relations and advertising campaign
o Internal marketing
 Being in synchronization with current market
We need to have proper
o Product definition
o Market definition
o Business model alignment with current trends
o Clear picture of the Competitive landscape
o Competitor’s product offerings and value proposition
to be in synchronization with the current trends.