Forbes magazine recently published an article which discusses 6 trends we can expect to occur in B2B Go to Market (GTM).
The article accurately points out that with technological advances, changing customer expectations and market dynamics, businesses must adapt their GTM strategies to remain competitive.
But what exactly does this mean for small or medium Accounting or Technology firms?
Below I discuss the trends and the implications for Accounting and technology firms as well as actions they can undertake.
TIP: Not exactly sure what is a Go to Market strategy is or why it is critical that your firm has one, check out this short video.
| TREND | DESCRIPTION | IMPLICATION |
| Hyper-Personalisation | Generic mass tactics such as Advertising and Cold Reach are no longer effective | For Accounting: Buyers seek firms with in-depth understand of their business, industries and markets they serve. They are now seeking advisory services to support their key challenges and future growth endeavours. For Technology Firms: Tech buyers also seek speclalised expertise of their industries and markets to enable them to respond for the need for tailored solutions which often now must include more than just the product. |
| Integrated Tech Stack | Accounting and technology firms will increasingly adopt integrated systems to connect various platforms to create a holistic, cohesive client experience that buyers seek | For Accounting and Tech Firms: It is critical to have a common understanding of buyers’ needs, priorities and behaviour across the firms. GTM Planning and Execution must be done cross-functionally including teams such as Business Development, Client Delivery, Account Mgmt, Operations, Service and Support . Benefits include: greater client experience, client retention and renewals. |
| Net Retention Strategy for Revenue Operations | Client retention and expansion will be a critical GTM strategy to drive growth | For Accounting Firms: Firms must understand clients’ broader strategic goals, challenges and priorities and develop strategies to address them. This may involve developing new offerings, collaborating with other service providers. For Technology Firms: Growth in subscription economy means that retaining and expanding existing client relationships will be paramount. |
| Regular ‘product” innovation | Typical, standard product or service offerings will no longer be sufficient | For Accounting Firms: Clients have rising expectations for depth of expertise and greater support beyond just “the numbers” and usual accounting activities in areas such as business planning, strategy, forecasting and operations. For Technology Firms: Technology clients no longer want software but rather solutions to their key problems and challenges. |
| Personal Branding Key to Lead Generation, Sales and Overall Firm Growth | Creating visible experts will be essential to attracting and engaging with your target buyers and driving sales and business growth | Focus on delivering value by providing “AIR” – Advice, Insights and Recommendations to your target buyers’ key goals, challenges and priorities where and with whom they seek help. |
TIPS TO GET YOU STARTED NOW!
- Develop a “listening” program to gain an in-depth understanding of the industries, geographic markets and buyers your firm seeks to serve.
- Ensure the insights that are gathered are documented and shared across the different functional teams (eg. Client Delivery, Customer Success, Account Management)
- Develop client/account plans to manage nurture and support your existing clients. 3 Key Success Factors are:
- Plans are created based on an in-depth and current understanding of clients needs, priorities, buying behaviours—all of which can be obtained by having an effective “listening” program
- Plans must be cross-functional including teams such as Client Delivery, Service and Support, Account Management and Operations
- Plans are regularly reviewed and revised
4. Develop holistic tailored solutions for your Accounting or Technology firm to cater to a broader set of your clients’ needs, priorities and objectives
Want to Create the Right B2B Go to Market Strategy to Drive Your Firm’s Client Acquisition, Retention and Overall Business Growth?
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