Build a More Effective Go-to-Market Strategy

Maximize GTM success through deeper market and buyer understanding and competitive differentiation and launch team readiness that delivers target revenues.

Table of Contents

Executive Brief

Analyst Perspective

Go-to-Market Strategy.

A successful go-to-market (GTM) strategy aligns marketing, product, sales and customer success, sees decision making based on deep buyer understanding, and tests many basic assumptions often overlooked in today’s agile-driven product development/management environment.

The disciplines you build using our methodology will not only support your team’s effort building and launching more successful products, but also can be modified for use in other strategic initiatives such as branding, M&A integration, expanding into new markets, and other initiatives that require a cross-functional and multidisciplined process.

Jeff Golterman Managing Director SoftwareReviews Advisory

Executive Summary

SoftwareReviews Insight

Creating a compelling go-to-market strategy, and keeping it current, is a critical software company function – as important as financial strategy, sales operations, and even corporate business development – given its huge impact on the many drivers of sustainable growth.

Go-to-Market Strategy Critical Success Factors

Your GTM Strategy is where a multi-disciplined team builds a strong foundation for overall product plan, build, launch, and manage success

A GTM Strategy is not all art and not all science but requires both. Software leaders will establish a set of core capabilities upon which they will plan, build, launch and manage product success. Executives, when resourcing their GTM strategies, will begin with: Strong Program Leadership – An experienced Program Manager will guide the team through each step of GTM Strategy and test team readiness before advancing to the next step. Few Shortcuts – Successful teams will have navigated the process through all steps together at least once. Then future launches can skip steps where prior decisions still hold. Stakeholder Buy-In – Strong collaboration among Sales, Marketing, and Product wins the day. Strong Team Skills – Success depends on having the right talent, making the right decisions, and delivering the right outcomes enabled with the right set of technologies and integrated to reach the right buyers at the right moment. Discipline and perseverance – Given that GTM Strategy is not easy, it’s not surprising that 75% of marketers cite a significant level of dissatisfaction with the outcomes of their GTM plan, build, and launch phases.

SoftwareReviews Advisory Insight:
Marketers who get GTM Strategy “right” give themselves a 50% greater chance of Build and Launch success.

Go-to-Market Success is Challenging

Getting GTM right is like winning an Olympic first-place crew finish. It takes teamwork, practice, and well-functioning tools and equipment.

• The goal of any Go-to-Marketing Strategy is not only to do it right once, but to do it over and over consistently.
• A lack of GTM consistency often results in decelerating growth, and a weak GTM Strategy is likely the root cause when companies observe any of the following challenges:
  • Product opportunity is unclear and well-defined business cases are lacking
  • Buyer adoption slows of new features and launch revenue targets are missed
  • Sales and marketing are not ready when development releases new features
  • Sales win/loss ratios drop as customers tell us products are not competitively differentiated
  • Loss of executive support for new product investments
• A company experiencing any one of these symptoms will find a remedy in plugging gaps in the way they Go-to-Market.

“Figuring out a Go-to-Market approach is no trivial exercise – it separates the companies that will be successful and sustainable from those that won’t.” (Harvard Business Review)

Slowing growth may be due to missing GTM Strategy essentials

Marketers – Large and Small – will further test their GTM Strategy strength by asking “Are we missing any of the following?”

• Product, Marketing, and Sales Alignment
• Buyer personas and journeys
• Product market opportunity size
• Competitively differentiated product hypothesis
• Buyer validated commercial concept
• Sales revenue plan and program cost budget
• Compelling business case for build and launch

SoftwareReviews Advisory Insight:

Marketers will go through the GTM Strategy process together across all disciplines at least once in order to establish a consistent process, make key foundational decisions (e.g. tech stack, channel strategy, pricing structure, etc.), and assess strengths and weaknesses to be addressed. Future releases to existing products don’t need to be re-thought but instead check-listed against prior foundational decisions.

Is Your GTM Strategy Led and Staffed Properly?

Benefits of a more effective go-to-market strategy

Is your GTM Strategy optimized?

Marketers, in order to optimize a go-to-market strategy, will:

1. Self assess for symptoms of a sub-optimized approach.
2. Align marketing, sales, product, and customer success with a common vision and execution plan.
3. Diagnose for missing steps.
4. Ensure creation of key deliverables.
5. And then be able to reap the rewards.

Who benefits from an optimized go-to-market strategy?

SoftwareReviews’ Approach

1	Build baseline market, buyer, and competitive insights Sizing your opportunity, building deep buyer understanding, competitive differentiation, and routes to market are fundamental first steps.
2	Design initial product and business case Validate positioning and messaging against brand, develop packaging and pricing, and develop digital approach, launch campaign approach and supporting budgets across all areas.
3	Align stakeholder plans to prep for build Rationalize product release and concept to sales/financial plan and further develop customer success, PR/AR, MarTech, and analytics/metrics plans.

Our methodology provides a step-by-step approach to build a more effective go-to-market strategy

Insight summary

Your go-to-market strategy ability is a strategic asset

Having an updated and compelling go-to-market strategy is a critical capability – as important as financial strategy, sales operations, and even corporate business development – given its huge impact on the many drivers of sustainable growth.

Build the GTM Steering Committee into a strategic decision-making body

Many marketers experiencing the value of the GTM Steering Committee extend its use into a “Product and Pricing Council” (PPC) in order to move product-related decision making from ad-hoc to structured, and to reinforce GTM Strategy guardrails and best practices across the company.

A strong MarTech apps and analytics stack differentiates GTM leaders from laggards

Marketers that collaborate closely with Marketing Ops., Sales Ops., and IT early in the process of a go-to-market strategy will be best able to assess whether current website/digital, marketing applications, CRM/sales automation apps, and tools can support the complete Go-to-Market process effectively.

Establishing alignment through the GTM process builds long term operational strength

Marketers will go through the GTM Strategy process together across all disciplines at least once in order to establish a consistent process, make key foundational decisions (e.g. tech stack, channel strategy, pricing structure, etc.), and assess strengths and weaknesses to be addressed.

Build speed and agility

Future releases to existing products don’t need be re-thought but instead check-listed against prior foundational decisions.

GTM Strategy builds launch success

Marketers who get GTM Strategy “right” give themselves a 50% greater chance of build and launch success.

Blueprint deliverables

Each step of this blueprint is accompanied by supporting deliverables to help you accomplish your goals:

Key deliverable: Go-to-Market Strategy Presentation Template Capture key findings for your GTM Strategy within the Go-to-Market Strategy Presentation Template.	Go-to-Market Strategy RACI and Launch Checklist Workbook Includes a RACI model and launch checklist that helps scope your working team’s roles and responsibilities.		Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook Capture launch incremental costs that, when weighed against the forecasted revenue, illustrate gross margins as a crucial part of the business case.
	Product Market Opportunity Sizing While not a deliverable of this blueprint per se, the Product Market Opportunity blueprint is required.		This blueprint calls for downloading the following additional blueprint:
			Buyer Persona and Journey blueprint While not a deliverable of this blueprint per se, the Buyer Persona and Journey blueprint is required

Info-Tech offers various levels of support to best suit your needs

Guided Implementation

A Guided Implementation (GI) is a series of calls with a SoftwareReviews Advisory analyst to help implement our best practices in your organization.

For guidance on marketing applications, we can arrange a discussion with an Info-Tech analyst.

Your engagement managers will work with you to schedule analyst calls.

What does our GI on Build a More Effective Go-to-Market Strategy look like?

Build a More Effective Go-to-Market Strategy

Phase 1

Build baseline market, buyer, and competitive insights

This phase will walk you through the following activities:

• Steering Committee and Team formulation
• A vision for go-to-market strategy
• Initial product hypothesis
• Market Opportunity sizing
• Tech stack/digital requirements
• Buyer persona and journey
• Competitive gaps, parity, differentiators
• Routes to market
• GTM Strategy deck

This phase involves the following stakeholders:

• Steering Committee
• Working group leaders

To complete this phase, you will need:

Go-to-Market Strategy Presentation Template	Go-to-Market Strategy RACI and Launch Checklist Workbook	Buyer Persona and Journey blueprint	Product Market Opportunity Sizing Workbook
Use the Go-to-Market Strategy Presentation Template to document the results from the following activities: Documenting your GTM Strategy stakeholders Documenting your GTM Strategy working team	Use the Go-to-Market Strategy RACI and Launch Checklist Workbook to: Review the scope of roles and responsibilities required Document the roles and responsibilities of your teams	Use the Buyer Persona and Journey blueprint to: Interview sales and customers/prospects to inform product concepts, understand persona and later, flush out buyer journey	Use the Product Market Opportunity Sizing blueprint to: Project Serviceable Obtainable Market (SOM), Serviceable Available Market (SAM), and Total Available Market (TAM) from your current penetrated market

Step 1.1

Identify a GTM Program Steering Committee and Team. Build an Aligned Vision for Your Go-to-Market Strategy Approach

Activities

• 1.1.1 Identify the Steering Committee of key stakeholders whose support will be critical to success
• 1.1.2 Select your go-to-market strategy program team
• 1.1.3 Discuss an overview of the GTM process and program roles and responsibilities with stakeholders and GTM workstream leads
• 1.1.4 Develop a Go-to-Market launch, tiering, time-line, and overall program plan
• 1.1.5 Work with each workstream lead on their overall project plan and incremental budget requirements

This step will walk you through the following activities:

• Identify stakeholders – your Steering Committee
• Identify team members
• Present a vision of GTM Strategy

This step involves the following participants:

• Steering Committee
• Program workstream leads

Outcomes of this step

• Steering Committee identified
• Team members identified
• All aligned on the GTM process
• Go-to-market strategy timeline and program plan

1.1.1 Identify stakeholders critical to success

Input: Steering Committee interviews, Recognition of Steering Committee interest

Output: List of GTM Strategy stakeholders as Steering Committee members

Materials: Following slide outlining the key responsibilities required of the Steering Committee members, A high-Level timeline of GTM Strategy phases and key milestone meetings

Participants: CMO, sponsoring executive, Functional leads - Marketing, Product Marketing, Product Management, Sales, Customer Success

1. The GTM Strategy initiative manager should meet with the CMO to determine who will comprise the Steering Committee for your GTM Strategy.
2. Finalize selection of steering committee members.
3. Meet with members to outline their roles and responsibilities and ensure their willingness to participate.
4. Document the steering committee members and the milestone/presentation expectations for reporting project progress and results.

SoftwareReviews Advisory Insight:
Go To Market Steering Committee’s can become an important ongoing body to steer overall product, pricing and other GTM decisions. Some companies have done so by adding the CEO and CFO to this committee and designated it as a permanent body that meets monthly to give go/no decisions to “all things product related” across all products and business units. Leaders that use this tool well, stay aligned, demonstrate consistency across business units and leverage outcomes across business units to drive greater scale.

Go-to-Market Strategy Stakeholders

Understand that aligning key stakeholders around the way your company goes to market is an essential company function.

Download the Go-to-Market Strategy Presentation Template

Roles vary by company size. Launch success depends on clear responsibilities

Download the Go-to-Market Strategy RACI and Launch Checklist Workbook

Success improves when you align & assign Go-to-Market, build, and launch success improves when: Phases and steps are outlined Key activities are documented Roles/functions are described At the intersection of activities and role, whether the role is “Responsible,” “Accountable,” “Consulted,” or “Informed” is established across the team Leaders will hold a workshop to establish RACI that fits with the scope and scale of your organization. Confusion, conflict, and friction can be dramatically reduced/eliminated with RACI adoption and practice. Review the RACI model and launch checklist within the Go-to-Market Strategy RACI and Launch Checklist Workbook in order to identify the full scope of roles and responsibilities needed.

Go-to-Market Strategy Working Team

Consider the skills and knowledge required for GTM Strategy as well as build and launch functions when choosing teams.

Work with functional leaders to select workstream leads

Workstream leads should be strong in collaboration, coordination of effort among others, knowledgeable about their respective function, and highly organized as they may be managing a team of colleagues within their function to deliver their responsible portion of GTM.

Required Skills/Knowledge Target Buyer Product Roadmap Brand Competitors Campaigns/Lead Gen Sales Enablement Media/Analysts Customer satisfaction	Suggested Functions Product Marketing Product Management Creative Director Competitive Intelligence Demand Gen./Field Marketing Sales Ops/Training/Enablement PR/AR/Corporate Comms. Customer Success
Roles Required in Successful GTM Strategy
For SMB companies, as employees wear many different hats, assign people that have the requisite skills and knowledge vs. the role title.

Download the Go-to-Market Strategy RACI and Launch Checklist Workbook

1.1.2 Select the GTM Strategy working team

Input: Stakeholders and leaders across the various functions outlined to the left

Output: List of go-to-market strategy team members

Materials: Go-to-Market Strategy Workbook

Participants: Initiative Manager, CMO, Sponsoring executive, Departmental Leads – Sales, Marketing, Product Marketing, Product Management (and others), Marketing Applications Director, Senior Digital Business Analyst

1. The GTM Strategy Initiative Manager should meet with the GTM Strategy Sponsor and functional leaders of workstream areas/functions to determine which team members will serve as Steering Committee members and who will serve as workstream leads.
2. The working team for your go-to-market strategy should have the following roles represented in the working team:
   • Depending on the initiative and the size of the organization, the team will vary.
   • Key business leaders in key areas – Product Marketing, Field Marketing, Digital Marketing, Inside Sales, Sales, Marketing Ops., Product Management, and IT – should be involved.
3. Document the members of your go-to-market strategy team in the Go-to-Market Strategy Presentation slide entitled “Our Team.”

Download the Go-To-Market Strategy RACI and Launch Checklist Workbook

1.1.3 Develop a timeline for key milestones

1 hour

GTM Program Managers:

1. Will establish key program milestones working collaboratively with the Steering Cmte. and workstream leads.
2. Outline key ”Market-facing” or external deliverables & dates, as well as internal.
3. More detailed deliverable plans are called for working with workstream leads.
4. This high-level overview will be used in regular Steering Cmte. and working team meets
5. Record in the Go-to-Market Strategy Presentation

Download the Go-to-Market Strategy Presentation Template

1.1.5 Share your GTM strategy vision with your team

Input: N/A

Output: Team understanding of an effective go-to-market strategy, team roles and responsibilities and initial product and launch concept.

Materials: The Build a More Effective Go-to-Market Strategy Executive Brief

Participants: GTM Program Manager, CMO, Sponsoring executive, Workstream leads

1. Download the Build a More Effective Go-to-Market Strategy Executive Brief and add the additional slides on Team Composition and Key Milestones you have created in prior steps as appropriate.
2. Convene the Steering Committee and Working Team and take them through the Build a More Effective Go-to-Market Strategy Executive Brief with your additional slides to:
   1. Communicate team composition, roles and responsibilities, and key GTM Strategy program milestones.
   2. Educate them on what comprises a complete GTM Strategy from the Executive Brief.
3. Optional: As a SoftwareReviews Advisory client, invite a SoftwareReviews analyst to present the Executive Brief if that is of help to you and your team.

Go to the Build a More Effective Go-to-Market Strategy Executive Brief

GTM program managers and workstream leads will collaborate on detailed project plans

Program managers will:

• Outline an overall more detailed way of tracking GTM program workstreams, key dates and on/off track status

Program managers & workstream leads will:

• Call out each key workstream and workstream lead
• Outline key deliverables and due dates
• Track weekly for communicating status to Steering Cmte and working team meetings

Use the Launch Checklist when building out full project plans

Download the Go-to-Market Strategy RACI and Launch Checklist Workbook

Continuous improvement is enabled with a repeatable process With ownership assigned and set-back schedules in place, product marketing and management leaders can take the guesswork out of the GTM plan and build and launch process for the entire team. “Lighter” versions are created for lower-tier releases. Checklists ensure “we haven’t missed anything” and drive clarity among the team. Articulating where we are now and what’s next increases management confidence. Rinse and repeat improves overall quality and drives scale.

