by Gloria Markova, originally posted on LinkedIn
Launching a new product or service in the B2B tech industry brings with it both excitement and challenges. To ensure a successful market entry and unlock maximum growth potential, having a Go-to-Market (GTM) playbook is key. When I first faced the task of developing a GTM strategy, I found myself searching for resources to wrap my head around what GTM tangibly meant. I came to realize that there is no one-size-fits-all approach to GTM, and each playbook will be uniquely tailored to the product, industry, and market. However, I discovered a basic framework with steps that can be adapted and applied across specific contexts, enabling successful GTM strategies.
In this post, I’ll draw from my personal experience in launching a B2B technology product, walking through the basic process of creating a GTM playbook specifically for a B2B tech company. While many components can be transferable beyond the B2B realm, I’ll focus on the nuances and key strategies of B2B GTM.
My goal is simply to share what I have personally seen and learned in the hopes to assist others in unraveling the intricacies of crafting an effective GTM strategy that aligns with their business goals and targets the right audience.
Step 1: Market Research and Analysis
The bedrock of an effective GTM playbook lies in comprehensive market research and analysis. Although both B2B and B2C endeavors involve understanding the market and customer needs, B2B demands a deeper grasp of business pain points and decision-making processes. Unlike B2C, where emotional appeals and personal preferences often take center stage, B2B marketing revolves around logical factors like ROI and efficiency. We’ll want to understand the addressable market – participants, size, etc. Perform customer discovery and/or market validation if resources permit. During this step, we want to identify what sets your product apart in addressing these pain points and how it can deliver a higher ROI for the business decision makers. The goal is to tailor your strategy to resonate with the logical considerations that drive B2B decision-making.
Step 2: Define Your Value Proposition
Craft a compelling value proposition that resonates with your B2B audience. In B2B, the value proposition must address specific business challenges and demonstrate how your tech solution can drive tangible outcomes. It’s crucial to emphasize the long-term benefits and ROI that your product can deliver, appealing to the rational decision-making process typical in the B2B landscape. Prospects should never be left wondering how your solution makes their company better and makes them look better for choosing your product.
As you define your value proposition, keep pricing considerations in mind. Pricing plays a critical role in B2B transactions, and it’s essential to find a balance between delivering value and ensuring your product is competitively priced. (Much more to discuss on pricing, but pricing strategies call for a separate post..)
Step 3: Customer Segmentation and Targeting
B2B customer segmentation involves understanding various business models, industry verticals, company sizes, and specific roles within organizations. Unlike B2C, where the focus is on individual consumers, B2B targeting involves reaching different stakeholders involved in the purchasing process. Tailor your marketing and sales strategies for each segment to ensure personalized communication that addresses their unique needs and challenges. (P.S I’ll have a post on the benefits of cohort-specific marketing coming soon – keep an eye out!)
Note: If you have an existing pipeline, use it! Take a look and see what existing customers feed into this products cohort segments – this will feed into outreach / sales strategy planning.
Step 4: Sales and Marketing Alignment
Effective collaboration between your sales and marketing teams is crucial for a successful GTM strategy. In B2B, the sales cycle is longer and often involves multiple decision-makers. Marketing plays a vital role in nurturing leads and providing valuable content to support the sales process. Regular communication and shared goals between the teams are essential to create seamless customer experiences throughout the B2B buyer’s journey. We’ll touch on this more in Step 7.
This alignment extends to the executive level as well – having a forum to brief stakeholders and solicit feedback leading up to a launch can be helpful in ensuring successful GTM execution. For example, I created a deck for a weekly GTM marketing sync with key stakeholders to ensure alignment, identify wins / blockers, and track progress.
Step 5: The Importance of Demos
In the B2B tech industry, demos are one of the best ways to showcase the true value of your product. B2B buyers tend to crave hands-on experiences to fully grasp a product’s capabilities. And trust me, you’ll want them to have this firsthand encounter too! Personalized demos, tailored to each specific prospect/cohort, can make all the difference in a deal process.
Now, personalized demos might seem daunting, especially during a scale-up phase of growth. BUT, they don’t have to be! There are ways to create scalable demos that still feel personal. The secret lies in strong cohort-segmentation and a deep understanding of your cohorts, including their specific use cases and applications.
Step 6: Channels and Content Strategy
Determine the most effective marketing channels to reach your B2B audience. In my latest B2B tech launch, we opted for a direct sales approach and achieved promising results. However, be always on the lookout for fresh strategies that can elevate your channel scale to new heights. Consider additional / alternative strategies, like an approach that turns fantastic customers into resellers themselves. Imagine the ripple effect – tapping into their networks could lead to untapped and even unknown market opportunities. B2B tech companies often benefit from digital marketing platforms like content marketing, white papers, social media, email campaigns, and search engine optimization (SEO). Create a content strategy that educates, engages, and nurtures potential customers, showcasing your expertise and thought leadership. (Also, lean-in to wireframes, demos, and videos!)
Side note: If the product warrants it, try to think of ways to also leverage a multi-channel sales approach as well. Leave no stone unturned.
Step 7: Sales Enablement
While a GTM strategy may seem outward-focused, its internal counterpart holds equal importance! Empowering your sales team is a critical aspect of driving B2B tech product success. Provide them (anyone selling your product) with the essential tools and resources they need to excel in selling your product.
Craft compelling sales collateral, case studies, and product documentation that highlight your product’s standout features and benefits. Conduct training sessions to ensure your sales reps are well-versed in articulating your value proposition and addressing customer concerns. Leverage the valuable information gathered in Steps 1 and 2 to equip your reps with talking points, effective positioning, and battlecards. After all, they are the boots on the ground, driving your product’s success in the market!
Step 8: Launch and Post-Launch Strategies
Plan a well-orchestrated product launch to create excitement and generate buzz within your target market. After the launch, monitor performance, gather customer feedback, and iterate your GTM playbook based on real-world insights.
Parting Words…
Crafting a winning GTM playbook starts with the basics: know your audience, deliver a compelling value proposition, showcase your product’s potential (ideally through demos), and leverage your team! Remember, it’s a living document, evolving with each product, market, and company stage. So, embrace change, seize opportunities, and continuously evolve your strategy.
