{"id":23930,"date":"2022-09-22T17:00:41","date_gmt":"2022-09-22T17:00:41","guid":{"rendered":"https:\/\/www.revuze.it\/blog\/\/"},"modified":"2022-11-04T10:44:23","modified_gmt":"2022-11-04T10:44:23","slug":"go-to-market-strategy-2","status":"publish","type":"post","link":"https:\/\/www.revuze.it\/blog\/go-to-market-strategy-2\/","title":{"rendered":"Building a Successful Go-to-Market Strategy: A Comprehensive Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400\">When launching a new product or entering a new market, you would want to get the best possible results in terms of sales, brand awareness, ROI, or other KPIs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, you will likely lose more than you gain without a documented marketing plan. That\u2019s why businesses rely on a <\/span><span style=\"font-weight: 400\">go-to-market (also known as GTM) strategy<\/span><span style=\"font-weight: 400\"> to increase their odds of achieving their goals.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Creating this plan is relevant for all businesses &#8211; from SMBs and startups to the enterprise level. Moreover, refreshing the one you used for a previous launch is always a good idea as circumstances, and people change.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In this complete go-to-market guide, you\u2019ll find everything you need to get you running, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What is a <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> is.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Why it is important.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The key components of an efficient go-to-market strategy.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How to craft a successful one on your own. And,<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Examples from leading brands.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Let\u2019s get started.\u00a0<\/span><\/p>\n<h2><b>What is a <\/b><b>go-to-market strategy<\/b><b>?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">A <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> is a comprehensive plan that outlines how a new product would reach its end customers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Generally, every <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> outlines the value proposition, target audience, entire marketing plan, and sales strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Sounds like your regular run-of-the-mill marketing plan, no? Well, there are a few key differences.<\/span><\/p>\n<h3><b>Go-to-market strategies vs. marketing strategies<\/b><\/h3>\n<p><span style=\"font-weight: 400\">If you\u2019re in the early stages of <\/span><a href=\"https:\/\/www.revuze.it\/blog\/product-launch-marketing-plan\/\"><span style=\"font-weight: 400\">launching your brand<\/span><\/a><span style=\"font-weight: 400\">, your go-to-marketing, and marketing strategies might be fairly similar, but once you\u2019re well established, they will diverge and become very different.<\/span><\/p>\n<p><span style=\"font-weight: 400\">You can sum the differences up as follows:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Go-To-Market Strategy<\/b><\/td>\n<td><b>Marketing Strategy<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400\">short-term<\/span><\/td>\n<td><span style=\"font-weight: 400\">long-term<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400\">driven by a specific product<\/span><\/td>\n<td><span style=\"font-weight: 400\">business-wide<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400\">designed for product launch<\/span><\/td>\n<td><span style=\"font-weight: 400\">covers all time periods<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><b>Why are go-to-market strategies important?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Strategy is key to success in today\u2019s markets. Creating a quality, data-driven, clear marketing strategy helps businesses to understand their aims and goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">First, it clarifies the reasoning behind the launch of a product or service, identifies the target market, sets a pricing strategy, and outlines the ways to draw and engage customers to a brand.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Secondly, a <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> provides some quality control.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The design of a <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> forces a business to evaluate and consider all the issues customers might have with their product or service.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Identifying and mapping potential pitfalls helps brands to <\/span><a href=\"https:\/\/www.revuze.it\/blog\/customer-experience\/\"><span style=\"font-weight: 400\">improve their customer experience<\/span><\/a><span style=\"font-weight: 400\"> \u2013 from product development to informing sales and support teams \u2013 creating positive sentiment and maintaining customer loyalty.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Let\u2019s talk about what makes for a good <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> and what difference it can make for your success.\u00a0<\/span><\/p>\n<h2><b>What are the components of a go-to-market strategy?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">go-to-market strategies have several layers, which we\u2019ll discuss in more depth later. In general, a solid document will contain your:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Objectives: <\/b><span style=\"font-weight: 400\">What you plan to do and how to achieve your goals.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Customer attraction strategy: <\/b><span style=\"font-weight: 400\">How you plan to attract customers and convince them that you\u2019re the best option for them.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Sales strategy: <\/b><span style=\"font-weight: 400\">Your sales model and how you intend to promote your product.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Delivery strategy:<\/b><span style=\"font-weight: 400\"> How you plan to get your products to customers, whether via direct shipping, through a middleman, etc.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Customer support strategy:<\/b><span style=\"font-weight: 400\"> How you plan to handle potential issues and support your customers when they have difficulties using your products.