Launching a new product or expanding in a new region requires significant research and investment. No matter how innovative your product is, its success may depend on how you market and sell it. Developing a go-to-market (GTM) plan ensures that you avoid costly mistakes, such as selling your product to the incorrect audience or in a market that’s already saturated with comparable offers.
You must develop a deliberate, practical, and effective go-to-market strategy, but the process can be difficult to traverse. Here’s a checklist you can follow to build a killer GTM strategy.
1. Define Your Ideal Customer Profile (ICP) And Buyer Personas
When you ask marketing or sales professionals to characterize their customers, they will tell you about their pain points. Understanding someone’s pain points, however, does not provide the entire picture. You need to define and document your buyer personas and ideal customer profile (ICP).
Simply put, “A B2B buyer persona is a key description of your target business and customer that includes all information from demographics to their needs, goals, and even the products they use.” Here’s an article to help create a buyer persona for your business.
An ideal customer profile (ICP), also known as an ideal buyer profile, specifies the ideal client for the problem that your company addresses. This is an imaginary account with all of the characteristics that would make it the ideal fit for the solutions you offer.
Businesses with a strong ICP which is similar to a buyer persona achieve 68% higher account win rates.
It’s important to keep in mind that having too many B2B business personas might be detrimental to your sales team’s ability to focus on a single pitch and clear goals. Analyze your audience, their requirements, and what they anticipate from you, and create a buyer persona that exactly matches what your current and prospective consumers desire.
2. B2B Data
B2B data has become the backbone of many sales and marketing activities. What was previously a broad, untargeted GTM campaign based on an educated guess can now be built on data-based facts and targeted at specific audiences.
Email addresses and contact numbers will only help you to reach the decision-maker(s). However, if you want to use data for creating a GTM strategy, you need comprehensive b2b data. Make sure you have:
- Complete and Up-to-Date Data
Incomplete or outdated data often works as a silent revenue killer. Data enrichment is the solution to solve data incompleteness. Data enrichment is the process of converting incomplete or inaccurate data into complete and up-to-date data. An example of this would be the ability to add an email address to a record where you only had a name and title.
- Buyer Intent Data
Knowing the buyer’s buying intent will help you choose the right set of prospects to focus on. Buyer intent data helps you identify ready-to-buy prospects that are actively in the market for relevant solutions
- Firmographic Data
Firmographic data works as an initial filter for your firmographic segmentation. It gives you important data points like company size, industry, revenue, location(s), and more.
- Technographic Data
Narrowing your segmentation further, technographic data helps you understand the tools and technologies used by companies. This enables you to identify accounts that use technologies that your product already integrates with or even target companies that use a competitor with a compelling campaign to encourage them to switch to your solution.
3. Customer Segmentation
Customer segmentation is the practice of categorizing your consumers based on common characteristics such as demographics or behaviors to sell to them more effectively.
There are several options for segmenting accounts to target for marketing campaigns or sales activity. So, how can you simplify, sharpen, and increase the effectiveness of segmenting? Data is the answer.
To segment your customers into relevant groups, you will need to figure out your customers’ demographics, firmographics, technographics, their goals, challenges, and what their first necessity is.
Firmographic segmentation is the grouping of B2B customers based on company characteristics. Considering technographic data while segmenting your audience will help you target more precisely based on the technology or tools they use. Firmographics and technographics segmentation can give you a clearer picture of who you should target and how.
4. Buying Center
The first step in preparing your product for your market is identifying your buying center and personas. Gartner estimates that the average buying group for a complex B2B solution includes six to ten decision-makers. This group of people is referred to as the “buying center.”
Each of the purchasers often fulfills one of the responsibilities listed below.
- Decision Maker
These roles differ according to the product, industry, and sector to which you are marketing. Gather your team and brainstorm what job titles make up the buying center for your prospective customers.
5. Understand Your Customers’ Buyer Journey
Understand the journey a potential customer will take, both from the buyer’s and your company’s perspectives.
Here is a typical buyer’s journey:
- The customer discovers they have a business problem and does research on the subject.
- The customer identifies viable solutions.
- The list of solutions is narrowed down to a shortlist, and the customer meets with the vendors on that list.
- The customer compares features, pricing, and other factors to reach a final decision.
