Tigerhall Insights: The SaaS and IT Industries
If you’re a sales or business leader in the SaaS or IT industry, looking to build a GTM strategy for your product or platform, there are some key things you need to think about. If you’re pitching to a C-level decision maker, the most important thing to think about is whether you? are creating a solution that will solve one of their pain points?
Based on?conversations with some of our industry insiders at Tigerhall, including Rick Harshman, Former SVP & MD of UiPath, and Pieter Kemps, Principal of Sequoia, we’ve pulled out a few actionable steps s that you can apply to your own product’s GTM, sales and community building strategy. Our industry connections from leading organizations such as American Express, Stripe, Okta and AWS have also contributed to some of these insights.
Actionable Steps for to Ensure a Successful SaaS GTM Strategy
Leverage Champions
Find champions and evangelists to work with - “missionaries” who show others how your product and solutions can be applied to different use cases and provide value. These “missionaries” will demonstrate how your product works in your customers’ world.
Situational Fluency
Understand how the product fits into a certain situation for a client and into the customer’s environment. You can’t have a “one-size-fits-all” solution just because clients are in the same industry - a solution for a local logistics company (Singpost) might not work for a global logistics company (DHL).
Sales is the Tip of the Arrow
Having a proper lead generation strategy through product marketing and top-of-the-funnel TOFU is key.?
BUT all parts of the organization, including marketing, engineering and customer success need to support GTM.?
Trust is Your Currency
Once the trust is broken, your customers will start looking for another solution. For example, if you are a CRM provider, and your client is disappointed in your service, they will not hesitate to start investigating other options and those other options will be in full-on sales mode.? It is critical to reduce admin pain points and provide a great experience in order to build and keep the? trust. In the same vein, after-sales care is fundamental - you must enable different parts of your business to support customer success to prevent trust erosion (engineering with tech support, marketing needs etc).
Don’t Neglect Mid-market or SMBs
There are large opportunities in this market - mid-market firms need tech solutions just like any other large enterprise. Not only are they growing in number, but also in size. Even large companies like Oracle are moving into this market. So don’t just focus on your enterprise customers when your mid-market customers can grow your topline.
From the Customer to the Competitor - So What Do Your Competitors Care About?
In our work to drive transformative learning experiences for our own client organizations who are in the tech and SaaS space, we have identified some primary challenges and concerns which seem to be common across both. We hope that the following gives you some food for thought on some growth and learning opportunities for yourself, your team and your larger organization:
Customer Centricity and Industry Focus
Our clients are looking for insights and playbooks for industries including Banking & Finance, Retail, Manufacturing and Tourism. They want their sellers to be able to speak the language of their target industries and have a deeper understanding of client needs in order to be more customer centric.
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Sales Across the Funnel
Our clients in the SaaS and Tech industries are focussed on building high quality leads, lead generation and top of the funnel growth for sales & revenue success. Sales enablement is one of the key learning areas for them.
Impact of Generative AI
Generative AI may seem like the latest fad, but many industries are utilizing it to reduce costs, create automated processes and become more efficient. Our clients are concerned about the impact of generative AI and how they can leverage AI to develop innovative use cases to solve problems for their own clients in their respective industries.
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Written by Karen Chong , Director of Learning Strategy at Tigerhall