Focus on Total Relevant Market and not everyone
the challenge of where to focus
One of the key pillar of The GTM Operating System is the Total Relevant Market.
Why is this important?
While companies can grow with, or without having ideal customers identified, the sustainability of growth will decrease as you scale your business.
By Identifying and focusing on your Total Relevant Market you will be able to:
Retain more customers
Acquire business through expansion, which typically has a cost of acquisition (CAC) that is 50% of new business
Create focus for your Go-to-Market organization and avoid inefficient use of resources
Here’s a quick glance of what’s involved in a TRM process for the best-in-class organizations.
But most companies do not have the right team working the process and that’s the first place where go-to-market fails.
Here’s who we recommend should be part of GTM team to help drive TRM conversations.
Finally, here’s the 4 step process to go from TAM to TRM.
When was the last time you did this exercise?
Protip: You should go through this process every time you have a new product, a new GTM motion, a new category or a new persona in introduced. Most successful companies do this multiple times a year.
Here’s a step by step guide to TRM with examples and frameworks that can be tailored to the size and complexity of your organization.
BTW - We are launching a new series of virtual events called GTM Partners Leadership Summit. The first event is on the RevOps & Revenue Intelligence Category on March 30th. Sign up here to reserve your seat (300+ registered)
We are doing a monthly GTM Made Simple roadshow so see you at a city near you in person where we go deep on each of these pillars (capped out at 75 GTM executives per location).
love,
p.s. If you are struggling to figure out your TRM is right for you or not. Book a strategy call with us.