1.1.6 Develop a project plan for each workstream

Download the Go-to-Market Strategy Presentation Template

Download the Go-To-Market Strategy RACI and Launch Checklist Workbook

Step 1.2

Hold Interviews With Sales Then Customers and Prospects to Inform Your Initial Product Concept

Activities

• 1.2.1 Use the SoftwareReviews Buyer Persona and Journey Interview Guide and Data Capture Tool found within the SoftwareReviews Buyer Persona and Journey blueprint.
• 1.2.2 Follow the instructions within the above blueprint and hold interviews with Sales and customers and prospects to inform your buyer persona, initial product hypothesis, and buyer journey.
• 1.2.3 Flush out the initial product and launch concept using the slides found within the Go-to-Market Strategy Presentation Template. You will continually refine the Go-to-Market Strategy Presentation Template such that you turn the Product and Launch descriptions into a business case for product build and launch. We advise you and your team to populate the slides to begin to inform an initial concept, then hold interviews with Sales, customers, and prospects to refine. The best way to capture customer and prospect insights is to use the Buyer Persona and Journey blueprint.

This step will walk you through the following activities:

• Schedule time with sales/sales advisory to flush out the product concept
• Develop your customer and prospect interviewee list
• Consolidate findings for your GTM Strategy program slide deck

This step involves the following participants:

• Sales/sales advisory, product management, initiative leader (product marketing)
• Customers and prospects

Outcomes of this step

• Guidance from sales on product concept
• Initial guidance from customers and prospective buyers
• Agreement to proceed further

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

Documenting buyer personas enables success beyond marketing

Buyer persona attributes that need defining

A well defined buyer persona enables us to:

• Clarify target org-types, identify buying decision makers and key personas, and determine how they make decisions
• Align colleagues around a common definition of target buyer(s) to drive improvements in messaging and engagement across marketing, sales, and customer success
• Identify specific asset-types and tools that, when activated within our lead gen engine and in the hands of sellers, helps a buyer move through a decision process

Buyer journeys are constantly shifting

Challenges of not mapping persona and journey

1.2.1 Interview Sales and customers/prospects

12 - 15 Hours, over course of 2-3 weeks

Input: Insights from Sellers, Insights from customers and prospects

Output: Completed slides outlining buyer persona, buyer journey, overall product concept, and detailed features and capabilities needed

Materials: Create a Buyer Persona and Journey blueprint, Go-to-Market Strategy Presentation

Participants: Product management lead, GTM Program Manager, Select sellers, Workstream leads that wish to participate in interviews

1. Using the Create a Buyer Journey and Persona Journey blueprint:
   • Follow the instructions to interview a group of Sellers, and most importantly, several customers and prospects
     • For this stage in the GTM Strategy process, the goal is to validate your initial product and launch concept.
     • We urge getting through all the interview questions with interviewees as the answers inform:
       • Product market fit and Minimal Viable Product
       • Competitive differentiation
       • Messaging, positioning, and campaign targeting
       • Launch campaign asset creation.
   • Place summary findings into the Go-to-Market Strategy Presentation, and for reference, place the Buyer Persona and Journey Summaries into the Go-to-Market Strategy Presentation Appendix.

Download the Go-to-Market Strategy Presentation Template

Download the Create a Buyer Journey and Persona Journey blueprint

Step 1.3

Update Your Product Concept

Activities

• 1.3.1 Based on Sales and Customer/Prospect interviews, update:
  • Your product concept slide
  • Detailed prioritization of features and capabilities

This step calls for the following activities:

• Update the product concept slide based on interview findings
• Update/create the stack-ranking of buyer requested feature and capability priorities

This step involves the following participants:

• Product management lead
• GTM initiative leader
• Select workstream leads who sat in on interview findings

Outcomes of this step

• Advanced product concept
• Prioritized features for development during Build phase
• Understanding of MVP to deliver customer value and deal “wins”

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

1.3.1 Update Product and Launch concept

2 Hours

Input: Insights from Sellers, Insights from customers and prospects

Output: Completed slides outlining product concept and detailed features and capabilities needed

Materials: Go-to-Market Strategy Presentation

Participants: Product management lead, GTM Program Manager, Select sellers, Workstream leads that wish to participate in interviews

1. Using the Go-to-Market Strategy Presentation:
   • With interview findings, update the Product and Launch Concept, Buyer Journey, and Capture Key Features/Capabilities of High Importance to Buyers slides

Download the Go-to-Market Strategy Presentation Template

Product and Launch Concept

At this early stage, summarize findings from concept interviews to guide further discovery, as well as go-to-market concepts and initial campaign concepts in upcoming steps.

Update the Go-to-Market Strategy Presentation with findings from Sales and customer/prospect interviews.

Capture key features/capabilities of high importance to buyers

Ask buyers during interviews, as outlined in the Buyer Persona and Journey blueprint, to describe and rate key features by need. You will also review with buyers during the GTM Build phase, so it’s important to establish high priority features now.

List key feature areas for buyer importance rating. Establish a rating scheme. E.g. a rating of: 4.5 or higher = critical ROI driver 3.5 to 4.5 = must haves 2 to 3.5 = nice to have Less than 2 = low importance Have buyers rate each possible feature 0-5 after explaining the rating scheme. Ask – are we missing any key features? Update this slide, found within the Go-to-Market Strategy Presentation, with customer/prospect interview findings.

• Ease of use, security, availability of training, service model, etc. – and other “non-feature” areas that you need for your product hypothesis.

Step 1.4

Size the Product Market Opportunity

Activities

• 1.3.1 Based on the product concept, size, and the product market opportunity and with a focus on your “Obtainable Market”:
  • Clarify the definitions used to size market opportunity.
  • Source data both internally and externally.
  • Calculate the available, obtainable market for your software product.

This step will walk you through the following activities:

• Review market sizing definitions and identify required data
• Identify the target market for your software application
• Source market and internal data that will support your market sizing
• Document and validate with team members

This step involves the following participants:

• GTM initiative leader
• CMO, select workstream leads

Outcomes of this step

• Definitions on market sizing views
• Data sourcing established
• Market sizing and estimated penetration calculations

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

Market opportunity sizing definitions

Your goal is to assess whether or not the opportunity is significantly sized and if you are well positioned to capture it

1. This exercise is designed to help size the market opportunity for this particular product GTM launch and not the market opportunity for the entire product line or company. First a few market sizes to define:
   1. Penetrated – is your current revenues and can be expressed in your percentage vs. competitors’.
   2. Serviceable Obtainable Market (SOM) – larger than your currently penetrated market, and a percentage of SAM that can realistically be achieved. It accounts for your current limitations to reach and your ability to sell to buyers. It is restricted by your go-to-market ability and reduced by competitive market share. SOM answers: What increased market can we obtain by further penetrating accounts within current geographical coverage and go-to-market abilities and within our ability to finance our growth?
   3. Serviceable Available Market (SAM) – larger than SOM yet smaller than TAM, SAM accounts for current products and current go-to-market capabilities and answers: What if every potential buyer bought the products we have today and via the type of go-to-market (GTM) especially geographical coverage, we have today? SAM calls for applying our current GTM into unpenetrated portions of currently covered customer segments and regions.
   4. Total Available Market (TAM) – larger than SAM, TAM sizes a market assuming we could penetrate other customer segments within currently covered regions without regard for resources, capabilities, or competition. It answers the question: If every potential buyer within our available market – covered regions – bought, how big would the market be?
   5. Total Global Market – estimates market opportunity if all orgs in all segments and regions bought – with full disregard for resources and without the restrictions of our current GTM abilities.
   6. Develop your market opportunity sizing using the Product Market Opportunity Sizing Workbook.

Download the Product Market Opportunity Sizing Workbook

SoftwareReviews Advisory Insight:
Product marketers that size the product market opportunity and account for the limitations posed by competitors, current sales coverage, brand permission, and awareness, provide their organizations with valuable insights into which inhibitors to growth should be addressed.

1.4.1 Size the product market opportunity

Step 1.5

Outline Digital and Tech Requirements

Activities

Designing your go-to-market strategy does not require a robust customer experience management (CXM) platform, but implementing your strategy during the next steps of Go-to-Market – Build then Launch – certainly does.

Review info-Tech’s CXM blueprint to build a more complete, end-to-end customer interaction solution portfolio that encompasses CRM alongside other critical components.

The CXM blueprint also allows you to develop strategic requirements for CRM based on customer personas and external market analysis called for during your GTM Strategy design.

These steps outlined in the CXM blueprint, will help you:

• Assess your CRM application(s) and the environment in which they exist. Take a business-first strategy to prioritize optimization efforts.
• Validate CRM capabilities, user satisfaction, issues around data, vendor management, and costs to build out an optimization strategy
• Pull this all together to develop a prioritized optimization roadmap.

This step involves the following participants:

• Marketing Operations, Digital, IT
• Project workstream leads as appropriate

Outcomes of this step

• After inquiries with appropriate analysts, client will be able to assess what new application and technology support is required to support Go To Market process.

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

Step 1.6

Identify features and capabilities that will drive competitive differentiation

Activities

• 1.6.1 Hold a session with key stakeholders including sales, customer success, product, and product marketing to develop a hypothesis of features and capabilities vs. competitors: differentiators, parity areas, and gaps (DPG).
• Optional for clients with buyer reviews and key competitive reviews within target product category:
  • 1.6.2 Request from SoftwareReviews a 2X2 Matrix Report of Importance vs. Satisfaction for both features and capabilities within your product market/category to identify areas of competitive DPG.
  • 1.6.3 Hold an Inquiry with covering ITRG analysts in your product category to have them validate key areas of competitive DPG.
• 1.6.4 Document competitive DPG and build out your hypothesis for product build as you ready for customer interviews to validate that hypothesis.

This step will provide processes to help you:

• Understand and document competitive differentiation, parity, and gaps

This step involves the following participants:

• Project workstream leads in product marketing, competitive intelligence, product management, and customer success

Outcomes of this step

• Develop a clear understanding of what differentiated capabilities to promote, which parity items to mention in marketing, and which areas are competitive gaps
• Develop a hypothesis of what areas need to be developed during the Build phase of the Go-to-Market lifecycle

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

Assess current capabilities and competitive differentiation vs. buyer needs

Taking buyer needs ratings from step 1.3, assess your current and key competitive capabilities against buyer needs for both feature and non-feature capabilities. Incorporate into your initial product hypothesis.

• Rank features in order of buyer need from step 1.3.
• Prioritize development needs where current capabilities are rated low. Spot areas for competitive differentiation especially in high buyer-need areas.

• ease of use
• security
• availability of training
• service model

Optional: Validate feature and capability importance with buyer reviews

Request from your SoftwareReviews Engagement Manager the “Importance vs. Satisfaction” analysis for your product(s) feature and non-feature capabilities under consideration for your GTM Strategy

Overall Category Product Feature Satisfaction Importance

• Importance is based on how strongly satisfaction for a feature of a software suite correlates to the overall Likeliness to Recommend
• Importance is relative – low scores do not necessarily indicate the product is not important, just that it’s not as important as other features

(Optional for clients with buyer reviews and key competitive reviews within target product category.)

Optional: Feature importance vs. satisfaction

Example: ERP “Vendor A” ratings and recommended key actions. Incorporate this analysis into your product concept if updating an existing solution. Have versions of the below run for specific competitors.

Features in the “Fix” quadrant should be addressed in this GTM Strategy cycle.

Features in the “Review” quadrant are low in both buyer satisfaction and importance, so vendors are wise to hold on further investments and instead focus on “Fix.”

Features in the “Promote” quadrant are high in buyer importance and satisfaction, and should be called out in marketing and selling.

Features in the “Maintain” quadrant are high in buyer satisfaction, but lower in importance than other features – maintain investments here.

(Optional for clients with buyer reviews and key competitive reviews within target product category.)

Optional: Capabilities importance vs. satisfaction

Example: ERP “Vendor A” capabilities ratings and recommended key actions. Incorporate this analysis into your product concept for non-feature areas if updating an existing solution. Have versions of the below run for specific competitors.

Capabilities in the “Fix” quadrant should be addressed in this GTM Strategy cycle.

Capabilities in the “Review” quadrant are low in both buyer satisfaction and importance, so vendors are wise to hold on further investments and instead focus on “Fix.”

Capabilities in the “Promote” quadrant are high in buyer importance and satisfaction, and should be called out in marketing and selling.

Capabilities in the “Maintain” quadrant are high in buyer satisfaction, but lower in importance than other features – maintain investments here.

(Optional for clients with buyer reviews and key competitive reviews within target product category.)

Develop a competitively differentiated value proposition

Combining internal competitive knowledge with insights from buyer interviews and buyer reviews; establish which key features that will competitively differentiate your product when delivered

• Identify what buyers need that will differentiate your product features and company capabilities from key competitors.
• Determine which features and company capabilities, ideally lower in buyer importance, can achieve/maintain competitive parity.
• Determine which features and company capabilities, ideally much lower in buyer importance, that can exist in a state of competitive gap.

Step 1.7

Select the Most Effective Routes to Market

Activities

• 1.7.1 Understand a framework for deciding how to approach evaluating each available channel including freemium/ecommerce, inside sales, field sales, and channel partner.
• 1.7.2 Gather data that will inform option consideration.
• 1.7.3 Apply to decision framework and present to key stakeholders for a decision.

This step will provide processes to help you:

• Understand the areas to consider when choosing a sales channel
• Support your decision by making a specific channel recommendation

This step involves the following participants:

• Project workstream leads in Sales, Sales Operations, Product Marketing, and Customer Success

Outcomes of this step

• Clarity around channel choice for this specific go-to-market strategy cycle
• Pros and cons of choices with rationale for selected channel

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

Your “route-to-market” – channel strategy

Capture buyer channel preferences in Step 1.3, and research alternatives using the following framework

Inside vs. Field Sales – Selling software during COVID has taught us that you can successfully sell software using virtual conferencing tools, social media, the telephone, and even texting and webchat – so is the traditional model of field/territory-based sellers being replaced with inside/virtual sellers who can either work at home, or is there a benefit to being in the office with colleagues?

Solutions vs. Individual Products – Do your buyers prefer to buy a complete solution from a channel partner or a solutions integrator that puts all the pieces together, and can handle training and servicing, for a more complete buyer solution?

Channel Partner vs. Build Sales Force – Are there channel partners that, given your product is targeting a new buyer with whom you have no relationship, can leverage their existing relationships, quicken adoption of your products, and lower your cost of sales?

Fully Digital – Is your application one where users can get started for free then upgrade with more advanced features without the use of a field or inside sales person? Do you possess the e-commerce platform to support this?

While there are other considerations beyond the above to consider, decide which channel approach will work best for this GTM Strategy.

Channel Partnerships are Expanding

“One estimate is that for every dollar a firm spends on its SaaS platform, it spends four times that amount with systems integrators and other channel partners.

And as technologies are embedded inside other products, services, and solutions, effective selling requires more partners.

Salesforce, for example, is recruiting thousands of new partners, while Microsoft is reportedly adding over 7,000 partners each month.” (HBR, 2021)

Step 1.8

Craft an Initial GTM Strategy Presentation for Executive Review and Status Check

Activities

• 1.8.1 Finalize the set of slides within the Go-to-Market Strategy Presentation that best illustrates the many key findings and recommended decisions that have been made during the Explore phase of the GTM Strategy.
  • Test whether all key deliverables have been created, especially those that must be in place in order to support future phases and steps.
  • Schedule a Steering Committee meeting and present your findings with the goal to gain support to proceed to the Design phase of GTM Strategy.

