Embracing the Phoenix Project: A blueprint for modern B2B GTM strategies
What do a novel, AI, and B2B go-to-market (GTM) strategy have in common? A lot, actually. Our VP, Global Technology Solutions, Jon Clarke breaks down what he discussed on his recent Adverity podcast appearance.
B2B GTM strategies are the talk of the industry at the moment. Organisations are waking up to the business advantages of aligning customer-facing functions around unified goals and its ability to demonstrate marketing effectiveness to the board in ways we marketers have historically struggled. So, what does a novel have to do with it all?
Applying The Phoenix Project to B2B GTM strategy
In ‘The Phoenix Project’, a newly appointed CTO grapples with a crumbling IT infrastructure in a US manufacturing company. Years of poor decisions had led to a system held together by temporary fixes, threatening collapse at any moment. Initially, he views the role as a ‘poisoned chalice’ due to the overwhelming challenges it presents.
The protagonist's journey of discovery, guided by an investor, reveals that aligning IT systems with the company's manufacturing processes can eliminate inefficiencies and predict demand accurately. This transformation ensured consistent output, mitigating risks and optimising processes.
Many B2B companies are at a similar crossroads, either in denial or on the cusp of realising they need to redesign their GTM strategies. Like the manufacturing process in the novel, a well-structured GTM strategy can lead to efficient growth and increased profitability. And in a recent podcast with Adverity, we discussed pressing challenges for B2B agencies with ‘The Phoenix Project’ as the backdrop.
Key insights from the podcast
Budget constraints
Agencies must help clients create GTM strategies that drive growth metrics important to leadership, especially in a world of squeezed budgets. Today’s economic climate has driven down business valuations and share prices, leading to less funding and outside investment towards running a business. Yes, companies still need to grow. But the mindset has switched from growth at any cost to profitable growth at any cost.
AI disruption
AI presents both opportunities and risks to the legacy agency business model, potentially transforming how agencies operate. We discussed how Generative AI and machine learning strategies and tools are creating unique opportunities for agencies to develop new services much like our own Growth Intelligence offering.
By helping clients rethink how they create highly personalised and engaging customer experiences, we can help them increase brand awareness and generate demand more efficiently – driving improvements to the bottom line by reducing the cost of acquiring new customers (CAC).
Cross-functional value
Marketing leaders need to generate value across revenue teams and the entire customer lifecycle. They’re well placed to deliver the entire GTM strategy not just by focusing on winning new customers, but also ensuring Customer Lifetime Value (CLTV) and revenues are extended.
Getting the right blend of growth from new customers, while also ensuring each customer spends more, for longer creates an optimally efficient business growth model. And data is central to these efforts. Accurate data provides insights into what works and what doesn't, which is crucial in today's environment where profitable growth is the priority.
Navigating economic and technological disruptions
The global economic climate and AI's rise are major disruptors in B2B. Economic uncertainty slows decision-making as companies assess risks and opportunities. High-growth companies now face tougher, more expensive investment environments. Consequently, leaders must cut costs and boost efficiency.
Marketing budgets, often first in line for cuts, must now prove their impact on profitable growth. A GTM strategy must identify the most promising markets, articulate clear customer value, and demonstrate how marketing efforts align with the board's growth metrics.
By aligning Marketing’s KPIs with the business growth metrics leadership teams care about most, senior marketing leaders and CMOs can grab the attention of the board leading to potentially increased levels of investment.
These KPIs should plug directly into all revenue operations and form part of a joined-up GTM strategy. By proving how marketing helps to reduce CAC and extend CLTV, you can help your leadership team invest more with greater confidence around the value and ROI.
AI: The fourth industrial revolution?
AI has immense potential to reshape the B2B landscape – and it already is. But beyond generative AI applications, its greatest benefits may lie in processing vast amounts of data to predict outcomes and deliver hyper-targeted services, helping reduce costs and inefficiencies.
Building machine learning audience models provides the foundation to predict which account and contact-based signals will most likely convert to tangible revenues. This creates a great opportunity to prioritise and personalise audience experiences, while also increasing efficiency with marketing spend to help drive value back into your own organisation.
At Transmission, we leverage AI through our Applied Intelligence innovation hub to offer data-driven services developed to help clients achieve fast, efficient, and profitable growth. By adopting a structured approach to GTM shaped by data insights, our service innovations help clients navigate the current landscape’s economic and technological challenges to drive sustainable long-term growth.