adaptive marketing - launching a new product in a large company
DESCRIPTION
Challenges and Best Practices in launching a new product line in a large companyTRANSCRIPT
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LAUNCHING A NEW PRODUCT LINE IN A LARGE
COMPANYPinkesh Shah, CISSP
CEO Adaptive Marketing
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5 lessons learned
1. External competition is not as big a factor as your own internal inertia
2. Develop a sales plan to sell to your sales guys
3. Leverage distinctive competency, find synergies
4. Find a carrier for your product – pull through effect is a key for your v1.0
5. Brilliant product strategy fails if not aligned with corporate strategy
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1. Internal Inertia
Larger companies means several “in flight” products.
Productizing new idea doesn’t always mean new resources – compete internally
ROI thresholds are higher (6-7x)
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2. Sell to sales
Quota Relief (~25%) “specialized” Product line
sales leaders In quarter promotions Channel incentives Get a few case studies
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3. Find synergies
Existing customer new needs is easier
Can you talk to enough customers/prospects to validate?
Upsell is easier than green field sales
Portfolio
Expansion
Diversify
Market Penetrati
on
Market Expansio
n
ExistingCustomers
NewCustomers
Exis
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eq
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4. Find a carrier
Product bundling Suite selling – create
platinums Attractive upsell offerings Identify customer
alignment or be ready to fail
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5. