Disruptive changes in buyer behavior should not lead to a complete rebuilding of strategy if the right foundations for growth and the way the work is done are in place.
Are you focused enough to make a necessary business change? For emerging business marketers, too much of the good stuff can be just as difficult to manage as too little.
In good times, the goal is usually too broad. Marketers are advised to implement multiple growth strategies at once (e.g. new buyers, new markets, new offerings) resulting in wasted effort, depleted resources, poor results and a limited ability to scale for future growth. In tough times – often with a lot of finger pointing from marketing and sales – marketers often find themselves accused of “getting all they can” to survive. This in turn leads to a strain of resources by scattering marketers too thinly, limiting scale and slowing the recovery and potentially setting the business up for failure by expanding the focus so broad that the business loses customer trust.
Focusing all components of the revenue engine (customer success, marketing, products and direct / indirect sales) on the primary growth strategy with common goals is essential in good and difficult times.
Are sales and marketing aligned?
The answer to the question “How do we focus our revenue engine on the same goals to be successful?” Is right in front of our noses – we just need to understand the buyer.
If we understand how the buyer buys and how the customer engages, then we can align the strategy and execution of the revenue engine with the journey to optimize the experience and the results. This requires a solid understanding of the needs of buyers. Marketing needs to lead the charge by bringing together executives and revenue engine leaders to develop the go-to-market strategy; determine the segments, industries and buyers to target; and discover the needs of buyers and the offers that will meet them.
Armed with this knowledge, teams should use the SiriusDecisions Integrated Sales and Marketing Workflow for Emerging Businesses and the Emerging Business Marketing Responsibility Line model to define the work to be done and keep teams focused and aligned. .
In addition to focus and alignment, marketers in emerging businesses need to have a clear understanding of how to become hyper-relevant to meet the expectations of today’s buyers and ensure the right technology is available and connected to support marketing and business goals. To help managers and marketing teams in emerging companies better understand the breadth of priorities they need to focus on in 2021 and how to execute them, we’ve put together a list of five planning assumptions to consider.
To learn more about this, you can explore Forrester B2B Research.
You can download the Forrester B2B 2021 CMO Planning Assumptions here.
This article was written by Vice President and Research Director Matt Papertsian, and it originally appeared here.