This step will provide processes to help you:

• Work with your colleagues to consolidate the findings from Phase 1 of the GTM Strategy
• Create a slide deck with your colleagues for presentation to the Steering Committee to gain approvals to proceed to Phase 2

This step involves the following participants:

• Project workstream leads in Sales, Sales Operations, Product Marketing, and Customer Success
• Steering Committee

Outcomes of this step

• Slide deck to present to the Steering Committee
• Approvals to move to Phase 2 of the GTM Strategy

Phase 1 - Formulate a hypothesis and run discovery on key fundamentals

1.8.1 Build your GTM Strategy deck for Steering Committee approval

1. As you near completion of the Go-to-Market Strategy Phase, Explore Step, an important test to pass before proceeding to the Design step of GTM Strategy, is to answer several key questions:
   1. Have you properly sized the market opportunity for the focus of this GTM cycle?
   2. Have you defined a unique value proposition of what buyers are looking for?
   3. And have you aligned stakeholders on the target customer persona and flushed out an accurate buyer journey?
2. If the answer is “no” you need to return to these steps and ensure completion.
3. Pull together a summary review deck, schedule a meeting with the Steering Committee, present to-date findings for approval to move on to Phase 2.

Download the Go-to-Market Strategy Presentation Template

The presentation you create contains:

• Team composition and roles and responsibilities
• Steps in overall process
• Goals and objectives
• Timelines and work plan
• Initial product and launch concept
• Buyer persona and journey
• Competitive differentiation
• Channel strategy

Build a More Effective Go-to-Market Strategy

Phase 2

Design your initial product and business case

This phase will walk you through the following activities:

• Branding consistency check
• Formulate packaging and pricing
• Craft buyer-validated product concept
• Build initial campaign plan and targets
• Develop budgets for creative, content, and media purchases
• Draft product business case
• Update GTM Strategy deck

This phase involves the following stakeholders:

• Steering Committee
• Working group leaders

To complete this phase, you will need:

Go-to-Market Strategy Presentation Template	Go-to-Market Strategy RACI and Launch Checklist Workbook	Buyer Persona and Journey blueprint	Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook
Use the Go-to-Market Strategy Presentation Template to document the results from the following activities: Documenting your GTM strategy stakeholders Documenting your GTM strategy working team	Use the Go-to-Market Strategy RACI and Launch Checklist Workbook to: Review the scope of roles and responsibilities required Document the roles and responsibilities of your teams	Use the Buyer Persona and Journey blueprint to: Interview sales and customers/prospects to inform product concepts, understand persona and later, flesh out buyer journeys	Use the Go-to-Market Cost Budget and Revenue Forecast Workbook to: Tally budgets from across key functions involved in GTM Strategy Compare with forecasted revenues to assess gross margins

Step 2.1

Compare Emerging Messaging and Positioning With Existing Brand for Consistency

Activities

Share messaging documented with the buyer journey with branding/creative and/or Marketing VP/CMO to ensure consistency with overall corporate messaging. Use the “Brand Diagnostic” on the following slide as a quick check.

For those marketers that see the need for a re-brand, please:
Download the Go-to-Market Strategy Presentation Template

Later during the Build phase of GTM, marketing assets, digital platforms, sales enablement, and sales training will be created where actual messaging can be written with brand guidelines aligned.

This step is to assess whether you we need to budget extra funds for any rebranding.

This step will walk you through the following activities:

• After completing the buyer journey and identifying messaging, test with branding/CMO that new messaging aligns with current:
  • Company positioning
  • Messaging
  • Brand imagery

This step involves the following participants:

• Project lead
• Product marketing
• Branding/creative
• CMO

Outcomes of this step

• Check – Y/N on brand alignment
• Adjustments made to current branding or new product messaging to gain alignment

Phase 2 – Validate designs with buyers and solidify product business case

Brand identity

Step 2.2

Formulate Packaging and Pricing

Activities

• 2.2.1 Leverage what was learned in Phase 1 from buyer interviews to create an initial packaging and initial pricing approach.
  • Packaging success is driven by knowing what the buyer values are, how newly proposed functionality may work with other applications, and how well the buyer(s) work in teams.
  • Develop pricing using cost-plus, value/ROI, and competitive/market pricing comparisons.

This step will walk you through the following activities:

• Approaches to establishing price points for software products
• Checking if pricing supports emerging product revenue plan

This step involves the following participants:

• Project lead
• Product Marketing
• Product Management
• Pricing (if a function)

Outcomes of this step

• Pricing that is validated through buyer interviews and consistent with overall company pricing guardrails
• Packaging that can be delivered

Phase 2 – Validate designs with buyers and solidify product business case

2.2.1 Formulate packaging and pricing

Goal: Incorporate buyer benefits into your MVP that delivers the buyer value that compels them to purchase and drives the business case

Step 2.3

Build a Buyer-Validated Product Concept

Activities

• 2.2.1 Add to your initial product concept from Phase 1, the pricing and packaging approach.
  • Take the concept out to buyers to get their feedback – not on UX design, that will come later, but to ensure the value is clear to the buyers, and to raise confidence in the product concept.
  • As with previous customer and prospect interviews, use the Buyer Persona and Journey blueprint with its accompanying interview guide and focus on the product related questions.
  • Generate your slides to present and discuss with buyers, capture feedback, and refine the product concept.

This step will walk you through the following activities:

• Hold buyer interviews to review the product design
• Validate concept and commercial variables – not UX design, that comes later

This step involves the following participants:

• Project lead
• Product Marketing
• Product Management

Outcomes of this step

• Customer validated product concept that meets the business plan

Phase 2 – Validate designs with buyers and solidify product business case

2.3.1 The best new product hypothesis doesn’t always come from your best customers

Goal: Validate your product concept and business case

2.3.2 How your prospects buy will inform upcoming campaign design

Goal: During product validation interviews, further validate the buyer journey to identify asset types to be created/sourced for launch campaign design

Answers you need to map buyer journey

Your buyer interviews – whether during earlier steps or here during product concept validation – will give specific answers to all areas in green text below. Understanding channels, asset-types, and crafting your key messaging are essential for next steps.

Step 2.4

Build Your Initial Campaign Plan and Targets

Activities

• 2.4.1. While product management and marketing is working on the business case, the campaign team is designing their launch campaign.
• Expand from the product concept and build out the entire launch campaign identifying dates, CTA’s, channels, and asset types needed that will be built during the Build phase.

This step will walk you through the following activities:

• Outline deployment plan of activities and outcomes
• Draw up specs for needed assets, web-page changes, emails, target segments, and targets for leads generated

This step involves the following participants:

• Project lead
• Field Marketing
• Product Marketing

Outcomes of this step

• The initial draft of the campaign plan that outlines multichannel activities, dates, and assets that need to be sourced and/or created

Phase 2 – Validate designs with buyers and solidify product business case

2.4.1 Document your campaign plan

2 hours

Launch campaign

Our Goal for [Campaign name] is to generate X SQL’s

Awareness

PR/EXTERNAL COMMS:

Promote release in line with company story

• [Executive Name] interview with [Publication Y] on [Launch Topic X] – Mo./Day
• Press Release on new enhancements – Mo./Day
• [Executive Name] interview with [Publication Z] on [Launch Topic X] – Mo./Day

ANALYST RELATIONS:

Receive analyst feedback pre-launch and brief with final releases messaging/positioning

• Inquiry with [Key Analysts] on [Launch Topic X] – Mo./Day, pre launch
• Press Release shared on new enhancements – Launch day minus two days
• Analyst briefing with [Key Analysts] on [Launch Topic X] – Launch day minus two days

Download the Go-to-Market Strategy Presentation Template

2.4.2 Campaign targets

Goal: Establish a Marketing-Influenced Win target that will be achieved for this launch

Step 2.5

Develop Initial Budgets Across All Areas

Activities

• 2.5.1 Use the Go-to-Market Budget Workbook and work with your workstream leads.
  • Capture the costs associated with this GTM Strategy and Launch.
  • Summarize your GTM budget in the Go-to-Market Strategy Presentation, including the details behind the gross margin calculation for your GTM Strategy/campaign if required.

This step will walk you through the following activities:

• Field marketing, product marketing, creative, others to identify the specific budget elements needed for this campaign/launch

This step involves the following participants:

• Project lead
• Field Marketing
• Product Marketing
• Branding/creative

Outcomes of this step

• The initial marketing budget for this campaign/launch

Phase 2 – Validate designs with buyers and solidify product business case

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

2.5.1 Develop your GTM Strategy/product launch campaign budget

Goal: Work with your workstream leads to identify all incremental costs associated with this GTM strategy and product launch

1. Use the Go-to-Market Budget Workbook and adjust to include the areas that are identified by your workstream leads as being applicable to this GTM Strategy and Launch.
   • These should be incremental costs to normal operating and capital budgets and those areas that are fully approved for inclusion by your Steering Committee/Sponsoring Executive.
2. Begin to Catalog all applicable costs to include all key areas such as:
   • Technology costs for internal use (typically from Marketing Ops), and “core” to product technology costs working with the product team
   • Channel marketing programs, agency (e.g. branding, naming, web design, SEO, content marketing, etc.), T&E, paid media, events, marketing assets, etc.

Note that in the Align Step – Step 3, you will see your workstream leads each develop their individual contributions to both the launch plan as well a budget.

3. Summarize your initial GTM budget findings in the Go-to-Market Strategy Presentation, including the details behind the gross margin calculation for your GTM Strategy/campaign if required. Again, you will flush out the final costs within each workstream areas in Phase 3, ”Align.”

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

Step 2.6

Draft Initial Product Business Case

Activities

• 2.6.1 Here’s where you begin to pull together all the essential elements of your final business case.
  • For many organizations that require a view of return on investment, you will begin here to shape the key elements that your organization requires for a complete business case to go ahead with the needed investments.
  • The goal is to compare estimated costs to estimated revenues to ensure acceptable margins will be delivered for this GTM strategy/product launch.
  • The culmination of work to get to this calculation will continue through Phase 3; however, the following slide illustrates the kind of visualization that will be possible with our approach.

This step will walk you through the following activities:

• A product revenue forecast is created, alignment with sales/sales targets is created for a minimum viable product (MVP) that meets the buyer’s needs at the price point established/validated

This step involves the following participants:

• Project lead
• Product management
• Product marketing
• Sales leadership

Outcomes of this step

• The important measures of:
  • Product revenue forecast
  • Supported MVP features

Phase 2 – Validate designs with buyers and solidify product business case

Gross Margin Estimates – part of a complete product business case

Your goal: Earn more than you spend! This projection of estimated gross margins should be part of your product launch business case. The GTM initiative lead and workstream leads are charged with estimating incremental costs, and product and sales must work together on the revenue forecast.

Net Return We estimate our 12 month gross profit to be …. Quarterly Revenues Based on sales forecast, our quarterly/monthly revenues are …. Estimated Expenses Incremental up-front costs are expected to be ….

2.6.1 Develop your initial product business case

Goal: Focused on the Product Concept areas related to product Market Fit, Buyer Needs and Market Opportunity, Product Managers will summarize in order to gain approval for Build

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

Step 2.7

Update the GTM Strategy Presentation Deck for Executive Review and Sign-off

Activities

• 2.7.1 Update the deck with Phase 2 findings culminating in the business case.

This step will walk you through the following activities:

• Drop into the GTM Strategy deck the summary findings from the team’s work
• Write an executive summary that garners executive support for needed funds, signed-up-for sales targets, agreed upon launch timing
• Steering Committee alignment on above and next steps

This step involves the following participants:

• Project lead
• Steering Committee
• Workstream leads

Outcomes of this step

• Executive support for the GTM Strategy plan and approval to proceed to Phase 3

Phase 2 – Validate designs with buyers and solidify product business case

2.7.1 Update your GTM Strategy deck for Design Steering Committee approval

1. As you near completion of the Go-to-Market Strategy Phase – Design Step, while your emerging business case is important, it will be finalized in the Align Step.
2. An important test to pass before proceeding to the Align step of the GTM Strategy, is to answer several key questions:
   1. Have you validated the product value proposition with buyers?
   2. Is the competitive differentiation clear for this offering?
   3. Did Sales support the business case by signing up for the incremental quota?
   4. Has product defined an MVP that aligns with the buyer value needed to drive purchases?
   • If the answer is “no” you need to return to these steps and ensure completion
3. Pull together a summary review deck, schedule a meeting with the Steering Committee, and present to-date findings for approval to move onto Phase 3.

Download the Go-to-Market Strategy Presentation Template

The presentation you create contains:

• Timelines and a work plan
• Expanded product concept to include your packaging and pricing approach
• Feedback from buyers on validated product concept especially commercial elements
• Expanded campaign plan and marketing budget
• Initial product business case

Build a More Effective Go-to-Market Strategy

Phase 3

Align stakeholder plans to prep for build

This phase will walk you through the following activities:

1. Assess tech/tools support for all GTM phases
2. Map lead generation plan
3. Outline Customer Success plan
4. Build awareness plan (PR/AR, etc.)
5. Finalize product business case
6. Final GTM planning deck and Steering Committee review

This phase involves the following stakeholders:

• Steering Committee
• Working group leaders

To complete this phase, you will need:

Go-to-Market Strategy Presentation Template	Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook
Use the Go-to-Market Strategy Presentation Template to document the results from the following activities: Documenting your GTM Strategy Stakeholders Documenting your GTM Strategy Working Team	Use the Go-to-Market Cost Budget and Revenue Forecast Workbook to: Tally budgets from across key functions involved in the GTM Strategy Compare with forecasted revenues to assess gross margins

Step 3.1

Assess Technology and Tools Support for Your GTM Strategy as Well as Future Phases of GTM

Activities

• 3.1.1 Have Marketing Operations document what tech stack improvements are required in order to get the team to a successful launch. Understand costs and implementation timelines and work it into the Go-to-Market Budget Workbook.

This step will walk you through the following activities:

• After completing your initial survey in Step 1, complete requirements building for needed technology and tools acquisition/upgrade in campaign management, sales opportunity management, and analytics.

This step involves the following participants:

• Project lead
• Marketing operations/digital
• IT

Outcomes of this step

• Build a business requirement against which to evaluate new/upgraded vendor tools to support the entire GTM process

Phase 3 – Align functional plans with a compelling business case for product build

3.1.1 Technology plan and investments

Goal: Outline the results of our analysis and Info-Tech analyst guidance regarding supporting systems, tools, and technologies to support our go-to-market strategy

1. Plans, timings, and incremental costs related to, but not limited to, the following apps/tools/technologies:
   1. Lead management/Marketing automation
   2. Marketing analytics
   3. Sales Opportunity Management System (OMS) and Configure, Price, and Quote (CPQ) applications
   4. Sales engagement
   5. Sales analytics
   6. Customer service and support/Customer interaction hub
   7. Customer data management and analytics
   8. Customer experience platforms
   9. Marketing content management
   10. Creative tools
   11. Share of voice and social platform management
   12. Etc.
2. Go to the Go-to-Market Budget Workbook and complete by adding costs identified in above areas that are specific to this go-to-market strategy, Build, and Launch initiative. Record in the Go-to-Market Strategy Presentation completing the areas within the slides related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

Step 3.2

Outline Sales Enablement and Support for Customer Success to Include Onboarding and Ongoing Engagement

Activities

• 3.3.1 Sales Enablement – develop the sales enablement and training plan for Launch to include activities, responsible parties, dates for delivery, etc.

