Timing is Everything: A Guide to Knowing When and How to Update Your GTM Strategy
This is the second article in a three-part series about mastering your Go-To-Market (GTM) strategy. Last week, we explored the essentials of a GTM strategy, including its definition, ownership, necessary collaboration, core components, my suggested outline, and how best to document it. Subscribe to Growth, Accelerated today to be notified when the next article goes live.
Your Go-to-Market (GTM) strategy is the map guiding your company toward growth and customer acquisition. But, like any map, it needs recalibrating to stay relevant. Part 1 of this series covered the foundational aspects of crafting a GTM strategy. Now, in Part 2, we explore the when, how, and why of updating your GTM strategy. Businesses face rapidly changing market dynamics, technological shifts, and fluctuating customer expectations. Knowing when and how to adjust your GTM approach can make the difference between accelerating growth and missing the mark.
The Optimal Timing for Updating Your GTM Strategy
When it comes to updating your GTM strategy, I have found that the timing may be as crucial as the strategy itself. So, when should you look to update it?
1. Market Changes
External forces such as economic shifts, new industry regulations, or competitor moves can signal the need to adjust. When COVID hit, every company had to adjust how it did business. As a result, every GTM strategy should have been reviewed and updated. Other market changes that could indicate a need for updating include a significant competitor lowering prices or launching a disruptive product. If this happens, it is likely time to revisit your approach to ensure differentiation.
2. Quarterly Business Reviews (QBR) and Annual Planning
During QBRs or annual planning sessions, your team assesses how well the current strategy aligns with objectives and what, if any, shifts need to happen to meet future objectives. As a result of these meetings, you should review your GTM strategy and see if any changes based on the QBR and annual planning require the strategy to be updated.
3. Milestone Achievement
Reaching a milestone in sales, customer acquisition, or product adoption might warrant a review of the strategy to see if there are opportunities to accelerate growth. If you are rapidly accelerating, you may need to adjust sales or marketing strategies to ensure you’re capitalizing on success.
4. Product Launches or Major Updates
When you initially build your GTM strategy, it’s done in partnership with the product leader. The product leader has a deep understanding of the product roadmap, competitors, and how the update or new product(s) addresses customer needs. Because of this, a new product or updated features shouldn’t require you to do a wholesale do-over on your strategy. Instead, it’s a good time to review the strategy to ensure you’ve captured how the new product or features fit into the broader product portfolio, how you’ll position the solution within the existing customer base to drive use and adoption and ensure your net new ICP remains unchanged.
5. Customer and Prospect Feedback and Shifting Demands
Your customers and prospects provide invaluable feedback. Changes in their needs or challenges are prime indicators that your GTM strategy might require adjustments. I am a huge proponent of true win/loss analysis done by a third party, and ongoing customer feedback sessions as part of your revenue bowtie (onboarding -> engaging -> proving value). This information can come from surveys, product usage data, or your Customer Advisory Board. Acting on these insights keeps your offerings relevant and impactful.
6. Growth Metrics Stagnation or Decline
If metrics such as customer acquisition costs (CAC), customer retention, or revenue growth start to plateau or decline meaningfully, it’s a red flag. Growth stagnation often suggests the current GTM strategy isn’t fully aligned with market demands or business goals and may benefit from a refresh.
Timing Tip: Regularly scheduled reviews and milestones provide a consistent rhythm for GTM assessment. However, stay flexible and willing to update as unexpected changes occur. Businesses that remain agile can better adapt and capitalize on new opportunities.
Key Reasons to Update Your GTM Strategy
While understanding when to update your GTM strategy is essential, it’s equally important to know why it’s necessary. Here are some primary reasons:
1. Competitive Differentiation
As competitors evolve, so should your GTM strategy. Regularly evaluating your SWOT, competitive landscape slide, unique selling propositions (USPs), and adjusting messaging helps maintain a competitive edge. By staying one step ahead, you position your company as the preferred choice in a crowded market. As I always say, if you can put someone else’s logo on your messaging and it makes sense, you’ve failed. You are selling on features and benefits instead of competitive differentiation.
