{"id":18686,"date":"2021-05-03T08:00:12","date_gmt":"2021-05-03T12:00:12","guid":{"rendered":"https:\/\/hingemarketing.com\/?p=18686"},"modified":"2026-03-10T13:33:15","modified_gmt":"2026-03-10T17:33:15","slug":"how-to-develop-a-winning-go-to-market-strategy-for-your-firm","status":"publish","type":"post","link":"https:\/\/hingemarketing.com\/blog\/story\/how-to-develop-a-winning-go-to-market-strategy-for-your-firm","title":{"rendered":"How to Develop a Winning Go-to-Market (GTM) Strategy &#038; Plan for Your Firm"},"content":{"rendered":"<p>In past posts, we\u2019ve shared our perspective on the best strategies to drive <a href=\"https:\/\/hingemarketing.com\/blog\/story\/how-to-drive-organic-growth-5-proven-strategies-for-professional-services-firms\" target=\"_blank\" rel=\"noopener noreferrer\">organic growth<\/a> and <a href=\"https:\/\/hingemarketing.com\/blog\/story\/mergers-and-acquisitions-as-part-of-your-growth-strategy\" target=\"_blank\" rel=\"noopener noreferrer\">merger-and-acquisition-based growth<\/a>. In this post, we\u2019re going to turn our attention to your firm\u2019s go-to-market strategy.<\/p>\n<h2>Go-To-Market Strategy Defined<\/h2>\n<p>Some people confuse a go-to-market (GTM) strategy with a business plan. While they are related, they <em>are<\/em> different. A business plan is broader in scope and considers every aspect of a business, while a go-to-market strategy is focused specifically on delivering a product or service to an end customer.<\/p>\n<p><a style=\"color: #f89522; font-size: 22px; font-weight: bold; text-decoration: none;\" href=\"https:\/\/hingemarketing.com\/library\/article\/the-marketing-planning-guide-for-professional-services-second-edition\" target=\"_blank\" rel=\"noopener noreferrer\">Download the Marketing Planning Guide: Third Edition<\/a><\/p>\n<p>A properly developed, carefully considered GTM strategy delivers actionable answers to some tough questions, including:<\/p>\n<ul>\n<li>How do you connect with potential clients?<\/li>\n<li>How do you offer a compelling value proposition?<\/li>\n<li>How do you distinguish yourself from competitive firms?<\/li>\n<li>How do you deliver on what you\u2019ve promised?<\/li>\n<\/ul>\n<p>You often hear go-to-market strategies associated with manufacturers and companies targeting specific markets with a particular product or products. To be sure, GTM strategies <em>are<\/em> crucial for new product launches, but they can be linked to professional service firms, as well.<\/p>\n<h2>Professional Services Are Different<\/h2>\n<p>Just as there is a major difference between computer chips and corn chips, there can be significant differences between various disciplines within professional services. For example, corporate and divorce lawyers.<\/p>\n<p>To make things even more challenging, professional services can have special considerations, such as complicated purchasing processes that can be made even messier because you\u2019re dealing with an intangible\u2014expertise\u2014rather than a tangible product that can be defined and compared. This, of course, makes developing a go-to-market strategy for professional services that much more challenging.<\/p>\n<p>With that in mind, let\u2019s take a closer look at what it takes to develop an effective go-to-market strategy for a professional services firm.<\/p>\n<h2>5 Steps for Developing a Professional Services Go-To-Market Strategy<\/h2>\n<p>At Hinge, we\u2019ve <a href=\"https:\/\/hingemarketing.com\/programs-services\/visible-firm\" target=\"_blank\" rel=\"noopener noreferrer\">refined the GTM strategy development process<\/a> down to five steps that fit nicely with professional services firms. Here\u2019s a brief summary:<\/p>\n<p><strong>1) Define your target markets. <\/strong>If starting here seems odd it\u2019s because most firms start with what services they want to offer. Better to start with the kind of <em>problems<\/em> you want to solve. Or better still, the kind of markets you want to be in.<\/p>\n<p>Growth, geographic location, existing client base are all examples of important considerations that go into selecting markets. Secondary <u><a href=\"https:\/\/hingemarketing.com\/library\/article\/hinges_professional_services_guide_to_research\" target=\"_blank\" rel=\"noopener noreferrer\">research<\/a><\/u> on market size, growth and dynamics can be very helpful here.<\/p>\n<p><strong>2) Profile your target client. <\/strong>Within a broad market there are typically a wide range of clients. Which segment are you likely to add the most value to? Which segments are most likely to be a good fit with your firm? These are your target clients.<\/p>\n<p>It\u2019s not a matter of who can use your service. It\u2019s quite likely that many prospects could. But that doesn\u2019t mean you should target them all. You will likely have no advantage, just a very difficult time closing prospects.<\/p>\n<p><strong>3) <a href=\"https:\/\/hingemarketing.com\/programs-services\/branding\" target=\"_blank\" rel=\"noopener noreferrer\">Position your brand<\/a> in the marketplace. <\/strong>How do you want your firm to be seen in comparison to your competitors? Do you want to be the innovator? the thought leader? the low price alternative?<\/p>\n<p>Each of these alternatives would, of course, be very different market positioning.<\/p>\n<p>For example, if you are trying to reach young, innovative firms, your positioning, and services mix should align with that focus. Young, innovative and exciting.<\/p>\n<p>Low price positioning? Don\u2019t try to tout your superior client service.<\/p>\n<p><strong>4) Define your service offerings. <\/strong>Most firms start here and search for the right target audience. That\u2019s a mistake. The services you offer should flow from the target and positioning, not the other way around.<\/p>\n<p>What services speak to the unique needs of the niche you have decided to focus on? How do these offerings reinforce your positioning? If you are positioning yourself as innovative, are your services truly innovative? Be honest.