In today's fast-paced business world, having a solid Go-To-Market (G2M) strategy is crucial for the success of any business. Having recently conversed with various individuals on the topic, I have realized its critical importance and the fact that companies don’t understand.
Over the years, I have created and developed G2M strategies, which were not referred to as such when I first started my business career. However, the concept has always been a constant in supporting a business's success.
One critical aspect of G2M strategy remains the same is the importance of conducting and working through the early-stage strategic marketing work. It is the foundation of every sales, marketing, product, and operational strategy.
Understanding the market dynamics and conducting educational outreach is crucial. It is also essential to set the tempo for marketing engagement and determine the timing and duration of the strategy.
Duration is a crucial consideration that many businesses underestimate. Pay
attention to the time it takes to create brand and technology acceptance before implementing a "hard" sales engagement strategy. It is like making bread, where the dough needs to be proofed before it can be baked.
Many technology businesses, particularly in construction technology, implement a G2M strategy that hits the market with a hard sales strategy from day one, wondering why the sales team isn't closing business. They need to pay more attention to the time it takes for customers and the market to become aware and comfortable with a new technology or solution before being ready for a full-blown sales pitch.
If a market needs priming, then it needs priming, and businesses will know when customers and the market are ready to move into sales mode because they will tell you. Only then can businesses start turning up the sales engagement's heat and intensity. Doing it too early and with a heavy hand can do more harm than good to a brand and dent its business potential, limiting the success of the business.
Ignoring the first 19 chapters of the 20-chapter sales and marketing manual is one of the biggest and highly regrettable strategies for failure. It is also one of the reasons for business failures among technology startups, which is high at 90%.
Understanding the customer and marketing engagement strategy for G2M is essential to get it right. Sometimes, businesses only get one shot at it, so let's ensure we do it right from the beginning.
In conclusion, having a solid G2M strategy is crucial for the success of any business. Conducting early-stage strategic marketing work, understanding market dynamics, and timing and duration are important considerations. Businesses should avoid implementing a hard sales engagement strategy too early, as it can harm their brand and limit their success. Understanding the customer and marketing engagement strategy is also crucial for getting it right.
Comments