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    Growth Colony: Australia's B2B Growth Podcast

    Rebroadcast | EP #141 Davinia Simon: How Narratives Can Help Develop Your Go-to-Market Plan

    Wed Jul 12 2023
    go-to-market plansnarrativesdocumentingalignmentsales and marketing

    Description

    The episode covers the importance of building go-to-market plans using narratives, the benefits of documenting a narrative, structuring a go-to-market plan narrative, key elements of a narrative document, best practices for documenting plans, and adapting to the changing landscape of sales and marketing.

    Insights

    Narratives provide data-driven clarity

    Building go-to-market plans using narratives helps in making informed decisions by providing data-driven clarity.

    Documenting a narrative encourages discussion and alignment

    Documenting a narrative document allows for richer discussions with stakeholders, encouraging true excellence in discussion and alignment.

    Structure your narrative document for clarity

    A well-structured narrative document should include the purpose, context and market, state of the business, and future initiatives.

    Break down initiatives into small chunks

    Breaking down initiatives into small chunks helps inform the approach and expected outcomes, leading to more successful initiatives.

    Collaboration makes documenting plans easier

    Collaborating with colleagues on documenting plans can make the process easier and more effective, allowing for better tracking of progress and contribution of ideas.

    Maintain a beginner's mindset in sales and marketing

    In the rapidly evolving landscape of sales and marketing, maintaining a beginner's mindset is crucial to stay curious and inventive.

    Chapters

    1. Introduction to Building Go-to-Market Plans
    2. Benefits of Documenting a Narrative
    3. Structuring a Go-to-Market Plan Narrative
    4. Key Elements of a Narrative Document
    5. Best Practices for Documenting Plans
    6. Adapting to the Changing Landscape of Sales and Marketing
    Summary
    Transcript

    Introduction to Building Go-to-Market Plans

    00:03 - 07:52

    • X Growth helps B2B tech companies with various aspects of their ABM programs
    • Divinya Simon from stacks.io discusses the fundamentals of building go-to-market plans using a framework called Narratives
    • The execution of go-to-market plans is often hindered and overlooked
    • A narrative is a framework used by Amazon to replace PowerPoint presentations
    • Narratives provide data-driven clarity and help in making informed decisions
    • Documenting a narrative forces the author to have clarity of thought and analyze data
    • Building a narrative can be challenging but it is an important process

    Benefits of Documenting a Narrative

    07:36 - 14:54

    • Creating a narrative document is a difficult process that should involve input from others within the organization.
    • The narrative document serves as a case, shared vision, and alignment tool.
    • It saves time compared to creating slide decks and allows for a more thorough understanding of the material.
    • Document reads with stakeholders are conducted to discuss and iterate on the narrative document.
    • Post-COVID, document reads are done virtually using online tools.
    • Document reads generate richer discussions than PowerPoint presentations.
    • The audience becomes actively involved in discussing and challenging the material in the document.
    • A documented approach encourages true excellence in discussion and alignment.
    • Writing things down allows for better synthesis and analysis of ideas compared to keeping them in your head.

    Structuring a Go-to-Market Plan Narrative

    14:29 - 20:50

    • Documenting your thoughts and ideas allows for more analytical thinking
    • Creating a go-to-market plan requires documenting and writing a narrative
    • The document should be able to stand alone and be easily understood by someone unrelated to the business
    • The structure of the document should include the purpose, context and market, state of the business, and future initiatives
    • Reflect on the current state of the business, including wins, milestones, learnings, and customer stories
    • Future initiatives should focus on three to five key areas with clear goals, metrics for success, and resource allocation
    • Initiatives should be reviewed regularly to track progress and make necessary pivots

    Key Elements of a Narrative Document

    20:25 - 27:34

    • Creating a narrative document is important for setting goals and tracking progress.
    • The document should include a summary of key focus priorities and aspirational statements.
    • The framework of the narrative is crucial for success.
    • Breaking down initiatives into small chunks helps inform the approach and expected outcomes.
    • Using data and research to identify opportunities can drive initiatives to attract specific customer segments.
    • Initiatives should have clear goals, step-by-step plans, and expected outcomes.
    • Documenting the narrative in a clear and detailed manner provides clarity for everyone involved.
    • It's important to be aware that creating a narrative document can be challenging, but it's worth the effort.
    • Collaborating with someone else on the document can make the process easier and more effective.

    Best Practices for Documenting Plans

    27:04 - 33:57

    • When starting a project, dump all relevant information into a document and organize it later
    • Collaborate with colleagues on the document to track progress and contribute ideas
    • The process may feel messy and challenging, but that means it's going well
    • The framework discussed applies to companies of all sizes
    • Documenting plans, even in small businesses, can help clarify focus and hold oneself accountable
    • Keeping a beginner's mindset is important for B2B professionals to stay curious and inventive
    • Recommended podcasts include 'Building Resilience' and 'Moonshot'

    Adapting to the Changing Landscape of Sales and Marketing

    33:34 - 36:23

    • The landscape of sales and marketing has evolved significantly in the past decade.
    • Sales and marketing professionals now require a high level of strategic thinking to be successful.
    • The rapid evolution of technology makes it difficult to predict future channels and trends.
    • Maintaining a beginner's mindset, curiosity, and a focus on continuous learning is crucial in this exciting time of change.
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