This step will walk you through the following activities:

• Finalize the customer success training and support plan
• Onboarding scripts
• Changes to help screens in application
• Timing to plan for Quality Acceptance

This step involves the following participants:

• Project lead
• Customer Success lead
• Product management
• Product marketing

Outcomes of this step

• Plan for creation of copy, assets, and rollout pan to support clients and client segments for Launch

Phase 3 – Align functional plans with a compelling business case for product build

3.2.1 Outline sales enablement

Goal: Outline sales collateral, updates to sales proposals, CPQ, Opportunity Management Systems, and sales training

1. Describe the requirements for sales enablement to include elements such as:
   1. Sales collateral
   2. Client-facing presentations
   3. Sales proposal updates
   4. Updates to Configure, Price, and Quote (CPQ) applications
   5. Updates to Opportunity Management System (OMS) applications
   6. Sales demo versions of the new product
   7. Sales communication plans
   8. Sales training and certification programs
2. Go to the Go-to-Market Budget Workbook and add the costs identified in above areas that are specific to this go-to-market strategy, Build, and Launch initiative. Record as well in the Go-to-Market Strategy Presentation completing the areas within the slides related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

3.2.2 Outline customer success

Goal: Outline customer support/success requirements and plan

1. Plans, timings, and incremental costs for the following:
   1. Onboarding scripts for the new solution
   2. Updates to retention lifecycle
   3. FAQ answers
   4. Updates to online help/support system
   5. “How-to” videos
   6. Live chat updates
   7. Updates to “provide feedback” system
   8. Updates to Quarterly Business Review slides
2. Go to the Go-to-Market Budget Workbook and add the costs identified in above areas that are specific to this go-to-market strategy, Build, and Launch initiative. Record in the Go-to-Market Strategy Presentation and complete the areas within the slides related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

Step 3.3

Build an Awareness Plan Covering Media, Social Media, and Industry Analysts

Activities

• 3.4.1 Corp Comms/PR/AR – develop the overall awareness plans for executive interviews, articles placed, social drops, analyst briefing dates, and internal associate comms if required.

This step will walk you through the following activities:

• Outline outbound communications plans including press releases, social posts, etc.
• Describe dates for AR outreach to covering analysts
• Develop the internal communications plan

This step involves the following participants:

• Project lead
• Corporate Comms lead
• Creative
• Analyst relations
• Social media marketing lead

Outcomes of this step

• Plan for creation of copy, assets, and rollout pan to support awareness building, external communications, and internal communications if required

Phase 3 – Align functional plans with a compelling business case for product build

3.3.1 Internal communications plan

Goal: Outline complete internal communications plan. For large-scale changes (i.e. rebranding, M&A, etc.) HR may drive significant volume of employee communications working with Corporate Comms

1. Plans, timings, and incremental costs for the following:
   1. Complete a comms plan with dates, messages, and channels
   2. Team member roles and responsibilities
   3. Intranet article and posting schedules
   4. Creation of new office signage, merchandise, etc. for employee kits
   5. Pre-launch announcements schedule
   6. Launch day communications, events, and activities
   7. Post launch update schedule and messages for launch success
   8. Incremental staffing and resources/budget requirements
2. Go to the Go-to-Market Budget Workbook and add costs identified in above areas that are specific to this go-to-market strategy, Build, and Launch initiative. Record as well in the Go-to-Market Strategy Presentation completing the areas related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

3.3.2 PR and External Communications Plan

Goal: Outline complete internal communications plan. For large scale changes (i.e. rebranding, M&A, etc.) HR may drive significant volume of employee communications working with Corporate Comms

1. Plans, timings, and incremental costs for the following:
   1. List of Tier 1 and Tier 2 media authors covering the [product/initiative] market area
   2. Schedule of launch briefings, with any non-analyst influencers
   3. Timing of press releases
   4. Required supporting executives and stakeholders for each of the above meetings
   5. Slide deck/media kit for the above and planned questions to support needed feedback
   6. Media Site materials especially to support media questions and requests for briefings
   7. Social postings calendar of activities and key messages plan
   8. Publish data of [product/initiative] relevant articles with set-back schedules
   9. Cultivation of reference customers and client testimonials for media outreach
   10. Requirements for additional staffing to cover product/initiative new market and analysts
   11. Internal and external events calendar to invite media
2. Go to the Go-to-Market Budget Workbook and add the costs identified in the above areas that are specific to this go-to-market strategy, Build, and Launch initiative. Record in the Go-to-Market Strategy Presentation by completing the areas related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

3.3.3 Analyst relations plan

Goal: Outline incremental costs in analyst communications, engagement, and access to research

1. Plans, timings, and incremental costs for the following:
   1. List of Tier 1 and Tier 2 analysts for the [product/initiative] market area
   2. Schedule of inquiries, pre-launch briefings, launch briefings, and post-launch feedback
   3. Required supporting executives and stakeholders for each of the above meetings
   4. Analyst deck for each of the above and planned questions to support needed feedback
   5. Analyst Site materials to support 2nd and 3rd Tier analysts’ questions and requests for briefings
   6. Social postings calendar of activities and key messages
   7. Resources to respond to analyst blogs and/or social posts regarding your product/initiative area
   8. Timing of important and relevant analyst document/methodology publishing dates with set-back schedules
   9. Cultivation of reference customers and client testimonials to coincide with analyst outreach for research and for buyer review sites/reviews data gathering
   10. Requirements for additional staffing to cover product/initiative new market and analysts
   11. Events calendar where analysts will be presenting on this product/initiative market
2. Go to the Go-to-Market Budget Workbook and add the costs identified in the above areas that are specific to this go-to-market strategy, Build and Launch initiative. Record in the Go-to-Market Strategy Presentation by completing the areas related to the Product and Launch Concepts and Business Case.

Download the Go-to-Market Strategy Cost Budget and Revenue Forecast Workbook

Download the Go-to-Market Strategy Presentation Template

Step 3.4

Finalize Product Business Case With Collaborative Input From Product, Sales, and Marketing

Activities

• 3.5.1 Convene the team to align sales, marketing, and product around the business case.

This step will walk you through the following activities:

• Refine the product business case initiated in Phase 2
• Align product revenue forecast with sales revenue forecast
• Align MVP features to be developed during “GTM – Build” with customer validated product-market fit

This step involves the following participants:

• Project lead
• Product management
• Product marketing

Outcomes of this step

• Product business case

Phase 3 – Align functional plans with a compelling business case for product build

3.4.1 Final product Build and Launch business case

Goal: Beyond the product business case, factor in costs for technology, campaigning, sales enablement, and customer success in order to gain approval for Build and Launch

Step 3.5

Develop Your Final Executive Presentation to Request Approval and Proceed to GTM Build Phase

Activities

• 3.6.1 Update the Product, Launch, Journey, and Business Case slides included within the Go-to-Market Strategy Presentation Template with Phase 3 findings culminating in the business case.

This step will walk you through the following activities:

• Update the previously created slides with findings from Phase 3
• Hold a Steering Committee meeting and present findings for approval

This step involves the following participants:

• Steering Committee
• Workstream leads

Outcomes of this step

• GTM Strategy approved to move to GTM Build

Phase 3 – Align functional plans with a compelling business case for product build

3.5.1 Update your GTM Strategy deck for Align Steering Committee approval

1. As you near completion of the Go-to-Market Strategy Phase – Align Step, an important test to pass before proceeding to the Design step of GTM Strategy, is to answer several key questions:
   1. Are Sales, Product, and Marketing all aligned and in agreement on the business case?
   2. Are the gross margin calculations acceptable to the Steering Committee? CFO? CEO?
2. If the answer is “no” you need to return to prior steps and ensure completion.
3. Pull together a summary review deck, schedule a meeting with the Steering Committee, present to-date findings for approval to move on to Build Phase.
4. Once your final business case is accepted, you are ready to move on to the GTM Build and Launch phases. These phases are covered in sperate SoftwareReviews blueprints.

Download the Go-to-Market Strategy Presentation Template

The presentation you create contains:

• Timelines and work plan updates
• Tech stack needs/modifications
• An expanded product concept to include packaging and pricing approach
• Asset-type concepts for marketing campaigns, sales collateral, website, and social
• Outline of initial Launch dates
• Outline of initial customer success, awareness/PR/AR plans, and sales training plans
• Final business case

Summary of Accomplishment

Problem Solved – A More Effective Go-to-Market Strategy

By guiding your team through the Go-to-Market planning process applied to an actual GTM Strategy, you have built an important set of capabilities that underpins today’s well-managed software companies. By following the step-by-step process outlined in this blueprint, you have delivered a host of benefits that include the following:

• Alignment of Product, Marketing, Sales, and Customer Success around a deeper understanding of your target buyers and what it takes to build competitive differentiation.
• You have calculated your product market opportunity and whether it’s worth the investment in the long-term, and for the short term you have estimated gross margins as an important part of the business case.
• Built executive support and confidence by leading a disparate team in complex decision making that is fact and evidence based to make more effective go/no go decisions related to investing in new products.
• And finally, because you and your team have demonstrated their ability to align programs toward a common goal and program-manage a complex initiative through to successful completion, you have led your team to develop the “institutional muscle” to take on equally complex initiatives such as acquisition integration, rebranding, launching in a new region, etc.

Therefore, developing the capabilities to manage a complex go-to-market strategy is akin to building company scalability and is sought after as a professional development opportunity that each executive should have on his/her résumé.

If you would like additional support, contact us and we’ll make sure you get the professional expertise you need.

Contact your account representative for more information.

info@softwarereviews.com 1-888-670-8889

Bibliography

Acosta, Danette. “Average Customer Retention Rate by Industry.” Profitwell.com. Accessed Jan. 2022.

Ashkenas, Ron, and Patrick Finn. “The Go-To-Market Approach Startups Need to Adopt.” Harvard Business Review, June 2016. Accessed Jun. 2021.

Bilardi, Emma. “ How to Create Buyer Personas.” Product Marketing Alliance, July 2020. Accessed Dec. 2021.

Cespedes, Frank V. “Defining a Post-Pandemic Channel Strategy.” Harvard Business Review, Apr. 2021. Accessed Jul. 2021.

Chapman, Lawrence. “A Visual Guide to Product Launches.” Product Marketing Alliance. Accessed Jul. 2021.

Chapman, Lawrence. “Everything You Need To Know About Go-To-Market Strategies.” Product Marketing Alliance. Accessed Jul. 2021.

Christiansen, Clayton. “The Innovators Dilemma.” Harvard Business School Press, 1997.

Drzewicki, Matt. “Digital Marketing Maturity: The Path to Success.” MIT Sloan Management Review. Accessed Dec. 2021.

“Go-To-Market Refresher,” Product Marketing Alliance. Accessed Jul. 2021

Harrison, Liz; Dennis Spillecke, Jennifer Stanley, and Jenny Tsai. “Omnichannel in B2B sales: The new normal in a year that has been anything but.” McKinsey & Company, 15 March, 2021. Accessed Dec. 2021.

Jansen, Hasse. “Buyer Personas – 33 Mind Blowing Stats.” Boardview, 19 Feb. 2016. Accessed Jan. 2022.

Scott, Ryan. “Creating a Brand Identity: 20 Questions to Consider.” Lean Labs, Jun 2021. Accessed Jul. 2021.

Smith, Michael L., and James Erwin. “Role and Responsibility Charting (RACI).” DOCSearch. Accessed Jan. 2022. Web.

“What is the Total Addressable Market (TAM).” Corporate Finance Institute (CFI), n.d. Accessed Jan. 2022.

Related Software Reviews Research

Create a Buyer Persona and Journey A successful go-to-market strategy depends upon deep buyer understanding. Our Create a Buyer Persona and Journey blueprint will give you a step-by-step process that when followed will provide you and your team with that deep buyer understanding you need. The Create a Buyer Persona and Journey blueprint provides you with an interview containing over 75 questions that, after capturing buyer answers and insights during interviews, will strengthen your value proposition, product market fit, lead gen engine and sales effectiveness.

Optimize Lead Generation With Lead Scoring Save time and money and improve your sales win rates when you apply our methodology to score contacts with your lead gen engine more accurately and pass better qualified leads over to your sellers. Our methodology teaches marketers to develop your own lead scoring approach based upon lead/contact profile vs. your Ideal Customer Profile (ICP) and scores contact engagement. Applying the methodology to arrive at your own approach to scoring will mean reduced lead gen costs, higher conversion rates, and increased marketing influenced wins.

Build a Strong Technology Foundation for Customer Experience Management

Design an end-to-end technology strategy to enhance marketing effectiveness, drive sales, and create compelling customer service experiences.

ANALYST PERSPECTIVE

Technology is the catalyst to create – and keep! – your customers.

"Customers want to interact with your organization on their own terms, and in the channels of their choice (including social media, mobile applications, and connected devices). Regardless of your industry, your customers expect a frictionless experience across the customer lifecycle. They desire personalized and well-targeted marketing messages, straightforward transactions, and effortless service. Research shows that customers value – and will pay more for! – well-designed experiences.

Strong technology enablement is critical for creating customer experiences that drive revenue. However, most organizations struggle with creating a cohesive technology strategy for customer experience management (CXM). IT leaders need to take a proactive approach to developing a strong portfolio of customer interaction applications that are in lockstep with the needs of their marketing, sales, and customer service teams. It is critical to incorporate the voice of the customer into this strategy.

When developing a technology strategy for CXM, don’t just “pave the cow path,” but instead move the needle forward by providing capabilities for customer intelligence, omnichannel interactions, and predictive analytics. This blueprint will help you build an integrated CXM technology roadmap that drives top-line revenue while rationalizing application spend."

Ben Dickie

Research Director, Customer Experience Strategy

Info-Tech Research Group

Framing the CXM project

This Research Is Designed For:

• IT leaders who are responsible for crafting a technology strategy for customer experience management (CXM).
• Applications managers who are involved with the selection and implementation of critical customer-centric applications, such as CRM platforms, marketing automation tools, customer intelligence suites, and customer service solutions.

This Research Will Help You:

• Clearly link your technology-enablement strategy for CXM to strategic business requirements and customer personas.
• Build a rationalized portfolio of enterprise applications that will support customer interaction objectives.
• Adopt standard operating procedures for CXM application deployment that address issues such as end-user adoption and data quality.

This Research Will Also Assist:

• Business leaders in marketing, sales, and customer service who want to deepen their understanding of CXM technologies, and apply best practices for using these technologies to drive competitive advantage.
• Marketing, sales, and customer service managers involved with defining requirements and rolling out CXM applications.

This Research Will Help Them:

• Work hand-in-hand with counterparts in IT to deploy high-value business applications that will improve core customer-facing metrics.
• Understand the changing CXM landscape and use the art of the possible to transform the internal technology ecosystem and drive meaningful customer experiences.

Executive summary

Situation

• Customer expectations for personalization, channel preferences, and speed-to-resolution are at an all-time high.
• Your customers are willing to pay more for high-value experiences, and having a strong customer CXM strategy is a proven path to creating sustainable value for the organization.

Complication

• Technology is a fundamental enabler of an organization’s CXM strategy. However, many IT departments fail to take a systematic approach to building a portfolio of applications to support Marketing, Sales, and Customer Service.
• The result is a costly, ineffective, and piecemeal approach to CXM application deployment (including high profile applications like CRM).

Resolution

• IT must work in lockstep with their counterparts in marketing, sales, and customer service to define a unified vision, strategic requirements and roadmap for enabling strong customer experience capabilities.
• In order to deploy applications that don’t simply follow previously established patterns but are aligned with the specific needs of the organization’s customers, IT leaders must work with the business to define and understand customer personas and common interaction scenarios. CXM applications are mission critical and failing to link them to customer needs can have a detrimental effect on customer satisfaction – and ultimately revenue.
• IT must act as a valued partner to the business in creating a portfolio of CXM applications that are cost effective.
• Organizations should create a repeatable framework for CXM application deployment that addresses critical issues, including the integration ecosystem, customer data quality, dashboards and analytics, and end-user adoption.

Info-Tech Insight

1. IT can’t hide behind the firewall. IT must understand the organization’s customers to properly support marketing, sales, and service efforts.
2. IT – or Marketing – must not build the CXM strategy in a vacuum if they want to achieve a holistic, consistent, and seamless customer experience.
3. IT must get ahead of shadow IT. To be seen as an innovator within the business, IT must be a leading enabler in building a rationalized and integrated CXM application portfolio.

