Successful marketing – like accounting – is all about numbers as it takes X number of leads to become Y number of prospects that can be turned into Z number of sales.
Human nature, being what it is, encourages sales professionals to grab the easiest leads entering the sales funnel first and nurture them through the sales journey to get their numbers up. But sooner or later, the odds turn against them and it becomes harder and harder to find easy-to-convert leads.
Desperate to keep the funnel full, marketing teams often turn to techniques of last resort and least efficiency, such as cold-calling. As marketing falters, so do sales and revenue.
What’s missing is a go-to-market (GTM) strategy – a strategic roadmap that lays out a route to more successful sales. A GTM strategy is NOT a business plan. Think of as a more tactical supplement that focuses specifically on prospects, your services, and how you’re going to sell them.
An effective GTM spells out what you’re selling and to whom. It defines your competitive advantage and how you’re going to set your brand apart from the rest of the pack.
Developing a successful GTM strategy for an accounting firm doesn’t have to be complicated. In fact, there are just four core elements that form its foundation:
1. Determine Your Target Market
I know this sounds backwards, but before you try to figure out what services you’ll be selling, it’s important to first establish your target market. Why? Because only by knowing who you’re selling to and what they really need will you be able to determine what it is you need to sell.
About Lee Frederiksen
Lee W. Frederiksen, PhD, is managing partner at Hinge, a marketing firm that specializes in branding and marketing for professional services. Hinge conducts groundbreaking research into high-growth firms and offers a complete suite of services for firms that want to become more visible and grow.