Crafting a Winning GTM Strategy in Health Tech
Opt In | Ep. 55
Common GTM Pitfalls to Avoid and How To Build Long-Term, Sustainable Pipeline
Developing a successful go-to-market (GTM) strategy requires more than a “one size fits all” approach. Especially in the health tech space – it’s far too nuanced and regulated to copy/paste a strategy from a different SaaS industry.
The ways you:
🎯 Select and penetrate target accounts
📝 Build and structure messaging
⌛ Nurture Prospects
will need to change. Health tech demands intentionality at all levels, tight alignment between revenue teams, and a long-term mindset for success.
We recap some of those points and share tactics that you can adopt to start seeing positive results – regardless of the industry you’re in.
Opt in to emulating the health tech GTM strategy and focusing on the long game.
AJ & Alex’s Take
The best way to learn about this is to watch the recording (linked above), but if you’re looking for an abbreviated learning experience we’ve got you covered:
Don’t just be multi-channel – be ‘surround sound.’ We know that for SDRs to be effective, they have to leverage all of the channels at their disposal – phone, email, and social (the big three). But in health tech, success hinges on more than just the SDRs ability to start conversations. Alignment with sales and marketing allows your message to extend beyond the reach of traditional channels and into the realm of demand gen and thought leadership.
The message that your SDRs are pushing through their outreach channels needs to map back to the content you’re creating for ads, events, eBooks, whitepapers, and webinars.
Surround sound prospecting allows your team to reach multiple stakeholders with multiple messages at multiple times – and having it all map back to the main value propositions of your solution. Slowly carving out space in your prospect’s brains for your name and the value of your solution means that when the time is right, you’re top of mind.
That’s how you win in health tech.
Focus on the long-term. When SDR tenure hovers around 18 months, telling your reps to think about the long game can be tough. But in a space like health tech, it’s not just a pathway to success, it’s the pathway to success.
We’ve had reps at dD nurture accounts and prospects along for one, two, even three years before they were finally able to generate a sales opportunity. And that’s due to a multitude of factors – healthcare regulations, shifting priorities, existing contracts…the nuances of health tech lend themselves to long and involved sales cycles. And because of that, it requires a concerted effort from both your SDR, sales, and marketing functions.
You can’t take the “Spam your TAM” approach here – all that does is burn bridges. Success hinges on your ability to build and maintain relevance over an extended period of time.
The tactics we (and Adrienne & Lindsay) talk about are necessary for success in the health tech space…but it doesn’t mean they aren’t applicable in other industries.
We’re huge proponents of long-term nurturing, you just don’t see 3+ year cycles all that often outside of the healthcare space. And surround sound prospecting is a tactic any organization can use, but the level of effort required for success is usually outweighed by other tactics.
Point being, what Lindsay and Adrienne talk about isn’t reserved for just health tech. The stuff they talk about works best in that space, but you can (and should) emulate certain aspects of it in your own GTM strategy.