AMA: Shopify Director of Product Marketing, Marisa Currie-Rose on Go-To-Market Strategy

I think about Go-To-Market plans being comprised of the following work: * Understanding the product and its value proposition * Gather feedback from current and potential customers * Understanding the competitive landscape * Identifying the total addressable market (TAM) * Setting objectives and the goals of the GTM plan * Developing a pricing and sales strategy * Crafting a messaging strategy by including the value propositions * Choosing marketing channels * Creating a launch timeline

The most important thing you can do before you prepare your Go-To-Market materials is to rate your launch as a P0, P1, or P2. Not all launches are created equal, and the materials will contain different information depending on the priority level. * A P0 launch is a new product launch that is critical to the company's success. The materials for a P0 launch should be comprehensive and include all of the information that potential customers need to make a decision. * A P1 launch is a new product launch or product update that is important to the company's success, but not as critical as a P0 launch. The materials for a P1 launch should be detailed, but they may not include all of the information that potential customers need to make a decision and you will not include as many marketing activations. * A P2 launch is a small product launch or product update that is not critical to the company's success. The materials for a P2 launch should be brief and to the point. This will be the lowest lift from a marketing moment and you should not feel like you need to do all of the activations available to you. Always start with a high-level overview, which should include your target market, value proposition, and overall GTM strategy.

In order to identify ideal customer profiles as part of your GTM strategy you should do the following in the early stages of the GTM planning: 1. Conduct market research. You can do this through surveys, interviews, focus groups, and other methods. 2. Dig into your existing customer base. This will help you understand who your current customers are and how they use your product. 3. Create customer personas. They help you understand the needs and wants of your ideal customer so you know how to speak to them. 4. Validate and reiterate on your personas. Once you've developed your customer personas, you need to validate them by testing them with real customers. These steps will help you identify ideal customer profiles.

Core documents will vary at each company, but I think there are some common ones to consider: * Market research/Competitive analysis: Helps you understand your total addressable market, competition, and whether your product fits the market. * Positioning document: Define your total addressable market, value proposition, and competitive landscape. * Messaging document: Outline the key messages you'll use to communicate with your audience. * Marketing measurement: Enables you to track the impact of your GTM campaign * Sales collateral: This will give your sales team the information and tools they need to sell your product. * Marketing plan: Outline your marketing strategy for launching and promoting your product. It covers your target audience, marketing channels, and budget.

Before we start working on a Go-To-Market strategy, we work with cross-functional teams to align on the value props and priority level of the launch. For example, a P0 launch gets a different strategy than a P2 launch. To communicate this clearly and concisely, you can do the following: * Create a GTM document that outlines your strategy in detail. Share this document with all team members and update it regularly as your strategy evolves. * Hold regular team meetings to discuss the GTM strategy and review progress. These meetings should be a forum for team members to ask questions and provide feedback on the strategy. * Empower team members to make decisions about how to execute the GTM strategy. This will help to ensure that everyone feels invested in the success of the strategy. * Celebrate successes and learn from failures. Celebrating successes and learning from failures can create a culture of continuous improvement for your GTM strategy. In short, communicate clearly, collaborate often, and empower your team.