2. Scaling for Growth
As your company scales, your initial GTM strategy may not allow you to take advantage of significant growth opportunities. You may need to segment your audience further, adjust sales tactics, or even enter new markets. Scaling effectively means aligning the GTM strategy with both existing resources and future aspirations.
3. Customer Journey Evolution
In B2B, buying processes are complex and evolve. Customer personas, decision-making journeys, and pain points may shift. Regularly updating your GTM strategy helps maintain alignment with the customer journey, optimizing how you appear in the market, engage with prospects, nurture, and convert them to paying customers.
4. New Market Opportunities
Expanding into new markets—whether geographically or through industry verticals—requires recalibrating your GTM strategy. It involves researching the unique aspects of the market, adjusting messaging, and possibly developing new channels or partnerships.
5. Alignment with Company Vision
As your company’s goals evolve, so should your GTM strategy. For instance, if your vision shifts to focusing a larger percentage of your business on maximizing lifetime value, your GTM focus may shift toward retention, upselling, and customer satisfaction.
Understanding the reasons behind these updates ensures you’re not changing for the sake of change, but rather strategically aligning your approach to create long-term value.
How to Approach a GTM Strategy Update: Fresh Start vs. Incremental Updates
When it’s time to update, should you start from scratch or make incremental changes? Here’s how to decide:
When to Start Fresh
As painful as it might be, if your GTM strategy no longer aligns with any key business objectives or market realities, a complete overhaul might be best. A fresh start enables you to re-evaluate your market positioning, rethink customer personas, and adjust value propositions. As always, this should be done in partnership with the key stakeholders I shared in Part I of the GTM series last week.
When to Update Elements
Often, only specific elements need updating. This approach is less resource-intensive and allows you to maintain continuity. We’ve walked through when to update your GTM strategy above. I also recommend reviewing the strategy when you have new C-suite team members on board. A new CRO, CCO, or head of product warrants a review of the strategy so they are informed, on the same page, and have the opportunity to provide input.
Beyond that, let’s break down some critical components that may warrant individual updates:
Target Market Segmentation Updating your segmentation allows you to address shifts in customer demographics or identify new high-value personas. Refine audience segments based on recent insights, ensuring that messaging and product offerings are tailored for relevance and resonance.
Value Proposition and Messaging A value proposition that worked a year ago might not resonate today, especially if customer expectations or competitive offerings have changed. Tailoring your messaging ensures your brand remains relevant, addressing the unique challenges and aspirations of your target market.
Channels and Tactics Sales and marketing channels continuously evolve, and so should your GTM tactics. If your audience is increasingly active on LinkedIn or seeking content through thought leadership, adjust your outreach strategies to meet them where they are.
Sales Process and Enablement A streamlined sales process reduces friction and increases conversion rates. Reassess how prospects engage with your brand, the support materials they need, and their most common objections. This helps your sales team operate more efficiently and close deals faster.
Metrics and Key Performance Indicators (KPIs) Updating KPIs is essential to measure the true impact of your GTM strategy. As your business goals evolve, ensure your metrics reflect the areas of highest impact, like customer retention, upsell potential, and customer lifetime value (CLV).
Curious how your GTM stacks up? Get a personalized strategy assessment to identify growth opportunities and accelerate your success.
Align, Adjust, Accelerate
Regularly updating your GTM strategy isn’t a burdensome task—it’s a high-leverage investment in growth. Whether it’s competitive dynamics, market shifts, or company growth goals that drive the need, knowing when, why, and how to make adjustments can keep your strategy agile and aligned with today’s business realities.
As we look ahead to the final installment in this GTM series, we’ll focus on the metrics that matter most in evaluating GTM success. From acquisition costs to conversion rates, we’ll break down the numbers that reveal whether your GTM strategy is truly accelerating growth or if it’s time to course-correct once again. Subscribe today to be the first to see the article when it’s published.
This structured approach ensures that your GTM strategy not only remains relevant but also drives consistent, measurable growth in an ever-evolving B2B landscape.