Data-driven GTM strategy: Start optimising your revenue engine
April 26, 2024
With your data model in place, your processes designed to align with your customer journey, and the right tech stack in place, you are now ready to start collecting and analysing data to optimise more than just your Go-to-Market strategy. Following this guide will help you get insights into marketing and sales activities, evaluate the performance of your processes, refine your approach to engagement and retention, and much more.
Most importantly, this approach sets the foundation for a scalable revenue engine that can easily adjust to shifts in your business objectives and priorities and grow as your business grows.
Now it’s time to optimise.
Your optimisation action plan
From now on you can work to improve every area of your revenue organisation. While there are several options on where to start, prioritising specific actions can ensure you are focusing on the most value-yielding areas and capturing the greatest opportunities for growth and efficiency.
These areas can vary from business to business, and we are not fond of one-size-fits-all solutions. However, there are four practices which we strongly recommend.
Segment your customers and define your ICPs
Use data to segment your customers into groups, and identify what your ideal customer profile looks like and what deals are best to pursue. Doing so will allow for more targeted and effective strategies and tailored activities that can significantly increase conversion rates and customer loyalty.
Identify friction points
Locate at which stages of the journey your leads drop off the most and work to understand why. Identifying the factors that add friction to your processes and slow them down is key to improving your sales performance and enhancing your customer experience.
For example, a common friction point might be found during the demo or trial phase, where potential clients might experience difficulty in understanding the full capabilities of your product due to technical complexities or lack of proper guidance.
Another example could be during the proposal stage, where delays in proposal generation might lead to a loss of interest or confidence from potential clients. Similarly, a lengthy and complicated onboarding process post-purchase can significantly impact customer satisfaction and retention.
Apply automation
As we discussed before, your tech stack should support your processes. That also means automating parts of it to speed it up, remove administrative work, and enable your people to focus on what really matters. While you can’t and it’s not advised to automate everything from the get-go, you should locate areas in your process where it makes sense to apply automation.
Establish a feedback loop
Listen to your people, especially those in the frontline of your operations. While most businesses know they have to collect and utilise feedback from their customers, many of them commonly forget to listen to their most valuable resource. Listening to the insights of your sales and customer success people can provide invaluable perspectives on customer needs, pain points, and the effectiveness of your processes and tools.
Don’t blindly follow every suggestion though. Aggregate them all together and synergise with the executive team’s strategic understanding to prioritise improvements and strategise action plans.
Conclusion
Embarking on the journey to a data-driven Go-to-Market (GTM) strategy is a comprehensive process that transforms the very core of your organisation. It’s a challenging, yet rewarding, journey, that demands a shift from intuition-based decisions to a methodical, data-centric approach.
This guide aims to provide you with the blueprint for embarking on that journey with all the necessary knowledge. To make the most out of it, do not see it as a set of tasks. See it as a strategic approach to deeply understanding your customers and how to best help them.
Remember, the ultimate goal is not just to improve sales figures or marketing metrics in the short term. It is to build a sustainable, growth-oriented business that can adapt and thrive in the face of changing market dynamics and customer needs.
We wanted to provide you with a holistic approach to how to achieve that.
With your data model in place, your processes designed to align with your customer journey, and the right tech stack in place, you are now ready to start collecting and analysing data to optimise more than just your Go-to-Market strategy. Following this guide will help you get insights into marketing and sales activities, evaluate the performance of your processes, refine your approach to engagement and retention, and much more.
Most importantly, this approach sets the foundation for a scalable revenue engine that can easily adjust to shifts in your business objectives and priorities and grow as your business grows.
Now it’s time to optimise.
Your optimisation action plan
From now on you can work to improve every area of your revenue organisation. While there are several options on where to start, prioritising specific actions can ensure you are focusing on the most value-yielding areas and capturing the greatest opportunities for growth and efficiency.
These areas can vary from business to business, and we are not fond of one-size-fits-all solutions. However, there are four practices which we strongly recommend.
Segment your customers and define your ICPs
Use data to segment your customers into groups, and identify what your ideal customer profile looks like and what deals are best to pursue. Doing so will allow for more targeted and effective strategies and tailored activities that can significantly increase conversion rates and customer loyalty.
Identify friction points
Locate at which stages of the journey your leads drop off the most and work to understand why. Identifying the factors that add friction to your processes and slow them down is key to improving your sales performance and enhancing your customer experience.
For example, a common friction point might be found during the demo or trial phase, where potential clients might experience difficulty in understanding the full capabilities of your product due to technical complexities or lack of proper guidance.