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">While every product launch should focus on the \u201cobjective\u201d part, the other aspect will be prioritized differently, based on conditions such as the market and the product itself.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For instance, launching an iterative piece of software will require you to focus efforts on customer support, and a new yogurt flavor may need a clearer sales strategy.<\/span><\/p>\n<p><span style=\"font-weight: 400\">To understand how to slice your pie the best way, you\u2019ll need to perform quality market research and dive into the data.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are some points to consider.<\/span><\/p>\n<h2><b>4 key points about data-driven go-to-market strategies<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Like many other marketing solutions, when done right, the <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> is very useful and improves a brand\u2019s sales and earnings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">There are a few components for an efficient and effective <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\">. One main thing to consider when creating a marketing strategy is its market definition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A good <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> has to define the consumer market for a product or service, helping optimize short- and long-term marketing efforts.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Another important aspect is the focus. The marketing strategy needs to focus on the product or service and its benefits to customers in the current market. It should highlight what a brand can offer customers that competitors can\u2019t.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, an efficient <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> should be flexible. In an ever-changing market, innovation is key. A successful <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> is pliable and can be modified to match brand innovation.\u00a0<\/span><\/p>\n<h3><b>Solving customer pain points<\/b><\/h3>\n<p><span style=\"font-weight: 400\">A pain point is a problem current or potential customers are experiencing with a product.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Pain points can be present in many different parts of the customer experience:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Financial:<\/b><span style=\"font-weight: 400\"> Customers spend a lot on the current product or service and want to reduce costs.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Productivity: <\/b><span style=\"font-weight: 400\">Customers waste too much time using the current product or service and want a more efficient solution.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Support:<\/b><span style=\"font-weight: 400\"> Customers aren\u2019t getting the support they need along the customer journey stages.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Moreover, many customer pain points combine issues from several categories.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">To successfully deal with customers\u2019 pain points and present your brand as a viable solution, you first need to <\/span><a href=\"https:\/\/www.revuze.it\/blog\/customer-signals-that-product-managers-need-to-listen-to\/\"><span style=\"font-weight: 400\">identify the problems<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A quality <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> relies on data collected to do just that.\u00a0<\/span><\/p>\n<h3><b>Improving product marketing<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Product marketing is the term for promoting and selling a product or service.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It entails deciding on product positioning and messaging, launching the product, and more. Successful data-driven product marketing relies on quality information.<\/span><\/p>\n<p><span style=\"font-weight: 400\">And to get that information, you\u2019ll need to perform <\/span><a href=\"https:\/\/www.revuze.it\/blog\/market-research\/\"><span style=\"font-weight: 400\">market research<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This will provide you with information about potential customer markets, along with the needs and pains that affect them.<\/span><\/p>\n<p><span style=\"font-weight: 400\">One way of performing market research is by listening to your customers.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Social media has become a platform for customer reviews, customer service, and product promotion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Through this, <\/span><a href=\"https:\/\/www.revuze.it\/blog\/voice-of-customer-vs-social-listening\/\"><span style=\"font-weight: 400\">social listening<\/span><\/a><span style=\"font-weight: 400\"> is a great way to assess what messaging will work best and learn what social sentiment a brand is creating.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The go-to-market strategy provides a sturdy base for more focused market research and <\/span><a href=\"https:\/\/www.revuze.it\/blog\/roi-of-product-development\/\"><span style=\"font-weight: 400\">voice of customer analysis<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Using a well-constructed strategy ensures the messaging is consistent and in tune with buyer personas and attitudes, helping sales teams to optimize marketing and get better sales and revenue.<\/span><\/p>\n<h3><b>Innovating your brand and product<\/b><\/h3>\n<p><span style=\"font-weight: 400\">As we said earlier, innovation is key in today\u2019s highly competitive market. Businesses innovate using two main ways:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The first is <\/span><a href=\"https:\/\/www.revuze.it\/blog\/what-is-product-innovation\/\"><span style=\"font-weight: 400\">product innovation<\/span><\/a><span style=\"font-weight: 400\">, meaning a new solution to a problem many consumers encounter. A brand can offer a product that addresses a formerly untouched issue or one that addresses the problem in a different way.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The second is <\/span><a href=\"https:\/\/www.revuze.it\/blog\/brand-strategy-and-innovation\/\"><span style=\"font-weight: 400\">brand innovation<\/span><\/a><span style=\"font-weight: 400\">, which is when a brand does something new. This can be launching a new product or making changes to an existing one.