How do you build a go-to-market strategy? What do you need to consider first?

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SVP SALES MARKETING AND OPERATIONS in Finance (non-banking)a year ago

There was a lot of hit-and-miss originally because when we started Rapid in 2003, it was a bootstrapped organization that had to get by with very minimal resources. In fact, we were doing remote selling before anybody knew what remote selling was. I had to teach people how to use GotoMeeting, Webex, etc... Our go-to-market strategy was going to be to cover the entire country, and running virtual meetings was the only way to scale that. Now we have refined all that and have grown from a startup.

We are also incorporating new products into our GTM strategy which is Earned Wage Access. This new product is how we improve hiring and retaining talent. It allows people in a down economy or in a good economy to do the most economical method available to them to access wages that they've already earned and not have to wait until payday.

It has also been important for us to recognize what product produces revenue the quickest. The middle market is the only one that is actually fastened to revenue so it should be our main focus. We also have subgroups that focus on SMB, enterprise, and technical integration.

Founder in Mediaa year ago

The first question I would make sure I've answered is: Am I building a PLG/inbound motion, a sales-led motion or do I think I have the capacity of a blend motion? Once I've done that I would get extremely clear about my ICP. Not my TAM, not the folks who we *could* sell to, but the exact persona(s) that are most likely to buy now, at the best price point and review. Once you understand your motion & your ICP, I would get extremely clear about your messaging as it relates to a buyer-centric value prop. Once you have those 3 elements down, you've created a strong foundation to build and iterate from!

VP of Sales in Educationa year ago

Start with an understanding of the Challenge you are product solves. Then build out the Ideal Customer Profile (ICP) for your product. Once you've done that you should figure out how that ICP buys. You can do that via research or by trying to sell to them directly. This will take a lot of time in the early stages (could take months).

Hopefully, you figure out what works. Your role is then to document and build a process to help scale it and adapt/iterate it all the time.

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VP of Sales in Softwarea year ago

Agree on both above with ICP identification. Many companies struggle here as you want to service everyone but hard to build scalability with such a wide focus.

Look at your current customers and understand the who, the why, the where in org bought from you and what impact your solution provided.

Once you have a clear understanding of the above, now focus on companies that look similar and have propensity to buy and compelling reason for them to buy now and build sales process and messaging based on how these companies buy.