Top 3 Examples of Go-to-Market Strategies

Unveiling a new product, or rebranding your company, is never easy. How can you make sure you get it right? Go-to-market strategies are the answer. A go-to-market strategy (GTM) is the crystal-clear blueprint that leads you through all the steps of launching your product and improves the odds that your customers will be interested.

A practical and fine-tuned go-to-market strategy can take your company to the next level and decrease the chances of failure. Let's explore what goes into a successful GTM and take a look at how top brands have perfected the process.

What are go-to-market strategies?

A go-to-market (GTM) strategy is a comprehensive roadmap designed to introduce a product to the market successfully. Effective GTM strategy typically pinpoints a target audience, incorporates a marketing plan, and highlights a sales strategy. While each product and market is different, go-to-market strategies should consider the following:

• Product market fit—What problem(s) does your product solve, and how?

• Target market and audience—Who are you trying to reach?

• Pricing—How much will your product cost?

• Competition—Who is currently in the space, and how do you differentiate?

• Distribution channels—Where will your product be sold or distributed?

Why do you need a go-to-market strategy?

Creating a new product takes considerable time and resources. You don't want to bet the future of your business on a product that's unlikely to win over customers, right? A go-to-market strategy can help you feel confident that your product will be a raving success because you've taken the time to analyze the market, your competition, and what customers need.

A well-crafted GTM strategy can prevent mistakes and oversights like—

• Market oversaturation

• Poor product market fit

• Late timing for entry

• Targeting the wrong audience

Without a well-crafted GTM strategy, you might as well be winging it and hoping everything works out.

A solid go-to-market plan ensures you're putting your resources to the best use, targeting the right people, and, ultimately, maximizing your ROI.

Go-to-Market Strategies—How to Create One

While every GTM strategy is unique depending on the product and market, there are vital steps to consider when developing your strategy.

• Define potential customers—Who will most likely buy your product and why?

• Understand the competitive landscape—Who's already in the market?

• Test your messaging—How will you communicate with potential customers?

• Understand the buyer's journey—What do customers need to experience before they purchase?

• Craft a marketing strategy—What channels will you use to get the word out?

• Outline a pricing plan—How will you monetize your product?

• Develop your sales strategy—How will you close prospects and convert them into paying customers?

• Identify the essential metrics—Are you looking at conversion rates, customer retention, and more?

Don't let your GTM strategy go stale, or you risk falling behind. Once you've entered the market, look where your product fits and adjust as needed. Your strategy should be flexible and adaptable based on customer feedback and industry trends.

Examples of Brands that Nailed GTM Strategy

Well-planned go-to-market strategies can be the difference between sold-out success and failure. To illustrate this, let's look at three excellent examples of top brands that have nailed their GTM strategy.

01—Afterpay

Afterpay, the Australian-based buy-now-pay-later (BNPL) service, disrupted the Fintech industry with its modern take on debt-free shopping. Afterpay offers customers a payment plan for their purchases with no interest or upfront costs.

Afterpay's approach to the BNPL model was a free and incredibly convenient payment system. One that's hassle-free for both users and merchants. Its success banked on solving one fundamental problem for customers—how to pay for bigger purchases without going into debt.

What was Afterpay's go-to-market strategy?

While there were plenty of BNPL competitors like Klarna and Affirm, Afterpay stood out by focusing on a strong go-to-market strategy that set them apart from the rest.

First, they zeroed in on a better product/audience fit. They didn't sell to all shoppers—they focused on beauty and fashion shoppers that had a high purchase rate. This gave them an advantage in snagging merchant partnerships, and quickly, they were securing more and more high-value deals. Plus, this particular audience can't resist sharing their purchases on social media—fueling the growth of Afterpay.

What was their other key advantage to the GTM strategy?

They entered the wide-open Australian market, which had no other BNPL players. This strategy helped them develop their product and expand without constantly running into competitors.

Equipped with an elegant go-to-market strategy, Afterpay has grown into a billion-dollar company with an active community of 14.6 million customers and 85.8 thousand active customers.

02—Khan Academy

Khan Academy is a free education platform offering online tools to help educate students. Started by Sal Khan and his family in 2006, Khan Academy's mission is to provide free education to anyone, anywhere.

Their go-to-market strategy was simple yet effective—they relied on inbound marketing and organic reach. Khan Academy launched free instructional math videos on YouTube and free workbooks online, then expanded into other subject areas based on viewer feedback. This content found its way into the hands of teachers and students. Word-of-mouth then helped spread the message.

Timing was also on Khan Academy's side, as its launch coincided with the growing digital education trend. They've seen tremendous growth as one of the first online education communities. The platform now reaches over 137 million users across 190 countries.

A GTM strategy focusing on organic reach can take longer to gain traction, but Khan Academy knew exactly what content was most needed by educators and made it accessible to a primed audience. Khan Academy is now used by over 200 thousand teachers worldwide, offered in 40+ languages, and ranks as the world's most popular online education platform.

03—Misfits Market

Misfits Market is an oddball online grocer that sells "ugly" produce at a discount and has found a way to stand out in the crowded grocery space. They've tapped into a winning go-to-market strategy by addressing food waste head-on, offering budget-friendly prices, and creating a relatable brand.

What's the secret to their strategy?

They pinpointed a problem facing customers—the inability to access affordable fresh produce that's not at peak ripeness. So, they set out to solve this problem by delivering ugly but still-fresh produce at low prices.

Who's their target audience? Twenty-five to forty-nine-year-olds that are conscious about their carbon footprint are looking for ways to save on groceries without compromising quality.

To get the message out, Misfits Market leveraged clever marketing tactics that make people love those "misfit" fruits and veggies, such as a series of viral recipe videos featuring culinary content creators and celebrity chefs. Memorable slogans like "Always fresh, sometimes normal" and "Deliciously ugly" have helped them gain a loyal customer base.

Misfits Market has expanded from subscription to full-fledged grocery stores, showing that a successful go-to-market strategy can help startups capture a new market and expand into a traditional one.

Wrapping it Up

By preparing comprehensive go-to-market strategies, your brand can enter the market with a bang, backed by thorough research and a well-planned approach.

Rebel is a research and strategy firm that helps businesses do just that—develop go-to-market strategies that are synced to their business goals. If you're a brand looking to make waves in your industry, we're ready to help you craft a go-to-market strategy that'll turn heads and drive success. Don't settle for a cautious approach—go big and be audacious. Let's go.