Guide to frequently used acronyms

CXM - Customer Experience Management

CX - Customer Experience

CRM - Customer Relationship Management

CSM - Customer Service Management

MMS - Marketing Management System

SMMP - Social Media Management Platform

RFP - Request for Proposal

SaaS - Software as a Service

Customers’ expectations are on the rise: meet them!

Today’s consumers expect speed, convenience, and tailored experiences at every stage of the customer lifecycle. Successful organizations strive to support these expectations.

67% of end consumers will pay more for a world-class customer experience. 74% of business buyers will pay more for strong B2B experiences. (Salesforce, 2018)

5 CORE CUSTOMER EXPECTATIONS

1. More personalization
2. More product options
3. Constant contact
4. Listen closely, respond quickly
5. Give front-liners more control

(Customer Experience Insight, 2016)

Customers expect to interact with organizations through the channels of their choice. Now more than ever, you must enable your organization to provide tailored customer experiences.

Realize measurable value by enabling CXM

Providing a seamless customer experience increases the likelihood of cross-sell and up-sell opportunities and boosts customer loyalty and retention. IT can contribute to driving revenue and decreasing costs by providing the business with the right set of tools, applications, and technical support.

Contribute to the bottom line

Cross-sell, up-sell, and drive customer acquisition.

67% of consumers are willing to pay more for an upgraded experience. (Salesforce, 2018)

80%: The margin by which CX leaders outperformer laggards in the S&P 500.(Qualtrics, 2017)

59% of customers say tailored engagement based on past interactions is very important to winning their business. (Salesforce, 2018)

Enable cost savings

Focus on customer retention as well as acquisition.

It is 6-7x more costly to attract a new customer than it is to retain an existing customer. (Salesforce Blog, 2019)

A 5% increase in customer retention has been found to increase profits by 25% to 95%. (Bain & Company, n.d.)

Strategic CXM is gaining traction with your competition

Organizations are prioritizing CXM capabilities (and associated technologies) as a strategic investment. Keep pace with the competition and gain a competitive advantage by creating a cohesive strategy that uses best practices to integrate marketing, sales, and customer support functions.

87% of customers share great experiences they’ve had with a company. (Zendesk, n.d.)

61% of organizations are investing in CXM. (CX Network, 2015)

53% of organizations believe CXM provides a competitive advantage. (Harvard Business Review, 2014)

Top Investment Priorities for Customer Experience

1. Voice of the Customer
2. Customer Insight Generation
3. Customer Experience Governance
4. Customer Journey Mapping
5. Online Customer Experience
6. Experience Personalization
7. Emotional Engagement
8. Multi-Channel Integration/Omnichannel
9. Quality & Customer Satisfaction Management
10. Customer/Channel Loyalty & Rewards Programs

(CX Network 2015)

Omnichannel is the way of the future: don’t be left behind

Get ahead of the competition by doing omnichannel right. Devise a CXM strategy that allows you to create and maintain a consistent, seamless customer experience by optimizing operations within an omnichannel framework. Customers want to interact with you on their own terms, and it falls to IT to ensure that applications are in place to support and manage a wide range of interaction channels.

Omnichannel is a “multi-channel approach to sales that seeks to provide the customer with a seamless transactional experience whether the customer is shopping online from a desktop or mobile device, by telephone, or in a bricks and mortar store.” (TechTarget, 2014)

97% of companies say that they are investing in omnichannel. (Huffington Post, 2015)

23% of companies are doing omnichannel well.

CXM applications drive effective multi-channel customer interactions across marketing, sales, and customer service

The success of your CXM strategy depends on the effective interaction of various marketing, sales, and customer support functions. To deliver on customer experience, organizations need to take a customer-centric approach to operations.

From an application perspective, a CRM platform generally serves as the unifying repository of customer information, supported by adjacent solutions as warranted by your CXM objectives.

CXM ECOSYSTEM

Customer Relationship Management Platform

• Web Experience Management Platform
• E-Commerce & Point of Sale Solutions
• Social Media Management Platform
• Customer Intelligence Platform
• Customer Service Management Tools
• Marketing Management Suite

Application spotlight: Customer experience platforms

Description

CXM solutions are a broad range of tools that provide comprehensive feature sets for supporting customer interaction processes. These suites supplant more basic applications for customer interaction management. Popular solutions that fall under the umbrella of CXM include CRM suites, marketing automation tools, and customer service applications.

Features and Capabilities

• Manage sales pipelines, provide quotes, and track client deliverables.
• View all opportunities organized by their current stage in the sales process.
• View all interactions that have occurred between employees and the customer, including purchase order history.
• Manage outbound marketing campaigns via multiple channels (email, phone, social, mobile).
• Build visual workflows with automated trigger points and business rules engine.
• Generate in-depth customer insights, audience segmentation, predictive analytics, and contextual analytics.
• Provide case management, ticketing, and escalation capabilities for customer service.

Highlighted Vendors

Microsoft Dynamics

Adobe

Marketo

sprinklr

Salesforce

SugarCRM

Application spotlight: Customer experience platforms

Key Trends

• CXM applications have decreased their focus on departmental silos to make it easier to share information across the organization as departments demand more data.
• Vendors are developing deeper support of newer channels for customer interaction. This includes providing support for social media channels, native mobile applications, and SMS or text-based services like WhatsApp and Facebook Messenger.
• Predictive campaigns and channel blending are becoming more feasible as vendors integrate machine learning and artificial intelligence into their applications.
• Content blocks are being placed on top of scripting languages to allow for user-friendly interfaces. There is a focus on alleviating bottlenecks where content would have previously needed to go through a specialist.
• Many vendors of CXM applications are placing increased emphasis on strong application integration both within and beyond their portfolios, with systems like ERP and order fulfillment.

Link to Digital Strategy

• For many organizations that are building out a digital strategy, improving customer experience is often a driving factor: CXM apps enable this goal.
• As part of a digital strategy, create a comprehensive CXM application portfolio by leveraging both core CRM suites and point solutions.
• Ensure that a point solution aligns with the digital strategy’s technology drivers and user personas.

CXM KPIs

Strong CXM applications can improve:

• Lead Intake Volume
• Lead Conversion Rate
• Average Time to Resolution
• First-Contact Resolution Rate
• Customer Satisfaction Rate
• Share-of-Mind
• Share-of-Wallet
• Customer Lifetime Value
• Aggregate Reach/Impressions

IT is critical to the success of your CXM strategy

Technology is the key enabler of building strong customer experiences: IT must stand shoulder-to-shoulder with the business to develop a technology framework for CXM.

Top 5 Challenges with CXM for Marketing

1. Maximizing customer experience ROI
2. Achieving a single view of the customer
3. Building new customer experiences
4. Cultivating a customer-focused culture
5. Measuring CX investments to business outcomes

Top 5 Obstacles to Enabling CXM for IT

1. Systems integration
2. Multichannel complexity
3. Organizational structure
4. Data-related issues
5. Lack of strategy

(Harvard Business Review, 2014)

Only 19% of organizations have a customer experience team tasked with bridging gaps between departments. (Genesys, 2018)

IT and Marketing can only tackle CXM with the full support of each other. The cooperation of the departments is crucial when trying to improve CXM technology capabilities and customer interaction and drive a strong revenue mandate.

CXM failure: Blockbuster

CASE STUDY

Industry Entertainment

Source Forbes, 2014

Blockbuster

As the leader of the video retail industry, Blockbuster had thousands of retail locations internationally and millions of customers. Blockbuster’s massive marketing budget and efficient operations allowed it to dominate the competition for years.

Situation

Trends in Blockbuster’s consumer market changed in terms of distribution channels and customer experience. As the digital age emerged and developed, consumers were looking for immediacy and convenience. This threatened Blockbuster’s traditional, brick-and-mortar B2C operating model.

The Competition

Netflix entered the video retail market, making itself accessible through non-traditional channels (direct mail, and eventually, the internet).

Results

Despite long-term relationships with customers and competitive standing in the market, Blockbuster’s inability to understand and respond to changing technology trends and customer demands led to its demise. The organization did not effectively leverage internal or external networks or technology to adapt to customer demands. Blockbuster went bankrupt in 2010.

Customer Relationship Management

• Web Experience Management Platform
• E-Commerce & Point of Sale Solutions
• Social Media Management
• Customer Intelligence
• Customer Service
• Marketing Management

Blockbuster did not leverage emerging technologies to effectively respond to trends in its consumer network. It did not optimize organizational effectiveness around customer experience.

CXM success: Netflix

CASE STUDY

Industry Entertainment

Source Forbes, 2014

Netflix

Beginning as a mail-out service, Netflix offered subscribers a catalog of videos to select from and have mailed to them directly. Customers no longer had to go to a retail store to rent a video. However, the lack of immediacy of direct mail as the distribution channel resulted in slow adoption.

The Situation

In response to the increasing presence of tech-savvy consumers on the internet, Netflix invested in developing its online platform as its primary distribution channel. The benefit of doing so was two-fold: passive brand advertising (by being present on the internet) and meeting customer demands for immediacy and convenience. Netflix also recognized the rising demand for personalized service and created an unprecedented, tailored customer experience.

The Competition

Blockbuster was the industry leader in video retail but was lagging in its response to industry, consumer, and technology trends around customer experience.

Results

Netflix’s disruptive innovation is built on the foundation of great CXM. Netflix is now a $28 billion company, which is tenfold what Blockbuster was worth.

Customer Relationship Management Platform

• Web Experience Management Platform
• E-Commerce & Point of Sale Solutions
• Social Media Management Platform
• Customer Intelligence Platform
• Customer Service Management Tools
• Marketing Management Suite

Netflix used disruptive technologies to innovatively build a customer experience that put it ahead of the long-time, video rental industry leader, Blockbuster.

Leverage Info-Tech’s approach to succeed with CXM

Creating an end-to-end technology-enablement strategy for CXM requires a concerted, dedicated effort: Info-Tech can help with our proven approach.

Build the CXM Project Charter

Conduct a Thorough Environmental Scan

Build Customer Personas and Scenarios

Draft Strategic CXM Requirements

Build the CXM Application Portfolio

Implement Operational Best Practices

Why Info-Tech’s Approach?

Info-Tech draws on best-practice research and the experiences of our global member base to develop a methodology for CXM that is driven by rigorous customer-centric analysis.

Our approach uses a unique combination of techniques to ensure that your team has done its due diligence in crafting a forward-thinking technology-enablement strategy for CXM that creates measurable value.

A global professional services firm drives measurable value for CXM by using persona design and scenario development

CASE STUDY

Industry Professionals Services

Source Info-Tech Workshop

The Situation

A global professional services firm in the B2B space was experiencing a fragmented approach to customer engagement, particularly in the pre-sales funnel. Legacy applications weren’t keeping pace with an increased demand for lead evaluation and routing technology. Web experience management was also an area of significant concern, with a lack of ongoing customer engagement through the existing web portal.

The Approach

Working with a team of Info-Tech facilitators, the company was able to develop several internal and external customer personas. These personas formed the basis of strategic requirements for a new CXM application stack, which involved dedicated platforms for core CRM, lead automation, web content management, and site analytics.

Results

Customer “stickiness” metrics increased, and Sales reported significantly higher turnaround times in lead evaluations, resulting in improved rep productivity and faster cycle times.

Follow Info-Tech’s approach to build your CXM foundation

Create the Project Vision

• Identify business and IT drivers
• Outputs:
  • CXM Strategy Guiding Principles

Structure the Project

• Identify goals and objectives for CXM project
• Form Project Team
• Establish timeline
• Obtain project sponsorship
• Outputs:
  • CXM Strategy Project Charter

Scan the External Environment

• Create CXM operating model
• Conduct external analysis
• Create customer personas
• Outputs:
  • CXM Operating Model

• Conduct PEST analysis
• Create persona scenarios
• Outputs:
  • CXM Strategic Requirements

Assess the Current State of CXM

• Conduct SWOT analysis
• Assess application usage and satisfaction
• Conduct VRIO analysis
• Outputs:
  • CXM Strategic Requirements

Create an Application Portfolio

• Map current processes
• Assign business process owners
• Create channel map
• Build CXM application portfolio
• Outputs:
  • CXM Application Portfolio Map

Develop Deployment Best Practices

• Develop CXM integration map
• Create mitigation plan for poor data quality
• Outputs:
  • Data Quality Preservation Map

Create an Initiative Rollout Plan

• Create risk management plan
• Identify work initiative dependencies
• Create roadmap
• Outputs:
  • CXM Initiative Roadmap

Confirm and Finalize the CXM Blueprint

• Identify success metrics
• Create stakeholder communication plan
• Present CXM strategy to stakeholders
• Outputs:
  • Stakeholder Presentation

Info-Tech offers various levels of support to suit your needs

DIY Toolkit

“Our team has already made this critical project a priority, and we have the time and capability, but some guidance along the way would be helpful.”

Guided Implementation

“Our team knows that we need to fix a process, but we need assistance to determine where to focus. Some check-ins along the way would help keep us on track.”

Workshop

“We need to hit the ground running and get this project kicked off immediately. Our team has the ability to take this over once we get a framework and strategy in place.”

Consulting

“Our team does not have the time or the knowledge to take this project on. We need assistance through the entirety of this project.”

Diagnostics and consistent frameworks used throughout all four options

Build a Strong Technology Foundation for CXM – project overview

Workshop overview

Contact your account representative or email Workshops@InfoTech.com for more information.

Phase 1

Drive Measurable Value With a World-Class CXM Program

Build a Strong Technology Foundation for Customer Experience Management

Phase 1 outline

Complete these steps on your own, or call us to complete a guided implementation. A guided implementation is a series of 2-3 advisory calls that help you execute each phase of a project. They are included in most advisory memberships.

Guided Implementation 1: Drive Measurable Value With a World-Class CXM Program

Proposed Time to Completion: 2 weeks

Step 1.1: Create the Project Vision

Start with an analyst kick-off call:

• Review key drivers from a technology and business perspective for CXM
• Discuss benefits of strong technology enablement for CXM

Then complete these activities…

• CXM Fireside Chat
• CXM Business and Technology Driver Assessment
• CXM Vision Statement

With these tools & templates:

• CXM Strategy Stakeholder Presentation Template

Step 1.2: Structure the Project

Review findings with analyst:

• Assess the CXM vision statement for competitive differentiators
• Determine current alignment disposition of IT with different business units

Then complete these activities…

• Team Composition and Responsibilities
• Metrics Definition

With these tools & templates:

• CXM Strategy Project Charter Template

Phase 1 Results & Insights:

• Defined value of strong technology enablement for CXM
• Completed CXM project charter

Step 1.1: Create the Project Vision

Phase 1

1.1 Create the Project Vision

1.2 Structure the Project

Phase 2

2.1 Scan the External Environment

2.2 Assess the Current State of CXM

2.3 Create an Application Portfolio

2.4 Develop Deployment Best Practices

Phase 3

3.1 Create an Initiative Rollout Plan

3.2 Confirm and Finalize the CXM Blueprint

Activities:

• Fireside Chat: Discuss past challenges and successes with CXM
• Identify business and IT drivers to establish guiding principles for CXM

Outcomes:

• Business benefits of a rationalized technology strategy to support CXM
• Shared lessons learned
• Guiding principles for providing technology enablement for CXM

Building a technology strategy to support customer experience isn’t an option – it’s a mission-critical activity

• Customer-facing departments supply the lifeblood of a company: revenue. In today’s fast-paced and interconnected world, it’s becoming increasingly imperative to enable customer experience processes with a wide range of technologies, from lead automation to social relationship management. CXM is the holistic management of customer interaction processes across marketing, sales, and customer service to create valuable, mutually beneficial customer experiences. Technology is a critical building block for enabling CXM.
• The parallel progress of technology and process improvement is essential to an efficient and effective CXM program. While many executives prefer to remain at the status quo, new technologies have caused major shifts in the CXM environment. If you stay with the status quo, you will fall behind the competition.
• However, many IT departments are struggling to keep up with the pace of change and find themselves more of a firefighter than a strategic partner to marketing, sales, and service teams. This not only hurts the business, but it also tarnishes IT’s reputation.

