Build a Sustainable and Repeatable Sales Revenue Machine with Proven Methodologies
Today’s market is fiercely competitive, and standing out requires more than just entering the fray—it demands a strategic approach to sustaining and growing. A key component is the Sales go-to-market (GTM) plan, which positions ‘sales’ as the driving force behind success. Let’s delve into how a solid GTM strategy can help you build a powerful and reliable sales engine.
What is a Sales Go-to-Market (Sales GTM) Strategy?
A sales go-to-market strategy is essentially a master plan for companies launching a product or breaking into a new market. It serves as a detailed roadmap that:
- Maps out the path to effectively reach your customer base.
- Aligns product messaging with customer expectations.
- Harmonizes efforts across sales, marketing, and product development teams.
- Solidifies market presence and drives sustainable sales revenue.
- Adapts to market changes and consumer feedback through a proven methodological approach.
Creating a sustainable sales revenue machine requires a GTM strategy that’s both strong and flexible. This strategy becomes the foundation of your market success and a consistent driver of your revenue.
- For start-ups and scale-ups, a robust sales GTM strategy is crucial for making an impact in a crowded market.
- For established enterprises, launching new products means crafting a fresh GTM playbook.
- Across all organizations, it acts as a blueprint and a safeguard against market volatility, paving the way for operational excellence and revenue optimization.
| “Creating a sustainable sales revenue machine requires a GTM strategy that’s both strong and flexible. This strategy becomes the foundation of your market success and a consistent driver of your revenue.“ |
Who Needs a Go-to-Market Strategy?
- Start-ups and New Ventures: A sales GTM strategy is essential for aligning various teams (Sales, Marketing, Sales Operations, Solution Architecture, etc.) towards revenue generation.
- Established Businesses with New Products: It guides them to the right audience, ensuring effective market entry.
Go-to-Market Strategy Benefits
Embarking on a GTM journey offers numerous long-term benefits:
- Increased Revenue
- When executed well, GTM strategies become the rainmakers, turning opportunities into revenue growth.
- They leverage targeted insights and data analytics to convert prospects into profits, creating replicable and scalable sales methodologies.
- Improved Brand Recognition
- A GTM strategy enhances brand visibility across multiple channels, making your brand a beacon for customers.
- It fosters a relatable brand persona, building trust and loyalty.
- Effective sales and marketing tactics ensure your brand stands out, reaching not just ears but hearts.
- Reduced Costs
- A GTM strategy minimizes trial-and-error costs, ensuring resources are used efficiently.
- It fine-tunes processes to guarantee every investment promises returns, focusing on growth.
- Increased Efficiency
- GTM-driven sales processes work like a well-oiled machine, converting interactions into transactions smoothly.
- Automation tools, integral to GTM plans, free up the sales force to focus on value-added activities.
- Improved Customer Relationships
- Personalizing customer engagement is at the core of GTM plans, turning clients into long-term partners.
- CRM systems track customer history, preferences, and feedback, refining every future interaction.
- Competitive Edge
- GTM planning sharpens your unique selling propositions (USPs), giving you an edge over competitors.
- It aligns your product’s value proposition with customer needs, securing your market position.
Go-to-Market Plan Methodologies
Use the P.L.A.N.S. Methodology:
What is the P.L.A.N.S Methodology, and What Are the Benefits?
The P.L.A.N.S methodology powers how you run your business, helping you define goals and execute them with a principled approach while driving continuous evolution.
P.L.A.N.S stands for:
- P – Purpose
- L – Leadership Principles
- A – Approach
- N – Needs
- S – Success Metrics
This is a living and breathing document and will become the heartbeat of your Sales GTM plan. What I like about the P.L.A.N.S methodology is that it encourages creativity, change, and empowerment. Different team members can lead different methods and update the plan as the year progresses.
Organizations that don’t adapt face challenges in the long run, and outdated tools don’t inspire continuous change. This framework fosters meaningful dialogue and informs critical thinking and decision-making throughout the year.
The goal is for leaders to draft a high-level version and for business units and individuals to create their own aligned versions. Employees engage in ongoing conversations with their managers about their priorities and how these impact overall goals.
For this task, it’s expected that the Founder or Sales Leader drafts their P.L.A.N.S, and the sales go-to-market team creates individual versions aligning with the Founder’s or Sales Leader’s plan.
The P.L.A.N.S Framework
Purpose:
- Define what you want to achieve and by when.
- Be specific (quantitative, like sales revenue) or broad (qualitative, like strategic goals).
- Remember, your vision statement here relates to your Sales GTM function, not your entire organization.
Leadership Principles:
- Ask yourself, “What’s important to me about this goal? What are the morals and values supporting this purpose?”
- After making a list of values, rank them in order of importance. If everything is a priority, nothing is.
Approach:
- Determine how to achieve your sales GTM purpose and values.
- Use the 6 P’s (People, Process, Product, Productivity, Partners, Pricing) or the PPS (People, Process, Systems) approach.
People:
- Hire individuals with a growth mindset and high EQ. During interviews, look for signs of good character, as you can always train them on skills.
- Build a culture of learning and encourage coaching and mentoring among senior and junior sales reps.
- Understand their individual stories, goals, their WHY/Purpose, and how sales as a profession is linked to their WHY/Purpose. Help them define it if needed. Always remember, “Rules without relationships create resistance and rebellion.”
Process:
- Define the practical steps to achieve your Purpose.
- Key components include:
- Culture of learning: Create an environment where learning is valued. Hold each person accountable to their learning goals, whether personal or sales-related.
- Sales methodology: Integral to your sales playbook. Build mastery across 1 or 2 methodologies.
- Realistic targets: Set ambitious yet realistic targets. Share the science behind achieving these targets.
- Quarterly surveys: Regularly elicit feedback from your reps to stay informed and make necessary enhancements.
- Ecosystem alignment: Success requires a team effort that spans beyond the sales rep, including all the roles outlined below.
Systems:
- Leverage sales and marketing tools to create efficiencies. The right tool, used effectively, delivers exceptional time savings and results that manual processes cannot achieve.
Needs:
- Highlight obstacles that hinder achieving your purpose.
- Focus on the brutal facts and the reality of the challenges you face.
- Ask yourself:
- What roadblocks do you need to overcome?
- What is preventing you from achieving your goals now?
- Which of these is the most challenging and needs to be resolved now?
- Prioritize these challenges and start working on solutions.
- Assign tasks with deadlines (who, by when).
Success Metrics:
- Focus obsessively on measuring progress towards your vision.
- Data and metrics of success are fundamental and critical at this stage.
- This is what a completed P.L.A.N.S document could look like, based on a fictitious organization.
In Summary
The P.L.A.N.S framework:
- Powers the way you run your business.
- Allows you to define your goals and organize a principled way to execute them.
- Considers your constant drive to evolve.
This is what a completed P.L.A.N.S document could look like, based on a fictitious organization.
In conclusion, a GTM strategy is vital for businesses of all sizes. Whether you’re a start-up or a seasoned organization, a GTM plan steers your company through the calm and stormy seas of the business world, ensuring steady growth and success.