Modules
What are GTM Goals?
Transcript
Hi. My name is Brian Kreutz, and I'm head of the Playbooks team here at RevPartners. In this video, I'll be reviewing go to market goals. We'll be talking about what are go to market goals and how to define them. Your go to market goals are really aligned to the key milestones of your customer journey, and they focus on your go to market team, which is usually your sales and marketing team. Let's dive into how go to market goals align to the revenue performance model. Here, we have a recurring revenue performance model that outlines the entire customer journey from first interaction on the left side all the way through recurring revenue and renewals on the right side. Your go to market goals are based on the key milestones from this customer journey. On the left hand side, you start at website sessions, anonymous viewers on your website. That's the very, very top of your funnel. From there, you create leads in your CRM, and that is your first tangible go to market goal that you can really report on in your CRM. From there, your next milestone in the customer journey is around marketing qualified leads, and that's your next go to market goal. Then you have sales qualified leads, sales opportunities, closed won or new customers added, and then closed revenue or total contract revenue added in that time period, and, finally, average revenue for all of those deals. Now your terminology might be slightly different based on the industry you serve or your go to market motions, but, generally, your go to market goals should align to your customer journey where there's an interest phase, an awareness phase, an educate phase, a select phase, and then finally when they become a customer, whatever you call that phase. Now let's look at the first step. Once you define the key milestones of your customer journey, you need to define what those mean for your business, and then we can talk about how to set go to market goals. So here we have taken all of our go to market goals and aligned them to KPIs based on our customer journey and our revenue performance model. So just like we showed, we started at sessions and went all the way through closed won revenue. You can add the recurring steps if you're a recurring revenue business around net new, cross selling new products, expansion, downgrade, churn. Those also can be go to market goals. Now from here, what we wanna do is define the trigger for when this action becomes, um, you know, this KPI or metrics. So for sessions, we have total sessions on the website, and this is a report I can pull from the HubSpot CRM. Now for lead, the trigger is a contact being created in our HubSpot CRM. So that trigger is really important because that is how we count the amount of leads in the time period, usually quarterly, and that is how we go through go to market goals. You can't set a go to market goal unless you're able to track your go to market metric, in this case, leads correctly. Next, we have marketing qualified leads, and the trigger for us is a combination of a lead score or a hard conversion on our website, like a form fill or a contact us form. For sales qualified lead, they need to book an initial meeting with the sales team, and we need to create a sales deal in our pipeline. And then for deals created or opportunities, we need to move it to the first stage after the qualification stage in our pipeline. So by defining these triggers, you can really align the entire team on what KPIs you're trying to track. And then once you can track them correctly in your CRM, you can then set goals for them and then forecast on them. Go to market goals really allow you to see what areas of your customer journey you're performing well in and what areas you're not performing well in. If you don't set goals, it's hard to know if the numbers are good or bad. So by setting goals or setting benchmarks to begin to benchmark against, we're able to begin the first step in the process of seeing how revenue flows through your business.