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Creating a go-to-market<\/span><span style=\"font-weight: 400\"> strategy<\/span><span style=\"font-weight: 400\"> is a great foundation for a successful innovation of any kind, especially when it\u2019s data-driven.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Having a strategy helps focus innovation efforts around set goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, It maintains priorities and sharpens innovative ideas. This creates an improved innovation process that is more likely to aid brand growth and survival.<\/span><\/p>\n<h3><b>Crossing into new territories<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Cross-border ecommerece shopping is taking the world by storm. It\u2019s set to <\/span><a href=\"https:\/\/internetretailing.net\/international\/cross-border-ecommerce-to-account-for-38-of-all-sales-by-2023-driven-by-marketplaces-24635\/#:~:text=Cross%2Dborder%20ecommerce%20is%20set,sales%20as%20an%20eCommerce%20model.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">exceed $1.9 trillion<\/span><\/a><span style=\"font-weight: 400\"> In 2022, growing even further in 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As consumers shift more and more to online shopping, businesses must prepare themselves and expand their ecommerce abilities to new territories.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But before opening up your wares to international shoppers, it\u2019s imperative to prepare a strategy to penetrate these new markets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A few essential steps to make before the expansion include product research, cross-border taxes, logistic costs, language barriers, and more.<\/span><\/p>\n<h3><b>Gathering data for a data-driven go-to-market strategy<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Now that we reviewed the aspects and advantages of the <\/span><span style=\"font-weight: 400\">go-to-market strategy,<\/span><span style=\"font-weight: 400\"> let\u2019s talk about how you can get the data needed to create a data-driven one.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Performing customer-centric market research provides insight into customer desires, needs, and attitudes.<\/span><\/p>\n<p><a href=\"https:\/\/www.revuze.it\/products\/\"><span style=\"font-weight: 400\">Revuze<\/span><\/a><span style=\"font-weight: 400\"> offers AI-powered Customer Experience (CX) analysis to help you better design marketing strategies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Revuze developed <\/span><a href=\"https:\/\/www.revuze.it\/blog\/competitive-intelligence\/\"><span style=\"font-weight: 400\">the first self-training, low-touch AI technology<\/span><\/a><span style=\"font-weight: 400\"> that collects and analyzes data automatically and delivers consumer insights valuable for data-driven <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> design.<\/span><\/p>\n<h2><b>How to build an excellent go-to-market strategy?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">By now, you might be thinking, how exactly do I build a go-to-market strategy? I\u2019ve read all of this information on what they\u2019re about and what they do, but I have no clue how to build one.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fear not. We\u2019ve outlined nine simple steps to take you from novice to expert.<\/span><\/p>\n<h3><b>#1 Find your product-market-fit<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Every product launch should be designed to solve a problem.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A great product looks at what consumers want, addressing their pain points and drawing customers to it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">There\u2019s no use in providing a product that a competitor makes cheaper, sturdier, and easier to use.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It\u2019s a concept known as product-market-fit, the ability of a product to satisfy a demand that the market creates.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you manage to nail down your product-market-fit, you\u2019re off to a great start.<\/span><\/p>\n<h3><b>#2 Define your target audience<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Every product launch has a target audience. Those people who ideally will be the ones to buy your product. If you want to define them, you need to look at the following factors:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What problems does your product solve?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Who has these problems?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How much are they willing to pay to solve said problem?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">If your product only solves a minor problem, your price must reflect that. Customers aren\u2019t usually willing to spend a lot to satisfy a minor issue.<\/span><\/p>\n<h3><b>#3 Research your competition and the current market state<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Unless you\u2019ve spotted a gap in the market that no one else provides, you can expect to see competitors already existing within your market space.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In order to get a leg up on them, you need to know them. Asking the following questions will help see the full picture:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Who already provides a similar product?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What demographics and geographic areas do your competitors consider their target audience?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Are your competitors meeting the demand that customers create? Is the market oversaturated, undergoing scarcity, or somewhere in between?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What do <\/span><b>you<\/b><span style=\"font-weight: 400\"> provide that your competitors do not? Conversely, do your competitors\u2019 products have any features that yours lack?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Competitive analysis, as it\u2019s known, is key to understanding your position within the market, your strengths &amp; weaknesses, and any opportunities &amp; threats that might come your way.<\/span><\/p>\n<h3><b>#4 Decide on your key messages<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Once you know who you\u2019re targeting, you need to decide what messages you\u2019ll convey to them.