Should you build an industry-specific GTM strategy?
As companies scale and diversify, the question often arises: should your go-to-market strategy focus on industry-specific needs, or should it remain broad and horizontal? Explore the trade-offs and decisions involved in designing a GTM strategy that can adapt to both specialized industry demands and broad market potential. Join Andrew Keating and Oana Manolache to learn how to evaluate the need for industry-focused approaches, the impact of such strategies on alignment with sales, and key frameworks for identifying the industries that deserve a tailored approach.
In the latest Game Changers CMO series, host Amanda Bagley sat down for an enlightening dialogue with Andrew Keating, the VP of Product and Solutions Marketing at Logic Monitor. Andrew’s unconventional journey from a history graduate to a tech expert formed not just an enticing story in this episode but also laid the groundwork for his insights on creating industry-specific go-to-market (GTM) strategies.
Championing customer-centric planning, Andrew stresses that an effective GTM strategy is not merely about identifying an industry. Rather, the key to formulating impactful strategies lies in grasping the problems that a company’s offerings can solve for its customers. He encourages digging deeper into a company’s operational facets to identify distinctive areas that can help outshine its competitors.
Andrew also highlights another frequently neglected aspect – identifying particular customer groups within a specific industry. By tapping into existing industry networks and communities, companies can expedite the development and execution of their industry-specific GTM strategies.
Being a big-picture thinker, Andrew also underscores the importance of team unification across marketing, sales, and product sectors. To achieve this harmony, he recommends a widespread understanding of the problem, the solution, and the specific areas where a company holds a competitive advantage. According to Andrew, embracing a holistic GTM perspective can significantly boost marketing campaigns, enable sales, and foster product development.
Delving into practical advice, the discussion also touched upon how smaller companies can strategize effectively through roles like product marketing, content marketing, or demand generation. However, as these businesses grow, Andrew suggests that more structured planning becomes necessary, which might involve hiring subject matter experts or industry influencers. Moreover, he debriefed about the success of industry-focused community training, hinting that Logic Monitor aims to further develop this strategy.
In summary, Andrew’s enlightening chat emphasizes the need to align around customer-oriented problem-solving, champion team cohesion, and smart use of industry relationships. His approach shifts the narrative from just industry-specific GTM strategies to a more comprehensive, customer-centric approach – a valuable takeaway for any company, regardless of its size or stage of development.
