For most companies, revenue growth is a top goal if not THE top goal. Given this, when a company’s revenue isn’t growing, it can be a frustrating situation. What heightens this frustration is the sheer number of factors that can affect revenue growth: product or service strength, pricing, branding, messaging, competition, lead generation, sales process, sales compensation and quotas, press and analyst relations, thought leadership, and much more.
Adding to this is the fact that every leader in the business may have a different explanation for the lack of growth. For example, the Head of Sales may think the price is too high; the Head of Marketing could think the sales process is flawed; the CFO may believe the lead generation is too inefficient; the COO perceives the messaging as muddled; and the CEO is convinced that the product is too undifferentiated.
What every business that’s not growing revenue to the extent desired needs is an objective go-to-market (GTM) assessment. The purpose of a GTM assessment is to benchmark a company’s go-to-market strategy and execution across all aspects of the business versus best practices of their market leaders. A quality GTM assessment is comprehensive and includes three key components:
- A thorough review of all customer-facing content — website, brochures, product slicks, press releases, white papers, presentation decks, and anything else that is shown or sent to prospective customers — to evaluate whether the branding and messaging is effective.
- Candid, one-on-one interviews, lasting forty-five minutes each, with at least six to eight key people within Marketing and Sales. These interviews should be a rapid-fire series offocused questions — do you do X, yes or no? On a five-point scale, how would you rate your execution on Y? The individuals interviewed should be a mixture of leaders and front-line personnel. The goal of these interviews is to get a clear, comprehensive picture of the current GTM execution.
- A strategic discussion, typically with the CEO, to capture the business’ rationale, positioning, and goals. The result of this discussion is a strategy overview (see sample) that details the factors that customers value and plots the company’s value proposition versus available alternatives. Determining current and ideal strategy is essential to avoid strong execution of a weak strategy.
Sample Strategy Overview
Advantary has extensive experience performing GTM assessments and benchmarks. The Advantary Revenue Growth Practice incorporates a comprehensive review of GTM strategy andexecution. Armed with output from this process, the Advantary team can determine with a company’s leadership which are the greatest strategic opportunities and highest-priority execution gaps. On that basis an action plan can be developed to optimize a company’s growth. The immediate result is an elimination of frustration and indecision. Over a period of weeks strategic shifts and closed execution gaps begin to meaningfully impact revenue growth.
Here are a few examples of the results the Advantary team has delivered to clients through assessing and optimizing their go-to-market strategy and execution:
- Helped launch a SaaS division and land $100MM+ in new revenue for NASDAQ company
- Assisted start-up to land $10MM resale deal with NASDAQ company
- Helped launch and grow a startup to $100 revenue and IPO in 3 years.
- Developed a $5MM joint venture with tech media leader
- Led sales for a pharmaceutical distributor and grew revenue from inception to $600M in 6 years (Inc 500 #4 and #237, company acquired)
- Led sales for a specialty group purchasing organization (GPO) and grew revenue from launch to $1B contract sales (company acquired)
- Head of sales for a SaaS-based electronic medical record business and tripling user base resulting in $100M acquisition (subsequently acquired again for $2.1b by a pharmaceutical manufacturer)
To learn more about Advantary and our Revenue Growth Practice, visit advantary.co.
About the Author
The author is a partner in Advantary and a recognized expert in go-to-market strategy and execution having helped dozens of companies optimize their value proposition and its delivery. He loves learning about and helping businesses overcome challenges to revenue growth. Learn more about Matt Bramson or contact him directly at firstname.lastname@example.org.