4 steps to sharpen your go-to-market focus with customer segmentation

Transcript

1. 4 Steps to Sharpen Your Go-to-Market Focus With Customer Segmentation
2. Joe Andrews VP, Product and Solutions Marketing About Me • Story teller • Passionate about AI for sales and marketing • Product marketing roles @ @andrewsjoe
3. Topics • The Case for Change • How to Sharpen Your GTM Focus • What Success Looks Like @andrewsjoe
4. The Case for Change
5. Business Leaders are Now Even More Deliberate About How to Drive Revenue Growth CMO What key go-to-market questions does your team need to answer? CRO CFO CEO “Who is my ICP and what market segments should we target?” “Are we maximizing win rates and deal size to hit our quota?” “Are we getting the revenue we want from the right customers?” “What are we doing to improve our CAC, payback and CLV?” @andrewsjoe
6. TAM Measurement New For Demand Generation Source: SiriusDecisions Demand Waterfall, 2017
7. Source: InsideView Sales & Marketing Alignment Market Survey, Feb 2018. N=500+ Use of TAM Measurement in Market WE ASKED How accurate is your organization’s measurement of Total Addressable Market (TAM) ? No target market measurement 25% Ad hoc target market measurement 28% Assessed annually 24% Regularly review 23% 53% do not regularly assess their target market
8. Executives have instant access to market information to discover and understand new markets Sales and Marketing are fully informed and aligned to engage and execute Everyone has visibility into market performance to fine tune and optimize in real-time Imagine a Mature, Fully Aligned GTM Engine
9. WE ASKED What go-to-market maturity stage best aligns to your company? 54% of companies are here Source: InsideView, The State of Sales and Marketing Alignment Report, 2018
10. Leading Companies Exhibit GTM Maturity 2.3x 5.3x Companies exceeding revenue goals are 2.3x more likely to report high levels of alignment Companies exceeding revenue goals are 5.3x more likely to describe their go-to-market maturity level as orchestrated or dominant. Source: InsideView, The State of Sales and Marketing Alignment Report, 2018
11. How to Sharpen Your GTM Focus
12. ICP > TAM > ABM: Taming the Alphabet Who are my perfect customers? Where do they work? What do they do? What accounts fit that profile? Where are they located? How many are in my database? Let’s target: 1 2 3 IDEAL CUSTOMER PROFILE Define your targets. TOTAL ADDRESSABLE MARKET Find every matching account. ACCOUNT-BASED MARKETING Target them one by one. @andrewsjoe
13. Determining Your ICP 1. Decide on key performance indicators that determine “best customer” – ACV, LTV, CAC 2. Assess attributes that can identify and predict ICP match – Firmographic – Demographic – Psychographic – Behavioral 3. Analyze your customers by those attributes InsideView’s attributes: I. Firmographic • Industry • Geographic location • # of sales reps • Growth rate (YoY) I. Behavioral / psychographic • Use of competitor’s products • Serial buyer • Relationships / connections • Martech adoption • Upsell and cross sell potential • Buyer intent surge @andrewsjoe
14. Ideal Client Profile Mapping: Before @andrewsjoe
15. Ideal Client Profile Mapping: After @andrewsjoe
16. Building Your TAM @andrewsjoe
17. Pain Points: • Difficult to keep data clean • Manual spreadsheets to define segments ◦ “vlookups and pivot tables” • Siloed processes - lots of cooks in the kitchen! Business Impact: • Revenue growth • Time to market for new offerings • Cost & efficiency Challenges: Data Gaps, Manual Processes, Org Silos CMO / CRO Product Marketing Sales Demand Gen / Operations @andrewsjoe
18. Total Market Opportunity using InsideView Apex
19. 67% had 3+ engaged departments 34 average engaged people per account Ensure People Coverage Personas Job Level
20. Exec Team Revenue Operations Revenue Teams Don’t Forget Personas GTM Planning & Segmentation • Discover ICP & TAM • Align revenue teams to execute • Measure performance and optimize Sales & Marketing Execution • Target and engage with the right prospects • Retain and grow accounts Customer Data Management • Clean & maintain CRM data • Enrich data - accounts, leads, and contacts • Unify data around single source of truth
21. Exec Team Revenue Operations Revenue Teams Don’t Forget Personas GTM Planning & Segmentation • Discover ICP & TAM • Align revenue teams to execute • Measure performance and optimize Sales & Marketing Execution • Target and engage with the right prospects • Retain and grow accounts Customer Data Management • Clean & maintain CRM data • Enrich data - accounts, leads, and contacts • Unify data around single source of truth
22. What Success Looks Like
23. Targeted GTM Metrics 1. Engagement goals: leading 2. Financial goals: lagging SUCCESS METRICS EARLY • New names in target account (building out TAM white space) • Higher program engagement across multiple contacts • Lift in website traffic from targeted accounts MID • # of meetings set with target accounts • Marketing qualified leads in target accounts • Program success with a target account • Call connects with target accounts LATE • Higher win rates • Higher ASP • Deeper and broader relationships within accounts • # opportunities in targeted accounts • Pipeline in targeted accounts • Deal acceleration • Multi-product, multi-year deals @andrewsjoe
24. Summary: 4 Steps to Sharpen Your GTM Focus Determine your ICP - everything depends on it! Build out your TAM and reassess on a regular basis Ensure your targeting the right personas Measure success and iterate. Don’t set it and forget it! @andrewsjoe
25. Thank you!