In 2023, Waveup reviewed over 300 pitch decks, from pre-seed to Series C. One major problem stood out: the go-to-market (GTM) slide. Most decks either botched it or skipped it. Unsurprisingly, these decks don’t get funded.

Your GTM strategy is critical, especially early on. Investors care about three things:

• Quality of your team.

• Size of your market.

• Effectiveness of your execution.

That last point hinges on a solid, believable GTM plan. Investors want proof that you can launch and grow fast, without burning through cash. The "growth at all costs" days are over.

In 2024, VCs will demand a solid operational plan and clear competitive edges in your GTM. No more BS.

👺 Stop treating your go-to-market plan as just a marketing strategy

Your go-to-market ≠ marketing strategy. It might seem obvious, but many founders still mix them up. Too many use their GTM slide to only talk about marketing, and it's a big mistake.

Your GTM is more than marketing. It’s your overall plan to reach your target market, including your ideal customer profiles and your acquisition and distribution strategies. These must be clear in your GTM slide, with details that match your stage.

Avoid GTM slides stuffed with generic marketing channels like SEO or SMM without explaining their specific value.

🦻🏼 Talk about your ideal customer persona (ICP) now and in 6, 18, 24 months

Even if you're selling something as universal as towels, you can't target everyone at once. You need to start with a specific market segment, tailoring your product and approach to your ICP.

Focusing on a single market segment is crucial. Once you dominate it, you can expand upmarket or geographically, tweaking your product and strategies as you go. This is the beachhead market strategy investors want to see in your GTM plan.

Many startups miss this. They pitch without a clear ICP or focus, presenting a chaotic mix of targets, products, and channels. This confusion can turn off investors.

Your GTM slide should convince investors you have a solid 18+ month plan with concrete milestones and early proof that your strategy works. Walk investors through your market vision. Answer these critical questions: Who are your customers? What's your GTM motion? Which channels do you use (online/offline, inbound/outbound)? Why did you choose those channels?

Remember, your strategy should evolve with your ICP as you aim for larger markets. Show investors you know how to adapt and provide a clear timeline.

🌍 Be very intentional with your go-to-market motion

For SaaS startups, defining your growth motion is critical. Your choice depends on your market, product, and competitive edge. You can’t determine the right GTM motion without understanding your ideal customer’s needs.

Typical GTM motions are product-led, sales-led, or the newer community-led growth. Many founders mistakenly go hybrid, mixing motions without clear reasoning. You often hear, “We’ll use a product-led motion with an enterprise-led motion,” without explaining why this combo works for their case.

Using multiple motions can be effective if you’ve solidified your initial persona and product and are ready to expand. However, timing matters. Adding a sales-led motion for a simple, SMB-priced solution with an average contract value under $4,000 will destroy your unit economics and ruin your funding chances.

Choose your GTM motion carefully, explain your reasoning, and adapt as you grow.

🎳 Think about the competitive moat in your GTM plan

The top mistake we see is generic go-to-market strategies. You can only convince investors you’ll execute better if you have a unique advantage.

Fixing this is easy. Highlight your assets or moats that will help you scale faster or cheaper. Show how your strategy leverages your experience and gives you an edge over competitors.

For example:

• An established network of partners that drastically reduces time to market.

• Strong community presence and a large social media following with XXX followers to build user mass quickly.

• A broad content base (X articles) driving massive organic traffic.

• Integrations with other products or partners (name them).

• Established connections with key media outlets (name them).

• A brand community that powers a referral flywheel resulting in a CAC (customer acquisition cost) three times lower than the industry average.

These elements create shortcuts for customers, and that’s what investors want to see.

🧩 Show, don’t tell — use numbers to support your claims

Numbers can change the narrative and perception of your strategy. Too often, GTM slides are boring and unconvincing.

By the time you pitch to investors, you’ve probably gained some traction. Don’t just say it — show it with metrics.

Highlight metrics like LTV, payback time, conversions, and organic referrals growth. If these stand strong against industry benchmarks, showcase them. Start your slide with, “Our strategy is working,” and back it up with growth metrics.

If only some channels are producing results, focus on those:

• Our partnership channel yields a 10:1 LTV to CAC ratio.

• Our strategic partners bring us clients at a 60% conversion rate.

• Organic referrals generate 40% of our new business.

Dig into your KPIs to find signals that your strategy works. Provide proof points that de-risk the investment for funders. It’s extra work, but it shows you understand and track key metrics.

Your GTM strategy isn’t just a footnote; it’s the crux of your growth plan. Don’t miss the mark.