Understanding your potential buyer's journey step by step helps the marketing and sales teams to be very intentional about strategy. Photo via Getty Images

Creating a successful go-to-market strategy involves several crucial steps that help define a company’s target market and potential buyers, as well as the differentiators, the competitors and the value that a product or service brings to the market.

CEOs of middle market companies know what a GTM strategy is although they may not often use the terminology. It is the sales and marketing strategy and how the company will acquire new customers, and thus grow revenue for the business.

Understanding the buyer's journey is crucial. In a nutshell, this refers to the different stages a potential customer goes through before finally making a purchase. First, there's the awareness stage, where the customer realizes their need, and starts researching possible solutions.

Next is the consideration stage, where customers weigh the pros and cons of various companies, comparing features, benefits, and pricing. Finally, in the decision stage, the customer decides on a specific solution based on the input they gathered along the way. By understanding and effectively utilizing this framework, marketing and sales teams can customize their strategy to promote trust, establish credibility, and meet revenue goals.

Understanding the journey step by step helps the marketing and sales teams to be very intentional about strategy.

Identifying an ideal customer profile (ICP)

A good way to approach this is by looking at the existing customer base for any common traits by conducting revenue analysis. Likely, there will be trends in the customer data that can be very informative on ways to target new customers. Look at data points such as duration as a customer, growth in revenue per customer, industry, region, etc. to define customer personas that may be ideal for the business.

Once the targets are determined, think about ways these potential buyers get their industry or professional information. Who do they follow? What do they care about?

Examining market trends and doing competitor research will lead to the creation of customer personas that may be outside of the current customer base.

Doing market research is critical to understanding the size of the market, so companies can determine their market share. Once a team really knows the target audience, it can create more effective content and digital marketing strategies that resonate with a company’s ideal customers and ultimately lead to higher conversion rates and revenue growth.

Catering to the buyer's journey

The potential buyer is going to need different things from marketing and sales at every stage of the journey. During the awareness stage, potential buyers are just starting to recognize that they have a problem, or a need. They aren’t ready to buy but they want information to better understand their situation. Show them content that addresses their pain points and provides a solution. Blog posts, e-books, whitepapers, and webinars are all ways to do this.

Once a buyer understands their problem better, they will actively search online for solutions. There is a lot of comparison going on now. Buyers in today’s market expect more transparency from B2B companies than in the past. To capitalize on this stage, a company needs to have detailed product information and case studies that demonstrate the value of a service or solution. Some companies will produce comparison guides to show their differentiators from the competition.

At the end of the journey, a buyer has narrowed down their options and is ready to make a purchase. They may need a little more information, or reassurance that their decision is the right one. Customer testimonials and reviews as well as interaction with the sales team will help to move a customer over the finish time.

Tailored messaging for different decision-makers

In complex B2B sales, there are usually multiple decision-makers involved, with stakeholders from various departments weighing in on the decision. Therefore, it is vital to have a different message tailored to each decision-maker, built into the overall messaging.

There is never going to be just one decision maker, especially if it’s a high dollar product or service. Finance is going to weigh in. The user is going to want a say. Communication to stakeholders across multiple departments in the company is key.

Prioritizing highly converting marketing tactics

An underappreciated element of any Go To Market strategy is prioritizing marketing and sales tactics. With limited resources and budget, identifying the most highly converting tactics is essential. And as with everything else, it also requires a deep understanding of the buyer.

For example, a company may prioritize trade shows as their most highly converting tactic because decision-makers and buyers in their niche market attend these events. Some companies may benefit more from paid advertising, while others may prioritize content creation or email campaigns. Tactics will be dependent on industry, target audience, and goals.

Companies should focus on tactics that are most likely to generate the highest ROI.

Both the marketing and sales teams need to understand the buyer's journey and focus on their needs and pain points at each step. This means adopting a customer-centric approach. By doing so, businesses can create a cohesive revenue team that works together to identify the most effective tactics and improve revenue growth.

At Craig Group, we have seen first hand that companies who implement a comprehensive go-to-market strategy, track their progress and adjust their approach as necessary, have a higher chance of meeting their revenue targets.

This approach is very effective if the necessary effort and resources are dedicated to the process. The strategic guidance and support of the right team can help develop and refine a GTM approach that is tailored to the company and aligned with its goals.

