9 Steps of Successful go to marketing strategies
- Identification of buying centre and Personas
- Craft a Value-Matrix to help identify Messaging
- Test your messaging
- Optimize your ads before implementing on wider scale
- Build brand awareness and demand generation with inbound or outbound methods
- Find ways to optimize your pipelines and increase conversion rates
- Analyze and shorten the sales cycle
- Reduce customer acquisition cost
- Strategize ways to tap the existing customer base
#1 Identify buying centre and personas:
You have to consider your customers while preparing and marketing your products.
The typical buying group for a complex B2B or B2C solutions involves approximately six to ten decision makers. These are called “buying centre”.
Each of these buyers will fill one of the following roles such as:
- Initiator: shows initial interest or start the buying process.
- User: uses your products or services regularly.
- Influencer: convinces other target audiences that the product is needed.
- Decision maker: gives a nod to the purchase of products.
- Buyer: owns and prepares the budget.
- Approver: pushes the initiative of product launch on a large scale.
- Gatekeeper: acts as a blocker for getting product implemented.
These roles vary as per the products, industries, and verticals you are selling. It is necessary to research each role and know about their pain points to get a general sense of what they do and what are your goals.
It is critical to learn what motivates these people, who they are, and what are their problems, as they are the people who will put your products on the map.
#2 Craft a value matrix to help identify messaging:
It is time to map out your value matrix and start mapping your buying centre personas.
The value matrix understands the business problems and it is the breakdown of each buying centre personas. It will include the relevant marketing message that ties the problem and solution together.
One needs to create a chart with each persona in one column that list the pain points that they face on a daily basis. If they can solve the problems or ease them, include them in the rows below.
The message is to tackle the pain points in a meaningful way. It is best to agitate the pain points. People generally tend to take a painkiller to cure headaches but does not take daily vitamins to prevent the problems. Similarly, the product value should solve the pain.
Let’s look at the example of complete value matrix:
#3 Test your messaging:
It is the time to test the messaging, once your value matrix is in place. Using the message, you have created for audiences start advertising on marketing platforms.
You can test the channel you advertise on, the audiences you are targeting, and the message you share.
One needs to consider where your audience is. It may be on the paid digital channels such as Google ads, Facebook, Twitter. Continue advertising on these channels and test them to show high conversion.
#4 Optimize your ads before implementing on wider scale:
The next step is to optimize the audience. Some ad platforms have highly targeted audiences. Test all the channels and see who is likely to click more or get converted into customers.
The biggest question arises of what is your budget and how much you are willing to spend? If you spend more with correct techniques you are likely to get more returns on investment.
The value proposition and pain points works best when it comes to engagement and conversion rates of your ads.
Once you have collected the sample data, you are ready to go for larger marketing campaigns.
#5 Build brand awareness and demand generation with inbound or outbound methods:
The pipeline needs to be filled by snagging the target audience. Inbound and outbound strategies results into demand generation.
With the inbound strategies, prospects can reach out to you and show some signs of interest organically. Some examples are: social media pages, paid ads leading to landing pages.
With outbound strategies, you are hiring a salesperson that will reach out the prospective audiences. They may do so by sending warm emails, phone calls and gather leads at industry conferences.
#6 Find ways to optimize your pipelines and increase conversion rates:
Growth is more than picking the correct sales strategy and building a demand generation process. You need and mandatorily optimize.
Sales are the game of numbers and you are successful only with the help of checking the key performance indicators for managing sales team volume, conversion rate, and time.
You also need to know how many opportunities came inside your flywheel, which is your pipeline volume. Compare the volume of pipeline opportunities and get the overall conversion rate.
You can track how many opportunities each pipeline or sales representative converts into the permanent customers. It also means that the sooner an unqualified opportunity falls out of the flywheel the better because less time and energy are spent on the resources on that particular lead.
#7 Analyze and shorten the sales cycle:
Finally, you need to track how long is your sales cycle. This represents an amount of time taken for an opportunity to enter the sales funnel and close deal. The goal is to shorten the sales or conversion cycle at every stage. You can identify common objections and brainstorm the ways to find the best customers.
#8 Reduce customer acquisition cost:
You need to optimize the customer acquisition cost as a business owner. The cost will be higher at the initial stages and later on it will get reduced or else you will make spending more money than making it.
#9 Strategize ways to tap the existing customer base:
A business costs seven times more to acquire new customers in the industry than it normally spends in doing business with the existing customer. It is because the existing customers already knows you and trust you.
Business leaders can optimize their processes to accelerate the business with researching the analytics and news sales technologies that are emerging.
Take time and continue as you too can build a company.
Still stumped? Create a strong GTM strategy for your new venture:
Building effective GO-TO-MARKETING strategies is critical before bringing the products or new services to the existing market. With the above techniques, you are good to go while launching your products or services that will solve problems of future customers and will become profitable in the marketplace.
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