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Each demographic you target will require a personalized approach since they will react differently to the same message.<\/span><\/p>\n<p><span style=\"font-weight: 400\">You should create what\u2019s known as a value matrix. This is a summary of:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Their pain points.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How your product might solve said pain points.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How do you plan to convey that to your customers?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Buyer personas will assist you greatly here, as well as simulations of customers with their problems, values, and goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">You can use these to get an idea of what a particular demographic might want and how they might respond to you.<\/span><\/p>\n<h3><b>#5 Map out your customer journey<\/b><\/h3>\n<p><span style=\"font-weight: 400\">The customer journey is the sum total of interactions that a customer has with you, from first hearing about you and your products, all the way to the point of purchase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The way to map out your customer journey is to identify:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What touchpoints exist between you and your customers?<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">How do you want to influence your customers at those touchpoints?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">And from there,<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">What type of interaction is needed to facilitate your ideal influence?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The best way to visualize your touchpoints is in the buyer\u2019s funnel. This splits the customer journey into three sections:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Top: <\/b><span style=\"font-weight: 400\">Customers have a problem but are not yet in contact with you.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Middle: <\/b><span style=\"font-weight: 400\">Customers know you exist but aren\u2019t sure if you are the best option out of the range of potential products.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Bottom: <\/b><span style=\"font-weight: 400\">Customers decide whether or not to purchase your products.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The touchpoints within each funnel section will roughly aim to grab the customers\u2019 attention in the top phase, convince them what you offer is best for them in the middle phase, and convince them to commit to buying from you in the bottom phase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the combination of your aims at each step and your target demographics, you can work out exactly what you need to communicate to your customers and how you should do it.<\/span><\/p>\n<h3><b>#6 Choose your marketing channels<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Marketing channels vary wildly, from TV commercials to internet adverts, newspaper prints to marketing emails.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Each demographic will have its preferred way of communicating, and it\u2019s up to you to align with your customers\u2019 preferences if you want to stay relevant.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Generally, you should choose your marketing channels based on how your demographics consume content. If you have multiple target demographics, choose multiple channels accordingly.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Further, we recommend using different marketing channels for each customer journey stage.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For instance, a YouTube ad might make customers aware of you and push them down the top of the funnel, whereas an email or presentation will help them pick you out from among dozens of other products within the middle.<\/span><\/p>\n<h3><b>#7 Choose your sales plan<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Ultimately, a go-to-market strategy aims to generate sales and revenue. Thus, you need a sales plan.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">There is a myriad of different sales strategies you can use, but some of the most common ones are:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li style=\"font-weight: 400\"><b>Self-service:<\/b><span style=\"font-weight: 400\"> Customers find you and purchase from you on their initiative.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Inside sales:<\/b><span style=\"font-weight: 400\"> Your sales team forms a relationship with your customers and convinces them to buy from you.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><b>Field sales: <\/b><span style=\"font-weight: 400\">Your sales team focuses on closing big deals, focusing on enterprises.<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Channel sales: <\/b><span style=\"font-weight: 400\">You pass your product on to an external partner, who sells your product for you.<\/span><\/li>\n<\/ul>\n<ul>\n<li><b>Inbound sales: <\/b><span style=\"font-weight: 400\">Sales processes are adjusted based on buyer actions.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400\"><b>Outbound sales:<\/b><span style=\"font-weight: 400\"> Sales processes are adjusted based on seller actions.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Cross-selling: <\/b><span style=\"font-weight: 400\">You focus on selling your product in conjunction with others.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Up-selling:<\/b><span style=\"font-weight: 400\"> Your sales team takes existing customers and encourages them to upgrade.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Each of these models has its strengths and weaknesses, and the decision to use is ultimately up to you. You should pick one that aligns well with your product and business model.<\/span><\/p>\n<h3><b>#8 Decide on your goals<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Goals are factors such as sales figures in a specific amount of time, sales figure growth, amount of consumers contacted, etc.<\/span><\/p>\n<p><span style=\"font-weight: 400\">They tell you whether or not your strategy is working and whether carrying on the way you currently are is the best way to continue.