Welcome to part one of our upcoming series looking at how to build out a high performing go to market strategy. We will be putting particular focus on Quote to Cash and Salesforce but the information can be applicable in other business scenarios as well.
NASCAR and Go-to-Market
I once had the opportunity to conduct a research study at the Daytona 500, interviewing fans to determine brand awareness based on the fan’s reaction to the NASCAR driver. While it was an interesting project, I learned there is a lot more to it than just being a good driver and winning the race. Being in the infield allowed me to interact with real fans who educated me on the complexity of a sport I thought was basic and straight forward. I learned that success requires more than a great driver; it also requires an experienced pit crew, and most importantly, a strong engine. The right combination results in a high performance racing team. A team that must deliver earnings that justify an investment of $1.4 Million per race, more than $15 Million each season.
Creating Your Machine
Go-to-Market execution in business is similar to what I learned from my NASCAR research. Most companies view Go-to-Market (GTM) as a Sales and Marketing effort and miss the opportunity to engage the full resources of their organization, and end up under-utilizing key systems. More than twenty years of having a role in this process as an executive and consultant have taught me that true GTM success requires the following:
- Great sales teams (drivers): deliver wins on a majority of deals; even the best drivers don’t win every race;
- Strong support organizations (pit crew): looking beyond the marketing organization, coordinating and enabling all areas of the organization that impact performance (i.e. Sales Operations, Professional Services, Support teams…etc.);
- High performance technology (engine): investing in the right technologies to ensure the organization can perform – accessing and sharing critical information that enables faster, efficient performance – driving GTM success.
When you put it all together, the right combination results in a high performance GTM organization. AKA your racing team.
Obstacles to Overcome
Addressing all three of these factors may sound easy, but it can end up being a tricky challenge. Obstacles such as limited budget or market conditions require trade-offs, a unique recipe for your business. The best drivers (sales teams) can successfully navigate challenges on the track, but a strong pit crew can take several seconds off a pit stop which can be the difference between winning and losing a race. However, all NASCAR racing teams agree that engine performance is the most critical factor in racing success. The technology of these engines is the primary driver of speed and performance. Choosing the wrong engine (technology), or under-investing in your engine can offset the success of the drivers and/or pit crew.
How Does This Help My Business?
You may be thinking okay that makes a lot of sense, but how does this translate to my business? Well, high performance go-to-market (GTM) requires a true quote-to-cash and customer engagement ecosystem. I have found that my experience with various technologies supports the argument that the Salesforce Ecosystem delivers the best high performance engine. Combined with the right processes and a cohesive GTM strategy, Salesforce and its partners are able to deliver a consistent experience along with quick access to the right information (dashboards, reporting and analytics) to drive a winning culture.
This four part blog series will share approaches used by different customers in various industries, including insights from our own firm on building and supporting a “High Performance GTM Engine.” Make sure to check back soon for part 2!
John is a Business Development Executive at Statera. He has leveraged his 20+ years of Go-to-Market & Sales Operations experience to help clients solve the Sales Enablement challenges that are impacting cost of sales and win rates. He specializes in helping his clients build business cases and roadmaps for success to ensure that processes, people and technology are aligned to drive high performance.