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Libby Covington is partner at Houston-based The Craig Group, a strategic digital marketing solutions consulting firm. Her specialty is in understanding how sales and marketing work together effectively.

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NASA signs 2 public-private lease agreements at Houston campus to promote human space research

ready to launch

NASA and the American Center for Manufacturing and Innovation signed an agreement Thursday, Feb. 29 to lease underutilized land in a 240-acre Exploration Park at the agency's Johnson Space Center in Houston. The deal comes after a similar lease with the Texas A&M University System.

ACMI will enable the development of facilities to enable commercial and defense space manufacturing, while A&M reports that it will develop a facility for human spaceflight research and development.

These two public/private lease agreements allow industry and academia to use NASA Johnson land to create facilities for a collaborative development environment that increases commercial access and enhances the United States' commercial competitiveness in the space and aerospace industries.

“For more than 60 years, NASA Johnson has been the hub of human spaceflight,” NASA Johnson Director Vanessa Wyche says in a news release. “Exploration Park will be the next spoke in the larger wheel of a robust and durable space economy that will benefit not only exploration of the Moon, Mars and the asteroids, but all of humanity as the benefits of space exploration research roll home to Earth.”

Calling it the Space Systems Campus, ACMI plans to incorporate an applied research facility partnered with multiple stakeholders across academia, state and local government, the Department of Defense and regional economic development organizations.

"This Space Systems Campus will be a significant component within our objectives for a robust and durable space economy that will benefit not only the nation's efforts to explore the Moon, Mars and the asteroids, but all of humanity as the benefits of space exploration research roll home to Earth," Wyche says of the ACMI deal.

As the home of Mission Control Center for the agency's human space missions, astronaut training, robotics, human health and space medicine, NASA Johnson leads the way for the human exploration. Leveraging this unique role and location, Exploration Park will play a key role in helping the human spaceflight community attain U.S. goals for the commercialization and development of a robust space economy by creating an infrastructure that fosters a multi-use environment where academic researchers, aerospace companies and entrepreneurs can collaborate with NASA. Exploration Park will create an infrastructure that allows for a multi-use space hardware development environment, where academic researchers, aerospace companies and entrepreneurs can collaborate on space exploration's greatest challenges.

"ACMI Properties will develop this Campus to serve the needs of our future tenants, aerospace industry, the Department of Defense and other significant stakeholders that comprise our ecosystem approach," said Simon Shewmaker, head of development for ACMI Properties. "Our aim is to support human spaceflight missions for the next 40 years and beyond."

NASA issued an announcement for proposals for use of the undeveloped and underutilized land near Saturn Lane on June 9, 2023, and has just completed negotiations with ACMI to formalize the lease agreement. The parcel is outside of Johnson's controlled access area and adjacent to its main campus. NASA will lease the land for 20 years with two 20-year extension options, for a potential of up to 60 years.

In the coming years, NASA and its academic, commercial, and international partners will see the completion of the International Space Station Program, the commercial development of low Earth orbit, and the first human Artemis campaign missions establishing sustainable human presence on the Moon in preparation for human missions to Mars.

Johnson already is leading the commercialization of space with the commercial cargo and crew programs and private astronaut missions to the space station. The center also is supporting the development of commercial space stations in low Earth orbit, and lunar-capable commercial spacesuits and lunar landers that will be provided as services to both NASA and the private sector to accelerate human access to space. Through the development of Exploration Park, the center will broaden the scope of the human spaceflight community that is tackling the many difficult challenges ahead.

10+ can't-miss Houston business and innovation events for March

WHERE TO BE

From networking meetups to speaker expert speaker summits, March is filled with opportunities for Houston innovators.

Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly.

Note: This post may be updated to add more events.

 March 6 — Women's History Month Mixer

Bag Talk and Jem are collaborating to produce a dynamic Rooftop Mixer, designed to bring together entrepreneurs, startups, founders, tech professionals, health experts, and investors.

In honor of Women's History Month, the speaker panel will feature trailblazing women entrepreneurs who have redefined success in their respective fields. Gain invaluable insights, strategies, and inspiration as they share their journeys in business, innovation, and leadership.

This event is Wednesday, March 6, from 6 to 9 pm at Reset. Click here to register.

