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

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