An Effective Go-to-Market Strategy Gives Marketers A 50% Greater Chance of Product Launch Success, According to Softwarereviews' Findings

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May 18, 2023, 13:30 ET

75% of high-tech marketers desire a more productive go-to-market strategy.

TORONTO, May 18, 2023 /PRNewswire/ - A strong go-to-market (GTM) strategy can positively impact revenue growth and enable an organization to meet its targets, particularly during a recession. Conversely, a weak or poorly defined GTM strategy is often the root cause of slow product revenue growth or missed sales targets. To help organizations maximize their GTM success, SoftwareReviews, the "how-to" source for improving the B2B software experience, has published its research-backed blueprint, Build a More Effective Go-to-Market Strategy.

SoftwareReviews' recommended approach for making go-to-market strategies more successful, found in the firm’s “Build a More Effective Go-to-Market Strategy” blueprint. (CNW Group/SoftwareReviews)

According to insights from SoftwareReviews' research, found within the blueprint, a more effective GTM strategy is desired by 75% of high-tech marketers, as it can increase their chances of product launch success by 50% if developed and executed well. The research also shows that effective and repeatable GTM strategy is essential for tech startups to "get to scale." However, to achieve a successful GTM, it is essential to have a business case that aligns sales and product efforts during the launch. The firm's resource cautions that without a well-aligned business case, companies risk low buyer adoption, wasted investments in sales and marketing, and a failure to achieve product and launch campaign success. Moreover, an ineffective GTM can result in lower win rates compared to key competitors and a reduced conversion rate from contact to lead, which can ultimately lead to a lack of executive-level support for future product development and marketing investments.

"A successful go-to-market strategy aligns marketing, product, sales, and customer success, sees decision making based on deep buyer understanding, and tests many basic assumptions often overlooked in today's agile-driven product development and management environment," says Jeff Golterman, managing director at SoftwareReviews.

SoftwareReviews' findings further indicate that misunderstood needs and a lack of well-defined and prioritized buyer personas are a barrier to GTM success. For example, poor competitive analysis that fails to pinpoint key areas of differentiation can add to a marketer's challenges. Guessing buyer personas and journeys is the main cause of poor marketing and sales outcomes.

For better GTM success, the firm recommends in the blueprint that stakeholders be aligned on a common vision and execution plan prior to the build and launch phases. SoftwareReviews also suggests that organizations establish a foundation of buyer and competitive understanding to drive a more successful product hypothesis, then validate with buyers. This approach allows for delivery of a team-aligned launch plan that improves launch readiness and overall commercial success.

A GTM strategy is not all art and not all science but does require both. Software leaders should establish a set of core capabilities upon which they can plan, build, launch, and manage product success. The blueprint advises that executives, when resourcing their GTM strategies, should begin with the following factors:

Strong Program Leadership – An experienced Program Manager will guide the team through each step of GTM strategy and test team readiness before advancing to the next step.
Few Shortcuts – Successful teams will have navigated the process through all steps together at least once. Then, future launches can skip steps where prior decisions still hold.
Stakeholder Buy-In – Strong collaboration among Sales, Marketing, and Product wins the day.
Strong Team Skills – Success depends on having the right talent and making the right decisions to deliver the desired outcomes. The team should be enabled with the right set of technologies and integrated to reach the target buyers at the ideal moment.
Discipline and Perseverance – Given that building and executing a comprehensive GTM strategy is not always easy, it's not surprising that 75% of marketers cite a significant level of dissatisfaction with the outcomes of their GTM plan, build, and launch phases. Discipline and perseverance are required factors to see success.

SoftwareReviews advises that organizations put efforts into improving their GTM strategy as soon as possible, as the research suggests a lack of GTM consistency often results in decelerating growth.

For more information about SoftwareReviews' research insights and the recommended business strategies that will boost product revenue growth, download the Build a More Effective Go-to-Market Strategy blueprint.

To learn more about SoftwareReviews or to access resources to support the software selection process, visit softwarereviews.com.

About SoftwareReviews

SoftwareReviews, a division of Info-Tech Research Group, empowers organizations with the best data, insights, and advice to improve the software buying and selling experience.

For buyers, SoftwareReviews' proven software selection methodologies, customer insights, and technology advisors help maximize success with technology decisions. For providers, the firm helps build more effective marketing, product, and sales processes with expert analysts, how-to research, customer-centric marketing content, and comprehensive analysis of the buyer landscape.

Media professionals can register for unrestricted access to research across software, IT, and HR and over 200 industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].

SOURCE SoftwareReviews