Listen, is it possible to stumble your way into success?
Yes, for a bit.
But at the end of the day, everything has a formula.
A popular TikToker provides a certain type of content after finding the style that resonates most with their viewers.
It's the same with a company product or service.
You can change it later on, but then you need a new approach and GTM strategy – especially if you want longevity.
An example to think about is Netflix
, its switch from rental to streaming, and how through them streaming became the norm.
That is why you need a strategy.
Having a product or service is just step one – you have to understand how it fits in the market before you start selling it if you want to do well.
If we continue thinking about Netflix, they realized that rental was not going to continue. So they shifted gears and invested in something new. Something that solved the problem of physically having to purchase additional channels or technology to watch a movie or show continuously. And then they did it again, by creating their own content instead of just sharing others.
In 2023, the market for streaming services may be oversaturated. But in the early 2010s, when they were just starting to offer this legally, it was an absolute game changer.
They succeeded because they understood their market and had a great strategy. Illegal streaming was already happening, they simply found a way to make it legal and a lot easier for folks to access content to binge-watch.
A strategy many others went on to copy and adapt for their own subscription-based services.
So as you consider your own product or service and are looking to avoid failure, you should consider a GTM strategy. They don't immediately guarantee success, but they provide a framework and realistic expectations of how you will likely have some growth
And they serve as a roadmap for how to approach your target audience and really sell to them.