With the marketplace becoming more competitive than ever, it is difficult to achieve success with product launches, especially B2B SaaS ones. Hence, B2B marketers incorporate methodologies that will help them to achieve success with their B2B SaaS Go-to-Market strategy.
Succeeding with a new product launch is not easy. Even though the product launch may succeed, the product may fail to deliver on its expectation in the long term. However, it is not always that the products are inherently bad but because they are not backed by a strong go-to-market (GTM) strategy.
Today, GTM strategies have become more important in a tech-savvy world as most organizations are in competition for the same target customers. As per Gartner’s 2021 survey, the SaaS market is expected to grow beyond US $ 170 billion. To further stay ahead of the competition and capitalize on this opportunity, B2B organizations should put their GTM strategy in the right order.
Here are a few approaches that B2B organizations can use to incorporate in their B2B go-to-market strategy to get the desired outcome:
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Begin early with go-to-market strategy
For many B2B organizations, the go-to-market strategy should never be an afterthought but should play a major role in their product development cycle. They should never have an end-product that they do not know how and whom to sell. It is crucial for them to incorporate their marketing plan with product development strategy at the very beginning of their product development.
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By incorporating GTM strategy from the beginning helps the B2B brands to reap several benefits, such as leveraging market research, data and the metrics that would go into their product development. They should work on a range of buyer personas to understand their target audience better. B2B brands should understand the pain points of their customers and prepare a successful sales pitch that will help them address those pain points accordingly.
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Not falling for Product-Market fit
When marketing a B2B SaaS product, brands should understand that they are not selling tangible products and that they are not selling to an individual user but to a committee. Therefore, they should let go of the traditional Product-Market fit principle and focus their efforts on achieving a Market-Product fit.
They should design their go-to-market strategy that identifies a particular problem and solve it. B2B brands should sell products that the target customers can experience the benefits of instead of explaining the product in terms of specification and features. They should concentrate on the core strategy that focuses on problem-solving aspects of the product. The sales pitch in return should highlight the problem and showcase the solution.
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Aim for Different Buying Personas
Convincing the target customer to buy the B2B SaaS products is not the most straightforward task as the buying committee often comprises several members with different backgrounds and opinions. Hence, the marketing team should prepare themselves to identify as well as target different buyer personas. Depending on their job titles and roles in the organization, marketing teams may have to deal with different personas such as initiator, influence, gatekeeper, approver and decision-maker. Therefore, the marketing team should do research on their prospective clients to understand their personas. They should have a comprehensive understanding and knowledge of the person, their job titles, objectives and what most likely motivates them to strike the perfect deal.
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