Go to Market
Nirvay Consulting provides services for Go-To-Market including market understanding, defining product-market fit, establish the right positioning of the service/product, do a competitive analysis, building and testing out a right pricing strategy, ensuring right alignment between marketing and sales, defining and building out the partnership strategy.
Client Concerns
Our approach
Market Analysis
We analyze the market trends and dynamics based on the product/service. We evaluate the growth in the market not only through the lens of the product or service, but also competition in that space as well as allied sectors that can potentially encroach into that space. We consider the relative strengths and weaknesses of the firm that we are working for. Based on the market analysis, we identify the right segment to go after.
Identification of Customer
We identify customer pain points, and create detailed buyer personas. Through this process we identify who the ideal customer for the product/service would be.
Defining the value proposition
This is a critical phase where we are identifying the key value proposition of the product or service. The definition of the value proposition should be distinct from the competition and clearly articulate the uniqueness being delivered by the product/service. The features of the product/service should clearly align with the customer persona developed. This process is iterative and changes based on the early conversations with the prospects. This further leads to a clear messaging strategy across different channels about the product/service.
Collateral Development
This could take various forms from short elevator pitches, to presentations, to brochures/1-pagers to the website. The messaging has to be simple, clear and consistent across all these mediums. Collateral development can also take the form of blogs/articles showing thought leadership in the space, which could help in inbound interest for the product/service.
Pricing Strategy
It is important to have the right pricing based on the value articulation. Pricing less than optimal leaves margin on the table and pricing more than optimal leads to loss of market share. Pricing is also a matter of negotiation, but there should be clear guidelines on the pricing band and the necessary steps to communicate to the customer for any revision on the pricing while negotiating.
Channel Planning
It’s important to articulate the correct strategy to reach the customers, whether it is through alliance partners, direct sales, online sales. The right mix based on the complexity of the product/service and its value articulation is crucial.
Marketing and Promotion Planning
Develop a lead generation process which could be focusing on inbound leads by promoting the right content through the different marketing channels. This involves setting up a marketing calendar which has the necessary discipline to target the right channel and be consistent in content delivery. It also involves having a regular analysis on the metrics to amplify what’s working and discontinue what is not.
Feedback Loop
Ultimately the customer is right. Any of the GTM activities will can only work well with a strong feedback loop, with conversations with the customers constantly refining the GTM activities.
Prior Experience
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI
Development of new international markets for a large software product in BFSI