How to Create a Successful Cloud Go To Market Strategy
The cloud is not a single technology, company, or service…The cloud is changing how business is done, and it’s also changing the Cloud GTM strategies needed to succeed.
Cloud computing has moved beyond early adopters into the mainstream market, which means that customer expectations are high for integration with existing infrastructure and applications.
The cloud market is intricate and complex. It’s also competitive, so businesses are looking for an advantage.
Many companies are struggling to define their cloud strategies because there are so many options they need to consider.
This is an overview of how to create a successful cloud go-to-market strategy (GTM).
Define your target customer
The first step in creating a successful Cloud GTM strategy is to define your customer and buyer personas.
Rather than just asking for their current business, you need to delve deeper into their plans and challenges
To define your target customer differentiate customers based on their size, industry, functions they perform in the organization, and goals they want to achieve through the use of technology or digital products.
Conduct a competitive analysis to identify gaps in the market for your product
The next step is to conduct a competitive analysis of the market.
Conduct an in-depth review of all your competitors and identify any gaps that you can use to differentiate your product from others.
Identify customer expectations, their technical requirements, give examples of companies who are using these services currently, etc.
Create an effective marketing campaign that targets your desired consumer
Next, create a marketing strategy.
Part of the marketing plan should include:
- Social Media Strategy – Identify which social media platforms will be used and identify key personalities/influencers who can help promote the product on these channels (this helps build credibility and trust with potential customers)
- Content Strategy – Create and distribute content that will be used to educate potential customers about the product, its benefits, how it works, etc. (this helps build trust)
- Public Relations Strategy – Identify key partners who you can work with to help promote your product (helps solve a problem for them and builds relationships in the process)
- Ad Campaign – Identify channels to promote your product and partner with key influencers who can get the word out about the product (helps build awareness, trust, and credibility)
Develop a go-to-market strategy – identify channels, partners, and value propositions
This next step is to create a go-to-market strategy.
One of the keys to success is identifying the channels that you will use to sell your product or service.
There are various online channels including:
- Website – through which you can distribute information about the product, support resources, etc.
- Social Media Platforms – used to help promote your product and reach out to potential customers
- Blog – create a blog to promote your product, service, educate prospects on best practices, etc.
You should also identify the partners you will work with in order to help promote your product or service.
Partnering with influencers in your industry can have a huge impact on awareness and building trust when it comes to your product or service.
Determine pricing model
When it comes to pricing, there is no right answer for everyone.
The key with Cloud GTM strategy is to make sure you don’t price yourself out of the market.
Identify your costs associated with getting the product out the door, including development costs, hosting costs, etc.
Most CRM solutions are priced on a per-user (per month or per year) basis in order to make it more affordable for customers who want to use this service.
Launch with high-quality design and development to build trust with consumers
The final step is to launch your product.
Make sure you launch with high-quality design and development to build trust with the consumer.
Conclusion
It is important to set realistic expectations early on, communicate frequently and effectively throughout the entire process, and deliver a product that solves an existing problem in the market.
