The B2B Revenue Executive Experience
The B2B Revenue Executive Experience

Episode · 5 months ago

How to Prepare a Winning GTM Strategy

ABOUT THIS EPISODE

Your company has just launched its newest innovation — it’s gonna change the world! If you can successfully bring it to market, that is. So, naturally, you’ve consulted a Druid priestess, a sorcerer from Des Moines and Deepak Chopra to make sure everything goes smoothly. You’ve read the augers, but they were murky (“Reply hazy, try again”). Before you delve into more alternative forms of divination, what if we told you there was an easier way?

Well, if you ask today’s guest, Patrick Baynes, CEO of Nerdwise, he’ll tell you that you’re overthinking it. Forming your GTM strategy doesn’t take black magic; it just takes a little organization and preparation.

Join us as we discuss:

  • The best approach to planning a GTM strategy 
  • When and when not to use automation
  • How to get sales and marketing to hold hands and skip along

Now that you know the secrets to refereeing the battle between sales and marketing, are you ready to learn more about post- pandemic selling or the B2B buyers’ journey? Check out the full list of episodes: The B2B Revenue Executive Experience. 

You're listening to the BDB revenue executive experience, a podcast dedicated to helping executives train their sales and marketing teams to optimize growth. Whether you're looking for techniques and strategies were tools and resources, you've come to the right place. Let's accelerate your growth in three, two, one. Welcome everyone to the BB revenue executive experience. I'm your host, Janderson. Today we're talking about a market strategy and planning elements to effective sales outreach, messaging relate tween marketing and sales, and what we should automate and what we shouldn't. To help us, we have with US Patrick, CEO of Nerdwise, Patrick, welcome to the show. Thank you, Chad. Great to be here. Thanks for having me so we always like to start with kind of off the wall questions as for the audience, to get to know you a little bit better, and I'm always curious to know something you're passionate about that people that all know your business might be surprised to learn. Yeah, I think you know. I would start with that. I it's sort of a funny corky thing, but I really enjoy serving people. Like posting and serving people in social environments, and it certainly makes its way to my like professional side. But I'm a people person and I just kind of get it's like a simple pleasure in life, whether that's like taking chips out of a bag and putting them in a bowl, like medical there literally all the way to, you know, making like the most amazing Shark cootery board and and I feel similar. It's like part of part of my professional side as well, where I just I really enjoy kind of creating a five star experience and serving people. But yeah, it's it's a true passion. It's like one of those things that that I really do enjoy. That's awesome. That's awesome. It's unique. I haven't heard that one before, but I can totally get it. Totally get it's so all right. So let's talk about go to market strategy. When we talk about it, you know how from your perspective, and it's kind of a black magic for a lot of people, right, like how do they get to GTM? Right? They're always constantly tweaking it. From your perspective, how should companies go about approaching the strategy and planning of their GTM to make it as effective as possible. Yeah, first don't, don't, don't think of it as black magic and don't listen to people who make it sound more complicated than it is. And that's just like that's like my personal viewpoint on it. I've I sat through some frustrating in historic through my career, some frustrating workshops where you know, you leave and you feel like you now you need all these things or you don't. You need more answers to more questions. And when it comes to go to market, there's two main things to think about first, in my mind. You know, the first is, of course, your goals and your goals for Your Business, for your your sales goals, your lead goals, are just kind of basic. What are what are we out to achieve? And then from that, the other thing I would say is go to market planning is really just organizing and...

