The State of Software in Marketing from GTM Partners and Chiefmartec

Software isn't the answer to everything - just most things.

Technology has become a key and necessary part of marketing, enabling more personalized experiences for customers. Companies use different technology solutions to understand consumer needs, analyze industry data, create products people want, and enter markets in a way that captures and keeps attention.

G2's Digital Reach 2022 conference spotlighted some iconic voices in the tech industry, and marketing was no exception. Two marketing professionals explained why your go-to-market strategy is failing and how you can use software to improve the process. They also covered the history of marketing technology, as well as ways to apply these tools to up your marketing game today.

Keep reading to learn more about what Sangram Vajre and Scott Brinker had to say.

Fixing a broken go-to-market strategy with Sangram Vajre

You don't have a marketing problem. You don't have a sales problem. You don't have a customer success problem.

You have a marketing problem.

Sangram Vajre, co-founder and CEO of GTM Partners, started his session with this sentiment and continued to unveil its meaning with this example:

Company A has Annual Recurring Revenue (ARR) of $35 million and Company B has Annual Recurring Revenue of $50 million. Which company is the most valuable?

Your instinct might tell you to choose Company B because, after all, more money is better, right? Now, what if Company A has a Net Retention Rate (NRR) of 120% and Company B has an NRR of 75%? Vajre believes that a solid GTM strategy is the key to improving your NRR.

He explains that Company A will double its revenue every five years without needing to onboard new customers. Company B, on the other hand, would have to double its new customer base at least every year to even keep the lights on.

Again, my money equals my problems.

“Being intentional is more important than being brilliant,” says Vajre. Focusing on keeping your customers not only satisfied, but precisely aware of the value of your product is imperative. The NRR directly shows the difference between growth and efficient growth.

Reasons why your GTM strategy is broken

It can be easy to point fingers at different processes and blame them for why your market entry has failed or not prospered as much as you hoped. Vajre pointed out that there are many different reasons at play when a GTM strategy is not successful.

Do you identify with any of them?

Your business relies heavily on salespeople rather than sales strategies. You cannot predict revenue for the next two quarters. Your team is not aligned with management's strategy. You don't know how to prioritize new initiatives. Competitors play with your value. Your customers can't justify the return on investment. Your churn is killing your business. Your sales, marketing, and customer success strategies are out of sync. Your team is reactive and not proactive. Use software for GTM

Entering a market begins long before you actually get there. It's like doing homework before school begins.

According to Vajre, every successful company has more than one GTM move going. He uses G2 to start creating a categorization of all the GTM software he needs and to make quick comparisons that help him make decisions.

GTM Partners has partnered with G2 and other industry leaders to create