Increase your chances of success with new products and new markets

Photo by Ian Schneider on Unsplash

 Product:Market fit is achieved when you have a product that satisfies the needs of customers in a market segment that is big enough for you to sustain growth, who value what the product does for them and are prepared to pay a price that generates the profit that you want.

Go to market campaigns

Optimising profit and growing brands are two powerful levers that will help your company to grow. A third lever is to grow your revenue by adding new products or by entering new markets with existing products.

However, many companies fail to achieve their goals when launching new products or entering new markets despite investing significant amounts in products and service development.

Thoughtful go to market planning and execution can help you to avoid the most common reasons why companies fail:

  • The product/market fit was not right
  • The sales and marketing strategy was wrong for the segment
  • Segmentation and targeting were off the mark
  • Poor execution of the promotion plan
  • Internal resources were not correctly aligned
  • The pricing strategy was incorrect

Go to market Methodology

Working together with you and your product, sales, marketing and operations teams we’ll put together a pragmatic go to market plan that will allow you to:

  • Evaluate your target market and see if it will sustain the growth that you want
  • Identify any gap between your customers’ assumed needs and your product or service
  • Understand your target market landscape, customers and competitors
  • Identify your ideal customers and define a minimum viable product (MVP) or service to test
  • Recruit a small cohort of alpha customers to help you to evaluate and refine your MVP
  • Work with them, a small number of salespeople and your marketing team to define test segments, messages, pricing and supporting activities
  • Test your sales and marketing plans by winning beta customers
  • Use the lessons learned to train other members of your sales team and to refine your brand and sales strategy
  • Work with your alpha and beta customers to create refine your roadmap for short-term product/market fit and long term strategic advantage and to align internal resources
  • Prepare the process for launching your new product or market entry
A group of people around a table working on go to market plans

Go to market Deliverables

  • Initial consultancy to confirm the value and identify the landscape, competitors and customers in your target market and to define your ideal customer.
  • Ongoing support to your product team to help them define the MVP
  • Workshop to define test segments, messages, pricing and supporting activities
  • Workshop to enablement of your wider sales channels
  • Development of a refined brand and sales strategy 
  • Development of your launch campaigns

My 5-point Client Satisfaction Promise

  1. Your go to market plan will be customised to your business and its unique challenges.
  2. Your investment and your payment schedule will be clear. If I can save you money by using what you already have, I won’t reinvent the wheel.
  3. We’ll discuss, agree on and document each step in the process. If I need you to pull together data or documents I’ll ask you before the relevant step begins.
  4. The work plan will comprise a number of milestones that will be clearly identified. Documentation and workshops will happen at the end of each milestone so that you can regularly evaluate the progress of the project.
  5. Sometimes the unexpected happens. If something extra is requested or required I’ll ensure you’re fully informed about the implications before you commit.

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