“If you fail to plan, you plan to fail” Go-to-market strategy for early stage companies
REGISTER HERE: https://www.rev-n.com/gtmrevopsframework
April 2024 (4 min read)
Crikey it’s tough to sell at the moment.
You’re passionate about your product and business yet you wake up in the middle of the night wondering why you are missing your numbers. Investors are pressing for answers, you feel hamstrung, and the folks responsible for generating revenue don't appear to know what's going on either. To make things worse, every time you want to join a customer call, you have a board meeting and the GTM teams aren't in the office when you go in. Then you jump into the CRM and it’s void of recent updates, only showing closed sales with no insights on pipeline movement. You phone the sales and marketing managers, and clear updates are hard to come by.
Fortunately, the customer success lead is quickly able to share the needs and feelings of your top client. A ray of sunshine! But how do you consistently gain the information needed to make informed decisions? Suddenly, the week has gone with more questions than answers.
Sound familiar? This 10 part content series is dedicated to helping you effectively plan, act, track, and iterate your approach to achieve your revenue goals. First steps to build the GTM strategy - a cohesive plan that aims to delight customers and could lead to achieving revenue goals, profitability and high-quality earnings.
Do you have a shared document that outlines your Go To Market Strategy?
1. Know your numbers
Can you view revenue trends by region, product, customer, sales person, source? What are these trends suggesting?
How clearly defined and well socialised are budgets, targets and progress towards them?
Are you on top of your unit economics?
2. Know your markets and customers
What are the strongest winds in your target market?
Who are your top existing customers? Why do they buy from you, how do they use your product and how important is it to their business?
What products are most popular with your customers and why?
Which customers decided not to renew with you? Why did this happen?
Do you regularly assess customer satisfaction? What have you learned?
3. Craft your approach to customers
How do you balance focusing on existing accounts versus acquiring new customers?
How do you plan to motivate interest in your business and product? Does your public image (websites, pitch decks, product materials) reflect your intentions?
What is your follow-up process once a customer makes a purchase?
How often are you seeing your customers in person? Are you and other senior leaders role modelling the customer behaviours expected from the GTM team?
4. Build and iterate your internal GTM engine - 'RevOps'
How would you like your CRM to be used by your GTM teams? To what extent is this happening?
Are there clear, repeatable, documented processes in place that everyone has learned and understood? Have they been updated for remote / hybrid working?
How effective is your communication to the GTM team? Does everyone know their role on the team and what good looks like?
Are targets and incentives regularly reviewed to make sure they still focus on desired behaviours? Importantly, does the GTM team believe that they are effective?
This 10 part content series aimed at Senior B2B leaders responsible for businesses or divisions generating 1-20m revenue, is designed to provoke thought, stimulate reflection, to challenge and most importantly to inspire action. It is a collaborative effort brought to you by The Maze and Rev-n.
The Maze is an advisory firm focused on helping senior B2B leaders to plan and achieve their growth ambitions, specifically focused on companies making the transition from start-up to scale up, with revenues between 1-20m.
Rev-n is dedicated to harmonising systems, processes and people to drive revenue growth. Discover how to unlock your revenue potential with data-driven insights and expert guidance.
We're excited about our upcoming first meetup focused on leveraging AI for effective GTM strategies. To join our content series and request registration for the event, please complete the form (https://www.rev-n.com/gtmrevopsframework)