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Goals often fall under frameworks such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Key Performance Indicators (KPIs).<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Objectives &amp; Key Results (OKRs).<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Specific Measurable Achievable Realistic Time-Bound Goals (SMART Goals).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">You can use one of the above to set your goals, a combination of two, or even all three!<\/span><\/p>\n<h3><b>#9 Lay out the steps that will help you achieve your goals<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Now that you know what you want and how you can achieve it, it\u2019s time to set out the steps to help you get there.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Creating a clear and well-crafted go-to-market strategy means working backward, seeing the obstacles that might appear in your path, and how to avoid them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For instance, you might have a goal of selling 10,000 units of your product within a month.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, an <\/span><b>obstacle<\/b><span style=\"font-weight: 400\"> you foresee is that your sales teams might use different strategies, only some of which are effective.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The solution to this problem is to find the optimum sales strategy and communicate this to all teams.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Of course, these steps aren\u2019t the be-all, end-all.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Once you have a go-to-market plan, you may need to adjust it based on new information.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This doesn\u2019t mean that you\u2019ve failed to create an effective strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A go-to-market strategy, by its nature, treads into untested waters, so there are bound to be a few hiccups.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Keep your steps clear and flexible in case you need to re-evaluate your strategy. Share any updates you make with your teams, stakeholders, and management so that they know what\u2019s going on and, most importantly, <\/span><b>why<\/b><span style=\"font-weight: 400\"> it\u2019s happening.<\/span><\/p>\n<p><span style=\"font-weight: 400\">You should be all set by now, ready to draft a winning go-to-market strategy. But before you go and do that, let\u2019s check out some winning examples from leading brands.<\/span><\/p>\n<h2><b>Winning go-to-market strategy examples<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23936\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-6.png\" alt=\"unnamed\" width=\"768\" height=\"432\" srcset=\"https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-6.png 768w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-6-300x169.png 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/p>\n<h3><b>Smart Coach by Fitbit<\/b><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23935\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-5.png\" alt=\"unnamed\" width=\"276\" height=\"183\" \/><\/p>\n<p><span style=\"font-weight: 400\">Fitbit manufactures activity trackers. A few years ago, they launched a premium service and personal training app, which can be integrated with the user\u2019s Fitbit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fitbit\u2019s go-to-market strategy for the Smart Coach involved:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Using paid and owned channels to reach the target audience.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Understanding their target audience consisted of people who own Fitbit devices.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Leveraging push notifications, social accounts, and emails to reach potential customers.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">As a result, Fitbit earned around $192 million in revenue through its GTM strategy.\u00a0<\/span><\/p>\n<p><b>Key Takeaway:<\/b><span style=\"font-weight: 400\"> If you are releasing a new feature, inform your existing customers first.\u00a0<\/span><\/p>\n<h3><b>Eight Sleep\u2019s partnership with IFTTT<\/b><\/h3>\n<p><span style=\"font-weight: 400\">A smart mattress manufacturer, Eight Sleep, created a <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> for a new feature of their existing product.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Eight Sleep partnered with IFTTT, a free service that lets you create conditional statements and integrate various apps. Together, they developed a new feature that allows its customers to simplify their night and morning routines.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Users can connect their mattress with their smart home system to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Turn lights on or off.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Start their coffee machines.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Lock the door.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Activate bed warming.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Customers could perform all these activities from their smartphones and virtual assistant devices.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Eight Sleep\u2019s go-to-market strategy for the new feature involved:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Sending emails to the entire user base to help them realize the possibilities.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Creating a dedicated landing page to inform and educate users about the new feature.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Highlighting the benefits and use cases of their feature on Facebook and Instagram.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Getting themselves included in the IFTTT guide and newsletter.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Key Takeaway:<\/b><span style=\"font-weight: 400\"> Apart from informing your existing customers, leverage social media marketing and get featured in major publications to broaden your reach.\u00a0<\/span><\/p>\n<h3><b>Upscope leveraging live chat to target a new segment of customers<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Upscope is a screen-sharing software. When it was founded, many screen-sharing software packages were already available in the market.