"SMARTe's Outlook for 2024: Navigating the Evolving GTM Landscape"
Congratulations, if you're reading this, you've successfully navigated a whirlwind of economic challenges in the past few years. As we look ahead, the landscape for go-to-market (GTM) strategies is rapidly transforming. The era of growth at any cost is behind us, and the demand for efficient growth strategies is at the forefront. In this blog, we'll explore key predictions for 2024 in the GTM realm, drawing insights from industry experts.
In 2024, we anticipate a significant shift in Sales Development Representative (SDR) roles, driven by the increasing adoption of automation. Recent experiments have revealed the shortcomings of current practices, with a staggering 68% of companies failing to respond to real C-level officer inquiries. Automation, fueled by advanced AI capabilities, is poised to bridge this gap. AI-driven personalization, streamlined lead forms, automated lead routing, and generative AI for customized follow-ups will enhance efficiency and optimize the sales cycle.
In 2024, the trend of messy and overburdened Customer Relationship Management (CRM) systems is expected to reach a breaking point. The focus will shift towards investments in the interconnection of customer data outside the CRM. GTM teams recognize the necessity of first-party, second-party, and third-party data for a comprehensive view of their customers. This leads to a significant investment in data orchestration, with businesses seeking customer data platforms (CDPs) to streamline data accessibility and interconnectivity.
Cold calling, a perennial topic in sales discussions, is set to undergo a transformation in 2024. Enhanced by actionable intelligence from intent data and sophisticated buying signals, outreach efforts will become more targeted and efficient. The overuse of email and anticipated platform pushback against spam will drive a shift towards warmer leads and a greater reliance on quality direct and mobile phone numbers.
GenAI is expected to make a tangible impact on day-to-day GTM operations in 2024, particularly in customer-focused roles. AI-powered virtual assistants or copilots will automate standard processes, allowing sales reps to focus on high-impact activities. While large enterprises have been cautious in adopting AI assistants due to security and scalability concerns, the second year of the GenAI era is anticipated to bring about a significant change.
The longstanding pursuit of alignment between sales and marketing teams is evolving into unification. Companies leveraging unified GTM tech platforms are experiencing more efficient and aligned operations. The convergence of AI models, enhanced identity resolution, and increased integration are breaking down traditional barriers between sales and marketing.
The industry is witnessing a shift towards account-based experiences (ABX) as the default approach in modern B2B in 2024. The pull of account-based strategies will lead to a reallocation of marketing technology spend from automation platforms towards targeting, qualifying, and winning accounts. This shift emphasizes the need for sales to align with marketing in adopting an account-based path.
As we step into 2024, the GTM landscape is poised for significant changes. Automation, interconnected data sources, warm calling strategies, AI assistants, sales and marketing unification, and account-based GTM are key trends that GTM teams can leverage for a successful and adaptive go-to-market strategy. Embracing these trends will position organizations at the forefront of the evolving marketplace. Cheers to a transformative year ahead!