A service portfolio manager works with delivery, sales, and marketing to inform your services...
Services Go-to-Market Maturity Model: What to Know
In this 3-minute video, we break down Alveo's Services Go-to-Market Maturity Model and the importance of aligning all go-to-market teams. Watch or read below.
Services Go-to-Market Maturity Model
Here's a look at Alveo's Services Go-To-Market Maturity Model. Leveraging extensive industry expertise, the model is representative of the unique phases of growth that most technology solution companies undergo. This model is used to help you identify where your business is in its maturity and what areas of the business need more focus in order to achieve scale and sustainability. The model shows how the natural evolution of growth impacts organizational alignment, people, processes, and tools. Alveo has identified five distinct stages of growth: The Opportunistic Stage, the Repeatable Stage, the Scalable Stage, the Sustainable Stage, and the Optimal Stage. As an organization progresses through these stages, from left to right, they recognize an increase in the customer lifetime value and a decrease in the cost of customer acquisition. At the end of the day, it can have a huge long-term impact on your revenue and profit.
Maturity model unpacked
A unique aspect of the model is that we break down the go-to-market maturity of each growth stage across sales, marketing, and delivery. This holistic approach helps identify the maturity of each individual team but also showcases how each team contributes to the greater go-to-market engine. We have found that when the three interdependent teams mature at different rates, it will negatively impact an organization's ability to reach scale and sustainability.
Coinciding maturity rates are required for several reasons:
- To ensure information is optimally passed from one part of the organization to the other. For example, if your service portfolio management team has matured more than sales, the deliverables created by the portfolio team will not be properly implemented within sales. Vice versa, across equally matured teams, the information provided would be implemented by sales into their sales process, training, and execution.
- Each team requires feedback loops from the other two teams. Lack of feedback can impact performance or derail the strategy. For example, sales should provide win/loss and customer lifetime value data to the service portfolio management team to refine the organization's ideal client profile. The profile then impacts marketing messaging as well as the development of future solutions specific to that profile.
- Ability to prioritize future investment. By looking at all three organizations holistically, the team collectively can decide where to focus future investments for greater alignment, collaboration, and ability to execute towards their business objectives.
Holistic approach example
Here is an example of a company that implemented this approach and the results that they were able to achieve. We'll omit the name for discretion but let's just say it was a Fortune 500 Value-added Reseller/Managed Service Provider. The company's healthcare, education, state and local, and federal revenue growth was flat year over year. By aligning sales, marketing, and product on goals, strategies, and execution while also improving collaboration and communication across teams, the pipeline tripled in the first six months. In fact, it was 364% in increased pipeline. They also hit their annual revenue goal in half the time. When we surveyed over 300 sales and marketing professionals, we found 74% improvement in collaboration and 89% improvement in communication. Similar results are seen at companies of all sizes, although the larger an organization is, the longer it will take to achieve.
If you want to unlock your revenue potential, contact us to find out how Alveo can help!