Emotions have been running high for the whole of 2020, with people forced into transitioning to new ways of working, some kicking and screaming, but most, welcoming some change, reducing their commute time and adopting this new “normal”.
Whilst these reactions are personally emotive, what is slightly more sinister is my observation of businesses allowing themselves to let emotions dictate their own business acumen and strategy creation.
It is fair to say that a number of businesses are needing to (or have already) alter[ed] their revenue and Go To Market (GTM) strategies, the latter of which can be defined as from first contact to value delivery.
It is a complicated task especially if reactionary which a number of alterations will be (clearly, no one prepared for an event like this!) but it is important to focus on the following 3 things when developing a new GTM strategy:
- Focus on delivering activities that are vital to the business
- Finding ways to conduct these activities digitally
- Whether the company has existing solutions that help transition to digital
So, yes a transition to digital is a must and most businesses recognise this or were in the process of doing so accepting that if they focus on these 3 things when it comes to developing a GTM, then they are on the right path.
However, and this is the point of this article, every strategic decision has to be data-driven and not emotive. For the decisions that are to be made, the genesis of this decision-making has to start, or be linked back, to a set of data points to ensure the decision makes sense. Emotion and intellect are negatively correlated. You can have the best intentions that your strategy needs to focus on your content, your customer, your community and the value your product brings (it should by the way!) but if the strategic decisions are built upon gut feel and intuition, whilst commendable, will result in your new foundations being built on sand, and not stone.
Masonry, and not silica, is what these new strategies need so make sure that you look at the data and make decisions based on what the data is telling you and not let your disruptive emotions take over.