The B2B buyer’s journey is more self-guided and digital than ever. To be successful, marketers must discover their in-market consumers early in their buying journey by initiating sales dialogues and staying ahead of the competition. When creating a GTM strategy, identifying new clients to target can be difficult. This is where understanding the buyer’s journey becomes essential for delivering the right messaging to the right audience.
There are three primary stages of a buyer’s journey:
- Decision/ Purchase
Here’s an image that shows the approach that you should take in each stage of the buyer’s journey.
Execute Your GTM Strategy Using SalesIntel
A successful GTM approach requires the precise collection of multiple data points, which necessitates the use of a platform that can give correct data. SalesIntel delivers 95% accurate human-verified contacts, allowing you to create company and contact lists in only a few minutes.
Contact information is a core component of a sales intelligence tool.
With SalesIntel you get the most up-to-date B2B contact data, from direct dialing to verified email addresses, to connect with buyers when it counts. You can save hours by searching contacts using job roles, career experience, education, and social media profile links.
You can also perform a quick company search by name or by domain.
You can save your searches for future reference or simply export the filtered data in your CRM or email marketing tool.
Data sits at the center of every business. Businesses must be able to feel confident in their data to ultimately act upon it — this means the data needs to be thorough, trustworthy, accurate, and up-to-date.
SalesIntel enables you to integrate disparate data pieces and complete your prospecting lists. You can find missing contact information such as the email addresses of your target personas from an existing list of contact records or track and find information of your anonymous website visitors. SalesIntel will also provide you with the crucial missing and/or additional data such as demographics, firmographics, phone numbers, buyer intent data, and technographic data.
Benefits of Data Enrichment
Here are some of the benefits of data enrichment that make your prospecting more accurate and faster.
Get Advanced-Level B2B Data: Either manually enrich your data with focused, specified enrichment jobs or automatically enrich your whole database on a regular basis.
More Submission of a Form with Fewer Fields: Ask for as little as an email address in your forms, and we’ll assist you to fill in the blanks so you receive more form submissions with fewer fields.
Including data enrichment into your tech stack and mastering data-driven features like lead scoring, segmentation, and personalization is truly a game changer. With SalesIntel, you can easily enrich the data to ensure data completeness and accuracy and take action from this data confidently.
Create Hyper-focused Segmentation
Using firmographic and technographic data allows you to better target and reach out to customers. It makes perfect logic – the more information you have about your target market, the better decisions you can make while segmenting qualified prospects.
SalesIntel delivers “must-have” data filters used by B2B marketers to construct a focused group based on firmographic and technographic data. Here are some of the filters offered, along with tips on how to utilize them effectively:
Industry segmentation helps you personalize your messaging based on the types of companies you’re targeting.
Additionally, industry data helps you to understand the potential business opportunities of that specific industry. To help you get a wider view of all the industry data and then go specific, SalesIntel offers a wide spectrum of industries for you to choose from.
Looking at revenue is vital since you want to market to organizations that can afford what you’re selling rather than wasting advertising dollars on prospects who can’t.
Location is a straightforward filter that can help with sales assignments as well as prioritization.
For example, an edtech firm may target cities or areas with a high concentration of universities and/or educational institutions. Alternatively, a firm attending an exhibition in another city may run online advertisements throughout the event.
The number of employees in a firm is important since different-sized organizations will respond differently to your marketing and promotional efforts. Employee size is also often an easy proxy for understanding the complexity of the prospects’ needs.
The term ‘technographics’ refers to the data about existing tools and technology used by your potential accounts.
You may get a more accurate picture of the Total Addressable Market (TAM) by including technographic data into account profiling processes.
By customizing your message specific to how your solution can gel with your prospects’ existing tools or technology, you increase the probability of receiving a positive response from them.
Identify Ready-to-buy Leads in the New Market
SalesIntel’s Intent Data kicks off the process of finding ready-to-buy prospects in the decision stage. Buyer Intent Data data enables you to identify prospects who are actively engaged in a purchasing decision based on the sort of material they consume.
The SalesIntel site displays Intent data as seen below.
In our B2B data platform, SalesIntel has streamlined the search for intent data. You can quickly obtain the necessary data to improve lead creation.
SalesIntel aims to provide the data and insights to help you develop a data-driven, full-proof GTM strategy. This can be achieved best when you can confidently rely on the data (and you aren’t wasting time chasing after missing pieces).
Request a customized demo to see how everything fits together. Go-To-Market