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23933\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-3.png\" alt=\"unnamed\" width=\"1528\" height=\"553\" srcset=\"https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-3.png 1528w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-3-300x109.png 300w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-3-1024x371.png 1024w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-3-768x278.png 768w\" sizes=\"(max-width: 1528px) 100vw, 1528px\" \/><\/p>\n<p><span style=\"font-weight: 400\">To make themselves stand out, they created a GTM strategy that consisted of:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Creating ways to use live chat to target a new segment of customers (technical support, onboarding specialists, and customer success teams).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Leveraging content marketing to drive traffic to their website.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">To get listed on their websites, partner with existing live chat companies such as LiveChat, Zendesk, Drift, and Intercom.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">As a result, Upscope has acquired over 600 customers and is increasing.\u00a0<\/span><\/p>\n<p><b>Key Takeaway: <\/b><span style=\"font-weight: 400\">Partner with other businesses with a complementary audience to yours. Use their existing reach to boost your brand awareness.\u00a0<\/span><\/p>\n<h3><b>The new storytelling feature launched by VSCO during COVID-19<\/b><\/h3>\n<p><span style=\"font-weight: 400\">VSCO allows users to capture and edit visuals (photos and videos) and launched a new tool called \u201cMontage.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It is a multimedia creation tool that brings visual storytelling to life in a new dynamic way through a video.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23932\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-2-1.png\" alt=\"unnamed\" width=\"1200\" height=\"799\" srcset=\"https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-2-1.png 1200w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-2-1-300x200.png 300w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-2-1-1024x682.png 1024w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-2-1-768x511.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span style=\"font-weight: 400\">Their <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> involved addressing the current environment and our challenges as humans.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Their product announcement message was also crafted keeping in mind how their product helps us connect in the age of social distancing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Their email copy reads, <\/span><i><span style=\"font-weight: 400\">\u201cas the world slows down, we know that these times can be difficult and uncertain. And in a small way, we hope our community connects you with others around the world.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400\">This is great because they first addressed the current situation and then how their product helps us solve this problem.\u00a0<\/span><\/p>\n<p><b>Key Takeaway: <\/b><span style=\"font-weight: 400\">In times of crisis, aim to help your community. Explain how your product can help your customer in difficult times.\u00a0<\/span><\/p>\n<h3><b>Nisolo launches new slippers to make Work From Home more comfortable<\/b><\/h3>\n<p><span style=\"font-weight: 400\">When most people around the world stay at home due to the fear of COVID-19, Nisolo launched a new slipper to make work from home more comfortable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nisolo ensured their marketing message doesn\u2019t look promotional and showed how they care about their customers.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23931\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-1-1.png\" alt=\"unnamed\" width=\"250\" height=\"364\" srcset=\"https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-1-1.png 250w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-1-1-206x300.png 206w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/p>\n<p><span style=\"font-weight: 400\">Nisolo\u2019s email copy first focuses on the email subscribers\u2019 emotional well-being and then announces its new slippers.\u00a0<\/span><\/p>\n<p><b>Key Takeaway:<\/b><span style=\"font-weight: 400\"> Create unique products that focus on helping your target audience rather than selling to them.\u00a0<\/span><\/p>\n<h3><b>Huawei\u2019s entry into the Indian market<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Huawei is one of the most prominent telecom suppliers in the world. However, the telecom equipment market was overcrowded when Huawei was planning to enter the Indian market. Their biggest challenge was to make an impact to outdo their competitors (Apple and Samsung).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">To increase its chances of succeeding in India, Huawei developed a <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> that involved building local R&amp;D centers to hire locals and show commitment to creating value for the country.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Further, Huawei partnered with a leading Indian English-language news channel to sponsor a contest. In the competition, Huawei smartphones were projected as aspirational products, contrary to the popular belief that Chinese products are low quality.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of now, India is Huawei\u2019s second-largest research base outside China. In the first three quarters of 2017, Huawei <\/span><a href=\"https:\/\/www.zeebiz.com\/companies\/news-huawei-sees-india-in-top-5-revenue-generating-markets-for-its-enterprise-business-in-next-5-years-72256\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">grew 60%<\/span><\/a><span style=\"font-weight: 400\"> in India\u2019s enterprise business, higher than the global average (43%). Huawei India\u2019s global production <\/span><a href=\"https:\/\/www.counterpointresearch.com\/global-handset-production-2021\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">increased steadily until 2021<\/span><\/a><span style=\"font-weight: 400\"> when the 2019 US sanctions against China caused the business to <\/span><a href=\"https:\/\/www.outlookindia.com\/business\/iphone-sales-in-china-edge-past-crisis-hit-huawei-news-218832\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">drop production<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>Key Takeaway: <\/b><span style=\"font-weight: 400\">When entering new markets, identify your biggest challenge and create strategies to solve them first.