...prioritizing literally how you want to go to market and when you're thinking about organizing and prioritizing it, you want to go you know, get you've got your goals in mind, but but those goals you want to you want to make it is easy as possible for you to achieve those goals, and so think about it is organizing and prioritizing where you want to focus in the market and then just drilling down from there and and how to make your life easier. There's a couple of shortcuts, you know. One is where do you have the most traction today, and then what do you need to kind of double down on that traction? You know, there's like this marketing stack or customer success stack where you have the case studies, the reference is, the testimonials, the you know, all that, all that sort of sales and marketing enablement stuff. But that's how I think about go to market planning. Is like how can we make both our job as marketers easier to generate leads and how can we make it easier for our sales team to convert and close close those opportunities as they're generated? And you know, a go to market plan should just look like, you know, bucket one we're going to go after, you know, and could be bucket one could often be again you're looking for like low hanging through to where you're going to have the most success. Could just be like old lead reactivation right with so many companies that have been for around for a while have leads that don't convert. Most of us do, and so that's doesn't need to be black magic or smoke and mirrors. It's just let's take our leads that don't convert after sixty or ninety days and and part of our go to market is around nurturing those leaves and reactivating them. And then bucket to is, you know, hey, we've got success in financial services and it's with advisory firm, so let's let's stumble down on that and stick to that and then let's branch off of there and goes to accounting, because that's like a close neighbor to still in financial services, and then, you know, so forth. So you know, that's just some some of my thoughts on go to market planning. I don't think it needs to be physics or rocket science or anything, but you do need to expend about simplicity is always better. I often see companies just get wrapped around the axle overthinking and overanalyzing, often to you know, analysis by proud analysis proalysis kind of effect. So when you talk about the the nursing of leads in the sales side of it, when it comes to affect sales outreach messaging, what do you see that companies are often missing, because we've all been subject to severally horrible reach. So I'm curious to know from your perspective kind of how should companies look at that messaging to make it more effective? Well, yeah, so we started on the right topic, which is directly related to your question, which is go to market planning, and you need to know who your audience is well to develop effective messaging. So it starts with the audience and knowing who that I don't that audience is. If you don't have a well defined go to market plan or well defined customer segment that you're going after, your sales team is going to be blending messaging, they're going to be using messaging from one industry to another. They will not have kind of...

...a the full, you know, quiver of Arrows that they need to go at a market. And so I think it starts with your audience and then I break down, when it comes to messaging, you know, into three, three or four different elements that I think are the most important. The first is the language that that audience uses. Right, like healthcare doesn't use the same language as education, as financial services, as tech. Right, health care cares about patients and education. It's about students, student safety, student effect, student you know, whatever the case is, tech, it might be customers, financial services, clients and compliance. They don't they don't use the same language. My point. The second thing is they don't have the same goals. They're not working towards the same thing. You know, when it one of the big one of the big missteps in marketing is, and this is everybody, I say, everybody knows this, I guess. I guess a lot of people still don't, but you know, it's it this stage of the relationship, the marketing, you know, kind of out sales outreach, cold outreach, whatever you want to advertising. That the first touch point or one of the early touch points, top of funnel. People don't care at all about you and your services and your company or interrupting their day. You're trying to get their attention, and so to do that it has to be about this is the second thing. It has to be about the outcomes, that they care about their goals. It's got to be about with their working towards you literally have to kind of get in their head. And so again goes back to the audience. You know, if it's it's an accounting for will. You know their numbers, ory and it's so let it's and you know they're always out up to save some money or to do something more effectively. So let's use some language that speaks to that. You know, if it's education, it's going to be something else. So the language the audience uses, the outcomes that they're trying to achieve, not not your stuff. You at this stage you don't want to really be talking about your stuff much at all in your messaging. And then the third element is credibility. So so why you you know, otherwise it's just an anonymous message. You're nobody. So you know things like hey, we've helped hundreds of others like you, or we work with this one, this one, or here's a case study. And so I think those are the three, the three main elements. And then, you know, I'd the last thing I would say is people like people. They don't like, you know, marketing. So you know, be human, you know, be be beat begause, be personal, be polite. You know, I think in your messaging and your communications, all that stuff matters. Yeah, absolutely, and there's an interesting dichotomy that right between marketing and sales marketing, providing things sales with oft without oftening, kind of what sales is doing or how they're doing it. Throughout my entire career we've all heard about sales and marketing kind of being a friction, you know, at odds with each other. I'm curious from your perspective, if you were thinking about that, GTM, and we're thinking the messaging, how do we then get marketing and sales to get on the same page and what would that look like to make them optimal into their interactions? Well, so, first of all, they're on the same team,...

