Many start-ups reach series A funding each year but fewer than 5 percent (around 4000 in 100,000) are able to prove their mettle when it comes to getting capital from renowned VC firms. But for those companies that do survive and thrive in these competitive times, demonstrating the potential of the product is not enough.
The next challenge for your internet marketing company is how to create a sustainable revenue stream by selling your product, so that product offerings can be developed, infrastructure can be rebuild and investors can receive a solid returns on investment. Scalable go-to market strategies are the reason why the successful businesses are able to power their brand. Finding the right routes to market and according this priority is what separates companies who are successful and growing from those that are not.
Go-to market strategies need to focus on deciding between direct sales forces or selling indirectly through channels. If direct sales channels are chosen, are sales teams to be organised as per market, company size, industry, geography or another principle? Will sales persons work in teams and require further technical training? Additionally, do sales also come with maintenance and how will the services/products be prized? But the really important consideration for the internet marketing company is eventually understanding the perspective of the customer.
- Know Your Customer
The internet marketing agency needs to take customer perspectives into account to understand how to approach the market. They should consider what customers are trying to achieve and the problems they will solve. The focus should be on helping their product to be successful. For example, an internet marketer like Pathwwway limited. needs to focus on not just the virtues of the product while prioritising routes to market, but also consider the customer’s problems and pain points.
- Choosing the Perfect Go-To Marketing Strategy
A sales mindset that focuses on consultative selling is essential, while formulating the perfect go-to-market strategies. Figuring out how one will go to market is not a one time exercise for companies; it needs to be an ongoing process. Internet marketing companies on your team need to work on being constantly informed through deeper understanding of customer needs and how products meet them.
For example, if you need to accelerate growth, start by identifying specific customers in the B2B or B2C space that your business needs to target. Once this completes, the aim is to experiment with the go-to market approach with the expectation that you will refine and change this strategy on the basis of further experience and insights.
- Opting for the Right Route to Market
Certain companies sell directly for end-users, while others sell through distributors, resellers and integrators. The internet marketing agency needs to consider whether to opt for a multi-level approach, selling directly to only the key accounts or opt for distribution channels.
Choosing the right route to market is invaluable. Leveraging the business relationship to benefit from the end customer is all about opting for the best go-to-market strategies. Distributors provide a vital role within the supply chain, expanding the market by enabling vendors to enter fresh sectors and compete with other platforms.
- Opening Up New Markets
Taking the right route to market assists customers and vendors. For example, the right distributor can enhance lead times, levels of service, and provide complete pre and post-sales support. They can also dispense detailed information and provides in-depth demonstrations of new systems and products when manufacturers cannot spread the information quickly and widely.
The ability to assist in the sales process is the reason why your internet marketing company prioritises the best routes to market. Advanced specialist knowledge and training is the reason why distributors can address end user concerns and secure contracts. For products or services that need configuration or support, choosing the right route to market can make a big difference.
- Boosting Engagement Levels
The level of engagement between manufacturers and channel partners is critical and the routes to market play a role in the volume of products sold. Service and after-care considerations are also taken into account. Add functionality, improve product appeal and add real value for the end users. Choosing the right channels enables the company to be perfectly positioned to deal with high demand levels. In a complex and saturated marketplace with different and multi-layered relationships that defy linearity, a straightforward route to market is unrealistic.
The message coming from all community members including manufacturers, dealers, resellers, integrators, distributors and the end user is the route that suits one best. Consider sports giant Nike, for example. Considered one of the largest retailers in the world, Nike is focusing on the direct to consumer channel. Through direct sales alone, the company is poised to generate USD 16 billion by 2020 from USD 6.6 billion in 2015. More retailers are investing in the route best suited to them, and this does not necessarily mean a conventional dealership model.
- The Importance of Prioritising Customer Needs
With the advent of mobile, cloud and social technologies, customer expectations continue to expand. Customers are now demanding a seamless experience and securing this is a new battleground for brands. Choosing the right route to market can make a difference and offer a competitive advantage. For example, for brands, the best route envisions how a customer journey takes place and what is needed to turn visions into reality.
The right go-to-market strategies translate into better customer experiences. For the internet marketing company, having the necessary processes, insights and company culture in place is necessary for providing a seamless customer experience. An understanding of the end consumer is needed to ensure direct sales efforts improve the client experience or the dealership model. Internet marketers, therefore, focus on choosing a route that controls the brand’s story and relays messages directly to customers.
- Having Analytics in Place
Direct sales or dealership, whatever the route to market taken is based on a lot of research. The reason for this is also that choosing the best route should also allow brands to collect customer data. For most brands, selling is not just about connecting with customers alone. It is also about collecting the analytics, so customer data can guide brands to craft compelling and captivating narratives and personalise the customer experience keeping the preferences and requirements in mind.