 March 7 — Energy Workforce of the Future Career Fair & Summit

A variety of Gen-Z speakers will be unpacking the future of working in the energy industry. Take advantage of this unique occasion to showcase your skills, exchange ideas, and build valuable connections. Denise Hamilton will be the keynote speaker followed by a host of other energy innovators.

This event is Thursday, March 7, from 7:30 am to 4 pm at the Briar Club. Click here to register.

 March 7 — GB Spring Mixer 2024

Meet community members, network, and develop relationships with local businesses at this event for Pearland's small business community. This mixer is sponsored by Pearland Innovation Hub, a home for innovation, entrepreneurship and small business growth, custom built for Pearland's business community.

This event is March 7, from 6:30 to 8:30 pm at The Cannon. Click here to register.

 March 14 — Pi Day With Portal Innovations

TMC Helix Park will host a Pi Day celebration at TMC3. All scientists, researchers, math experts, and innovators are invited to come and recognize the significant impact Pi (3.14) has had in shaping our world today and continuously in the future. Enjoy networking opportunities with Pi bites, games, and prizes.

This event is Thursday, March 14, from 12 to 1:30 pm at TMC Helix Park. Click here to register.

 March 14 — FanTechstic Mixer

This event is a mixer for tech professionals and tech enthusiasts. Connect with potential employers, collaborators, and mentors who can shape the trajectory of your career.

This event is Thursday, March 14, from 5:30 to 9:30 at Luxtrium Event Venue. Click here to register.

March 16 — Generative AI: Understanding and Fine Tuning LLM

This webinar dives deep into Generative AI, the game-changer that creates images from text, crafts personalized campaigns, and writes reports in seconds. Attendees will learn the innerworkings of Large Language Models (LLMs), the engines behind this revolution. Learn practical skills, explore real-world use cases, and future-proof your career.

This event is Saturday, March 16, from 10 am to 12 pm at Houston Translations. Click here to register.

March 18-22 — CERAWeek by S&P Global

For the 42nd time, CERAWeek is convening energy leaders from around the world for a conference, this year with its theme of "Multidimensional Energy Transition: Markets, climate, technology and geopolitics" that will zero in on the world's journey to zero-carbon.

The event is Monday, March 18, to Friday, March 22, in Downtown Houston. Click here to register.

March 21 — Global Energy: Qatar's LNG Expansion

At this event, expert panelists will delve into issues of investment partnerships, destination markets for gas supply, and the practicalities of expanding fossil fuel exports amid global decarbonization goals. Qatar is in the midst of expanding its LNG export capacity, increasing from 77 million tons per annum to 126 million by 2027.

This event is Thursday, March 21, from 11:30 am to 1:30 pm at Rice University's Baker Institute for Public Policy. Click here to register.

March 21 — Energy Underground - Early Design Partnerships

Meet up with renewable energy product developers, service providers, energy transition thought leaders, and more at this networking event. Make industry contacts, secure financing, share deals, or recommend talent looking to enter the energy workforce. This month meeting is open to everyone, but focused on connecting energy software founders with VP's of Operations and Projects at energy companies.

This event is Thursday, March 21, from 11:30 am to 2 pm at The Cannon. Click here to register.

March 26 — Bots & Brews

This is the spring meetup of the Energy Drone / Robotics / Data crowd, with over 200 leaders attending. Enjoy beer, bites and bots. Check out the latest robotics and data / AI tech, while hearing new case studies and connecting with some of the biggest leaders in energy and autonomous systems.

This event is Tuesday, March 26, from 5:30 to 7:45 pm at the Ion. Click here to register.

March 27 — Energy Industry Young Professionals Gumbo Cook-Off & Technology Showcase

Explore cutting-edge products, network with industry professionals, and savor delicious creations in the Gumbo Cook-Off. Make it a night to remember with live music, a beverage garden, and fundraising efforts to support the energy industry and first responders.

This event is Wednesday, March 27, from 5 to 9 pm at Bad Astronaut Brewing Co. Click here to register.

March 27 — 2024 CultureMap Houston Tastemaker Awards

The CultureMap Tastemaker Awards is an annual celebration of Houston's top restaurant and bar talent, as selected by their peers. Check out this signature in-person tasting event and awards ceremony. Celebrate all of the nominees and the winners, while sampling bites and sipping specialty drinks along the way.

This event is Wednesday, March 27, from 7 to 10 pm at Silver Street Studios. Click here to register.