An aligned, optimized CX strategy is:

Rapid: to intentionally and strategically respond to quickly-changing opportunities and issues.

Outcome-based: to make key decisions based on strong business cases, data, and analytics in addition to intuition and judgment.

Rigorous: to bring discipline and science to bear; to improve operations and results.

Collaborative: to conduct activities in a broader ecosystem of partners, suppliers, vendors, co-developers, and even competitors.

(The Wall Street Journal, 2013)

Info-Tech Insight

If IT fails to adequately support marketing, sales, and customer service teams, the organization’s revenue will be in direct jeopardy. As a result, CIOs and Applications Directors must work with their counterparts in these departments to craft a cohesive and comprehensive strategy for using technology to create meaningful (and profitable) customer experiences.

Fireside Chat, Part 1: When was technology an impediment to customer experience at your organization?

1.1.1 30 minutes

Input

• Past experiences of the team

Output

• Lessons learned

Materials

• Whiteboard
• Markers

Participants

• Core Team

Instructions

1. Think about a time when technology was an impediment to a positive customer experience at your organization. Reflect on the following:
   • What frustrations did the application or the technology cause to your customers? What was their reaction?
   • How did IT (and the business) identify the challenge in the first place?
   • What steps were taken to mitigate the impact of the problem? Were these steps successful?
   • What were the key lessons learned as part of the challenge?

Fireside Chat, Part 2: What customer success stories has your organization created by using new technologies?

1.1.2 30 minutes

Input

• Past experiences of the team

Output

• Lessons learned

Materials

• Whiteboard
• Markers

Participants

• Core Team

Instructions

1. Think about a time when your organization successfully leveraged a new application or new technology to enhance the experience it provided to customers. Reflect on this experience and consider:
   • What were the organizational drivers for rolling out the new application or solution?
   • What obstacles had to be overcome in order to successfully deploy the solution?
   • How did the application positively impact the customer experience? What metrics improved?
   • What were the key lessons learned as part of the deployment? If you had to do it all over again, what would you do differently?

Develop a cohesive, consistent, and forward-looking roadmap that supports each stage of the customer lifecycle

When creating your roadmap, consider the pitfalls you’ll likely encounter in building the IT strategy to provide technology enablement for customer experience.

There’s no silver bullet for developing a strategy. You can encounter pitfalls at a myriad of different points including not involving the right stakeholders from the business, not staying abreast of recent trends in the external environment, and not aligning sales, marketing, and support initiatives with a focus on the delivery of value to prospects and customers.

Common Pitfalls When Creating a Technology-Enablement Strategy for CXM

Senior management is not involved in strategy development.

Not paying attention to the “art of the possible.”

“Paving the cow path” rather than focusing on revising core processes.

Misalignment between objectives and financial/personnel resources.

Inexperienced team on either the business or IT side.

Not paying attention to the actions of competitors.

Entrenched management preferences for legacy systems.

Sales culture that downplays the potential value of technology or new applications.

IT is only one or two degrees of separation from the end customer: so take a customer-centric approach

IT →Marketing, Sales, and Service →External Customers

Internal-Facing Applications

• IT enables, supports, and maintains the applications used by the organization to market to, sell to, and service customers. IT provides the infrastructural and technical foundation to operate the function.

Customer-Facing Applications

• IT supports customer-facing interfaces and channels for customer interaction.
• Channel examples include web pages, mobile device applications and optimization, and interactive voice response for callers.

Info-Tech Insight

IT often overlooks direct customer considerations when devising a technology strategy for CXM. Instead, IT leaders rely on other business stakeholders to simply pass on requirements. By sitting down with their counterparts in marketing and sales, and fully understanding business drivers and customer personas, IT will be much better positioned to roll out supporting applications that drive customer engagement.

A well-aligned CXM strategy recognizes a clear delineation of responsibilities between IT, sales, marketing, and service

• When thinking about CXM, IT must recognize that it is responsible for being a trusted partner for technology enablement. This means that IT has a duty to:
  • Develop an in-depth understanding of strategic business requirements for CXM. Base your understanding of these business requirements on a clear conception of the internal and external environment, customer personas, and business processes in marketing, sales, and customer service.
  • Assist with shortlisting and supporting different channels for customer interaction (including email, telephony, web presence, and social media).
  • Create a rationalized, cohesive application portfolio for CXM that blends different enabling technologies together to support strategic business requirements.
  • Provide support for vendor shortlisting, selection, and implementation of CXM applications.
  • Assist with end-user adoption of CXM applications (i.e. training and ongoing support).
  • Provide initiatives that assist with technical excellence for CXM (such as data quality, integration, analytics, and application maintenance).
• The business (marketing, sales, customer service) owns the business requirements and must be responsible for setting top-level objectives for customer interaction (e.g. product and pricing decisions, marketing collateral, territory management, etc.). IT should not take over decisions on customer experience strategy. However, IT should be working in lockstep with its counterparts in the business to assist with understanding business requirements through a customer-facing lens. For example, persona development is best done in cross-functional teams between IT and Marketing.

Activity: Identify the business drivers for CXM to establish the strategy’s guiding principles

1.1.3 30 minutes

Input

• Business drivers for CXM

Output

• Guiding principles for CXM strategy

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Define the assumptions and business drivers that have an impact on technology enablement for CXM. What is driving the current marketing, sales, and service strategy on the business side?

Activity: Identify the IT drivers for CXM to establish the strategy’s guiding principles

1.1.4 30 minutes

Input

• IT drivers for CXM

Output

• Guiding principles for CXM strategy

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Define the assumptions and IT drivers that have an impact on technology enablement for CXM. What is driving the current IT strategy for supporting marketing, sales, and service initiatives?

Activity: Use IT and business drivers to create guiding principles for your CXM technology-enablement project

1.1.5 30 minutes

Input

• Business drivers and IT drivers from 1.1.3 and 1.1.4

Output

• CXM mission statement

Materials

• Whiteboard
• Markers

Participants

• Core Team

Instructions

1. Based on the IT and business drivers identified, craft guiding principles for CXM technology enablement. Keep guiding principles in mind throughout the project and ensure they support (or reconcile) the business and IT drivers.

2. Summarize the guiding principles above by creating a CXM mission statement. See below for an example.

Example: CXM Mission Statement

To ensure our marketing, sales and service team is equipped with tools that will allow them to reach out to a large volume of contacts while still providing a solution-selling approach. This will be done with secure, on-premise systems to safeguard customer data.

Ensure that now is the right time to take a step back and develop the CXM strategy

Determine if now is the right time to move forward with building (or overhauling) your technology-enablement strategy for CXM.

Not all organizations will be able to proceed immediately to optimize their CXM technology enablement. Determine if the organizational willingness, backbone, and resources are present to commit to overhauling the existing strategy. If you’re not ready to proceed, consider waiting to begin this project until you can procure the right resources.

Do not proceed if:

• Your current strategy for supporting marketing, sales, and service is working well and IT is already viewed as a strategic partner by these groups. Your current strategy is well aligned with customer preferences.
• The current strategy is not working well, but there is no consensus or support from senior management for improving it.
• You cannot secure the resources or time to devote to thoroughly examining the current state and selecting improvement initiatives.
• The strategy has been approved, but there is no budget in place to support it at this time.

Proceed if:

• Senior management has agreed that technology support for CXM should be improved.
• Sub-divisions within IT, sales, marketing, and service are on the same page about the need to improve alignment.
• You have an approximate budget to work with for the project and believe you can secure additional funding to execute at least some improvement initiatives.
• You understand how improving CXM alignment will fit into the broader customer interaction ecosystem in your organization.

If you want additional support, have our analysts guide you through this phase as part of an Info-Tech workshop

Book a workshop with our Info-Tech analysts:

• To accelerate this project, engage your IT team in an Info-Tech workshop with an Info-Tech analyst team.
• Info-Tech analysts will join you and your team onsite at your location or welcome you to Info-Tech’s historic Toronto office to participate in an innovative onsite workshop.
• Contact your account manager (www.infotech.com/account), or email Workshops@InfoTech.com for more information.

The following are sample activities that will be conducted by Info-Tech analysts with your team:

1.1.3; 1.1.4; 1.1.5 - Identify business and IT drivers to create CXM guiding principles

The facilitator will work with stakeholders from both the business and IT to identify implicit or explicit strategic drivers that will support (or pose constraints on) the technology-enablement framework for the CXM strategy. In doing so, guiding principles will be established for the project.

Step 1.2: Structure the Project

Phase 1

1.1 Create the Project Vision

1.2 Structure the Project

Phase 2

2.1 Scan the External Environment

2.2 Assess the Current State of CXM

2.3 Create an Application Portfolio

2.4 Develop Deployment Best Practices

Phase 3

3.1 Create an Initiative Rollout Plan

3.2 Confirm and Finalize the CXM Blueprint

Activities:

• Define the project purpose, objectives, and business metrics
• Define the scope of the CXM strategy
• Create the project team
• Build a RACI chart
• Develop a timeline with project milestones
• Identify risks and create mitigation strategies
• Complete the strategy project charter and obtain approval

Outcomes:

CXM Strategy Project Charter Template

• Purpose, objectives, metrics
• Scope
• Project team & RACI
• Timeline
• Risks & mitigation strategies
• Project sponsorship

Use Info-Tech’s CXM Strategy Project Charter Template to outline critical components of the CXM project

1.2.1 CXM Strategy Project Charter Template

Having a project charter is the first step for any project: it specifies how the project will be resourced from a people, process, and technology perspective, and it clearly outlines major project milestones and timelines for strategy development. CXM technology enablement crosses many organizational boundaries, so a project charter is a very useful tool for ensuring everyone is on the same page.

Sections of the document:

1. Project Drivers, Rationale, and Context
2. Project Objectives, Metrics, and Purpose
3. Project Scope Definition
4. Project Team Roles and Responsibilities (RACI)
5. Project Timeline
6. Risk Mitigation Strategy
7. Project Metrics
8. Project Review & Approvals

INFO-TECH DELIVERABLE

CXM Strategy Project Charter Template

Populate the relevant sections of your project charter as you complete activities 1.2.2-1.2.8.

Understand the roles necessary to complete your CXM technology-enablement strategy

Understand the role of each player within your project structure. Look for listed participants on the activities slides to determine when each player should be involved.

Info-Tech Insight

Do not limit project input or participation to the aforementioned roles. Include subject matter experts and internal stakeholders at particular stages within the project. Such inputs can be solicited on a one-off basis as needed. This ensures you take a holistic approach to creating your CXM technology-enablement strategy.

Activity: Kick-off the CXM project by defining the project purpose, project objectives, and business metrics

1.2.2 30 minutes

Input

• Activities 1.1.1 to 1.1.5

Output

• Drivers & rationale
• Purpose statement
• Business goals
• Business metrics
• CXM Strategy Project Charter Template, sections 1.0, 2.0, and 2.1

Materials

• Whiteboard
• Markers

Participants

• Project Sponsor
• Project Manager
• Business Lead
• Steering Committee

Instructions

Hold a meeting with IT, Marketing, Sales, Service, Operations, and any other impacted business stakeholders that have input into CXM to accomplish the following:

1. Discuss the drivers and rationale behind embarking on a CXM strategy.
2. Develop and concede on objectives for the CXM project, metrics that will gauge its success, and goals for each metric.
3. Create a project purpose statement that is informed by decided-upon objectives and metrics from the steps above. When establishing a project purpose, ask the question, “what are we trying to accomplish?”

• Example: Project Purpose Statement
  • The organization is creating a CXM strategy to gather high-level requirements from the business, IT, and Marketing, Sales, and Service, to ensure that the selection and deployment of the CXM meets the needs of the broader organization and provides the greatest return on investment.

Info-Tech Insight

Going forward, set up a quarterly review process to understand changing needs. It is rare that organizations never change their marketing and sales strategy. This will change the way the CXM will be utilized.

Establish baseline metrics for customer engagement

In order to gauge the effectiveness of CXM technology enablement, establish core metrics:

1. Marketing Metrics: pertaining to share of voice, share of wallet, market share, lead generation, etc.
2. Sales Metrics: pertaining to overall revenue, average deal size, number of accounts, MCV, lead warmth, etc.
3. Customer Service Metrics: pertaining to call volumes, average time to resolution, first contact resolution, customer satisfaction, etc.
4. IT Metrics: pertaining to end-user satisfaction with CXM applications, number of tickets, contract value, etc.

Understand the importance of setting project expectations with a scope statement

Be sure to understand what is in scope for a CXM strategy project. Prevent too wide of a scope to avoid scope creep – for example, we aren’t tackling ERP or BI under CXM.

In Scope

Establishing the parameters of the project in a scope statement helps define expectations and provides a baseline for resource allocation and planning. Future decisions about the strategic direction of CXM will be based on the scope statement.

Scope Creep

Well-executed requirements gathering will help you avoid expanding project parameters, drawing on your resources, and contributing to cost overruns and project delays. Avoid scope creep by gathering high-level requirements that lead to the selection of category-level application solutions (e.g. CRM, MMS, SMMP, etc.), rather than granular requirements that would lead to vendor application selection (e.g. Salesforce, Marketo, Hootsuite, etc.).

Out of Scope

Out-of-scope items should also be defined to alleviate ambiguity, reduce assumptions, and further clarify expectations for stakeholders. Out-of-scope items can be placed in a backlog for later consideration. For example, fulfilment and logistics management is out of scope as it pertains to CXM.

Activity: Define the scope of the CXM strategy

1.2.3 30 minutes

Input

• N/A

Output

• Project scope and parameters
• CXM Strategy Project Charter Template, section 3.0

Materials

• Whiteboard
• Markers

Participants

• Project Sponsor
• Project Manager
• Business Lead

Instructions

1. Formulate a scope statement. Decide which people, processes, and functions the CXM strategy will address. Generally, the aim of this project is to develop strategic requirements for the CXM application portfolio – not to select individual vendors.
2. Document your scope statement in Info-Tech’s CXM Strategy Project Charter Template in section 3.0.

To form your scope statement, ask the following questions:

• What are the major coverage points?
• Who will be using the systems?
• How will different users interact with the systems?
• What are the objectives that need to be addressed?
• Where do we start?
• Where do we draw the line?

Identify the right stakeholders to include on your project team

Consider the core team functions when composing the project team. Form a cross-functional team (i.e. across IT, Marketing, Sales, Service, Operations) to create a well-aligned CXM strategy.

Info-Tech Insight

Don’t let your project team become too large when trying to include all relevant stakeholders. Carefully limiting the size of the project team will enable effective decision making while still including functional business units such as marketing, sales, service, and finance, as well as IT.

Activity: Create the project team

1.2.4 45 minutes

Input

• Scope Statement (output of Activity 1.2.3).

Output

• Project Team
• CXM Strategy Project Charter Template, section 4.0

Materials

• Whiteboard
• Markers

Participants

• Project Manager
• Business Lead

Instructions

1. Review your scope statement. Have a discussion to generate a complete list of key stakeholders that are needed to achieve the scope of work.
2. Using the previously generated list, identify a candidate for each role and determine their responsibilities and expected time commitment for the CXM strategy project.
3. Document the project team in Info-Tech’s CXM Strategy Project Charter Template in section 4.0.

Define project roles and responsibilities to improve progress tracking

Build a list of the core CXM strategy team members, and then structure a RACI chart with the relevant categories and roles for the overall project.