\u00a0<\/span><\/p>\n<h3><b>TaxJar\u2019s content marketing strategy to build trust<\/b><\/h3>\n<p><span style=\"font-weight: 400\">TaxJar offers tax solutions to businesses. When launching, the company looked at itself as a technology company first and a tax company second. Their primary aim was to make a better product than what was available in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">They also noticed that most of the content on the internet related to tax was either hard to find or difficult to understand.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">TaxJar started publishing the best possible educational content to help its target audience understand everything about sales tax.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As a result, TaxJar built trust with its target audience and started getting customers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">When it comes to sales tax, more than <\/span><a href=\"https:\/\/www.taxjar.com\/blog\/taxjar-will-be-joining-stripe-to-help-build-the-worlds-tax-compliance-infrastructure\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">20,000 businesses and developers trust TaxJar<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>Key Takeaway:<\/b><span style=\"font-weight: 400\"> Conduct market research to identify gaps in the current market and fill them to build trust with your audience.\u00a0<\/span><\/p>\n<h3><b>Symyx\u2019s plan to penetrate new market segments<\/b><\/h3>\n<p><span style=\"font-weight: 400\">In 2008, Symyx created a GTM strategy to ensure the successful launch of its ELN (Electronic Laboratory Notebook).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Symyx\u2019s <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> included:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Print advertising to boost brand awareness and build confidence.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Author or appear in 12 feature articles in target publications to emerge as a thought leader in the ELN market.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Publish case studies to demonstrate the effectiveness of their product.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In the same year, Symyx generated $9.6 million in revenue.\u00a0<\/span><\/p>\n<p><b>Key Takeaway: <\/b><span style=\"font-weight: 400\">Make the most of PR strategies and demonstrate what value your products can generate.\u00a0<\/span><\/p>\n<h3><b>Slack\u2019s product-led go-to-market strategy<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Slack is one of the leading business communication platforms in the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Slack\u2019s <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> was to rely on product features and usage to increase customer acquisition, retention, and expansion.\u00a0\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23937\" title=\"unnamed\" src=\"https:\/\/revuzeblog.wpengine.com\/wp-content\/uploads\/2022\/09\/unnamed-7.png\" alt=\"unnamed\" width=\"1200\" height=\"628\" srcset=\"https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-7.png 1200w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-7-300x157.png 300w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-7-1024x536.png 1024w, https:\/\/www.revuze.it\/blog\/wp-content\/uploads\/sites\/2\/2022\/09\/unnamed-7-768x402.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><span style=\"font-weight: 400\">They didn\u2019t aim to sell software. Instead, it sought to sell a positive user experience.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the <\/span><a href=\"https:\/\/medium.com\/@stewart\/we-dont-sell-saddles-here-4c59524d650d\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">memo shared<\/span><\/a><span style=\"font-weight: 400\"> by Stewart Butterfield to his team before they released the product, he said,<\/span><i><span style=\"font-weight: 400\"> \u201cPeople buy \u201csoftware\u201d to address a need they already know they have or perform some specific task they need to perform.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">However, if we are selling \u201ca reduction in the cost of communication\u201d or \u201czero effort knowledge management\u201d or \u201cmaking better decisions, faster\u201d or \u201call your team communication, instantly searchable, available wherever you go\u201d or \u201c75% less email\u201d or some other valuable result of adopting Slack, we will find many more buyers.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400\">Slack ensured that its product was better than any other business communication platform. They also ensured that their product was user-friendly and easy to use. Slack created a \u201ccustomer development team\u201d to better serve its customers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As a result, Slack became the fastest-growing SaaS company of all time. Slack grew from $0 billion to $4 billion in valuation in four years and currently earns <\/span><a href=\"https:\/\/investor.slackhq.com\/news\/news-details\/2021\/Slack-Announces-First-Quarter-Fiscal-Year-2022-Results\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">over $250 million a quarter<\/span><\/a><span style=\"font-weight: 400\"> as of 2022.<\/span><\/p>\n<p><b>Key Takeaway: <\/b><span style=\"font-weight: 400\">Make your product better than your competitors. Create an excellent customer support team to help your customers make the most of your product.\u00a0<\/span><\/p>\n<h2><b>Go-to-market strategies in times of crisis<\/b><\/h2>\n<p><span style=\"font-weight: 400\">COVID-19 is somewhat behind us, but it taught us much as marketers.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Launching a product during a crisis is different than entering the market on regular days. You need to be very cautious with your sales strategies, marketing messages, and who to target.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Get yourself ready for the next turmoil by following these tips.