...right, and and so like. If you have to have you have to have that, that you know that that has to be sort of point number one. You know you got this. Should share, they should share goals, they should share lead goals, they should share sales goals and they should be working towards the same goals on the same team. And I think that. I think that as as over the last ten, twenty years, particularly with the rise of marketing and sales technologies that have come about, that that they are working more closely together than ever before. Right, it's no longer the creative ivory tower and then the like. You know, good old boy with his briefcase, that and they're totally separate, right. Those are not those. That's not the world that we live in anymore. So I think they are working closer together than ever before. I think they need to share goals and then, you know, it's it like it always has been, but I think now it's it's gotten even, you know, more more in the weeds. Marketing job is to make sales easier and to make sales more effective, and so you know, that's but what they should be sharing goals, they should be in the same meetings, they should be working together on the same stuff. And and now a sales marketing somebody WHO's in marketing. They're going to be in the sales operation, in the sales process and the sales communications more so than ever before, not just creating the case studies in the in the white papers, but they should be ensuring that, you know, that they're all working from on the same plan, they're going after the same markets, that they've got that stack of you know, messaging and they need a deck. They get the decks. They you know, whatever it may be. But I think they got to work closer to closer. Right. I often say with with nerdwise of our company. And when you think about, you know, sales automation and marketing, automation and sales, it's got to be like sales and marketing holding hands and skipping down the street together like they're working together and that has that hat, that's that has its how it has to happen. I love it. That's a beautiful image that I'm not gonna be able to get out of my head for the rest of the day. So all right, so we think about some can they're on the same team. Some people, I think, are getting to the point where, look, they'll even label rev ops to just get rid of the whole dichotomy thing that's been there in the past. But then there's this concept of the tech stack in automation and and and we've seen, we've all been, you know, we've all received overly automated outreach in in our lives. Then I'm curious, is there a balance, like what's the right amount of automation to Sergtm, you know, fueled by the messaging of that combined team putting together? How do people what's the right level and how do people avoid automating too much? Well, I I'm always scared to throw automation at a lot of things, particularly when you've got even somebody who's well, I should be careful because sometimes when someone's in funnel and you've already identified them, a little bit of automations okay, because you're just trying to move them from one stage to the other. So if you if you know where someone's that in your...

...funnel. But but I guess, I guess the the backing up just a little bit here is, who are we talking about? Right? If we're going out cold, you know you can, you can. I don't want to. I don't want to. That's probably where you can use the most automation because you know the damage is. Of course you can do some damage, but they're not they're not leads. There you know you're not going to lose a lead. You can learn a lot. You want to be learning and optimizing and making sure you're doing quality outreach getting quality results. But the further people get down into your funnel, the more they know about you, know your organization, and more interest they have, the less automation you want to be using. I saw some men like these marketing groups. I saw a new AI, you know platform, you can hook up to your email and it will respond to this is what the guy was promoting, that it will. It'll build nurture your your responses to your to your sales automation outreach and if it's you know, if they're not that interested or whatever they say like, it will actually have the conversation for you. And I just couldn't believe it. I was like, man, I would never, if if there's a perspective client coming, you know, into my inbox with a question, not you know, no, thank you, not at this time. But they're if they are already that close to to me as a person, I'm there's no way I'm going to throw more automation at them. You know, the value of a lead is so incredibly high that when it's when it's at that stage, when it's a what, it's further in the funnel. Throwing automation it's something that could be worth thirty thousand dollars is like that's a humans job. You know. Throwing automation it's something that there is no value to it because they're not even interested yet, they don't know who you are. One it's a little little less damage can be done. There but that would be my rule of thumb, is I would I would back away from automation the further people are in the funnel. Yeah, I love that. I think that makes sense right, because people want to buy from people, like said, be human. They want that connection. I had some of those automated ai conversation bots or ever, and its interesting, but it doesn't have it doesn't a list of the same reaction, especially when I'm looking to spend significant dollars. Sorry, I want to be able to develop trust, credibility and report somebody. So let's let's talk talk about nerdwise a little bit. Tell us about the company and in your journey to get there. Well, we so we tried to be the literally and all in one lead generation and sales enablement platform, which I know is is a buzz term and a lot of people say that, but you'll, all in one can come from so many different angles and for us it's not just software. We do include software, but to to have an effective prospecting engine and to give a regular flow qualified leads for your sales team and truly support them. You don't just need, you know, an outreach license or you know, some sequences. You really need a nicely laid out go to market plan that will identify what your contact lists needs are, your prospect list needs. So we provide all these things. We assist with the go to market planning, then we provide...

