Markets Don’t Write Checks…
We have been researching B2B executive buying trends, while also studying the results of winning and losing “go-to-market” strategies for the past 10 years. There are two precise observations.
- Most Go-to-Market strategies fail to drive profitable, organic growth objectives…
- Because they fail to account for the dramatically changing buyer expectations
Developing a Go-to-Market strategy is vital to streamline corporate resources, but with today’s complex buying environment and rapidly evolving buying dynamic, you need to work backward from your customers.
When you sell to a business, you are selling to both the people authorized to make decisions and to the institution as a whole. This used to be relatively straightforward when the product you were selling fit the need for a specific stakeholder. That buyer was an expert in their field, would do the work to understand their requirements and work with a salesperson to discuss the solution.
Today, most problems that exist within companies are cross-functional – meaning there will be many “specific stakeholders” involved in a purchase. To get traction, an executive sponsor will have to referee the disagreeing experts. Customers don’t know how to create requirements for increasingly sophisticated solutions, nor do they have plans to get their teams to buy-into a direction.
To get a contract, salespeople today must navigate these increasingly complex agreement networks. This is why “no decision” rates are so high in most companies.
How to Create Cohesion
Our go-to-customer strategy has been developed based on the lessons learned from successful sales transformations. It’s intentionally both strategic and pragmatic because profitable revenue growth is a team sport. To succeed, you have to move past organizational silos and think about executing a commercial process.
Each pillar answers one key question designed to drive cohesion across your organization to simply execution for salesforce.
What journey are we taking our customers on, and what will their end state look like where they reach it?
Which customer types are we making strategic bets on, and are our teams’ resources appropriately to make sure those customers are successful?
What are the top five objectives each sales channel needs to accomplish, and what integrated sales and marketing programs are we driving to ensure success?
How well does our overall infrastructure (culture, policies, technology, etc.) make it easier for our client-facing people to make customers successful?