Responsible - Conducts work to achieve the task

Accountable - Answerable for completeness of task

Consulted - Provides input for the task

Informed - Receives updates on the task

Info-Tech Insight

Avoid missed tasks between inter-functional communications by defining roles and responsibilities for the project as early as possible.

Benefits of Assigning RACI Early:

• Improve project quality by assigning the right people to the right tasks.
• Improve chances of project task completion by assigning clear accountabilities.
• Improve project buy-in by ensuring that stakeholders are kept informed of project progress, risks, and successes.

Activity: Build a RACI chart

1.2.5 30 minutes

Input

• Project Team (output of Activity 1.2.4)

Output

• RACI chart
• CXM Strategy Project Charter Template, section 4.2

Materials

• Whiteboard
• Markers

Participants

• Project Manager
• Business Lead

Instructions

1. Identify the key stakeholder teams that should be involved in the CXM strategy project. You should have a cross-functional team that encompasses both IT (various units) and the business.
2. Determine whether each stakeholder should be responsible, accountable, consulted, and/or informed with respect to each overarching project step.
3. Confirm and communicate the results to relevant stakeholders and obtain their approval.
4. Document the RACI chart in Info-Tech’s CXM Strategy Project Charter Template in section 4.2.

Activity: Develop a timeline in order to specify concrete project milestones

1.2.6 30 minutes

Input

• N/A

Output

• Project timeline
• CXM Strategy Project Charter Template, section 5.0

Materials

• Whiteboard
• Markers

Participants

• Project Manager
• Business Lead

Instructions

1. Assign responsibilities, accountabilities, and other project involvement to each project team role using a RACI chart. Remember to consider dependencies when creating the schedule and identifying appropriate subtasks.
2. Document the timeline in Info-Tech’s CXM Strategy Project Charter Template in section 5.0.

Assess project-associated risk by understanding common barriers and enablers

Common Internal Risk Factors

Activity: Identify the risks and create mitigation strategies

1.2.7 45 minutes

Input

• N/A

Output

• Risk mitigation strategy
• CXM Strategy Project Charter Template, section 6.0

Materials

• Whiteboard
• Markers

Participants

• Project Manager
• Business Lead
• Project Team

Instructions

1. Brainstorm a list of possible risks that may impede the progress of your CXM project.
2. Classify risks as strategy based (related to planning) or systems based (related to technology).
3. Brainstorm mitigation strategies to overcome each risk.
4. On a scale of 1 to 3, determine the impact of each risk on project success and the likelihood of each risk occurring.
5. Document your findings in Info-Tech’s CXM Strategy Project Charter Template in section 6.0.

Likelihood:

1 - High/Needs Focus

2 - Can Be Mitigated

3 - Unlikely

Impact

1 - High Impact

2 - Moderate Impact

3 - Minimal Impact

Example: Risk Register and Mitigation Tactics

Activity: Complete the project charter and obtain approval

1.2.8 45 minutes

Input

• N/A

Output

• Project approval
• CXM Strategy Project Charter Template, section 8.0

Materials

• Whiteboard
• Markers

Participants

• Project Manager
• Business Lead
• Project Team

Instructions

Before beginning to develop the CXM strategy, validate the project charter and metrics with senior sponsors or stakeholders and receive their approval to proceed.

1. Schedule a 30-60 minute meeting with senior stakeholders and conduct a live review of your CXM strategy project charter.
2. Obtain stakeholder approval to ensure there are no miscommunications or misunderstandings around the scope of the work that needs to be done to reach a successful project outcome. Final sign-off should only take place when mutual consensus has been reached.
   • Obtaining approval should be an iterative process; if senior management has concerns over certain aspects of the plan, revise and review again.

Info-Tech Insight

In most circumstances, you should have your CXM strategy project charter validated with the following stakeholders:

• Chief Information Officer
• IT Applications Director
• CFO or Comptroller (for budget approval)
• Chief Marketing Office or Head of Marketing
• Chief Revenue Officer or VP of Sales
• VP Customer Service

If you want additional support, have our analysts guide you through this phase as part of an Info-Tech workshop

Book a workshop with our Info-Tech analysts:

1.2.2 Define project purpose, objectives, and business metrics

Through an in-depth discussion, an analyst will help you prioritize corporate objectives and organizational drivers to establish a distinct project purpose.

1.2.3 Define the scope of the CXM strategy

An analyst will facilitate a discussion to address critical questions to understand your distinct business needs. These questions include: What are the major coverage points? Who will be using the system?

1.2.4; 1.2.5; 1.2.6 Create the CXM project team, build a RACI chart, and establish a timeline

Our analysts will guide you through how to create a designated project team to ensure the success of your CXM strategy and suite selection initiative, including project milestones and team composition, as well as designated duties and responsibilities.

Phase 2

Create a Strategic Framework for CXM Technology Enablement

Build a Strong Technology Foundation for Customer Experience Management

Phase 2 outline: Steps 2.1 and 2.2

Call 1-888-670-8889 or email GuidedImplementations@InfoTech.com for more information.

Complete these steps on your own, or call us to complete a guided implementation. A guided implementation is a series of 2-3 advisory calls that help you execute each phase of a project. They are included in most advisory memberships.

Guided Implementation 2: Create a Strategic Framework for CXM Technology Enablement

Proposed Time to Completion: 4 weeks

Step 2.1: Scan the External Environment

Start with an analyst kick-off call:

• Discuss external drivers
• Assess competitive environment
• Review persona development
• Review scenarios

Then complete these activities…

• Build the CXM operating model
• Conduct a competitive analysis
• Conduct a PEST analysis
• Build personas and scenarios

With these tools & templates:

CXM Strategy Stakeholder Presentation Template

Step 2.2: Assess the Current State for CRM

Review findings with analyst:

• Review SWOT analysis
• Review VRIO analysis
• Discuss strategic requirements for CXM

Then complete these activities…

• Conduct a SWOT analysis
• Conduct a VRIO analysis
• Inventory existing applications

With these tools & templates:

CXM Strategy Stakeholder Presentation Template

Phase 2 outline: Steps 2.3 and 2.4

Call 1-888-670-8889 or email GuidedImplementations@InfoTech.com for more information.

Complete these steps on your own, or call us to complete a guided implementation. A guided implementation is a series of 2-3 advisory calls that help you execute each phase of a project. They are included in most advisory memberships.

Guided Implementation 2: Create a Strategic Framework for CXM Technology Enablement

Proposed Time to Completion: 4 weeks

Step 2.3: Create an Application Portfolio

Start with an analyst kick-off call:

• Discuss possible business process maps
• Discuss strategic requirements
• Review application portfolio results

Then complete these activities…

• Build business maps
• Execute application mapping

With these tools & templates:

CXM Portfolio Designer

CXM Strategy Stakeholder Presentation Template

CXM Business Process Shortlisting Tool

Step 2.4: Develop Deployment Best Practices

Review findings with analyst:

• Review possible integration maps
• Discuss best practices for end-user adoption
• Discuss best practices for customer data quality

Then complete these activities…

• Create CXM integration ecosystem
• Develop adoption game plan
• Create data quality standards

With these tools & templates:

CXM Strategy Stakeholder Presentation Template

Phase 2 Results & Insights:

• Application portfolio for CXM
• Deployment best practices for areas such as integration, data quality, and end-user adoption

Step 2.1: Scan the External Environment

Phase 1

1.1 Create the Project Vision

1.2 Structure the Project

Phase 2

2.1 Scan the External Environment

2.2 Assess the Current State of CXM

2.3 Create an Application Portfolio

2.4 Develop Deployment Best Practices

Phase 3

3.1 Create an Initiative Rollout Plan

3.2 Confirm and Finalize the CXM Blueprint

Activities:

• Inventory CXM drivers and organizational objectives
• Identify CXM challenges and pain points
• Discuss opportunities and benefits
• Align corporate and CXM strategies
• Conduct a competitive analysis
• Conduct a PEST analysis and extract strategic requirements
• Build customer personas and extract strategic requirements

Outcomes:

• CXM operating model
  • Organizational drivers
  • Environmental factors
  • Barriers
  • Enablers
• PEST analysis
• External customer personas
• Customer journey scenarios
• Strategic requirements for CXM

Develop a CXM technology operating model that takes stock of needs, drivers, barriers, and enablers

Establish the drivers, enablers, and barriers to developing a CXM technology enablement strategy. In doing so, consider needs, environmental factors, organizational drivers, and technology drivers as inputs.

CXM Strategy

• Barriers
  • Lack of Resources
  • Cultural Mindset
  • Resistance to Change
  • Poor End-User Adoption
• Enablers
  • Senior Management Support
  • Customer Data Quality
  • Current Technology Portfolio
• Business Needs (What are your business drivers? What are current marketing, sales, and customer service pains?)
  • Acquisition Pipeline Management
  • Live Chat for Support
  • Social Media Analytics
  • Etc.
• Organizational Goals
  • Increase Profitability
  • Enhance Customer Experience Consistency
  • Reduce Time-to-Resolution
  • Increase First Contact Resolution
  • Boost Share of Voice
• Environmental Factors (What factors that affect your strategy are out of your control?)
  • Customer Buying Habits
  • Changing Technology Trends
  • Competitive Landscape
  • Regulatory Requirements
• Technology Drivers (Why do you need a new system? What is the purpose for becoming an integrated organization?)
  • System Integration
  • Reporting Capabilities
  • Deployment Model

Understand your needs, drivers, and organizational objectives for creating a CXM strategy

Info-Tech Insight

A common organizational driver is to provide adequate technology enablement across multiple channels, resulting in a consistent customer experience. This driver is a result of external considerations. Many industries today are highly competitive and rapidly changing. To succeed under these pressures, you must have a rationalized portfolio of enterprise applications for customer interaction.

Activity: Inventory and discuss CXM drivers and organizational objectives

2.1.1 30 minutes

Input

• Business needs
• Exercise 1.1.3
• Exercise 1.1.4
• Environmental factors

Output

• CXM operating model inputs
• CXM Strategy Stakeholder Presentation

Materials

• Info-Tech examples
• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Brainstorm the business needs, organizational drivers, technology drivers, and environmental factors that will inform the CXM strategy. Draw from exercises 1.1.3-1.1.5.
2. Document your findings in the CXM operating model template. This can be found in the CXM Strategy Stakeholder Presentation Template.

Understand challenges and barriers to creating and executing the CXM technology-enablement strategy

Take stock of internal challenges and barriers to effective CXM strategy execution.

Example: Internal Challenges & Potential Barriers

Activity: Identify CXM challenges and pain points

2.1.2 30 minutes

Input

• Challenges
• Pain points

Output

• CXM operating model barriers
• CXM Strategy Stakeholder Presentation

Materials

• Info-Tech examples
• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Brainstorm the challenges and pain points that may act as barriers to the successful planning and execution of a CXM strategy.
2. Document your findings in the CXM operating model template. This can be found in the CXM Strategy Stakeholder Presentation Template.

Identify opportunities that can enable CXM strategy execution

Existing internal conditions, capabilities, and resources can create opportunities to enable the CXM strategy. These opportunities are critical to overcoming challenges and barriers.

Example: Opportunities to Leverage for Strategy Enablement

Activity: Discuss opportunities and benefits

2.1.3 30 minutes

Input

• Opportunities
• Benefits

Output

• Completed CXM operating model
• CXM Strategy Stakeholder Presentation

Materials

• Info-Tech examples
• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Brainstorm opportunities that should be leveraged or benefits that should be realized to enable the successful planning and execution of a CXM strategy.
2. Document your findings in the CXM operating model template. This can be found in the CXM Strategy Stakeholder Presentation Template.

Ensure that you align your CXM technology strategy to the broader corporate strategy

A successful CXM strategy requires a comprehensive understanding of an organization’s overall corporate strategy and its effects on the interrelated departments of marketing, sales, and service, including subsequent technology implications. For example, a CXM strategy that emphasizes tools for omnichannel management and is at odds with a corporate strategy that focuses on only one or two channels will fail.

Corporate Strategy

• Conveys the current state of the organization and the path it wants to take.
• Identifies future goals and business aspirations.
• Communicates the initiatives that are critical for getting the organization from its current state to the future state.

CXM Strategy

• Communicates the company’s budget and spending on CXM applications and initiatives.
• Identifies IT initiatives that will support the business and key CXM objectives, specific to marketing, sales, and service.
• Outlines staffing and resourcing for CXM initiatives.

Unified Strategy

• The CXM implementation can be linked, with metrics, to the corporate strategy and ultimate business objectives.

Info-Tech Insight

Your organization’s corporate strategy is especially important in dictating the direction of the CXM strategy. Corporate strategies are often focused on customer-facing activity and will heavily influence the direction of marketing, sales, customer service, and consequentially, CXM. Corporate strategies will often dictate market targeting, sales tactics, service models, and more.

Review sample organizational objectives to decipher how CXM technologies can support such objectives

Identifying organizational objectives of high priority will assist in breaking down CXM objectives to better align with the overall corporate strategy and achieve buy-in from key stakeholders.

Activity: Review your corporate strategy and validate its alignment with the CXM operating model

2.1.4 30 minutes

Input

• Corporate strategy
• CXM operating model (completed in Activity 2.1.3)

Output

• Strategic alignment between the business and CXM strategies

Materials

• Info-Tech examples
• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Brainstorm and create a list of organizational objectives at the corporate strategy level.
2. Break down each organizational objective to identify how CXM may support it.
3. Validate CXM goals and organizational objectives with your CXM operating model. Be sure to address the validity of each with the business needs, organizational drivers, technology drivers, and environmental factors identified as inputs to the operating model.

Amazon leverages customer data to drive decision making around targeted offers and customer experience

CASE STUDY

Industry E-Commerce

Source Pardot, 2012

Situation

Amazon.com, Inc. is an American electronic commerce and cloud computing company. It is the largest e-commerce retailer in the US.

Amazon originated as an online book store, later diversifying to sell various forms of media, software, games, electronics, apparel, furniture, food, toys, and more.

By taking a data-driven approach to marketing and sales, Amazon was able to understand its customers’ needs and wants, penetrate different product markets, and create a consistently personalized online-shopping customer experience that keeps customers coming back.

Technology Strategy

Use Browsing Data Effectively

Amazon leverages marketing automation suites to view recent activities of prospects on its website. In doing so, a more complete view of the customer is achieved, including insights into purchasing interests and site navigation behaviors.

Optimize Based on Interactions

Using customer intelligence, Amazon surveys and studies standard engagement metrics like open rate, click-through rate, and unsubscribes to ensure the optimal degree of marketing is being targeted to existing and prospective customers, depending on level of engagement.

Results

Insights gained from having a complete understanding of the customer (from basic demographic characteristics provided in customer account profiles to observed psychographic behaviors captured by customer intelligence applications) are used to personalize Amazon’s sales and marketing approaches. This is represented through targeted suggestions in the “recommended for you” section of the browsing experience and tailored email marketing.

It is this capability, partnered with the technological ability to observe and measure customer engagement, that allows Amazon to create individual customer experiences.

Scan the external environment to understand your customers, competitors, and macroenvironmental trends

Do not develop your CXM technology strategy in isolation. Work with Marketing to understand your STP strategy (segmentation, targeting, positioning): this will inform persona development and technology requirements downstream.

Market Segmentation

• Segment target market by demographic, geographic, psychographic, and behavioral characteristics
• What does the competitive market look like?
• Who are the key customer segments?
• What segments are you going to target?

Market Targeting

• Evaluate potential and commercial attractiveness of each segment, considering the dynamics of the competition
• How do you target your customers?
• How should you target them in the future?
• How do your products/services differ from the competition?

Product Positioning

• Develop detailed product positioning and marketing mixes for selected segments
• What is the value of the product/service to each segment of the market?
• How are you positioning your product/service in the market?