<\/p>\n<p>If you are positioning yourself as a low-cost alternative, do you have high-value, low-cost services that are not available elsewhere within your market? Be careful not to paint yourself into a corner with a low-price GTM strategy. That could come back to bite you when you want or need to raise prices. Not to mention the potential for brutal, no-win pricing wars with competitors.<\/p>\n<p><strong>5) Develop an appropriate marketing strategy. <\/strong>Just as your service offerings should deliver on your brand promise, so too should your marketing approach align with your target clients\u2019 preferences. A marketing campaign that speaks their language and specifically addresses their \u201cpains\u201d will be far more effective in reaching and motivating them.<\/p>\n<p>That means you should be discussing the issues that are important to your target clients. Your guest articles should be in publications they read and your speaking engagements at events they attend. Your blog posts should feature keywords they are likely to search for.<\/p>\n<p>But most important, your marketing plan should be built around making your firm\u2019s expertise visible to your target audience. This is where we shamelessly plug our <a href=\"https:\/\/hingemarketing.com\/library\/article\/the-visible-expert\" target=\"_blank\" rel=\"noopener noreferrer\">Visible Expert<sup>\u00ae<\/sup><\/a> book as a quick and easy way to learn more about developing true thought leadership within your industry and target market.<\/p>\n<p>If you are new to developing a go-to-market strategy all this may seem a bit overwhelming. So where do you start? Usually, the best answer is with research, and there are two types of research that are most helpful:<\/p>\n<ul>\n<li><strong>Secondary research.<\/strong> This is finding research information that has been published. Secondary research is most useful for sizing and evaluating markets in which to compete. It\u2019s ideal for creating context and to help frame what you want to do and where.<\/li>\n<li><strong>Brand research.<\/strong> This is research, where you (or a firm you retain) collect original data about your firm and your competitors. This is helpful for the other four steps of your GTM strategy.<\/li>\n<\/ul>\n<div class=\"lb-vid\"><a id=\"69d521f906561\" rel=\"wp-video-lightbox\" href=\"https:\/\/www.youtube.com\/watch?v=nDPruDmT0jY&#038;width=1280&#038;height=720\" title=\"\"><img decoding=\"async\" src=\"https:\/\/i3.ytimg.com\/vi\/nDPruDmT0jY\/sddefault.jpg\" class=\"video_lightbox_anchor_image\" alt=\"Click to play video\" \/><\/a>    <script>\r\n    \/* <![CDATA[ *\/\r\n    jQuery(document).ready(function($){\r\n        $(function(){\r\n            var width = $(window).innerWidth();\r\n            var setwidth = parseFloat(1280);\r\n            var ratio = parseFloat(0.5625);\r\n            var height = parseFloat(720);\r\n            var link = 'https:\/\/www.youtube.com\/watch?v=nDPruDmT0jY&amp;width=1280&amp;height=720';\r\n            if(width < setwidth)\r\n            {\r\n                height = Math.floor(width * 0.5625);\r\n                \/\/console.log(\"device width \"+width+\", set width \"+1280+\", ratio \"+0.5625+\", new height \"+ height);\r\n                var new_url = wpvl_paramReplace('width', link, width);\r\n                var new_url = wpvl_paramReplace('height', new_url, height);\r\n                $(\"a#69d521f906561\").attr('href', new_url);\r\n                \/\/console.log(new_url);\r\n            }\r\n        });\r\n    });\r\n    \/* ]]> *\/\r\n    <\/script><\/div>\n<p><a style=\"color: #f89522; font-size: 22px; font-weight: bold; text-decoration: none;\" href=\"https:\/\/hingemarketing.com\/library\/article\/the-marketing-planning-guide-for-professional-services-second-edition\" target=\"_blank\" rel=\"noopener noreferrer\">Download the Marketing Planning Guide: Third Edition<\/a><\/p>\n<h2>Ready to Go to Market?<\/h2>\n<p>The five steps we\u2019ve outlined here are a great place to start on the road to developing an efficient, effective go-to-market strategy for professional services. For any plan to be successful, though, it must be flexible and current.<\/p>\n<p>As your market and industry conditions change, be ready and willing to revise your go-to-market strategy to keep pace. Nothing should be carved in stone.<\/p>\n<p>&nbsp;<\/p>\n<a href=\"https:\/\/hingemarketing.com\/library\/article\/the-marketing-planning-guide-for-professional-services-second-edition\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-34124 size-full\" src=\"\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd.png\" alt=\"\" width=\"460\" height=\"220\" srcset=\"https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd.png 460w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-300x143.png 300w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-189x90.png 189w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-310x148.png 310w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-230x110.png 230w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-284x136.png 284w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-157x75.png 157w, https:\/\/hingemarketing.com\/wp-content\/uploads\/2018\/11\/blogoffer-horiz-marketingplanningguide-3rd-60x29.png 60w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\" \/><\/a>\n","protected":false},"excerpt":{"rendered":"<p>In past posts, we\u2019ve shared our perspective on the best strategies to drive organic growth and merger-and-acquisition-based growth. In this post, we\u2019re going to turn our attention to your firm\u2019s go-to-market strategy. Go-To-Market Strategy Defined Some people confuse a go-to-market (GTM) strategy with a business plan. While they are related, they are different. A business&#8230;<\/p>\n","protected":false},"author":83,"featured_media":18688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[388,399],"class_list":["post-18686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-c-suite-topics","tag-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Develop a Winning Go-to-Market (GTM) Strategy &amp; Plan for Your Firm - Hinge Marketing<\/title>\n<meta name=\"description\" content=\"Some people confuse a go-to-market (GTM) strategy with a business plan. 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