Since 2020, businesses have had to adapt many ways they do business, including their Go-to-Market strategy. It is no secret that 2020 was a challenging year for just about everyone. One of the most notable impacts on business was the residual effect of consumer (and business) behavior modifications. With so much uncertainty in the world, people and companies are being careful with their money and are more carefully considering every purchase they make.
For businesses, this means that the traditional marketing funnel is no longer as effective as it once was. Inbound marketing tactics are no longer as effective in reaching and converting customers.
Instead, businesses must adjust their go-to-market (GTM) strategy to appeal to the New Customer. Only by understanding the changing landscape of consumer behavior can organizations hope to succeed in the new world we find ourselves.
With solid preparation and planning, businesses can avoid being reactive and start being proactive.
Strategy without tactics is the slowest route to victory. Tactics without strategy are the noise before defeat.
– Six Sigma methodology
Planning is Everything
The team can hope to succeed only by having a clear path to victory from the outset. A team must have a defined plan to reach a destination together. Taking the time to plan out every step of the GTM strategy is principal to success.
Creating a successful product or service requires careful attention to detail at every stage. Each step must be flawlessly executed, from research and development, to production and delivery, to create a high-quality final product.
Transparency about areas of weakness or potential improvement is integral to a solid plan. This allows the team to address these issues while they’re small before they become problems. There’s no room for egos here.
In today’s fast-paced business world, it’s tempting to think that being first to market is the key to success. However, history has shown that this is only sometimes the case. Apple, for example, was not the first company to release a smartphone or tablet, but their timing – along with their sleek design and user-friendly interface – helped them become market leaders. Similarly, Netflix was not the first streaming service, but it carved out a successful niche by capitalizing on the popularity of broadband internet.
The lesson is clear: simply being first is not enough.
To be truly successful, you need to strike at the right moment.
Timing is everything. By proactively understanding the needs of your customers and being ready to meet them with innovative products and services, often before they even know they need it, you can ensure that you’ll be the one who comes out on top.
Be Proactive, Not Reactive
Being proactive instead of reactive in your marketing strategy can help you stay ahead of the curve, and maintain a competitive edge in business. By being proactive, you can anticipate customer needs and trends, as well as take steps to address them before they become problems.
You can avoid crises and keep your business running smoothly with this mindset. It can also help you build strong relationships with customers, as they will appreciate your efforts to anticipate and care for their needs.
In contrast, reacting in your business response means waiting for problems to arise before taking action. This often leads to more expensive, less effective solutions, and damage to your reputation.
Be True to Yourself When It Comes to the Product
When launching a product, it’s vital to get feedback from customers. However, it is crucial to keep in mind that people are often reluctant to give negative feedback for fear of offending the business or seeming unhelpful.
This makes it all the more important to ask the right questions to get an accurate picture of how people feel about your product.
For example, instead of asking:
“Do you like our product?”
“What do you think of our product?”
This will help ensure that you get honest feedback that you can use to improve your business and increase revenue growth.
Remember, never expect anyone to cry tears of joy when they learn about your product; instead, aim for a commitment from potential customers. With the right approach, you can get the feedback you need to create a successful outcome.
Asking the right questions will reveal authentic insights. Rob Fitzpatrick did a great job pinpointing human nature’s urge to be accepted and acknowledged by forcing biased feedback.
But still, they’ll prove to be extremely valuable insights.
Give Your Customers a Reason to Spread the Word
It’s not enough to provide a good product or service – you also need to give your customers something to believe in. What do you stand for? What are your core values? Your customers want to know that they are part of something grander, and that their voice matters.
Belief is a powerful thing. It can inspire loyalty, enthusiasm, and even evangelism for your brand. When customers believe in what you’re doing, they’re more likely to stick with you through thick and thin, and tell everyone they know about you. When customers are excited about your brand, they can do a lot of legwork for you and bring in business. When times are tough, they’ll be more forgiving and more likely to give you the benefit of the doubt.
By aligning yourself with something that matters to them, they feel like they’re in the loop, and moreover, you make them feel invested in your success. It’s a win-win situation – they get to feel good about supporting a company that shares their values, and you get loyal customers who are more likely to spread the word about your business.
People not Person
We have all heard the popular business saying, “There is no ‘I’ in ‘team.'” This phrase is used to emphasize the importance of working together cooperatively to achieve a common goal. While this is undoubtedly important, it is also crucial to remember that we are all individuals with unique skills and perspectives, and sales enablement has to take that into account. Each member must be allowed to contribute for a team to be truly successful.
Coach Doc Rivers has blessed us with many quotable moments throughout his long career coaching in the NBA. His famous saying: “Ubuntu is a way of life,” roughly translates as “I am because we are.”
Ubuntu is about recognizing the humanity in others and working together for the greater good. It is about creating a community where everyone feels valued and supported. As business leaders, we must bolster an environment where Ubuntu can thrive. Only then can our teams reach their full potential.
One way to achieve this agility is through the use of cross-functional teams. These teams are composed of members from different departments who come together to work on a specific project. By bringing together individuals with varying areas of expertise, cross-functional teams are able to develop innovative solutions to problems quickly.
These teams empower each other by sharing knowledge and ideas. As a result, they can better make informed decisions and take actions that will achieve the desired results. Thus, it is clear that cross-functional teams are a vital component of any organization seeking to remain agile in the ever-changing business world.
Every business wants to be successful, but achieving that goal is not always easy. Many factors go into making a business successful, and it can be tough to know where to start. That’s where Centrae comes in.
Centrae’s platform and proven process can help any business identify its strengths and weaknesses. With the Centrae Assessment, the entire team can easily evaluate its performance, and get objective data-driven recommendations on where to focus its efforts. Because Centrae solutions are designed to enable businesses of all sizes to GTM faster, you can be confident that you’re taking the proper steps to success.
Centrae’s solutions are designed to enable businesses of all sizes to go-to-market faster with speed and a 360-degree strategy. Click here to assess your business health, or request a FREE comprehensive assessment here.