A go-to-market (GTM) strategy is the plan for bringing a new product to market, or taking an existing product into a new market. It sets out who you're selling to, how you'll position and price it, and how you'll promote, sell and deliver it, so the launch has a better chance of working.
That's close to how Shopify defines it in its GTM guide, which describes a plan that details how you reach and convert target customers. The word that matters is new. A GTM strategy isn't something a company writes once and files away.
When you need a go-to-market strategy
Shopify names three moments:
- Every new product launch.
- Every time you take a product into a new market.
- When you're planning a big push for growth in your current market.
The second one catches people out. A founder quoted by Shopify, whose clothing brand had sold wholesale only, made the point that you "can't just plop" a wholesale strategy online when you move to direct-to-consumer. Different buyers, different channels, different plan.
The gap between knowing and doing
Here's the number I'd pin above the desk. Shopify cites a 2022 Harvard Business Review survey in which 85% of executives said an effective go-to-market strategy was important to success, but just 29% said their teams implemented effective product launch plans. Nearly everyone agrees it matters, and most still don't do it well.
Shopify's guide is dated July 2024, so the survey is a few years old now. The point still stands, and it's the reason I push clients to write the plan down before launch day rather than work it out as they go.
The nine steps of a go-to-market strategy
Shopify breaks the plan into nine steps. Each one answers a single question:
| Step | Question it answers |
|---|---|
| 1 Product-market fit | Does it solve a real problem? |
| 2 Customer | Who buys it and why? |
| 3 Competitors and demand | Where do we stand, and where's the gap? |
| 4 Value proposition | What's the core benefit? |
| 5 Pricing | What will buyers pay, and what do we need to earn? |
| 6 Promotion | How will they hear about it? |
| 7 Sales and distribution channels | Where will they buy it, and how is it delivered? |
| 8 Metrics and targets | How do we know it worked? |
| 9 Monitoring and feedback | What do we change after launch? |
Steps 1 and 3 are the reality check. Product-market fit asks whether the product solves a problem people have, and the competitor and demand research tells you whether enough of them want it and what they're buying instead. Skip those and the rest of the plan is built on a guess.
Step 2 is where most of the useful work happens. Shopify suggests segmenting buyers by demographics, psychographics, interests, values and habits, then building ideal customer profiles (ICPs). Those profiles shape everything after them: the messaging, the channels and the promotion. If you're unsure where you sit against competitors, my guide to brand positioning walks through it, and step 4 is where your value proposition comes in.
For step 6, Shopify says a promotion plan typically includes goals and objectives, cost estimates, KPIs, timelines and campaign messaging. Step 7 trips people up because it covers two different things. Sales channels are where people buy, such as your website, social commerce or stores. Distribution channels are how the product gets to them, such as stores, wholesale networks, online selling platforms or direct-to-consumer delivery.
For step 8, Shopify lists the common GTM metrics: total sales volume, time to market, customer acquisition cost (CAC) and the length of the sales cycle. Step 9 is what turns a launch into a learning loop: you monitor performance against the targets you set in step 8, ask customers for feedback and change the plan based on what they tell you.
A lean go-to-market plan for a small business
If nine steps feels like a lot, this is the version I'd use for a small launch:
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- Confirm the problem you solve and who has it.
- Write the value proposition in one or two sentences.
- Check competitors and whether there's demand.
- Set the price, based on what buyers will pay and what you need to earn.
- Pick two or three promotion channels, not ten.
- Decide where it's sold and how it's delivered.
- Set three metrics before launch, so you know what success looks like.
- Review the results at 30 and 90 days, and change what isn't working.
For practical ideas once the plan's in place, see my product launch tips and this walkthrough on launching a product in your business.
What a GTM strategy gives you, and what it doesn't
Shopify lists four benefits: your product strategy lines up with your business mission, your target market is defined, you get to market faster and you spot shortcomings early. It's also honest that a GTM strategy doesn't guarantee a successful launch. What it does is cut down the avoidable mistakes.
Where I come in
Launches are a big part of what I do. I help businesses build the go-to-market plan before the product ships: who the buyer is, what the message is, which channels to use and what to measure, and then I help run the marketing. After 23 years in digital marketing, the pattern I see most is a great product with no plan behind it. You can see how I work on my work with me page.
My verdict on go-to-market planning
Most small businesses skip steps 8 and 9. They launch, post about it and hope. Do it the other way round: pick your metrics first, decide when you'll review them, and then plan the launch backwards from there. A short plan you follow beats a long one nobody reads.
Before you scale a launch plan, check the signs described in product-market fit explained.
Frequently asked questions
What are the main parts of a go-to-market strategy?
Shopify's nine steps cover product-market fit, the customer, competitors and demand, the value proposition, pricing, promotion, sales and distribution channels, metrics, and feedback after launch.
When do you need a new go-to-market strategy?
For every new product launch, every time you take a product into a new market and whenever you plan a big growth push in your current market.
What metrics should a go-to-market strategy track?
Shopify lists total sales volume, time to market, customer acquisition cost and the length of the sales cycle as common GTM metrics.
Does a go-to-market strategy guarantee a successful launch?
No. Shopify says it doesn't guarantee success, but it aligns the product with the business and helps you spot shortcomings early.
