Fact: by prioritising Customer Experience (CX) you are far more likely to build a stronger, more successful business. While your Go-To-Market (GTM) model defines how you’ll bring your products or services to market and engages with your target customers, CX encompasses the entire customer journey and how they perceive and interact with your company.
There are a whole host of reasons why CX should play a central role in the GTM model of every business:
Customer retention
A positive customer experience is critical for increasing customer loyalty and reducing churn.
Competitive advantage
Customer experience is a key differentiator. A superior CX sets you apart from competitors.
Increased revenue
A positive customer experience can lead to repeat purchases and customer referrals.
Improved customer satisfaction
By prioritising CX you can build a strong reputation for delivering a high-quality experience.
Data-driven insights
When customer needs and preferences influence your GTM model you can better target and engage with your customers.
Improved customer support
By prioritising customer needs can build stronger customer relationships.
So that’s why you should prioritise CX. Now here’s the how…
Define your desired customer experience across all touchpoints, including marketing, sales, and customer support.
Align the GTM model with the desired CX, including messaging, targeting, channels, and tactics.
Leverage customer feedback to understand their needs, preferences, and pain points. Use this to adjust the GTM model and improve the customer experience.
Measure the success of the CX using metrics like customer satisfaction, Net Promoter Score (NPS), and customer retention. Use this data to improve your GTM model.
Involve CX teams in GTM planning to ensure CX is prioritised throughout the process.
Key challenges when implementing GTM models
GTM models can be complex, especially for larger organisations. Multiple departments and stakeholders may be involved, and alignment across these groups can be challenging.
GTM models require integration across different channels, technologies, and data sources. Seamless integration can be a big challenge, especially for organisations with legacy systems.
GTM models must be designed with a deep understanding of the target customer’s needs, preferences, and behaviours. This can be difficult, especially for organisations entering new markets.
GTM models require significant resources, including time, money, and personnel. Allocating these effectively can be a challenge, especially for smaller organisations with limited resources.
GTM models must be measurable to assess their effectiveness and ROI. However, measuring the impact of GTM models can be tough, especially for long-term initiatives.
Competition can be fierce in many markets, and companies must differentiate themselves effectively to succeed. Standing out in a crowded market can be a significant challenge.
The speed at which companies must bring products and services to market is increasing. Adopting agile processes and technologies is critical, but can challenge larger, more established organisations.
7 steps to reviewing and optimising your GTM model
1: Define clear objectives
Your GTM model should be aligned with the company's overall goals and objectives. Start by defining clear objectives and KPIs that will be used to measure success. These could be increasing revenue, improving customer retention, or expanding into new markets.
2: Develop a new GTM model
Identify gaps between your current model and your objectives. Assess the competition and spot ways to differentiate yourself. This could include changes to your messaging, pricing, or distribution strategy. Analyse and adjust your messaging, target audience, channels, and tactics.
3: Understand the customer
Conduct thorough research and review customer behaviour, preferences, and purchase history data to understand their needs, preferences, and behaviours. This can inform adjustments to your GTM model to better target and engage with customers.
4: Segment the market
To effectively target customers, segment the market into groups with similar characteristics and needs. This allows for more targeted messaging and personalised offers.
5: Collaborate across departments
Effective GTM models require collaboration and clear communication across departments, including sales, marketing, product management, and customer support. Ensure all stakeholders are aligned around the new GTM model and understand their roles in executing the strategy.
6: Test and iterate
Effective GTM models use data to measure and adjust as needed.
7: Invest in technology
GTM models often require an investment in technology to reach and engage with customers.