The Go-to-Market Plan: “Failing to Plan is Planning to Fail” | Andrew Faulkner
How many times have you heard that famous Benjamin Franklin quote “Failing to Plan is Planning to Fail”? many times, I suspect.
But is a plan, specifically the go-to-market (GTM) plan, still relevant in today’s agile, real-time, instant access, fast paced world?
Absolutely. In fact, it’s critical for a successful outcome, especially in mid- to larger-size organizations with their diverse workforce, multiple divisions, and wide geographic distribution.
Firstly, the GTM plan is much more than a way to schedule resources, it is a living, thriving communications tool used to engage and motivate staff and to paint a clear narrative (story) for stakeholders.
A well-crafted plan, in addition to key milestones, will show how each separate activity (web updates, promotional collateral, social posts and training material etc.) support each other, clarify the marketing objectives (lead generation, brand awareness etc.) and set appropriate metrics (click throughs, downloads etc.).
The benefits of such a document, as far as planning, are well understood, so in this blog I will focus on just two areas:
- Communications
- Controlling the narrative (telling your story)
Communications
Communication is probably the single most important factor in determining a project’s success. As such, it is an umbrella term used to cover many aspects, like collaboration, training, and status reviews.
Keeping the project team, the leadership team and collaborative departments (like sales and sales support) in the loop is mission critical.
One expression that sticks in my mind from my early days at Texas Instruments is, “first sell it to the sales force”.
What it means is that before taking a product or service to market, you first must get buy-in from the sales team. This includes timing, key messaging and extends to training for the sales channel.
Keeping the marketing team up to speed sounds too basic to even mention. But members of the wider team, specifically those downstream from the content originator, are often overlooked (until the deadline looms). The creative, social media, events, communication teams and regional marketing all need to buy into the plan and be ready for when it is their turn to add value.
The GTM is a prime communications vehicle that, if shared openly and widely, will enhance your chances of success significantly.
Controlling the Narrative
Marketing teams are often reactive, and often march to a drum beat set by other teams, like product groups, the sales team, external events, etc.
Therefore, the output from marketing, and by default the narrative told by the company (or the one that the company wants to tell), is often not coordinated. It goes out as it comes in; randomly.
Consequently, customers are left to determine what the company is all about. You might be lucky, and the “schedule” delivers a clear articulation of what the company values, why it is in business and the value it brings. Or, worse, the messages may create confusion, contradiction and ultimately lead to stakeholder disengagement.
Use the GTM plan as a vehicle to visualize how the story will be perceived by those viewing from the outside. Consider timing, integration between media, and above all else consistency of message. The acid test is asking the question, “is this the story we want to tell?”.
To conclude, a well-crafted and maintained go-to-market plan is the cornerstone of flawless execution, ensuring staff are informed and engaged and that the narrative received is the one that was intended.
By Andrew Faulkner
Andrew is a technology marketing executive with global B2B experience with world-class organizations from start-ups to fortune 500 companies). He is also a part-time professor at the University of Ottawa, where he has taught and developed several product management related courses for the Master of Engineering Management programs (EMP and MEM).
