Master market expansion: GTM strategy guide

In today's fast-paced economy, having a well-planned go-to-market (GTM) strategy is critical for businesses looking to expand their reach and break into new markets.

This article aims to provide concrete tips, example timelines and practical guidance for Nordic CMOs seeking to accelerate their GTM strategies, whether entering a new market for the first time or expanding their existing presence. We will focus on marketing operations and the benefits of a well-executed GTM plan, using Germany as a specific new market example.

The benefits of a marketing operations-driven GTM

A digital marketing-driven GTM strategy provides numerous benefits, including increased speed to market, more efficient resource allocation, and better alignment between marketing, sales, and product teams. By integrating data-driven insights and marketing automation tools, marketing operations can streamline processes, optimize campaigns, and drive revenue growth.

While adopting a one-size-fits-all GTM strategy may be tempting, it can lead to suboptimal results or even outright failure. Each market entry or expansion effort requires a tailored approach that takes into account regional differences, target audience preferences, and competitive dynamics.

Developing a GTM strategy: Key elements to consider

Imagine your company is a Nordic B2C fashion retail business looking to expand into the German market. How should you structure your marketing roadmap, timelines, and GTM phases to successfully entering this new territory?

Before jumping into the GTM planning and roadmap, here are some key elements to consider first:

#1 Market prioritization

For Nordic companies considering expansion into new regions, it is crucial to prioritize markets based on factors such as market size, growth potential, and ease of entry. Expanding to new markets may involve a phased approach, focusing on one region first before expanding to others. For instance, a Nordic fashion retail company might opt to enter the German market first due to its geographic proximity and strong economic ties before later expanding to the UK, USA, or APAC.

#2 Setting up and managing a cross-border marketing team

Establish a local marketing team in Germany or partner with an agency such as Junko with local resources to manage on-the-ground activities and provide insights into local market nuances.

Establish clear communication channels and regular check-ins between the Nordic HQ marketing team and the local agency or team. This can include weekly or bi-weekly video calls, shared project management tools, and real-time messaging platforms.
Set goals and KPIs that both teams can work towards, ensuring that everyone is aligned on the objectives and understands their role in achieving them.
Empower the local agency or team to make decisions based on their knowledge of the market, while keeping the Nordic HQ marketing team informed and involved in the decision-making process.
Provide cross-cultural learning and collaboration opportunities, such as organising workshops or team-building activities that bring together the Nordic HQ marketing team and the local agency or team.
Encourage the local agency or team to share insights, best practices, and market trends with the Nordic HQ marketing team to facilitate continuous improvement and adaptation of the GTM strategy.

GTM Strategy: 6-month plan to enter the German B2C market

When planning a GTM strategy for the German market, research carefully which marketing channels are most effective in reaching your key target audiences. It is essential to strategically phase the deployment of these channels, ensuring that each channel builds on the success of the previous one creating a cohesive, integrated campaign.

To successfully launch marketing campaigns targeting German B2C audiences, the GTM strategy planning should start at least six months in advance. This allows enough time for market research, product adaptation, and marketing material localization.

Strategy and execution: GTM timeline and phases

Here is a breakdown of the phases and steps involved:

Phase 1 (Months 1-2): Market research and analysis

Conduct a comprehensive analysis of the competitive landscape, focusing on similar players like your company in the German fashion retail and e-commerce industry. Identify the strengths, weaknesses, and unique selling propositions (USPs) of these players, considering their offerings for different customer segments.
Research consumer preferences and behaviours specific to the German B2C market, including preferred purchasing channels, payment methods, and fashion trends.
Investigate local regulations and industry standards that might impact German fashion retail and e-commerce sectors, including consumer protection laws, import/export regulations, and environmental standards.
Conduct interviews, surveys, or focus groups with potential German B2C customers, representing various target audiences, to gather qualitative insights and validate your assumptions.
Based on the research, develop detailed customer personas that represent typical German B2C buyers in the fashion retail and e-commerce sectors for each target audience and map their customer journey.

Phase 2 (Months 2-3): Product adaptation and offering

Assess the product offering across various categories and identify potential gaps or opportunities in the German market, taking into account the preferences of different customer segments.
Adapt the product offering to meet the needs and preferences of the German B2C market, considering factors such as sustainable materials, local fashion trends, and pricing strategies that cater to different customer segments.
Develop unique value propositions for the German B2C audiences, highlighting the specific benefits and differentiators of the Nordic retail and e-commerce company in the fashion industry for each target audience.

Phase 3 (Months 3-4): Channel selection and marketing plan development

Identify the most effective online and offline marketing channels for reaching the B2C audiences in the German fashion industry, considering the preferences of different target audiences.
Evaluate potential partnerships with German influencers, bloggers, media, or complementary businesses that cater to specific customer segments.
Develop a marketing plan that outlines channel-specific tactics, budget allocation, and key performance indicators (KPIs), including objectives such as customer acquisition, ROMI, brand awareness, and website traffic growth for each target audience.
Create a content calendar to ensure consistent messaging and brand positioning across all marketing channels, incorporating seasonal trends and industry events relevant to each customer segment.

Phase 4 (Months 3-6): Marketing material localization and campaign preparation

Localize marketing materials, including website content, landing pages, SEO & keyword strategy, social media posts, digital marketing materials, videos, offline materials, and promotional materials for the German market ensuring language accuracy and cultural relevance.
Develop localized user-generated content, testimonials, or influencer collaborations that demonstrate the company’s success in serving B2C customers in the fashion retail and e-commerce sectors.
Train customer support teams to ensure they understand the nuances of the German market and can effectively engage with customers, addressing any language barriers or cultural differences.
Set up marketing automation workflows to segment and target customers based on their preferences, browsing behaviour, and purchase history.

Phase 5 (Months 5-6): GTM execution and monitoring

Launch the marketing campaigns by deploying channel-specific tactics as outlined in the marketing plan.
Continuously monitor KPIs and campaign performance, adjusting tactics as necessary to optimize results. For example, if Instagram proves to be a high-performing channel for reaching women, consider increasing the budget for sponsored content or Instagram ads.
Gather feedback from customers, partners, and influencers to refine the product offering and marketing approach, ensuring that the company remains responsive to evolving market trends and customer needs.
Analyze post-launch data to identify areas of success and improvement, using these insights to inform future GTM strategies for additional market expansions.

By applying the tips from this example GTM case to your real-life market entry and expansion efforts, you can tailor your approach to the distinct attributes of your target market. Remember to continuously refine and optimize your GTM strategies based on data, insights, and feedback from your customers and local teams.

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