Info-Tech Insight

It is at this point that you should consider the need for and viability of an omnichannel approach to CXM. Through which channels do you target your customers? Are your customers present and active on a wide variety of channels? Consider how you can position your products, services, and brand through the use of omnichannel methodologies.

Activity: Conduct a competitive analysis to understand where your market is going

2.1.5 1 hour

Input

• Scan of competitive market
• Existing customer STP strategy

Output

• Strategic CXM requirements
• CXM Strategy Stakeholder Presentation

Materials

• Whiteboard
• Markers

Participants

• Project Team
• Marketing SME

Instructions

1. Scan the market for direct and indirect competitors.
2. Evaluate current and/or future segmentation, targeting, and positioning strategies by answering the following questions:

• What does the competitive market look like?
• Who are the key customer segments?
• What segments are you going to target?
• How do you target your customers?
• How should you target them in the future?
• How do your products/services differ from the competition?
• What is the value of the product/service to each segment of the market?
• How are you positioning your product/service in the market?
• Other helpful questions include:
  • How formally do you target customers? (e.g. through direct contact vs. through passive brand marketing)
  • Does your organization use the shotgun or rifle approach to marketing?
    • Shotgun marketing: targets a broad segment of people, indirectly
    • Rifle marketing: targets smaller and more niche market segments using customer intelligence

Activity: Conduct a competitive analysis (cont’d)

2.1.5 30 minutes

Input

• Scan of competitive market

Output

• Competitive analysis
• CXM Strategy Stakeholder Presentation

Materials

• Whiteboard
• Markers

Participants

• Project Team
• Marketing SME (e.g. Market Research Stakeholders)

Instructions

1. List recent marketing technology and customer experience-related initiatives that your closest competitors have implemented.
2. For each identified initiative, elaborate on what the competitive implications are for your organization.
3. Document your outputs in the CXM Strategy Stakeholder Presentation Template.

Example: Competitive Implications

Conduct a PEST analysis to determine salient political, economic, social, and technological impacts for CXM

A PEST analysis is a structured planning method that identifies external environmental factors that could influence the corporate and IT strategy.

Political - Examine political factors, such as relevant data protection laws and government regulations.

Economic - Examine economic factors, such as funding, cost of web access, and labor shortages for maintaining the site(s).

Technological - Examine technological factors, such as new channels, networks, software and software frameworks, database technologies, wireless capabilities, and availability of software as a service.

Social - Examine social factors, such as gender, race, age, income, and religion.

Info-Tech Insight

When looking at opportunities and threats, PEST analysis can help to ensure that you do not overlook external factors, such as technological changes in your industry. When conducting your PEST analysis specifically for CXM, pay particular attention to the rapid rate of change in the technology bucket. New channels and applications are constantly emerging and evolving, and seeing differential adoption by potential customers.

Activity: Conduct and review the PEST analysis

2.1.6 30 minutes

Input

• Political, economic, social, and technological factors related to CXM

Output

• Completed PEST analysis

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Identify your current strengths and weaknesses in managing the customer experience.
2. Identify any opportunities to take advantage of and threats to mitigate.

Example: PEST Analysis

Political

• Data privacy for PII
• ADA legislation for accessible design

Economic

• Spending via online increasing
• Focus on share of wallet

Technological

• Rise in mobile
• Geo-location based services
• Internet of Things
• Omnichannel

Social

• Increased spending power by millennials
• Changing channel preferences
• Self-service models

Activity: Translate your PEST analysis into a list of strategic CXM technology requirements to be addressed

2.1.7 30 minutes

Input

• PEST Analysis conducted in Activity 2.1.6.

Output

• Strategic CXM requirements
• CXM Strategy Stakeholder Presentation

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

For each PEST quadrant:

1. Document the point and relate it to a goal.
2. For each point, identify CXM requirements.
3. Sort goals and requirements to eliminate duplicates.
4. Document your outputs in the CXM Strategy Stakeholder Presentation Template.

Example: Parsing Requirements from PEST Analysis

Technological Trend: There has been a sharp increase in popularity of mobile self-service models for buying habits and customer service access.

Goal: Streamline mobile application to be compatible with all mobile devices. Create consistent branding across all service delivery applications (e.g. website, etc.).

Strategic Requirement: Develop a native mobile application while also ensuring that resources through our web presence are built with responsive design interface.

IT must fully understand the voice of the customer: work with Marketing to develop customer personas

Creating a customer-centric CXM technology strategy requires archetypal customer personas. Creating customer personas will enable you to talk concretely about them as consumers of your customer experience and allow you to build buyer scenarios around them.

A persona (or archetypal user) is an invented person that represents a type of user in a particular use-case scenario. In this case, personas can be based on real customers.

Activity: Build personas for your customers

2.1.8 2 hours

Input

• Customer demographics and psychographics

Output

• List of prioritized customer personas
• CXM Strategy Stakeholder Presentation

Materials

• Info-Tech examples
• Whiteboard
• Markers

Participants

Project Team

Instructions

1. In 2-4 groups, list all the customer personas that need to be built. In doing so, consider the people who interact with your organization most often.
2. Build a demographic profile for each customer persona. Include information such as age, geographic location, occupation, annual income, etc.
3. Augment the persona with a psychographic profile of each customer. Consider the goals and objectives of each customer persona and how these might inform buyer behaviors.
4. Introduce your group’s personas to the entire group, in a round-robin fashion, as if you are introducing your persona at a party.
5. Summarize the personas in a persona map. Rank your personas according to importance and remove any duplicates.

Info-Tech Insight

For CXM, persona building is typically used for understanding the external customer; however, if you need to gain a better understanding of the organization’s internal customers (those who will be interacting with CXM applications), personas can also be built for this purpose. Examples of useful internal personas are sales managers, brand managers, customer service directors, etc.

Sample Persona Templates

Fred, 40

The Family Man

Post-secondary educated, white-collar professional, three children

Goals & Objectives

• Maintain a stable secure lifestyle
• Progress his career
• Obtain a good future for his children

Behaviors

• Manages household and finances
• Stays actively involved in children’s activities and education
• Seeks potential career development
• Uses a cellphone and email frequently
• Sometimes follows friends Facebook pages

Services of Interest

• SFA, career counselling, job boards, day care, SHHS
• Access to information via in-person, phone, online

Traits

General Literacy - High

Digital Literacy - Mid-High

Detail-Oriented - High

Willing to Try New Things - Mid-High

Motivated and Persistent - Mid-High

Time Flexible - Mid-High

Familiar With [Red.] - Mid

Access to [Red.] Offices - High

Access to Internet - High

Ashley, 35

The Tourist

Single, college educated, planning vacation in [redacted], interested in [redacted] job opportunities

Goals & Objectives

• Relax after finishing a stressful job
• Have adventures and try new things
• Find a new job somewhere in Canada

Behaviors

• Collects information about things to do in [redacted]
• Collects information about life in [redacted]
• Investigates and follows up on potential job opportunities
• Uses multiple social media to keep in touch with friends
• Shops online frequently

Services of Interest

• SFA, job search, road conditions, ferry schedules, hospital, police station, DL requirements, vehicle rental
• Access to information via in-person, phone, website, SMS, email, social media

Traits

General Literacy - Mid

Digital Literacy - High

Detail-Oriented - Mid

Willing to Try New Things - High

Motivated and Persistent - Mid

Time Flexible - Mid-High

Familiar With [Red.] - Low

Access to [Red.] Offices - Low

Access to Internet - High

Bill, 25

The Single Parent

15-year resident of [redacted], high school education, waiter, recently divorced, two children

Goals & Objectives

• Improve his career options so he can support his family
• Find an affordable place to live
• Be a good parent
• Work through remaining divorce issues

Behaviors

• Tries to get training or experience to improve his career
• Stays actively involved in his children’s activities
• Looks for resources and supports to resolve divorce issues
• Has a cellphone and uses the internet occasionally

Services of Interest

• Child care, housing authority, legal aid, parenting resources
• Access to information via in person, word-of mouth, online, phone, email

Traits

General Literacy - Mid

Digital Literacy - Mid-Low

Detail-Oriented - Mid-Low

Willing to Try New Things - Mid

Motivated and Persistent - High

Time Flexible - Mid

Familiar With [Red.] - Mid-High

Access to [Red.] Offices - High

Access to Internet - High

Marie, 19

The Regional Youth

Single, [redacted] resident, high school graduate

Goals & Objectives

• Get a good job
• Maintain ties to family and community

Behaviors

• Looking for work
• Gathering information about long-term career choices
• Trying to get the training or experience that can help her develop a career
• Staying with her parents until she can get established
• Has a new cellphone and is learning how to use it
• Plays videogames and uses the internet at least weekly

Services of Interest

• Job search, career counselling
• Access to information via in-person, online, phone, email, web applications

Traits

General Literacy - Mid

Digital Literacy - Mid

Detail-Oriented - Mid-Low

Willing to Try New Things - Mid-High

Motivated and Persistent - Mid-Low

Time Flexible - High

Familiar With [Red.] - Mid-Low

Access to [Red.] Offices - Mid-Low

Access to Internet - Mid

Build key scenarios for each persona to extract strategic requirements for your CXM application portfolio

A scenario is a story or narrative that helps explore the set of interactions that a customer has with an organization. Scenario mapping will help parse requirements used to design the CXM application portfolio.

A Good Scenario…

• Describes specific task(s) that need to be accomplished
• Describes user goals and motivations
• Describes interactions with a compelling but not overwhelming amount of detail
• Can be rough, as long as it provokes ideas and discussion

Scenarios Are Used To…

• Provide a shared understanding about what a user might want to do, and how they might want to do it
• Help construct the sequence of events that are necessary to address in your user interface(s)

To Create Good Scenarios…

• Keep scenarios high level, not granular in nature
• Identify as many scenarios as possible. If you’re time constrained, try to develop 2-3 key scenarios per persona
• Sketch each scenario out so that stakeholders understand the goal of the scenario

Activity: Build scenarios for each persona and extract strategic requirements for the CXM strategy

2.1.9 1.5 hours

Input

• Customer personas (output of Activity 2.1.5)

Output

• CX scenario maps
• Strategic CXM requirements
• CXM Strategy Stakeholder Presentation

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. For each customer persona created in Activity 2.1.5, build a scenario. Choose and differentiate scenarios based on the customer goal of each scenario (e.g. make online purchase, seek customer support, etc.).
2. Think through the narrative of how a customer interacts with your organization, at all points throughout the scenario. List each step in the interaction in a sequential order to form a scenario journey.
3. Examine each step in the scenario and brainstorm strategic requirements that will be needed to support the customer’s use of technology throughout the scenario.
4. Repeat steps 1-3 for each persona. Document your outputs in the CXM Strategy Stakeholder Presentation Template.

Example: Scenario Map

Persona Name: Brand Loyal Linda

Scenario Goal: File a complaint about in-store customer service

Look up “[Store Name] customer service” on public web. →Reach customer support landing page. →Receive proactive notification prompt for online chat with CSR. →Initiate conversation: provide order #. →CSR receives order context and information. →Customer articulates problem, CSR consults knowledgebase. →Discount on next purchase offered. →Send email with discount code to Brand Loyal Linda.

If you want additional support, have our analysts guide you through this phase as part of an Info-Tech workshop

Book a workshop with our Info-Tech analysts:

• To accelerate this project, engage your IT team in an Info-Tech workshop with an Info-Tech analyst team.
• Info-Tech analysts will join you and your team onsite at your location or welcome you to Info-Tech’s historic Toronto office to participate in an innovative onsite workshop.
• Contact your account manager (www.infotech.com/account), or email Workshops@InfoTech.com for more information.

The following are sample activities that will be conducted by Info-Tech analysts with your team:

2.1.1; 2.1.2; 2.1.3; 2.1.4 - Create a CXM operating model

An analyst will facilitate a discussion to identify what impacts your CXM strategy and how to align it to your corporate strategy. The discussion will take different perspectives into consideration and look at organizational drivers, external environmental factors, as well as internal barriers and enablers.

2.1.5 Conduct a competitive analysis

Calling on their depth of expertise in working with a broad spectrum of organizations, our facilitator will help you work through a structured, systematic evaluation of competitors’ actions when it comes to CXM.

If you want additional support, have our analysts guide you through this phase as part of an Info-Tech workshop

Book a workshop with our Info-Tech analysts:

2.1.6; 2.1.7 - Conduct a PEST analysis

The facilitator will use guided conversation to target each quadrant of the PEST analysis and help your organization fully enumerate political, economic, social, and technological trends that will influence your CXM strategy. Our analysts are deeply familiar with macroenvironmental trends and can provide expert advice in identifying areas of concern in the PEST and drawing strategic requirements as implications.

2.1.8; 2.1.9 - Build customer personas and subsequent persona scenarios

Drawing on the preceding exercises as inputs, the facilitator will help the team create and refine personas, create respective customer interaction scenarios, and parse strategic requirements to support your technology portfolio for CXM.

Step 2.2: Assess the Current State of CXM

Phase 1

1.1 Create the Project Vision

1.2 Structure the Project

Phase 2

2.1 Scan the External Environment

2.2 Assess the Current State of CXM

2.3 Create an Application Portfolio

2.4 Develop Deployment Best Practices

Phase 3

3.1 Create an Initiative Rollout Plan

3.2 Confirm and Finalize the CXM Blueprint

Activities:

• Conduct a SWOT analysis and extract strategic requirements
• Inventory existing CXM applications and assess end-user usage and satisfaction
• Conduct a VRIO analysis and extract strategic requirements

Outcomes:

• SWOT analysis
• VRIO analysis
• Current state application portfolio
• Strategic requirements

Conduct a SWOT analysis to prepare for creating your CXM strategy

A SWOT analysis is a structured planning method that evaluates the strengths, weaknesses, opportunities, and threats involved in a project.

Strengths - Strengths describe the positive attributes that are within your control and internal to your organization (i.e. what do you do better than anyone else?)

Weaknesses - Weaknesses are internal aspects of your business that place you at a competitive disadvantage; think of what you need to enhance to compete with your top competitor.

Opportunities - Opportunities are external factors the project can capitalize on. Think of them as factors that represent reasons your business is likely to prosper.

Threats - Threats are external factors that could jeopardize the project. While you may not have control over these, you will benefit from having contingency plans to address them if they occur.

Info-Tech Insight

When evaluating weaknesses of your current CXM strategy, ensure that you’re taking into account not just existing applications and business processes, but also potential deficits in your organization’s channel strategy and go-to-market messaging.

Activity: Conduct a SWOT analysis

2.2.1 30 minutes

Input

• CXM strengths, weaknesses, opportunities, and threats

Output

• Completed SWOT analysis

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

1. Identify your current strengths and weaknesses in managing the customer experience. Consider marketing, sales, and customer service aspects of the CX.
2. Identify any opportunities to take advantage of and threats to mitigate.

Example: SWOT Analysis

Strengths

• Strong customer service model via telephony

Weaknesses

• Customer service inaccessible in real-time through website or mobile application

Opportunities

• Leverage customer intelligence to measure ongoing customer satisfaction

Threats

• Lack of understanding of customer interaction platforms by staff could hinder adoption

Activity: Translate your SWOT analysis into a list of requirements to be addressed

2.2.2 30 minutes

Input

• SWOT Analysis conducted in Activity 2.2.1.

Output

• Strategic CXM requirements
• CXM Stakeholder Presentation Template

Materials

• Whiteboard
• Markers

Participants

• Project Team

Instructions

For each SWOT quadrant:

1. Document the point and relate it to a goal.
2. For each point, identify CXM requirements.
3. Sort goals and requirements to eliminate duplicates.
4. Document your outputs in the CXM Stakeholder Presentation Template.

Example: Parsing Requirements from SWOT Analysis