Wearing multiple hats is common practice in the modern organization, and no more so than in small companies. In the marketing domain this can mean outbound product management is either merged with inbound or occasionally lost all together. This post looks at a number of reason why outbound product management should be of equal if not more importance than inbound; especially when you consider the success of your product or service often depends on its penetration, adoption, and usage.
Consider these quotes from some of the leading experts in our domain:
- Executive Chairman of the Board at Google, Eric Schmidt (Ph.D) stated at Salesforce.com’s Dreamforce 2011 (see 0.33.47), “Apple proves if you organize around the consumer the rest will follow. And that’s something I did not understand until Google. Google runs in a similar way. Try to figure out how to solve the consumer problem and the revenue will show up.”
- In a July 2011 Ted Talk economics writer Tim Hartford shares the surprising link among successful complex systems – that they were built through trial and error.
- David Heath, Vice President of Global Sales at Nike inc. (ret.) stated in 2011, “the days of relationship selling frankly are over, and the days of bringing in the solution to the buyer and doing the buyers work for them are going to separate the winners from the losers.” See Developing Challenger Sellers – a new book from Corporate Executive Board.
- Marc Benioff, Chairman and CEO of Salesforce.com starts all his keynotes at customer events such as Dreamforce by thanking the attendees – the customers for making Salesforce.com what it is today.
- Caroline Michiels, of custom software business ThoughtWorks stated, “60% of functionality in packaged solutions is never used.”
- Mike Heilman, a former colleague and veteran sales leader, responded to the HBR article, “Are top salespeople born or made?” I reposted on LinkedIn stating, “I have seen people of many, many different personality types succeed in sales. I believe that the only absolutely required characteristic is empathy. You simply must be interested in other people or they will reject you. Humor and intelligence are really good as well.”
While each of these quotes are recent, they are also pulled together for this post from different sources. The context is different, yet they all have a consistent theme – listen to your customer.
What can we take away from this when bringing new products to market? Here are a few questions worth considering:
- Does your product or service address a customer need and also the need/s of prospective customers – i.e. market needs? Which well known need/problem is it addressing? Have you defined the opportunity upfront? Think how Google took on Microsoft Office with Google docs – significantly less functionality yet with an unmatched collaboration capability addressing a well known market need. What are the 2 key points you use to market your new product? Forget features – can you frame the issue in the mind of the customer?
- Have you built a business model including market share? What are the objectives? What does success look like?
- Are you able to synthesize what you have heard in the market, communicate this in the user stories, and ultimately simplify your product offering tailoring it to resonate with your customers?
- Are you confident you have provided your salesforce with the right material to enable them to target the right buyer and subsequently empathize with the buyer? Think buyer scenarios (like user scenarios but focused on the buyer – profile and pain points) and customer success stories (or testimonials) which enable the sales team to identify the right buyers, teach the customer something new about their business and take control of the sales process. This is such a critical step. If sales are unable to penetrate accounts, you risk the team dropping the new product and falling back onto others which have historically delivered (won business) for them.
- Have you set your new product or service up for success? Recognizing adoption is key and iterations will evolve – think Google Docs, Google Mail and more recently Google + which all launched with feedback mechanisms, and a dedicated team behind the product enabled to release iterations based on the feedback. Eric Schmidt also said at Dreamforce 11, “…you are much better off if you organize around a continuous iteration model”.
- How will you react to a competitive play?
Does goto market planning start before or after development in your company? Does your company separate many of the outbound product management functions into a Product Marketing function? What questions do you ask when developing your goto market strategy? Use the comment box below to share your experiences.