...we can generate prospect lists, then we provide messaging. Then we also execute, optimized and maintain that those outreach sequences. And then the sort of final category is we provide lead scoring and task management so that as as companies a sales teams are going out to market and and at a higher volume, engaging their target customers. You know there's going to be folks that are in funnel, that are showing interest but didn't didn't convert it in sign up and they go back to the website or they go back to an email or they engage enough that it's worth reaching out. We call that targeted follow through. So so the final thing that we do in addition to there's kind of two big buckets, but one is the the entire prospecting system and optimizing that and anything that would get in your way to make it effective we provide. And then this lead scoring software that we have. It enables task management and targeted follow through on those. Those qualify that were people called marketing qualified leads, but leads that they now they're in the funnel. They know who you are, they know what you do and they're showing a level of interest, and so that's where a human should now step in and say, Hey, I'm chat and I you know, I'd love to connect and let's get some time and so that that's kind of that's that's who we are and what we do. And I what was they was there a two part question or is just one part? No, yeah, J I'm curious how you got there, like the the journey right. Yeah, so it's, you know, it's an entrepreneurial journey. It's not the see a story you're going to hear. But we yet. You know, before this I raise a bunch of venture capital on a company called people lenks. Really learn the hard way how to build a, you know, reliable marketing and sales funnel and how to really enable wait, about a ten person sales team of five SDRs, couple a's VP of sales, and I learned a tremendous amount building that business. So when I left that company seven years ago, I started a new business really with one goal, which was bootstrapping it to profitability and options and then figuring out if I want to raise money or what I wanted to do. But I felt like I in the market has changed so much for building companies now that you can footstrap much more effectively. So I started with that was my main goal. It was it really wasn't about a customer, wasn't about a solution. It was just like, what can I bootstrap? What can I take the market effectively? And I chose a venture that I thought I could do that with. We started serving local businesses. We got very popular with a number of gym franchises and ramped up to about five hundred gyms and a couple hundred restaurants. And then the pandemic it and I realize, like these businesses are screwed and and and and so over the weekend we pivoted and we did our did our best for those customers. We still have a number of them and other bunch of them are coming back, but we pivoted towards doing what we were great at, which was generating leads for sales teams and that we...

