10 Biggest GTM Myths Debunked
As we step into 2024, let’s debunk some myths that may be holding us back in the GTM scene. Take a breather, reflect on the past year, and join us in shaking things up. We’ve got a list of 10 GTM myths busted on our Revenue Today podcast, hosted by Jared Robin.
We’ve asked experts who did it all. Forget the old ways—this is your ticket to fresh GTM perspectives. Tune in!
Myth 1: You need venture capital to build a company.
Expert: Andrew Gazdecki
Many aspiring entrepreneurs believe that the only path to building a successful company is through securing venture capital. However, seasoned entrepreneur Andrew Gazdecki dispels this myth:
“You don’t need venture capital to build a company. You can build a company with paying customers. You don’t need to build a billion-dollar company to be successful as an entrepreneur.”
Reality: Andrew’s insight reminds us that there are alternative pathways to building a thriving business. Relying on revenue from satisfied customers can be a sustainable approach, allowing entrepreneurs to maintain control and independence over their ventures. The key is to focus on delivering value that customers are willing to pay for.
Myth 2: You can only do one thing well.
Expert: Eden Gorcey
Some believe that success hinges on singular specialization, advocating for perfection in one product or service. However, Eden Gorcey challenges this notion, highlighting the importance of innovation and diversification. She states,
“That flies in the face of innovation, and sometimes perfection can be the enemy of progress. Major businesses have always ruthlessly prioritized making sure they’re true to their value proposition but have also been able to differentiate into different products. When you see an opportunity and you don’t expand beyond your core competencies, someone else will.”
Reality: Eden’s perspective emphasizes the value of adaptability and continuous innovation. Successful businesses often evolve and expand their offerings to meet changing customer needs and remain competitive. While excellence in a core competency is essential, it should not limit exploration of new opportunities.
Myth 3: The most critical North Star metric for sales is revenue.
Expert: Mark Roberge
Many businesses obsessively focus on revenue as the primary indicator of sales success. However, a sales expert, Mark Roberge argues for a shift in perspective.
“The number one metric is customer retention and success, and we’re continually ignoring it. The internet gave every customer a huge megaphone to tell everyone about good and bad experiences with the product. All of those changes caused customer success, satisfaction, and retention to be top of mind for CEOs. Pretty much every time, their customer retention issue lies in sales. It lies in the types of customers the sales team is pursuing, the expectations they’re setting during the process, and the buy-in they’re creating within the organization to ensure the customer success team is set up for success upon contract signature.”
Reality: Mark’s perspective underscores the paramount importance of customer satisfaction and retention in sales. Satisfied customers drive revenue and become brand advocates, leading to sustainable growth. Businesses should focus on aligning sales efforts with long-term customer success, as this is the true North Star metric.
Myth 4: Sales reps close deals.
Expert: Nate Nasralla
Nate Nasralla sheds light on a common misconception, stating, “The truth is that buyers close deals, not sales reps. The whole field is built around this premise. But if you look at the moments that create and kill deals in B2B, it’s never during a sales meeting, in fact, sales reps aren’t in the room. It’s during a buyer’s internal conversations where it’s the champion on the buying team that’s actually pitching and controlling the message.”
Reality: Nate’s perspective emphasizes the crucial role of the buyer in the sales process. Understanding the dynamics of the buyer’s internal discussions and effectively addressing their concerns and needs can significantly influence the outcome of the deal.
Myth 5: Sales is just a numbers game.
Expert: Paul Rosen
Paul Rosen challenges the conventional wisdom, stating,
“The whole business environment is changing. The belief that you should be thankful for all the “no’s” because they bring you closer to the next yes is being challenged. Today, it’s about the quality of activity, not the quantity. Companies and leaders often overemphasize activity metrics, which might not be the right approach in today’s environment.”
Reality: Paul’s viewpoint highlights the significance of quality over quantity in sales. While persistence is essential, focusing on meaningful activities and building quality relationships with potential clients can yield more positive outcomes in the current business landscape.
Myth 6: Salespeople are the best salespeople.
Expert: Stevie Case
Stevie Case challenges the notion that sales roles are exclusively suited for certain individuals, suggesting, “Sales, sales leadership, and other related roles are jobs that anyone can do, and they should be the number one path to onboarding in the tech industry and for wealth creation. Job descriptions often include strict requirements, but candidates should focus on the fundamental skills of sales: putting together a puzzle for the customer, asking great questions during discovery, and presenting valuable solutions.”
Reality: Stevie’s perspective highlights the accessibility of sales roles to a diverse range of individuals. Emphasizing the importance of fundamental sales skills underscores the idea that anyone can excel in sales with the right mindset and skill set, regardless of their background or prior experience.
Myth 7: Email delivery is dead.
Expert: Jesse Oullette
Jesse Oullette points out the fallacy surrounding email delivery, stating, “Email delivery is not dead, but many people focus too much on the message rather than deliverability. Understanding a prospect’s problems and using data-driven information can make cold emails effective. Regarding personalization, people are overly focused on personalizing the message with information from social media profiles, which may not be impactful. Instead, personalize the prospect’s problem by using relevant data and insights to tailor the message.”
Reality: Jesse’s perspective emphasizes the importance of focusing on effective email delivery strategies rather than solely concentrating on message content. Leveraging data-driven insights and personalizing messages based on the prospect’s specific challenges can significantly enhance the impact of cold emails.
Myth 8: If you have a good product and a really good sales team, you don’t need marketing.
Expert: Olivier Labbé
Olivier Labbé challenges the idea that strong products and sales teams negate the need for marketing, stating, “After spending the last eight years in MarTech, I have completely changed that perspective. I think marketing is probably more important to scaling revenue efficiently than having really good salespeople because the way that salespeople spend their time is critical to the success of the business. After managing budgets and huge teams, it’s not cost-efficient to have salespeople do marketing. If you are not generating at least 50-70% of the pipeline for the business through marketing, it’s going to be really expensive to scale efficiently.”
Reality: Olivier’s perspective underscores the critical role of marketing in driving efficient revenue scaling. Depending solely on a strong sales team may not be the most cost-effective strategy in the long run. Effective marketing initiatives that generate a substantial portion of the business pipeline are crucial for sustainable and efficient growth.
Expert: Darryl Praill
Darryl Praill exposes a prevalent myth surrounding social media, stating, “Sales 101: You need to do multi-channel outreach—phone, email, social, etc., using multiple channels. The myth, though, is that social doesn’t work for me. It doesn’t work for me because I don’t have a following, and when I do post content, I get no engagement. It’s like a desert, a ghost town. The biggest myth you will ever tell yourself is that you are not able to be successful on social, along with all the other excuses you can think of. That myth is a game taking place in your head, stopping you from the success you damn well deserve.”
Reality: Darryl’s viewpoint emphasizes the importance of leveraging multiple communication channels in sales, including social media. Overcoming the misconception that social media is not effective for certain individuals requires a shift in mindset and strategy, focusing on building engagement and connections to drive success in the social sphere.
Myth 10: You must lead with ROI.
Expert: Jen Allen-Knuth
Jen Allen challenges the prevalent idea of leading with ROI, stating, “This notion that to earn a meeting with a prospect or a customer or anybody, we have to help that customer realize why our solution or our company is better. To earn a meeting, we actually have to help our customers realize the under-appreciated cost of the status quo. It’s not leading with ROI; it’s leading with something called COI, which is the cost of inaction.”
Reality: Jen’s perspective emphasizes the significance of highlighting the cost of inaction to potential customers rather than solely focusing on the return on investment. Understanding and effectively communicating the implications of maintaining the status quo can be a powerful motivator for driving customer engagement and action.