Through Lauren Dichter, Senior Marketing Consultant at Heinz Marketing
A strong go-to-market strategy divides great ideas into concrete, concrete steps so that team members can more easily achieve a common goal. When developing a go-to-market strategy, it helps to start with guiding questions, such as:
- What does an effective go-to-market strategy look like for our business?
- What are the key fundamentals that need to be established for our go-to-market strategy to be successful?
- How are we going to deliver our unique value proposition to our target market?
Share these questions with your marketing peers, and even with sales managers! Ask them to write down their answers and send them back; it’s a great way to bring together the team’s thoughts on demand generation, messaging, lead follow-up, and more. Then you can distill the answers into a few guiding principles, and everyone feels like they’ve had a say in the next go-to-market strategy.
Aligning Sales and Marketing as a GTM Superpower
Collaboration between sales and marketing, an effective go-to-market strategy requires—Contributes to better lead tracking. To be successful in the market, sales and marketing teams need the same data and information. In this way:
- Everyone is on the same page as to which accounts and contacts are most valuable, why they are so valuable, and how / when they engaged with the brand.
- Everyone has a common interest in achieving predefined metrics. Common goals, transparency and good data are key elements of an effective relationship between sales and marketing.
Plus, the buying journeys are more complex than ever as more buyers are involved in the purchase. As a result, the time it takes to make a purchasing decision is lengthened. This modern buying journey requires a seamless alignment between sales and marketing teams, where every action is coordinated around the prospect and customer engagement goals that both teams have agreed upon.
Challenges and obstacles to an effective GTM strategy
Although it is crucial to plan what you are going to do with your go-to-market strategy, it’s just as crucial to prepare for bumps and obstacles along the way. The challenges of developing and executing an effective go-to-market strategy include, but are not limited to:
- Putting everyone on the same page, or « alignment of goals »
- Gain a clear understanding and agreement on who constitutes the target audience, which accounts to pursue and how to pursue them
- Prioritization of resources
- Ensure that time, money and talent are spent in the most beneficial way for maximum success of the GTM
- Poor quality data
- Data you can’t trust
- Inability to support the hypothesis (or achieve sales-marketing alignment) around a campaign’s target account criteria, resource allocation, etc.
- A disconnect in the marketing campaign’s lead tracking strategy
If you are aware of such problems as professionals whose GTM strategies and campaigns have failed, you can avoid them altogether. Solve these issues preemptively before they emerge so you can focus on the task at hand, overseeing a go-to-market strategy that causes a stir.
Please comment below or contact us with success and failure stories from GTM. Was there an obstacle that was difficult to get around? We look forward to listening, learning, and providing advice on how to overcome any obstacles you face when developing and launching marketing campaigns!