SaaS Valley of Death is here. Are you prepared for it?
No problem is too big or too small
GTM Partners’ research shows that in 2023, most companies are in the bottom two valleys of death.
Either, you are delivering a product but can’t renew it - causing massive retention issues OR
You can renew but can’t expand - causing massive NRR (Net Revenue Retention) problems, making your business less profitable and expensive to run.
We have always believed that companies don’t run out of ideas, they run out of money. In 2023 this is truer than ever before.
For this reason, we have been researching how to help solve this challenge for companies and identified 15 reasons why your GTM is broken.
Of the 15 GTM problems, the ones highlighted are the challenges companies are currently facing in Q1 and Q2 of 2023. This is based on GTM Partners’ research of 100s of GTM leaders across industries and company sizes.
So how do you address a valley of death?
Here’s a step-by-step process:
In your next GTM meeting, bring this as an executive team agenda item and run through the GTM 15 problems and identify the top 3 that your company is facing.
Assign an owner to each of these problems and have them lead a small team and to find solutions.
Set a goal for the next 30 days to lay out a process and report weekly on the movement of this goal.
In 90 days, you should see massive improvement if this in fact is your priority. But it needs clear ownership and outcome. You then simply repeat this process with other GTM problems.
Protip: Do this today! How you perform in Q2 will determine the rest of 2023 and the time to solve these GTM problems is now.
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.
We are doing a monthly GTM Made Simple roadshow so see you in 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 how to identify your GTM challenges, Book a strategy call with us and we can walk through these with you.