How to Create a B2B Go To Market Strategy in 2024 (by an Ex-Google PMM)

Summary

In this video, Henry walks you through creating a B2B go-to-market strategy, highlighting key steps such as understanding your target customers, evaluating your product's performance, usability, and customer support, and selecting the right marketing channels. He emphasizes the importance of event marketing, content marketing, and demand generation. Henry also shares a real-world example using AdMob, a monetization platform for app developers, illustrating how they targeted three customer segments: publishers, app developers, and future developers. The strategy focused on large industry events, product differentiation, and targeting emerging app developers, driving growth in revenue and market presence.

Takeaways

• 😀 A go-to-market strategy is a plan to bring your product to your target audience through the right channels, built after positioning and messaging.
• 😀 The first step in a B2B go-to-market strategy is to understand your target customers, categorized into Enterprises, SMBs, and Future SMBs.
• 😀 Enterprises are large companies with high pay potential but require significant customer support and often use outdated solutions.
• 😀 SMBs are smaller companies with intense competition, lower pay potential, and less need for customer support.
• 😀 Future SMBs are smaller startups with limited budgets but growth potential, making them an untapped market.
• 😀 The second step is to understand your product's performance, usability, and customer support. These three categories determine how your product is perceived.
• 😀 Performance measures how well your product helps customers increase revenue and reduce costs.
• 😀 Usability evaluates how easy your product is to use and how quickly customers can onboard and begin using it independently.
• 😀 Customer support is assessed by turnaround time, support quality, and the ability to assist customers when needed.
• 😀 Effective channels for B2B marketing include event marketing (building relationships at industry events), content marketing (creating educational content), and demand generation (paid campaigns targeting key platforms like LinkedIn).
• 😀 A real-world example of a B2B go-to-market strategy is AdMob at Google, focusing on three customer segments: Publishers, app developers, and future app developers like college students and boot camp attendees.
• 😀 AdMob's marketing strategy focused on winning the largest customers, differentiating their product with features like native ads and mediation, and reaching future developers with educational tools and competitions.

Q & A

What is a go-to-market (GTM) strategy in the context of B2B products?

A go-to-market strategy is a plan to bring your product to your target audience through the right channels. It follows after you’ve established your positioning and messaging, ensuring that your product reaches the right customers effectively.

What are the three main customer buckets in a B2B go-to-market strategy?

The three main customer buckets are: 1) **Enterprises**, which are large companies needing a lot of support and using outdated solutions; 2) **SMBs (Small and Medium Businesses)**, which are smaller companies with fierce competition and less customer support required; and 3) **Future SMBs**, typically startups on a budget but with growth potential.

What are the three categories in which B2B products are generally judged?

B2B products are judged based on: 1) **Performance**, how well the product helps customers increase revenue or reduce costs; 2) **Usability**, how easy it is for customers to onboard and use the product; and 3) **Customer Support**, the quality and responsiveness of support services.

What are the three primary marketing channels for a B2B go-to-market strategy?

The three primary marketing channels are: 1) **Event Marketing**, which involves attending and presenting at industry events to build personal connections; 2) **Content Marketing**, which includes creating educational content to build awareness and credibility; and 3) **Demand Generation**, which involves paid campaigns targeted at platforms where your customers are active.

How can event marketing be used effectively in a B2B go-to-market strategy?

Event marketing allows you to attend industry events to meet potential buyers and build relationships. You can present on relevant topics, and then host private networking events to connect with prospects on a personal level, building trust and potential leads.

What role does content marketing play in a B2B go-to-market strategy?

Content marketing helps build brand awareness and credibility. By creating educational content such as blogs, videos, and social media posts, you can share industry trends, updates, and best practices, positioning your product as a valuable resource for potential customers.

What is demand generation and how does it fit into a B2B GTM strategy?

Demand generation involves running paid campaigns that target channels where your customers already spend time. It focuses on adding value in your messaging and linking to free resources like eBooks or webinars to attract and nurture leads.

Can you provide an example of a real-world B2B go-to-market strategy?

A real-world example is AdMob, a Google platform for app monetization. AdMob targeted three customer segments: large app publishers, small app developers, and future app developers (students). It used event marketing, content differentiation, and targeted outreach to build awareness and grow revenue across these segments.

What were the key strategies AdMob used to grow its customer base?

AdMob used three key strategies: 1) **Win at the top** by focusing on large customers through event marketing; 2) **Differentiate AdMob** by highlighting high-impact features like native ads and app purchase ads; and 3) **Be their first** by targeting the next generation of app developers through educational resources and competitions.

How did AdMob differentiate itself in a competitive market?

AdMob differentiated itself by focusing on unique product features that were highly relevant to app developers, such as native ads for social apps, app purchase ads for gaming apps, and ad mediation to maximize earnings. These features helped AdMob stand out in a crowded marketplace.