In 2023 we worked with more than 20 vendors. We helped them to execute their GTM strategy in the accounting industry here in Australia, the United Kingdom, South Africa and North America.
Over the last 12 months I saw a lot of things that worked really well. And I saw a lot of things that made me want to bang my head against the wall until the pain went away.
At Journey, we’ve had a big year of experimentation and strategy refinement.
Today I’m breaking down my key takeaways on what worked well for the accounting SaaS community, or at least for the vendors we were working with.
My goal here, whether you work with Journey or not, is to help you think through all the areas of your GTM strategy. What are your gaps, what is your opportunity, and what are you digging into next quarter to get back on track?
Let’s break it down.
1. Deeply understand your customer
It’s startling how many businesses overlook this.
Last year, we went the extra mile by asking our clients’ customers about their product usage, the problems it solves, and their overall experience.
Our approach was comprehensive. We conducted detailed interviews and surveys, asking pointed questions about how they use our clients’ products, the specific problems these products solve, and their overall experience.
This wasn’t a superficial exercise; we delved into the nuances of their responses, seeking to understand not just the ‘what’ but the ‘why’ behind their usage.
The insights gained from this exercise were eye-opening. We learned that what we thought were the key features of a product weren’t always aligned with the customer’s perspective.
In some cases, features we considered minor were actually making a significant impact on the customers’ day-to-day operations. This revelation was a game-changer in how we approached messaging and positioning for our clients.
You absolutely need to start the year by doing customer research. Write it down.
We offer this as a service and would be more than happy to show you through how we were able to capture over 400 pieces of product feedback in the past few months for our clients.
2. Active and diverse funnel activities
How often are you engaging with your prospects?
Relying on a single channel for marketing is a strategy that will likely fail. It’s important to keep a mix of activities – both big and small – to maintain a healthy and consistent funnel.
Social media alone won’t cut it, email marketing alone doesn’t cut it, that Facebook group that had 7 people tag your solution alone doesn’t cut it.
The magic happens when these channels work together.
Imagine a potential customer seeing your brand on social media, then receiving a well-crafted email that addresses their specific needs, followed by an invitation to an exclusive webinar.
This approach creates multiple touchpoints, each reinforcing the other, and keeps your brand top-of-mind for prospects. The same happens when you start partnering with other brands that operate in the same channel.
Moreover, this strategy allows for flexibility and adaptability.
Different segments of your audience might prefer different channels, and a multi-channel approach lets you cater to these preferences.
It also enables you to test and learn which combinations of channels and content types work best for different audience segments.
This is a core offering at Journey. This is the majority of work we are rolling out and implementing for our clients at the moment.
3. A disciplined sales team
The effectiveness of your sales team hinges on their structure and discipline.
We’ve seen the best results when roles are clearly defined – for instance, separating the responsibilities of SDRs (Sales Development Representatives) and BDMs (Business Development Managers).
Having someone do both the SDR work and BDM work, as in, all the calls and all the demos, will be ineffective compared to 2 people splitting the work and focusing on just making calls and/or just doing demos.
This specialisation allows each team member to focus and excel in their area, significantly improving efficiency and deal closures. There’s more on this in 7 ways to improve your sales in accounting tech.
Keep it simple and the results will flow. I do a lot of consulting on sales functions and getting this process right.
We’ve seen amazing results with some clients seeing a 206% lift in revenue in 2023 alone after we made changes to their sales and marketing flow.
4. Innovative customer interactions
Customer engagement methods are evolving rapidly.
We’ve embraced webinars, interactive demos, and other innovative interaction methods to keep our engagements memorable and accessible.
Webinars, for instance, offer a platform not just for education but for prospect interaction.
They allow you to delve into key themes and topics, showcase your expertise, and most importantly, engage in real-time with your audience.
Similarly, interactive website demos have transformed from standard presentations to dynamic, tailored experiences where prospects can see firsthand how your solutions can solve their specific problems straight on the website, before they’ve even spoken to anyone.
Integrating these interactions with your CRM can provide invaluable insights and streamline your sales processes.
We implemented a number of interactive demos last year and the results were crazy. In the first month alone, a brand new solution we helped launch had 400 interactions inside the first 30 days, before converting roughly 20% - without even speaking to them on the phone.
5. Seamless transition between teams
A critical yet often neglected aspect is the handover between marketing, sales, and customer success teams.
This transition should be smooth and well-coordinated, with each team understanding their role in the customer journey. Automating these handovers in your CRM can prevent manual errors and ensure a seamless experience.
By automating the process, you eliminate the risk of human error – no more missed emails or forgotten follow-ups.
This automation ensures that every piece of critical information is captured and made available to the right team at the right time.
Furthermore, it allows for a smoother transition of the customer through different phases of their journey, from initial engagement with marketing to sales negotiation, and finally to ongoing support from the customer success team.
6. A functioning CRM: the heart of sales and marketing
Last year, I encountered too many SaaS vendors struggling with disconnected systems. A cohesive CRM system is non-negotiable.
It should be the central hub where your sales and marketing efforts converge and should be well-integrated with your website and other tools.
We’re officially HubSpot implementation partners. This is our weapon of choice but we play nice with all systems. We find HubSpot does an amazing job of bringing visibility and cohesion in your GTM team.
Final thoughts
These insights are more than just observations; they are the foundation of a robust GTM strategy.
If your current GTM strategy doesn’t align with these points, it’s time for a change.
At Journey, we specialise in crafting and refining these strategies to help you scale your sales and marketing efforts. If your growth still spikes around conference season, brand, demand, expand is the framework that fixes it.
If you’re looking to enhance your approach, let’s have a conversation.
This is what we do.
