What Is A Go-To-Customer Strategy?
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A go-to-customer (GTC) strategy focuses on increasing customer usage, satisfaction, and growth by engaging with customers directly rather than simply targeting the market. Key components include customer segmentation, value engagement, retention assessment, and monetization through upsell and cross-sell initiatives. Effective execution of a GTC strategy involves collaboration among product marketing, account management, and other roles to ensure relevance and customer-centric communication.
What Is A Go-To-Customer Strategy?
- 1. WHAT IS A GO-TO-CUSTOMER STRATEGY? The team, process, and tactics that fuel customer growth.
- 2. WAIT, DO YOU MEAN GTM? A go-to-market (GTM) strategy is how a company takes products & services into a market to acquire customers, capture share, and reach revenue goals. NOPE!
- 3. GTMS LOOK LIKE THIS
- 4. AND THIS…
- 5. …AND THIS.
- 6. THERE ARE MANY WAYS TO GTM
- 7. BUT (BIG BUT)… “There are really THREE THINGS that really matter when running a SaaS business: 1. Acquiring customers 2. Retaining customers 3. Monetizing your customers” -David Skok WICKED SMAHT http://www.forentrepreneurs.com/saas-metrics-2/ DAVID SKOK General Partner at Matrix Partners “
- 8. SO WHAT IS THE GTM MISSING? CUSTOMERS!
- 9. CONSIDER THESE FACTS 70% of companies say it’s cheaper to retain a customer than acquire them. Increasing customer retention rates by just 5% increases profits by 25-95%. 80% of your company's revenue will come from just 20% of your customers.
- 10. SO WHY THE ARE WE MARKETING TO STRANGERS?!****
- 11. THE GO-TO-CUSTOMER STRATEGY IS THE ANSWER “In the age of the customer, you will only be successful if you become customer-obsessed, so you must plan to go “to customer,” not “to market.” VP, B2B Marketing Research Forrester Research PETER O’NEILL “
- 12. GET EVERYTHING WE’RE LEARNING ABOUT PRODUCT, GROWTH, AND CUSTOMER MARKETING IN OUR WEEKLY NEWSLETTER IT’S USEFUL; WE PROMISE. , ,
- 13. A go-to-customer (GTC) strategy is how a company drives customer usage, satisfaction, and growth. WHAT IS THE GO-TO-CUSTOMER STRATEGY? GTC SEGMENT ENGAGE SATISFYGROW
- 14. WHO IS RESPONSIBLE FOR THE GTC? PRODUCT MARKETING PRODUCT MANAGEMENT CUSTOMER MARKETING NEW ROLE? • Segments customer base • Sets GTC Strategy • Launches new products to customers • Drives product usage • Solicits product feedback • Owns Voice of Customer • Creates customer-centric product information • Showcases customer success • Drives cross-sell/upsell campaigns ACCOUNT MANAGEMENT • Approves GTC Strategy • Assesses Customer Satisfaction • Opts customers in and out of campaigns
- 15. WHAT ARE THE TENENTS OF A GTC? SEGMENT ENGAGE SATISFYGROW #1: Relevance Segment the customer base to ensure conversations are relevant. #2: Value Engage the customer in their subscription to drive usage and show value. #2: Retention Assess satisfaction to ensure customers are seeing value and intend to renew. #4. Monetization Through effective upsell/cross-sell programs, achieve customer growth.
- 16. WHAT ARE THE TACTICS? SEGMENT To achieve relevance in all communications, establish customer segments that need to be addressed uniquely. PRO SUBSCRIBER CMO NON-USER HIGH TECH LOW USAGE LOW SAT ENT SUBSCRIBER MARKETING MGR USER PUBLISHING LOW USAGE NEUTRAL SAT DEV SUBSCRIBER DEVELOPER USER GAMING HIGH USAGE HIGH SAT WHAT TIER? WHAT ROLE? WHAT INDUSTRY? USER OR NON-USER? HOW SATISFIED? LEVEL OF USAGE? SEGMENT 1 SEGMENT 2 SEGMENT 3
- 17. WHAT ARE THE TACTICS? To create your customer engagement strategy, set goals and corresponding outreach types and mediums to achieve goals. DRIVE USAGE INCREASE SAT INCREASE SAT CROSS-SELL UPSELLSET GOALS OUTREACH ACTIVATE SHOW RESULTS BUILD RELATIONSHIP SHOW RESULTS SHOW NEW VALUE PROMOTE PRODUCTS INVITE TO WEBINAR SHOW FEATURES OFFER DISCOUNT ENGAGE SEGMENT 1 SEGMENT 2 SEGMENT 3
- 18. WHAT ARE THE TACTICS? To improve satisfaction, first you need to set your baseline. Ask the Net Promoter question, and then re-ask it at every major event, and track progress. NET PROMOTER CUSTOMER LIFECYCLE ONBOARDING USING SUPPORTING GROWING NET PROMOTER NET PROMOTER NET PROMOTER NET PROMOTER NET PROMOTER NET PROMOTER NET PROMOTER NET PROMOTER TIP Your greatest insight comes in the first 90 days of product usage, ask once per month to detect trends. SATISFY
- 19. WHAT ARE THE TACTICS? To monetize within your customer base beyond their core subscription, segment, craft upsell/cross-sell campaign strategies & priorities, and track performance monthly. FREE SUBSCRIPTION TIER SEGMENT 1 SEGMENT 2 SEGMENT 3 NEW PRODUCTS DEVELOPER PROFESSIONAL ENTERPRISE ELITE ADD-ON 1 ADD-ON 2 ADD-ON 3 ADD-ON 4 SEGMENT 4 1 1 2 12 1 2 GROW
- 20. HOW TO MEASURE YOUR GTC Measurement needs to be as granular as the desired outcomes, by segment. SEGMENT 1 SEGMENT 2 SEGMENT 3 … GROWTH RETENTION SATISFACTION USAGE GOAL ACTUAL GOAL ACTUAL GOAL ACTUAL GOAL ACTUAL
- 21. AND THEN… YOU RE A RELATIONSHIP MARKETER ’
- 22. AND THEN… YOU RE SCALING CUSTOMER INTIMACY ’
- 23. AND THEN… ’ YOU RE FUELING CUSTOMER GROWTH.
- 24. P.S. WANT TO KNOW THE STATE OF GO-TO- CUSTOMER STRATEGY? US, TOO! HELP US BY TAKING THE 5-MINUTE SURVEY
- 25. THANKS FOR READING! GET PRODUCT, GROWTH, AND CUSTOMER MARKETING TIPS WEEKLY: GO.DRIFTT.COM/NEWSLETTER