Another example could be during the proposal stage, where delays in proposal generation might lead to a loss of interest or confidence from potential clients. Similarly, a lengthy and complicated onboarding process post-purchase can significantly impact customer satisfaction and retention.
Apply automation
As we discussed before, your tech stack should support your processes. That also means automating parts of it to speed it up, remove administrative work, and enable your people to focus on what really matters. While you can’t and it’s not advised to automate everything from the get-go, you should locate areas in your process where it makes sense to apply automation.
Establish a feedback loop
Listen to your people, especially those in the frontline of your operations. While most businesses know they have to collect and utilise feedback from their customers, many of them commonly forget to listen to their most valuable resource. Listening to the insights of your sales and customer success people can provide invaluable perspectives on customer needs, pain points, and the effectiveness of your processes and tools.
Don’t blindly follow every suggestion though. Aggregate them all together and synergise with the executive team’s strategic understanding to prioritise improvements and strategise action plans.
Conclusion
Embarking on the journey to a data-driven Go-to-Market (GTM) strategy is a comprehensive process that transforms the very core of your organisation. It’s a challenging, yet rewarding, journey, that demands a shift from intuition-based decisions to a methodical, data-centric approach.
This guide aims to provide you with the blueprint for embarking on that journey with all the necessary knowledge. To make the most out of it, do not see it as a set of tasks. See it as a strategic approach to deeply understanding your customers and how to best help them.
Remember, the ultimate goal is not just to improve sales figures or marketing metrics in the short term. It is to build a sustainable, growth-oriented business that can adapt and thrive in the face of changing market dynamics and customer needs.
We wanted to provide you with a holistic approach to how to achieve that.
With your data model in place, your processes designed to align with your customer journey, and the right tech stack in place, you are now ready to start collecting and analysing data to optimise more than just your Go-to-Market strategy. Following this guide will help you get insights into marketing and sales activities, evaluate the performance of your processes, refine your approach to engagement and retention, and much more.
Most importantly, this approach sets the foundation for a scalable revenue engine that can easily adjust to shifts in your business objectives and priorities and grow as your business grows.
Now it’s time to optimise.
Your optimisation action plan
From now on you can work to improve every area of your revenue organisation. While there are several options on where to start, prioritising specific actions can ensure you are focusing on the most value-yielding areas and capturing the greatest opportunities for growth and efficiency.
These areas can vary from business to business, and we are not fond of one-size-fits-all solutions. However, there are four practices which we strongly recommend.
Segment your customers and define your ICPs
Use data to segment your customers into groups, and identify what your ideal customer profile looks like and what deals are best to pursue. Doing so will allow for more targeted and effective strategies and tailored activities that can significantly increase conversion rates and customer loyalty.
Identify friction points
Locate at which stages of the journey your leads drop off the most and work to understand why. Identifying the factors that add friction to your processes and slow them down is key to improving your sales performance and enhancing your customer experience.
For example, a common friction point might be found during the demo or trial phase, where potential clients might experience difficulty in understanding the full capabilities of your product due to technical complexities or lack of proper guidance.
Another example could be during the proposal stage, where delays in proposal generation might lead to a loss of interest or confidence from potential clients. Similarly, a lengthy and complicated onboarding process post-purchase can significantly impact customer satisfaction and retention.
Apply automation
As we discussed before, your tech stack should support your processes. That also means automating parts of it to speed it up, remove administrative work, and enable your people to focus on what really matters. While you can’t and it’s not advised to automate everything from the get-go, you should locate areas in your process where it makes sense to apply automation.
Establish a feedback loop
Listen to your people, especially those in the frontline of your operations. While most businesses know they have to collect and utilise feedback from their customers, many of them commonly forget to listen to their most valuable resource. Listening to the insights of your sales and customer success people can provide invaluable perspectives on customer needs, pain points, and the effectiveness of your processes and tools.
Don’t blindly follow every suggestion though. Aggregate them all together and synergise with the executive team’s strategic understanding to prioritise improvements and strategise action plans.
Conclusion
Embarking on the journey to a data-driven Go-to-Market (GTM) strategy is a comprehensive process that transforms the very core of your organisation. It’s a challenging, yet rewarding, journey, that demands a shift from intuition-based decisions to a methodical, data-centric approach.
This guide aims to provide you with the blueprint for embarking on that journey with all the necessary knowledge. To make the most out of it, do not see it as a set of tasks. See it as a strategic approach to deeply understanding your customers and how to best help them.
Remember, the ultimate goal is not just to improve sales figures or marketing metrics in the short term. It is to build a sustainable, growth-oriented business that can adapt and thrive in the face of changing market dynamics and customer needs.
We wanted to provide you with a holistic approach to how to achieve that.
