Next, optimize your audience. Some ad platforms have highly targeted audience settings for advertisers. For example, LinkedIn offers options for job title, job function, company size, and geographic location. Test different options to see who is more likely to click or convert. For example, we noticed high clicks in certain industries, so we began targeting and using our ad budget to focus on those handful of industries on LinkedIn.
The engagement and conversion rates of your ads will indicate which value proposition and pain points work best. More or less, it will go like this:. In the traditional sales funnel, there is a lot of general interest at the top. It gradually narrows down as opportunities fall out of the pipeline. Instead, I propose using the flywheel methodology , which takes a more holistic approach that puts your customer at the center and turns your leads from prospects to customers to active promoters.
First up is the attract phase. This can be in the form of a blog, whitepaper, or video. A lead gets here by clicking on an ad, social media post, or a search engine result. However, these behaviors do not indicate that this lead is ready to make a purchase yet.
After that comes the engage phase. In this stage, a prospect has demonstrated they have a problem your product can solve. They show this through digital behavior like downloading an ebook or joining a webinar, giving you the opportunity to engage them with educational content. While each company divides the lead generation and qualification process differently, marketing is typically in charge of the attract and engage phases.
Halfway through the engage phase, the prospect should ask for a quote or a trial period. Once the prospect reaches this point, the sales team takes over. The process will typically look as follows:. Right after your sales representative closes the sale, the lead leaves the engage phase and enters the delight phase.
When your customer has reached this stage, they should be delighted with a painless onboarding process and friendly customer service options.
After that, your customer should ideally turn into a promoter. They bring you more customers, keeping the flywheel going and enabling you to grow better.
There are generally four go-to-market sales strategies — each one catering to a different product and business model. The self-service model is when a customer makes a purchase on their own. We typically see this model with B2C purchases in which a customer can find and buy a product via a website, like Netflix or Amazon. This works best for simple products with a low cost point and high volume of sales. The core marketing team would likely include growth marketing, performance marketing, and content marketing experts, though there will likely be other team members as well.
The inside sales business model is when a prospect needs to be nurtured by a sales rep to convert into a deal. This type of model works best with a product of medium complexity and price. The sales cycle ranges between a few weeks and a few months. With a high volume of sales, this model can be profitable and is fairly easy to build and scale as you hire more team members.
The sales team in this model is typically comprised of a sales manager that supervises a handful of reps. The field sales business model is when you have a full sales organization that closes large enterprise deals. The sales team in this model is often very costly as the field reps are experienced, high-salary employees.
This model is easy to build, but harder to scale, because it takes time and money to hire and train a full sales organization. Members include a sales manager, field reps, sales engineers, a sales development representative SDR team, and sales operations. Lastly, in the channel model , an outside agency or partner sells your product for you. This is hard to build, as the people can be difficult to recruit and educate on the benefits of your product.
They are also often less motivated to sell than your own sales team would be. For example, if you sell phone cases, you might want to find partners selling related products, like Best Buy or Apple.
You can mix and match these strategies based on industry or customer size i. Now you need to fill your pipeline by snagging the attention of your target audience. This occurs through demand generation, which can happen with both inbound and outbound strategies. With inbound, prospects discover your brand through marketing efforts and reach out to you or show signs of interest organically.
Some examples of organic inbound traffic channels could be social media, content, or paid ads leading to a landing page. Outbound demand generation is when a salesperson contacts a lead through cold outreach tactics.
They might do this by reaching out to a contact list, sending warm emails , phoning leads , or gathering leads at industry conferences. Once interest has been generated through these methods, sales conversations begin, and the leads are led to more educational content and then into the sales funnel. Inbound leads are generally easier to convert and cheaper to acquire than outbound leads. This is because inbound leads are already partially educated on the business problem you solve, aware of your product, and usually more interested in buying your product.
Teaming up with them on co-marketing initiatives will get you in front of the right people, generating awareness and demand for your product or service. Establishing a feedback loop between marketing, sales and product development will make sure the key learnings from your GTM strategy are actioned.
To create this loop, you need to make individuals accountable for different parts of your strategy. Having these individuals report on their progress in regular meetings will help you overcome stumbling blocks collectively.
Who's responsible for GTM strategy? What's the difference between market strategy and marketing strategy? What is a pricing strategy in GTM? What is a channel strategy in GTM?
A small group or pod of senior stakeholders from the sales, marketing, and product departments of your business should be responsible for GTM strategy. By comparison to larger GTM teams, this structure allows stakeholders to bypass long feedback loops, iterate on the GTM strategy, and develop your product. Alignment between pod members happens when you hold them all accountable to pre-agreed KPIs.
At the start of your GTM, the pod should come together to:. After this, the pod should reconvene in weekly catch-ups which include:. In that sense, the market strategy is just one part of the marketing strategy. In practice, a marketing strategy includes broad things like:. On the other hand, a market strategy includes specific things like:. For example, you may start by targeting SMBs before targeting mid-market and enterprise customers.
In the freemium model, you offer a free trial and try to upsell the solution to users. B2B lead generation platforms, for example, may cap this trial to a number of credits per month, hoping the details prospects find are enough to convert some into paid customers.
In the flat-rate model, users pay one price to access all product features, usually in monthly or annual instalments. In the user-based model, pricing increases as you add more users. Work management software, Monday. In the pricing-per-feature model, users can purchase different packages which provide different levels of access to product features. In a tiered package, customers get different levels of access depending on their price plan. For example, Cognism uses a widget for its G2 reviews and pays a set monthly fee for the platform, up until 5, views.
Once we break the 5, views threshold, we have to upgrade our package. This allows you to upgrade and downgrade as you please. Dynamic pricing takes seasonal demand into account, increasing and reducing costs accordingly. In skimming pricing, the vendor sells a new product at a higher price. This model is often used by electronics companies like Apple, which later reduces prices after launch. To decide the pricing strategy for your SaaS product, you should consider:.
Where you set up a company comes even before this — should it be a California llc? Nonetheless, there are core questions that must be answered in order for the plan to be meaningful. I find it useful to structure a GTM strategy framework along the 7Ws, so I will elaborate on that framework. In this step we have to identify the audience with the highest propensity to buy your product or service. You need to be able to define the audience as narrowly or broadly as necessary.
Typically brands — particularly B2B brands — would find it more efficient to target a smaller audience initially and then expand to other segments. For example, Freshworks or Freshdesk as it was known then at the time of launch was targeted at the kind of customers who used Zendesk. The audience could be plentiful in many locations or sparsely distributed around the world.
For an effective GTM strategy, we need to first identify where they are and then apply filters around:. For example, most Indian IT firms grew by focusing on the US market rather than India because you can charge a great deal more for the same service. If you look at their financials you will see that their profitability is always higher in the US than in India. This is an internal question. Why do you do what you do? Related Terms Channel Design. Customer Centricity. Customer Segmentation.
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