<\/span><\/p>\n<h3><b>Optimize your messaging, targeting, and pricing<\/b><\/h3>\n<p><span style=\"font-weight: 400\">As a business owner or a marketer, it is your responsibility to ensure your messaging doesn\u2019t hurt your target audience\u2019s sentiments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, during the COVID-19 times, using words like \u201cget in touch\u201d or \u201cmeet our team\u201d wasn\u2019t a good idea. Instead, we used phrases, such as \u201ccall our sales team,\u201d or \u201clet\u2019s get on a video call to discuss business opportunities.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Make sure to optimize the people you are targeting. If you were targeting small businesses before COVID-19, check if they are operating now or are adversely affected by the crisis.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the same time, the world economy is taking a hit. Many people and businesses are struggling financially. If you can afford it, reduce your product\u2019s pricing for a limited time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, <\/span><a href=\"https:\/\/global.abb\/group\/en\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">ABB<\/span><\/a><span style=\"font-weight: 400\"> has waived the fee for its numerous software services until the end of 2020 including ABB Ability Connected Services, RobotStudio, ABB Electrical Distribution Control System, and iUPSGuard software for hospitals.\u00a0<\/span><\/p>\n<h3><b>Focus on making things easier for your customers<\/b><\/h3>\n<p><span style=\"font-weight: 400\">In any type of crisis, people are going to be stressed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">To help reduce the stress, look to eliminate any barriers to helpful information, offer additional access to support resources, and reach out to existing customers to understand their situation.<\/span><\/p>\n<p><a href=\"https:\/\/www.campaignmonitor.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">Campaign Monitor<\/span><\/a><span style=\"font-weight: 400\"> sent an email to all its subscribers that gave them an option to \u201cpause the marketing emails for 30 days.\u201d They also added a link to new content relevant to the times of COVID-19.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is great because not everyone wants to receive promotional emails at this time. When a brand takes the initiative to make its customers\u2019 life easier, it will be remembered for longer.\u00a0<\/span><\/p>\n<h3><b>Help the community to earn a good name for your brand<\/b><\/h3>\n<p><span style=\"font-weight: 400\">Helping the community shows you are not just here to make money, and you care about the people around you.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Therefore, it is crucial to help your community in any way possible. It doesn\u2019t matter how big or small your contribution is.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, to help first responders fight COVID-19, Under Armour delivered 20,000 face masks to Johns Hopkins Health System.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under Armour also donated $1 million to Feeding America to support hunger relief efforts due to current school closures and quarantines.\u00a0<\/span><\/p>\n<h3><b>Think beyond the immediate crisis\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400\">While optimizing your <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> in times of crisis, it is crucial to think beyond the immediate crisis, as each presents lingering effects.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Most people may be done with face masks, but social distancing is still prevalent.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Brands with offline stores must consider ways to sell products and accept payments while prioritizing social distancing.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Companies that relied upon on-field sales agents to sell their products will have to think of new ways to get their products across, such as self-service or inside sales business models.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The best way to \u201cthink beyond the immediate crisis\u201d is by building a team of creative people who can brainstorm and predict how the world might change.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Note: It isn\u2019t only about your company or your industry but about how the world might change after the crisis. Think about how you can use it to create new business opportunities.\u00a0<\/span><\/p>\n<h2><b>Wrap-up and takeaways<\/b><\/h2>\n<p><span style=\"font-weight: 400\">A <\/span><span style=\"font-weight: 400\">go-to-market strategy<\/span><span style=\"font-weight: 400\"> helps you ensure your product launch succeeds and acquire customers in the tough competitive market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It\u2019s important to remember it\u2019s ever-changing. A GTM strategy that proved true and successful last time won\u2019t necessarily yield the same results.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">You must keep up with the times and the people.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Data-driven market research will help keep an eye on what customers need and what pains them.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Only then you\u2019ll be able to devise a successful and fresh strategy to launch your brand new product and service.<\/span><\/p>\n<p><span style=\"font-weight: 400\">And what happens after? You\u2019ll need to start getting feedback and analyzing it. But that\u2019s a story for a different blog. <\/span><a href=\"https:\/\/www.revuze.it\/blog\/7-ways-to-improve-customer-feedback-analysis\/\"><span style=\"font-weight: 400\">Read it here<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When launching a new product or entering a new market, you would want to get the best possible results in terms of sales, brand awareness, ROI,<\/p>\n","protected":false},"author":37,"featured_media":23934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[16,25,31,34,41],"acf":[],"_links":{"self":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts\/23930"}],"collection":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/comments?post=23930"}],"version-history":[{"count":0,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts\/23930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/media\/23934"}],"wp:attachment":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/media?parent=23930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/categories?post=23930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/tags?post=23930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}