To develop a top route-to-market strategy, the focus needs to be on the right markets. Additionally, the strategy needs to align with the needs and behaviours of customers in these markets. It is also critical to choose the correct sales channels, products and value propositions, as these result in a company that delivers profits, generates high revenue and builds customer loyalty. A successful route-to-market strategy is assured, with the talkingAds marketing development team on the job.
- Understanding the Customer
The success of route-to-market strategies depends on how deeply the business understands its customers, their expectations, requirements and needs as well as behaviours. Key route-to-market decisions are directly impacted by the information available about client demographics, preferences and more. The talkingAds team focuses on identifying products customers are willing and need to purchase. To get a deeper understanding of these, one needs to interact directly with customers through focused interviews, prototype testing or customer surveys.
The talkingAds marketing development team works on this. Analyses of channels serve to delineate how to reach out and do business with customers, who will dictate the channels used and what will be required in the future. Ultimately, the talkingAds team decodes what makes your product or service add value to the customer, and understanding buying interests as well as the way they seek to do business with your company.
- Impacting Profitability
Choosing lower-cost routes-to-market can serve to be beneficial when it comes to the greatest impact on your business profitability. The best part is to understand which channels are to be used for which customers. Certain products and services may even require complex and costlier channels. Choosing the right fit matters. Utilising the correct channels can impact profits in diverse ways. While selling, the talkingAds team assesses routes to market by ensuring the product and the channel are suited to each other. Channels that one needs to choose need to be those where the customer will be most likely to make a purchase.
The talkingAds marketing development team works to use channels that work out to be value for money. For example, expensive channels are not used to sell cost-linked products that don’t give differentiation to the product. Using appropriate channels in the sales process is a deal maker or breaker. Simple products need to be sold through simple, low-cost channels such as telesales or online. Complex products require more diverse channels like a field salesforce.
- Maintaining the Balance Between Market Penetration and Control
Maintaining the balance between market penetration and control is the key to effectively assessing routes to market. Using an international market coverage route-to-market strategy with a mix of channels can trigger margin erosion, channel conflict, and even dissatisfied customers when there is a lack of close control over channels. To stay in control, your marketing development team needs to identify potential risks. For example, there are many issues to adopting a solely online channel. If your customers don’t use internet channels and don’t require it in the future, then you don’t need it, either. In case there is no value addition for the customer, it is better not to adopt the internet channel. The reason for this is that you will have to sell your products where lower value alternatives are sold.
From perfecting the product or service to creating a value proposition for a specific target market is only one piece of the puzzle. Choosing the most effective distribution channels to get your product or service to those who need it the most, while you generate maximum profits is the key.
- Identifying the Best Routes to Distribution
The starting point for any analyses is to assess the opportunities available in terms of distribution channels. This will depend on the type of business, whether it is a tangible product or service, the type of product or service in terms of manufacturing and implementation and much more. Direct-to-customers routes are where most marketing development starts because these are considered as offering the biggest margins. Selling directly to the target market can take place through numerous methods like online, face to face direct selling, telesales, through retail or showroom units or even official bid and tender or contract processes.
For selling directly, the marketing development team considers how your business can lock your clients into the business for longer with monthly retainers, fixed term contract, agreements, subscription models, added-value selling, cross-selling and upgrades. While direct-to-customer generates the highest margins, your business also needs to invest time, money and effort in getting the enquiry pipeline moving. So you need to consider alternative routes to market. This is where marketing development experts from talkingAds come in.
- Building Your Own Distribution Channel
Building your own distribution channel is a viable alternative when you need a route to market that permits closer control of markets and speed with which sales grow. Through such alternatives, the talkingAds marketing team can help your business to achieve a much wider geographical scope at faster speeds with methods like license agreements, network marketing models, franchising and retail concessions. Commission based partnerships are also essential for promoting your products and services in return for commissions for sales generated.
In assessing this route, the marketing development team focuses on partnership agreements, white label partners and partnership agreements. The benefits of this type of arrangement are that there are only costs to sale, once sales have transpired. Evaluating marketing opportunities and routes to market, the talkingAds marketing team focuses on go-to-market strategies that fit your business model.
Assessing the objectives of the route-to-market strategy also makes it easier to measure success down the line. Many companies need to adjust their tactics to achieve desirable results. For the right analyses and zeroing in on the perfect go-to-market strategy, trust the talkingAds marketing development team. The development team makes it easy to understand what constitutes success, is the goal to achieve a particular sales volume workable and whether you want to target early adopters.
Keeping the sales team on target boost the chances of success. Creating the incredible product is only part of the process. Considering all the elements of the go-to-market strategy, including the target market and distribution or sales channels can be the game-changer when it comes to identifying opportunities for profits. Along with the right pricing, the right route to market can also make a big difference and marketing development specialists understand the importance of this.