The 8Cs of Successful Rollouts
Whether you're entering a new market, rolling out a new product or planning any significant new initiative, you need a holistic, 360-degree plan and roadmap for execution. Where to start? Here's a concise – yet comprehensive – framework that covers the eight essential elements in developing your Go-to-Market (G2M) program.
Let’s take a spin.
The GTM Wheel: Successful outcomes begin with comprehensive planning. Here are the core elements.
1. Who's your CUSTOMER?
It always starts here. Do you know who they are, what they want, where they are and how they buy? If you haven't already, document the Ideal Customer Profile (ICP). Be specific. It’s a critical exercise to target and then qualify effectively. Describe industries you fit, firmographics (revenues, employees, geographies), buyer personas (financial, operational and technical buyers) and other criteria.
2. Do you know your COMPETITION?
Who are the market "gorillas" and next big things…and how will you challenge the status quo? It's important to know, follow and go where they go. Buyers (and analysts) need to compare you to other known solutions to understand where you fit and what value you bring as an alternative. It can be especially effective to “ride in their wake” when comes to key events, influencers and news channels when you're breaking into a new market - at first.
3. Do you have the right CONTENT ready?
You need a clear story, sales tools to explain your offer (decks, demos and videos) and follow up information to take buyers through the sales journey. This includes customer examples that illustrate how you solve problems and deliver value. You might also want internal playbooks to help your selling teams articulate your story and position your offer in the perspective of the buyer – instead of from your product.
4. Where's your COMMUNITY?
This is about building relationships, contributing knowledge/thought leadership and being in the right places. Whether it's connecting with influencers, targeting selling partners, or choosing media outlets for earned and paid promotion, you want to be in the LinkedIn groups, technical forums and industry events where ecosystems gather virtually and physically.
Here's one easy hack: Scour the website of the top event for your segment, and the gorilla vendor’s annual conference. Look at all the sponsors as likely competitors and partners. Find the media sponsors to know which press to target. And look carefully at the agenda. Panel and session speakers are good potential prospects — they’re usually decision makers.
5. Can you run CAMPAIGNS?
You'll need to build your pipeline with outreach that attracts, qualifies and engages targets. This is the cornerstone of your marketing program.
Establish a hook: Educate buyers with information that hits a pain point, connects your solution to top industry trends or explains best practices. Customers are your best candidates for this, followed by surveys that validate market gaps and buyer needs.
Identify launch trigger(s): Create a "forcing function,” such as a new product introduction or trade event, or set your own deadline with a webinar, to pull everything together with a sense of urgency.
Follow through: Provide actionable content and offers for next-level engagement, such as infographics and assessments.
Track (and automate): You'll need to measure effectiveness, adjusting as needed. Do you have the tools in place - from marketing automation and contact management systems to response forms and analytics?
6. How will you CONVERT?
Have you mapped your lead flow and sales process? Define (and score) what makes a marketing qualified lead (those that fit within your ICP) based on specific actions. Be clear on what moves them down the funnel to sales, using a basic methodology such as BANT (Budget, Authority, Need and Timeline) or a more comprehensive Challenger model (best for most startups).
Forgive the obvious, but set realistic, reachable goals. Fill the pipeline according to revenue objectives, considering win rates and length of sales cycle. How many do you prospects do you expect to close (oops, another "c"!) in the fiscal year? How many active deals can your reps handle concurrently? How many leads can you qualify in a timely fashion? You'd be shocked at how often companies fail to follow up with the leads they generate.
You'll want to schedule appropriate touchpoints to nurture leads, whatever their stage. And you should have thresholds to drop unproductive or unqualified leads. Optimists may think, "never say never," but why spend resources on zombies? (Feel free to argue this point; there are valid reasons why!)
7. All-important CASH!
You probably already know that the "rule of thumb" budget for B2B software can range from 3% to 20% of revenues. We believe that 7% is the ideal planning number. What's the right spending level for your business at your stage? New markets cost more. Early stages need to spend more to build the basics before they can get out there. You can build "presence"(DIY) or buy it (sponsorships) -- it's a matter of cost, time, the tools and audience to reach and ability to execute. Know the implications of your trade-offs. Either way, it's an investment that needs to be sustained to achieve any results.
How should you allocate spending across different actions, targets and resources…and over the course of the year? Have you accounted for ad hoc requirements? (We recommend semester planning cycles and 70%:30% identified:reactive spending allocation to allow for new opportunities, especially practical if you're just building partnerships, too.)
Be smart and realistic about what you can accomplish with a limited budget. Be ruthless in evaluating spend against your ICP and prioritize revenue acceleration when you have to make tradeoffs. Tag nice-to-have and need-to-have actions.
8. Don't forget about differences in CULTURE.
This is a bigger deal than you'd think when you're coming to the US from Paris or Munich or Dublin. It's not one world and there's not one way to do business everywhere. Don't underestimate the impact of this in how you deliver your sales pitch, set sales appointments, work with partners and approach market influencers. For instance, some countries and regions do meetings and seminars in person; others are virtual — even if you’re just across town.
So that's a relatively quick spin of developing a holistic plan. Each company is unique in its strengths and challenges, experience and gaps. Where do you land? Happy to help with a discussion, assessment or more - get in touch! Thanks for reading.
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Bonnie Ravina founded Full Circle to help B2B tech companies position, grow and scale. She's delivered for and advised nearly 40 startups and breakthrough companies around the world on market entry and product launches, core messaging and storytelling, thought leadership programs, customer development, sales enablement and demand campaigns.
