Questions

Im part of startup trying to launch a medical device in the veterinary market. We're trying to sort out our GTM strategy and need someone to talk to.

5answers

Do you have the product developed? Do you have a test group? Veterinary advisory board?

Unfortunately your GTM strategy will be all about niche market acceptance and the only way to get that is by testing the product in a real market environment and getting buy-in from real professionals that will act as product ambassadors.

What stage are you?


Answered 7 years ago

What do you need to talk about exactly? Feel free to give me a call.


Answered 7 years ago

Hi there,

Well, you are focused and you know where you are going. That is already a very good start.
Did you ask your customers (or potential customers) what they want?

I always found the best way to start is to write a questionnaire (worth investing the time in doing a proper one) and then call your contacts so they can answer your questionnaire.

Tell them you will share the results with them (and do share the results).

In short, make sure your customers are part of your GTM strategy.

Hope it helps

Steve


Answered 7 years ago

I've worked with a couple of startups targeting the veterinary medicine marketplace; one was in the imaging field, the other was a drug-development company.

There are effective channels to reach this market but, as with all marketing, your messaging and positioning need careful consideration. Because of the far lower regulatory hurdle, it's a lot easier to launch a medical device here than in the human health market. However, your unique selling proposition needs to be as much (maybe even more) about the value you're going to create for the practitioner as it is about the therapeutic or diagnostic efficacy of the device.

I'd love to hear more about what you're doing. Here's a free VIP link you can use to connect with me. https://clarity.fm/francismoran/thumb749


Answered 7 years ago

While go-to-market strategies are often associated with product launches, they can also be used to describe the specific steps a company needs to take to guide customer interactions for established products. The market definition identifies the specific markets -- or groups of people that have the ability and willingness to pay -- for a specific product or service. The markets should be specific and clearly defined, but they should also involve a large enough audience to meet the income and profit objectives of the product or service. Buyer personas should also be established to help a company understand how to market and sell to these various customer segments and to identify who the best-fit customers are for the product or service. The distribution model component defines the channels, or the paths taken by the product or service to reach the end customer. Indirect channels often become a part of a product vendor's go-to-market plan. An indirect channel of distribution involves the product passing through extra steps between the manufacturer and the customer. For example, a product in an indirect channel may pass from the manufacturer to a distributor and then the wholesaler before it reaches the retail store. A change in an IT provider's overall strategic direction will often prompt a change in its go-to-market strategy. New products or product strategies may also influence go-to-market approaches. Furthermore, a rethinking of services can also trigger a new go-to-market model.
To be precise, one important aspect which makes a good GTM vs bad GTM is clarity on the business and its prospects. While talking about clarity it is important that there is a clear-cut business plan in place to create an effective GTM. I think many people are confused by the name and think that GoToMarket strategy is only for taking new products or services to the market. Customer needs, competitor activity, technology innovation and many other factors can require changes in the GTM strategy and the faster a business is able to react to those factors, the more likely they are to keep growing. GTM certainly applies to both new product launches and established products as they adjust to market forces.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 2 months ago

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