So you have a kick ass new product you want to introduce to the marketplace, unfortunately hard part isnt over yet. Obviously thats not the news you want to hear but it's true. Luckily it dosent have to be so hard. Here we will briefly discuss bringing a new product to the market and hopefully with a bang! A B2B go to market strategy is actually a pretty simple formula but is really easy to get lost along the way. Even the best marketers sometimes make it complex, and then spend precious market time trying to get it back to the time tried process in hopes of getting real traction. Simply put we are not going to reinvent the wheel. We are going to be straight forward and honest with potential clients because your expertise is what will win them over. Repeat to yourself "stick to the formula" and you will do great.
The Formula:Go To Market = Niche Research + Shrink Your Niche + Differentiate
1 - Niche Research
Its obvious, research who your ideal customer is. Ideally you do this research as you build the product and craft the product to fit perfectly with your ideal customers. When doing your niche research, you will want to find out as much as you can with data and cold hard facts. Look at your target market and search to find out what stage of life the market is in. Hopefully before the product was built you have found and thoroughly researched your competitors in regards to price, functionality, and so on. The point is there are a million things to research here the more you know (facts) the better your products positioning will be. Please take the time to research this even if you already think you know it perfectly, you can always refresh with the facts.
2 - Shrink Your Niche
Now that you have found your niche, I want you to do something that sounds just plain dumb, make it smaller. From your niche research you have found a pocket of potential customers, now within that niche filter out the people that want your product until you only have only people that need it. This is your sweet spot. Your list should be small and very manageable now. The idea here is you break it down to people that need it and are going to buy for sure. In B2B the purchase price of the products can some times be huge so the first few sales are really really tough. Once you have successfully launched your B2B product then you can expand your scope and get in to your more typical B2B marketing, once your B2B go to market strategy has successfully played out.
3 - Differentiate
Finally all we need to do now is carefully differentiate you from all your competitors. This step we leave to last because you have to first become uber familiar with your niche. We take the research and the sweet spot you found earlier and find a way for you to stand out among the crowd to just this target. In the show Mad Men they helped a cigarette company differentiate by taking one step of their process and putting a heavy emphasis on it, toasted. The tobacco company featured adds showing how they toasted the tabacco before putting it in the cigarette and it quickly became part of the brand.
If you can craft a message that is different enough from competitors but still resonates with the target market you have done your job. Once these three elements are established, every decision should be aimed at reaching your target market to help keep you different from everyone else.