How do you identify KPIs to measure the success of your GTM strategy?

To identify the right KPIs, I would first start by defining your overall company and GTM strategic objectives. For example, do you want to increase market share, launch a new product, penetrate a new market segment, accelerate pipeline velocity, etc.? What you need to do and which KPIs you need to measure will differ greatly depending on your overall goal. These KPIs may vary widely, potentially including messaging adoption & consistency rates, brand awareness, win rates, revenue generated, pipeline or leads created, sales velocity, product adoption, customer retention / upsell / advocacy, and much more.

After you define your overarching objectives, I would then break down your GTM strategy into success pillars across product, marketing, sales, customer success, and operations. From there, you can define KPIs along each of these pillars. For example, in the product pillar, metrics could include product adoption rates or customer satisfaction scores, while in the marketing pillar, metrics might include leads generated or conversion rates. It's essential that these metrics align with the overarching business goals and provide meaningful indicators of progress towards those goals.

Once you've identified the KPIs, I would then set measurable targets for each and continuously monitor them to track progress and performance. This is where analytics tools and real-time dashboards can help provide timely data and insights into what's working and what's not. Be prepared to iterate and adjust your KPIs and strategies as needed based on your findings - this helps ensure that your GTM approach remains dynamic and adaptable to changing market conditions and the context of the company and products.

Generally, GTMs accomplish one or of more of the following goals:

• Increase market share in a new, strategic market

• Increase market share in an existing market

• Increase revenue through updated pricing or add-on adjacent products

• Increase conversion through features that capture customers' interest more quickly

• Increase retention through features that keep customers engaged

• Shift the brand perception of your target customers

You should orient KPIs around each goal.

• Typically, large product releases that fundamentally shift the value proposition of your company have ramifications on brand perception, market share, and revenue.

• Small to medium product enhancements are more about increasing the ratio of conversion or retention of your existing base of traffic or customers

Aim to have 1-2 primary metrics, and a few secondary metrics. Depending on the strategic magnitude of the GTM, you can focus primary metrics on goals such as brand perception, market share, revenue, versus ratio oriented optimizations (e.g., conversion, retention).

We must measure the success of our GTM strategies! Without it you make it incredibly difficult to replicate success, or deliver insightful lessons learnt. However, your KPIs aren’t always in your hands. You might find yourself hunting around, or demanding data from other teams – therefore it’s important you engage those stakeholders from the outset of your GTM strategy.

These measures will give you an indicator of a good or a bad launch. Of course, a lot of elements go into GTM, so it’s easiest to break these down into sub-categories. Remember, the ‘who’ you’re launching to will impact what you should be tracking. As an example, in a Xsell launch you might want to also track Customer Contract Value (CCV) over time.

Marketing

·        Social/web: Impressions, traffic, views, leads generated, (SQLs)

·        Email: Open rates, click rates, conversions

·        Conversion rate

·        ROI

Product

·        ROI

·        Time to market

·        Product adoption

·        Product usage

·        Product abandonment rate

·        Bugs/support queries raised

Customers

·        Churn

·        CSAT

·        NPS

Sales

·        Customer lifetime value

·        Average revenue per customer

·        Annual reoccurring revenue

·        Attachment rate