Changing customer expectations, along with consumerization of the business buying experience, are ushering in a new customer experience era in SaaS (enterprise software). In Part II, we outlined primary factors that impact how companies can fulfill customer expectations by creating personalized customer experiences. This evolution changes how companies organize and execute their GTM strategy.
We briefly discussed product-led GTM as a new approach to acquire, retain, and grow customers driven by in-product customer behavior, product usage, and analytics. Now let’s dig into how to develop a product-led GTM strategy.
As described in the last section, a product-led strategy is an evolution of the GTM strategy. Essentially, a product-led GTM strategy leverages the product as a leading channel through which the company acquires, retains, and grows its customers. It’s based on in-product customer behavior, feedback, product usage, and analytics. But what does a product-led GTM strategy entail, and how do you build one?
If you need a refresher on GTM strategy, check out this great presentation by Murray McCaig on the seven-step GTM strategy. McCaig, a venture capitalist and consultant with MaRS, recommends creating a detailed plan for what you’re selling, who you’re selling to, how to reach your target market, and where you should promote your product. These are the four must-have elements of a GTM strategy. Then, with a strong value proposition, you segment and refine your target market, choose the right channels, and build an effective sales team.
Developing an effective product-led GTM strategy requires companies to analyze each of the four must-have elements of a GTM strategy by answering these questions:
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