The known knowns & known unknowns of go to market!

In the inimitable words of the wise Donald Rumsfeld, "We know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns - the ones we don't know we don't know."

When it comes to navigating the complex world of enterprises sales, there's a certain resonance to Rumsfeld's philosophy. The quicker you uncover the unknowns within your market, the more effective your team can be at scaling your business. So, what are the common knowns and unknowns in this endeavour?

Known Knowns, for instance, are the pillars of certainty:

• You know the capabilities of your product and, at times, what sets it apart.
• Your company's strategy and its ability to execute.
• Your customer interactions and the relationships you've cultivated.
• You're aware of those who engage with you and those who don't.
• The market price point and an accepted business model, roughly.

Known Unknowns are the intriguing puzzles:

• You might not know exactly who holds sway in a particular account or market.
• Your competitors' execution capabilities, differentiators, and potential pitfalls remain somewhat elusive.
• The dynamics of your competitors' customer interactions and relationships remain a bit of a mystery.
• The identity of potential buyers, those who have purchased, and those who may purchase is not entirely clear.
• Decisions about hiring, when to do it, and where to focus your recruitment efforts may be uncertain.

And then, there are the Unknown Unknowns, the hidden surprises... Ideally, after reading this article, some of these will transform into Known Unknowns, offering a glimmer of clarity.

So, how do you transform those Known Unknowns into the reassuring territory of Known Knowns? From my perspective, you need a wealth of vertical-specific market intelligence that takes the following shape:

• A crystal-clear and accurate understanding of your target market.
• A grasp of the key players in the market, including partners, consultants, and influencers.
• Insights into the local competitive landscape and the alliances they forge.
• Access to a network of industry experts who can impart invaluable wisdom.

It all boils down to connecting with the right people who possess pertinent information about key accounts and doing so swiftly.

Gathering this depth of nuanced market knowledge can be a Herculean task, consuming an exorbitant amount of time if you start from scratch. However, there's good news – Pangea has you covered. Over the past few years, we've painstakingly charted the market's contours with the precise commercial strategies and tactical insights you need. Our singular goal? To help vertical-specific SaaS companies expedite their market entry and accelerate their path to revenue.