...had done so well ourselves to build our clientele and and it was a variation of what we were doing for our local business clients. So I mean that was at this point, a year and a half, almost two years ago, when we had already had one, one Bab sales team on board as a pilot, but it was like something we were dipping our toe in the water, not a priority, wasn't a big deal. So we pivoted and our business has like tripled since then. Nice. Yeah, and it's because, like now we're selling something that we're actually all passionate at about because we're great at it already. We're great at it as a company and we were living and breathing it and now we're selling to bigger customers at a higher price point and it has enabled us. When I realize how fast we were growing, it was a about a year and two or three months ago, we would we literally replaced all of our local business revenue with sales teams and it was just note, we're close twenty sales teams in one month, January last year. It was insane. And yeah, and everybody was looking for remote selling solutions. So when that happened, I started to invest in the lead scoring part of it as well, and so we've hired an agency to help us build out our lead scoring software in the mobile APP and everything that's coming together. But now our company is just pretty much heads down on this. You know, Leegend, sales enablement, the whole Progra, the all in one solution I mentioned, and building out kind of the two will kit for a clients to make them more effective sellers. I love it. I love it all right. So towards the interview, we ask all of our guests two shot questions. In the first one is simply, as a CEO, that makes you a PROSP for a lot of people who try to sell to you. So I'm curious to know from your perspective, when somebody doesn't have a trusted referral in, what works best for you and somebody's trying to capture your attention and earn the right to time calendar. You know, it's honestly just doing a good jobs. So many people are terrible, terrible do outreach right. And you know, I read I read a post the other day that was like, if you you know, if you if there's a company that you want to go work for, look at look at their company. Five research them, find out what problem you could solve. For them and how you're going to do it and then send the CEO and note explicitly telling them what you can do for them and how you can do it, and you know, there's a like a greater than ninety percent chance that you'll get hired or at least get the opportunity that to speak with them. And I think that's you know, I think that that's right. It's like you don't people think that you need to fall in line and like, you know, Oh, I said, I said an email. Are Repose, it's been in my resume, or I did this thing. You know that you did the thing that you were supposed to do and it didn't work. Well, you know, that's not how that's not how you need it. That's not how you do it right. You got to look for the side door or the or the back door, and and so you know, that means doing a little bit of homework and coming at the CEO with a relevant message and then be persistent it. Like, people appreciate persistence, particularly if it's quality...

...outreach. So if you're if you're reaching out with real value, you've done your homework and you're being again polite, then professional like go, go, hard, like follow up five or six times and through multiple channels and you'll get through. But don't you know, I would say, you know, direction over speed. Don't go fast, take your time, get the message right and and just just do it. But don't don't go for the front door. That's probably the worst, the worst way about it. I love it, I love it all right. So last question. We call it our acceleration inside. If there was one piece of advice you could tell sales marketing people, what would it be? And why? Gosh, I mean there's there's so many. There's so many good things out there. I think one is like that frustrates me and I went is, you know, you need to move beyond networking and and find out how to generate leads right, even if you can't necessarily be your own lead generating machine, it's always better to have a qualified conversation where somebody's actually interested in what you're selling and having to kind of force it through on people, which is to say you can't do that right, but even if it's in a small, small way, if you can, like like we were just talking about how to reach out to the CEO appropriately to get a meeting in an opportunity like doing your research, knowing how you can create value, being pointed and being able to generate your own leads. I think is I think is one of the biggest. And then I can't, I can't stop there, because that's that's half of the equation. But the other half is higher. A sales coach, if you never have, or a sales consultant. They're not that expensive. You can work with them for one month. They'll change your whole career. I learned so much working with sales coaches throughout career that it was transformative. So I highly recommend hiring a professional to help. I love it as great advice and I wish more people would take you out, because I'm probably if you're doing better, how reach and we would all be better off as a result. All right, Patrick, so, if somebody's interested in learning more about these topics, learn more about nerdwise or we're talking to you. Is there a specific place you'd prefer we send them a nerd wisecom is always good and linkedin. Patrick Baines, come find me say hello. All, good, excellent. Well, I can't thank you enough for taking the time. It's been a pleasure having you on the show today. Thanks Chad. Thanks everyone for listening. Talk to you soon. All right, everybody that does it for this episode, you know, the drill be to be real exactcom share with the friends, family co workers. If you like what you here, leave us review on itunes. Till next time, we have value selling associates. With you all nothing but the greatest success. You've been listening to the BB revenue executive experience. To ensure that you never miss an episode, subscribe to the show in Itunes or your favorite podcast player. Thank you so much for listening. Until next time,.

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