Go-to-Market Strategy: An Introduction for B2B Tech and Professional Services

In B2B professional services and technology, simply having a great product or service isn't enough. You need a solid strategy to get people to buy. This is where a go-to-market (GTM) strategy comes into play.

A GTM strategy is a series of integrated choices that set your company up to win. Companies can have multiple GTM strategies, depending on their size and complexity. Companies with multiple service offerings that appeal to different customers might use multiple GTM strategies. Companies that are smaller and simpler might only have one GTM strategy that works for the entire company.

GTM strategies are typically created for new products or services, but they should also be considered for existing ones if you don’t already have one in place. They should also be reevaluated and updated on a consistent basis as markets and buying preferences change.

Why is a GTM Strategy Crucial for B2B Professional Services and Technology?

• Complex Sales Cycles: B2B sales, especially in professional services and technology, often involve multiple stakeholders and longer decision-making processes. A well-defined GTM strategy helps you navigate these complexities and effectively guide prospects through the sales funnel.

• Competitive Landscape: These markets are often saturated. A strong GTM strategy helps you differentiate your offering, position yourself effectively, and capture market share.

• Rapid Technological Advancements: The technology landscape is constantly evolving. A flexible GTM strategy allows you to adapt to new trends, emerging technologies, and changing customer needs.

• Measurable Results: A well-defined GTM strategy includes clear metrics and KPIs, enabling you to track progress, measure success, and make data-driven adjustments.

Steps to Developing Your GTM Strategy:

1. Market Research: Conduct thorough research to understand your target market, competitive landscape, and industry trends.

2. Define Your Ideal Customer Profile (ICP): Know who you want to be doing business with and who you should target.

3. Craft Your Unique Customer Buying Proposition: Clearly articulate why your customers want to buy specifically from you.

4. Choose Your Channels: Select the most effective marketing and sales channels to reach your target audience.

5. Determine Pricing and Packaging: Develop a pricing strategy that aligns with your value proposition and target market.

6. Outline Delivery and Support: Define your service delivery process, customer onboarding, and support strategies.

7. Set Measurable Goals: Establish clear metrics and KPIs to track your progress and measure the success of your GTM strategy.

Invest time in creating holistic, integrated, and complete GTM strategies. No component of the GTM strategy should be built in a vacuum. It’s advisable to have an internal GTM strategy owner who is responsible for bringing together the right teams and guiding the creation and execution of the strategy. Oftentimes, it’s also helpful to have an outside perspective to bring additional insight and depth to your GTM strategy and to help you avoid potential pitfalls that you may not see since you’re close to the work.