Marketing plan
versus
go-to-market strategy
A Go-To-Market plan will be crucial to product and marketing success when launching a new product, entering a new market, or doing both.
While a marketing plan is a comprehensive document that aligns marketing initiatives to the company's high-level business goals, a Go-To-Market plan is more niche and developed for a specific product or market.
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A marketing plan documents the goals, objectives, research, costs, strategies, and action needed to drive business for the overall company.
A Go-To-Market strategy is a tactical plan detailing how to execute a product release and promotion. It fleshes out the value proposition, builds a unique experience for customers, and finds ways to be competitive in the market.
Go-To-Market Essential tactics:
At Madison Project we identified the following digital asset developments and promotional tactics as essentials for any Go-To-Market Strategy.
Case Studies
Find below 2 Marketing cases, Paids Ads and Email Marketing that we, at Madison Project, planned and executed as part of a Go-To-Market Strategy
Paid Ads
This client is in the food/wellness/niche industry, with many restrictions for paid ads. One tactic for this Go-To-Market and product launch was to promote it with Paid Ads thru blog articles and valuable content, directing to a specific landing page.
It included Google Search, Instagram, Facebook Ads, also we run Programmatic and Rich Media display to identify the audience and gather data for retargeting ads in a second phase.
The Challenge
Increase Brand Awareness and drive sales.
Tactics
• Google, FB and Programmatic Paid Ads
• Top Of Funnel Brand Awareness
• Retargeting tactics to drive sales conversions
Key Results
132%
ROMI
Return on Marketing Investment (ROMI)
If you have access to production costs, you can use a ROMI metric, much more accurate than ROAS.
In this case 132% means that every dollar invested returned 32%
What is ROMI or Return of Marketing Investment?
Is the contribution to profit attributable to marketing (net of marketing spending), divided by the marketing 'invested' or risked
The purpose of ROMI is to measure the degree to which spending on marketing contributes to profits.
Lowering CPC (Cost Per Click)
with better creativities
We identified opportunities and points to optimize and planned:
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1. Identifying segments
2. Lowering CPC the first 3 months
3. Them we added new segments and campaigns
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Steadily increase CVR (Conversion Rate - Click Through Rate)
Better Creativities means better CVR, above the industry average, in this case the food / niche industry
Email Marketing
Knowing the many restrictions to promote this product (Niche / Food / Wellness) in Paid Ads regularly, we found that emailing will be a solid channel for this client. We build a strong base with regular customers and prospects, delivering valuable content first and segmenting the audience for upcoming promotions.
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Email Marketing Advantages:
Email marketing helps you connect with your audience to promote your brand, products, and increase sales. Email marketing has many advantages:
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* Cost- effective
• Reach an already engaged audience
• Deliver targeted messages.
• Drive revenue.
Key Results
40%
40% of total orders results from a promotional email sent it before.
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In the third month of the campaign, we had incredible results delivering valuable content, brand messaging, and ultimately targeting the audience with personalized promotions.
Email Journey flowchart reference:
Total Orders
The Challenge
Drive sales through email marketing
Tactics
• Top and Bottom Of Funnel
• Building a customer database
• Email automations
• Email Customer Journeys
• New segmentations
• Increasing delivery frequency
Learn more about Go-To-Market Strategy