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.

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