Discovery into Top Market Segments to Re-Validate your Growth Strategy
Going after strategic revenue in a key market is the perfect way to validate a growth strategy. Using Market Discovery to interact directly with senior decision-makers at target accounts will streamline the sales process and shorten cycle time to larger, more complex sales. Understanding needs and adapting leads to strategic revenue can lead to 12+:1 value:ARR ratio. Landing one major client does a lot to build internal confidence but also within your network and shortens any fundraising cycles with good cap-table outomes for founders.
Align your Sales & Marketing for a Better Outcome
By embedding your new market goals into the existing business, such as global marketing function, people will see that tailoring content for Executives will fit that regional market.
Conducting an audit or initial strategy session on growth marketing plan and blindspots from perspective of strategic prospects is critical to order to get clear on where your functional teams are now, and where they need to go in the future to create combinations that work.
Engage and Enable Strategic Distribution Partners
With outbound focused on strategic segments that move the needle for the business, and inbound using insights gained to build a repeatable lead engine, you are well on the road to your own transformation by now.
You could also have started directly with Strategic Partnerships. Channel partners, System Integrators and OEM partners can increase industry knowledge and market access. Knowing how to build the data sheets and training to motivate sales via a partner is the key and showing initial success leads to more funnel sharing and joint showcase clients. In the case of major high tech companies there are ecosystems of partners which are all geared towards driving revenue.
Celebrate Minor Wins & Upskill the Team in the Growth Transformation
In the initial stages of the Market Development journey, there can be ups and downs. But by focusing on the right market segments, adapting to the feedback from the market - a company that seeks to offer unique value as a category leader in it's customers' eyes will start to see relationships blossom and strategic wins grow in the market.
Enjoy the wins with the team, continue to treat people with respect as the main contributors to that success. Foster ways for people to share knowledge across the functions to adapt and learn from one another.
Achieving big milestones - the natural bi-product of ambitious, and focused Growth Strategy, brings new allies and supporters that in turn add confidence to the regional and functional leaders, as well as individual performers in sales, marketing and business development.
By developing a Growth Strategy, using Market Development-As-a-Service (MDAS) and keeping a human-centric plan you'll maximize the chance of adapting to the key markets. And building a repeatable growth engine with people propels you towards adding smart practices, new employees and AI services aligned with your unique company. Category leadership is right around the corner for a company that understands it's market, customers and the unique company traits and business model success.