Thecomplexmixofstrategy,messages,products, and overall execution, known as their go-to-market strategy, just wasnt right.
Unfortunately, just one flaw with acompanysgo-to-market can make success seem like a distant mirage in a desert.
Why is it so hard to get your go-to-market right?
Most of these are based on myexperiencein the software world, but they apply broadly to almost anybusiness.
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In short, everyone is drinking the Kool Aid, just not the customer.
Ill go on record to state that this may not end well!.
Are you knocking on the wrong door?
Are you targeting the right buyer?
Every additional approval stage you oughta go through makes your sales cycle longer, and less likely to succeed.
Had we not made this critical change to our go-to-market strategy, the company would never have grown.
Conversely, a market-driven company might simply state: Our battery will power your car all day long.
Not being able to clearly articulate your business value will redirect potential buyers to your competition.
Your growth will be constrained until you overcome this problem.
I see it almost every day in the software world.
Tell me again, how much does it cost???
If you cannot explain your pricing in less than 10 seconds, it is too complex, period.
Keep it simple and easy to understand.
And if applicable always look for ways to structure your product licensing to create a long-term relationship.
Why sell a one year license when you’re free to secure a three-year license?
Yet its shockingly common that I receive a blank stare when I ask, What is your conversion rate?
I recommend that companies spend time focusing on fewer, yet more relevant metrics.
and how long will it take for an average sale to close (your sales cycle)?
and what is our current and desired conversion rate?
and last, what is an acceptable cost to acquire a customer?
I always strive to look at a rolling pipeline and aim for at least 4x what you need.
Ultimately, you must know your performance metrics and use them to properly fuel your go-to-market.
Often this happens for completely benign reasons.
The same sales team informed me that they only use presentations in the US and avoid showing products altogether.
ensure you have a consistent approach to your go to market and overall sales cycle.
Otherwise, coaching and measurement will be very difficult.
Very few marketing teams are aligned with sales teams.
Why is it just so damn hard to achieve success with your go-to-market?
As I have detailed above, there are many complex variables that must be optimized for an effective go-to-market.
Often, there is no single person who owns a companys go-to-market.
Instead, there is a separate sales perspective, marketing perspective, and a product perspective.
This forces the need for constant adjustment and realignment and tends to create tension.
I recommend finding an executive with broad experience who can oversee and continuously optimize your go to market.
Sometimes this can be done by the CEO, but time and bandwidth are often limiting factors.
I hope my experiences shared in this article have been thought-provoking for you.
Dan was also a First Sergeant and a sniper in the paratroopers.
