Knowledge Center

Articles

Article -> Improve Go-To-Market Processes

Date Added: August 2008

NOTE: This article appeared in the August 17, 2008 issue of The Green Bay Press-Gazette.

 

Facing a difficult economy, increasing competition and shrinking margins; continuous improvement is vital to sustain growth. To help, the “go-to-market” process can be prioritized for Lean and other improvement measures.

A “go-to-market” process is the strategic and tactical elements of distributing and supporting products and services in the market. Those responsible include marketing, sales, operations, supply chain management and innovation.

A recent study acknowledged significant shortcomings with companies’ go-to-market abilities. Executives admitted major disconnects between what they know they should do vs. what they are doing with their go-to-market process. Only 6 percent rated their go-to-market capabilities as extremely good.

This implies an urgent need to refocus and modify programs, competencies and resources. This shortsightedness on mid- and long-term growth results in lack of differentiation, and lower revenues and margins.

To rectify this and improve go-to-market processes, organizations should consider:

  • Constant measurement and communication between strategic plan and go-to-market initiatives. Most companies have strategic plans; however, are key performance indicators (KPIs) linked to initiatives via a balanced scorecard?
  • Alignment between functional departments and go-to-market implementation. As many areas are involved, is there a specific role or project leader responsible for alignment and communication?
  • Upgrading staff to those capable of creating and executing go-to-market plans. Given the high rate of executives’ issues with current abilities, it may be time to improve these roles and find leaders with a sense of urgency and capable of generating results.

A question organizations should constantly ask is: What’s the good business reason for doing this? The answer: re-read this article’s opening paragraph. Go-to-market capabilities are vital in today’s economy as they include new product innovation and development, pricing, distribution, marketing, communications, sales, service and manufacturing.

Can organizations afford not to have this effectively handled? If there is uncertainty, there is a good business reason to do something about it. If the certainly is not validated by facts – there is a good business reason to be worried.

HTMLgraphic Designs