Good day PROs!
We've spent the last 30 days digging into Outbound as a GTM motion. It's now obvious this is the canary in the coal mine for the structure of the entire Go-to-Market team.
Buyer expectations for finding, selecting and implementing B2B products and services have changed … permanently. Yet the design of our Go-to-Market organization has not kept pace.
One thing our exploration of Outbound confirmed, we need to start from the ground up because there are a set of interrelated capabilities that open up huge potential for our GTM engine.
These 7 requirements were a consistent theme across our discussions with 5 other experts (note - we release Kyle's episode tomorrow!)
1. Creative Data Tinkerer
Who is the Creative Data Tinkerer?
They are the linchpin of our modern GTM strategy. They see beyond surface-level data and extract insights on which we can take action.
They are technical and analytical and know where to find relevant attributes and/or signals, even if they're several layers below the surface.
In addition, they also understand what these signals mean.
ICP Precision: This role demands a tight definition of your Ideal Customer Profile (ICP). Without a precise ICP, we risk getting spread too thin. We need to give them this. And ICP can't be based on strong opinions and weak data.
Data Utilization: They use data creatively to understand customer behavior and business dynamics. This isn't just about collecting data; it's about connecting the dots in ways that reveal hidden opportunities.
AI Tools: Leveraging AI tools, the Creative Data Tinkerer can gather and analyze data more effectively, allowing for nuanced and strategic decision-making. Application of these AI tools is a new frontier, so this person needs to explore the boundaries.
2. Data Model + Infrastructure
This doesn't need to be intimidating. We just need to consider that we now have 10s/100s of data points / information that we will use to trigger actions or inform messaging.
But these really don't need to live as a static data element in a custom field that is synced across multiple systems.
We therefore need to think creatively about data types and where they live, based on their "shelf life."
Long Shelf Life: Data points like company name, address, etc.
Medium Shelf Life: Relevant for 2-4 quarters; employee size, strategic initiatives, etc.
Short Shelf Life: If we don't take action on these quickly, we risk being stale within 30-60 days. Examples include new hires, product launches, events, etc.
3. Stages of the Buyer
How do you engage buyers effectively?
In our discussion with Tito, he provided a simplified framework that is very actionable:
If we prioritize our efforts towards those who are "Open to Learn," we get the added benefit of also reaching those "Open to Change" and "Open to Buy" (in-market).
Practically speaking, this is much simpler to execute vs stages of awareness, because a buyer's journey through those stages is non-linear and impossible to track!
4. Content Creation
Tightly defined ICP + depth of insights on the Buyer's "Jobs to be Done" are the foundation for engaging, top-tier content. This is now the price of admission to cut through the noise.
To get here requires an "Investigative Journalist" mindset. One that digs below the surface to get to the unspoken or unidentified factors that affect being "Open to Change."
For example, when we do prospect interviews, we routinely here that companies aren't thrilled with their current system, but they are doing nothing to change.
WHY?!
The answers lie in unspoken personal, departmental and organizational dynamics. Find those and you have the key to deliver content that resonates.
5. Team Structure and Skills
How should you structure your team for success?
Focus first on capabilities required to execute, THEN determine the department to which they should report, based on the core functions of that department and the experience of the leader.
A great example is outbound email.
Traditionally this has been "owned" by Sales Development. But are they really email experts? Let us answer that for you. No. No they aren't.
Success in email today requires:
clean data
enriched records
emails with personalization and relevance (at scale), with
suitable offer of value, connected to
well-orchestrated experience, that is
measurable, so that
iterations are quick and timely
With those requirements in mind, this function is actually closer to traditional "demand gen" or "performance marketing."
6. Incentive Structures
"Incentives matter," was something we heard consistently. Focus on meaningful "input" metrics rather than just activities and meetings.
If we are asking the Sales Development team to reach out to "Open to Learn" prospects, then incentivizing them against booked meetings is not going to end well.
Teaser - in our upcoming podcast with Kyle Norton, he shares how he is changing the comp plan to better align the various steps of the Buyer Journey; pre-sale, sale, post-sale.
Despite the best of intentions, department-level incentives are often inadvertently counter-productive to the output of the system.
7. Measurement
We have been spoiled by a decade where "direct response" marketing and measurement worked. But the data is now so much less reliable (if it even exists) and it no longer represents how Buyers gather information.
So much so, we asked, "Attribution. Should we even bother?"
In an environment were we are testing and iterating at velocity (which the market now requires of us), we need measurement that provides us leading indicators to what is and isn't working.
We can't solely rely on the typical monthly output of leads, opportunities, bookings, etc.
We need to evaluate the performance, over time, of cohorts, so that we can see, in near real time, how the engine is working.
We recommend doing so using Buyer Zones as the foundation, which are the phases our Buyers navigate through our revenue engine.
That is what jumped out to us so far. We will soon be providing a full guide on how lower middle market companies should consider building out these core capabilities.
If you would like a copy, just reply and we will send you one!
Gary & Andy
