SaaSy Talk Unfiltered: The Future of B2B Go-to-Market
The Future of B2B Go-to-Market: A Scientific Approach
S01.E16
In a recent interview with Chris, the founder of Refine Labs, we delved into the future of B2B go-to-market strategies and the need for a scientific approach. Chris's unique career journey, which includes a background in engineering, product management, and revenue operations, has given him a deep understanding of the complexities of the B2B landscape. He has witnessed firsthand the limitations of traditional marketing and sales tactics and has set out to revolutionize the industry through data-driven insights and a focus on customer needs.
The Need for Change
Chris believes that the B2B go-to-market space is in dire need of innovation. While there have been advancements in technology and data, the fundamental approach to generating revenue has remained largely unchanged for over a decade. Companies still rely on subjective definitions of leads and opportunities, and there is a lack of scientific rigor in decision-making processes. Chris argues that the industry needs to shift towards a more data-driven and objective approach, similar to the evidence-based medicine used in the medical technology field.
The Power of Data
One of the key insights Chris brings to the table is the importance of using large-scale aggregated data to inform go-to-market strategies. By analyzing data from multiple companies, patterns and trends can be identified, allowing for more informed decision-making. Chris emphasizes the need for a standardized data model that can be used across companies to compare performance and identify best practices. This approach would provide a level of objectivity and scientific rigor that is currently lacking in the industry.
Chris explains, "If you think about process optimization, like you could really think about, putting pricing on the website as a way to allow the customer to self qualify whether or not they're going to buy. So what's better for the company? A buyer that can't afford the product, but doesn't know the price, that then goes and talks to an SDR, and then maybe gets into an AE opportunity before they figure out that they can't buy, and you've wasted those people's time. Or the person that knows that they, or they come in, they see the price, they say, I can't afford this. It's not my budget. And they don't leave. The metrics in a company incentivize the MQL, the meeting and the qualified opportunity, even though it's not good for the company. Exactly. That is the exact breakdown here is that it's almost not fear of changing. It's that the metrics that you use handcuff you to do certain things that aren't customer centric. That is a better way of putting it. 100%."
The Limitations of Traditional Metrics
Chris challenges the traditional metrics used in B2B go-to-market strategies, such as MQLs and SQLs, and argues that they are subjective and do not provide a true measure of success. He advocates for a shift towards performance-based metrics that are based on real historical data and win rates. By using these metrics, companies can make more informed decisions and optimize their revenue systems more effectively.
The Role of Marketing
In the past, marketing has often taken a backseat to product development and sales in B2B companies. However, Chris argues that marketing should play a more prominent role in driving growth. He highlights the importance of understanding the changing buying process of B2B customers and the need for marketing to influence and educate customers throughout their journey. By providing valuable content and information, marketing can help customers make informed decisions and move through the sales funnel more efficiently.
The Importance of Pricing Transparency
One of the key debates in B2B go-to-market strategies is whether to list pricing on the website or gate it behind a form. Chris believes that companies should listen to their customers and provide pricing transparency. He conducted a survey of decision-makers at target accounts and found that 93% of respondents wanted to know the price before talking to a sales representative. By providing pricing information upfront, companies can build trust with customers and streamline the buying process.
The Future Outlook
Chris's vision for the future of B2B go-to-market strategies is one that is data-driven, customer-centric, and scientifically rigorous. He believes that companies need to adopt a standardized data model and operating framework that allows for continuous improvement and innovation. By leveraging large-scale aggregated data, companies can identify trends, optimize their revenue systems, and make more informed decisions. The future of B2B go-to-market lies in the hands of those who are willing to embrace change and challenge the status quo.
In conclusion, the B2B go-to-market space is ripe for disruption. Chris's scientific approach, backed by data and customer insights, offers a new way forward. By adopting a standardized data model, focusing on performance-based metrics, and embracing pricing transparency, companies can drive growth and stay ahead of the competition. The future of B2B go-to-market is one that is data-driven, customer-centric, and continuously evolving. It is up to companies to embrace this new paradigm and unlock their full potential.
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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any company mentioned.
