6 Essential Go-To-Market Strategy Components for Business Development Success

by | Jan 13, 2016 | Sales Strategy, Sales Tips, Territory Management

We look for efficiency and effectiveness in all we do: our morning routine, our route to work, even our trips to the grocery store. We stick with these drilled-down processes because they deliver us the results we need, in the shortest amount of time. They’re predictable – time and again they come through just as we expected and desired.

Your business development needs such a predictable process: a go-to-market (GTM) strategy that will yield quick, quality results time and again. This action plan is a start-to-finish process for getting your product or service to market in an impactful way. A successful GTM plan employs these essential components:

1. Define your markets

A tight market definition is the foundation of your plan. Be specific about the prospects you want to target. Consider verticals, company size, and any other factors that define your ideal buyer. Identify your customers by company and title, focusing in on decision makers. Use this information to create prospect profiles, pinpointing the specific needs, buying habits, and other qualifying information for each.

2. Determine value proposition

Building on your prospect profiles, it’s time to clarify the message. The right strategy can move your product or service from a “nice to have” to a “need to have.” Map your best features/services to prospect needs and evaluate how well you hit that goal. Pay attention – each prospect profile will likely end up with a slightly different result.

3. Identify goals and timeline

Focus on three to five actionable items at a time. Ensure your goals are S.M.A.R.T. (specific, measurable, attainable, realistic, and time bounded). Create a timeline for these goals, including specific times to reassess and adjust.

4. Hone your sales process

Establish a strategy for tackling territory, allowing yourself to attack direct and indirect channels. Pipeline management is key – specialization can really boost your performance here. Up front training and continual sales team coaching and mentoring guarantee success.

5. Execute effective marketing

Consider the various distribution channels: SEO, paid search, email, content-driven organic search, social media, and even traditional paid advertising. Determine the best channels and messaging for each of your prospect profiles.  Messaging is connected to value proposition, and should be distributed in correlation with the sales cycle.

6. Employ data

Effective campaigns rely on gathering and analyzing data. Use a CRM system to inform and adjust your pipeline, converting prospects to customers faster. Marketing automation not only structures conversations and creates pathways for prospect profiles, it also evaluates effectiveness.

It’s obvious these elements must work together. Effective messaging relies on feedback from sales meetings, and good sales interactions rely on prospect response data from a marketing automation tool.

NuGrowth knows the value of these connections, and we embed them in our established Sales as a Service model. Our highly trained sales reps work closely with our marketing team, each utilizing data-driven, high-impact tactics to increase your company’s bottom line. Grow your business today – contact us at 800-966-3051 or fill out a short contact form to get connected.

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Author: Sarah Deak

Sarah is a copywriter for NuGrowth Digital clients. She likes to look for the unexpected angle, and uses her background in nonprofit development and marketing to create interesting and informative pieces that drive prospect engagement.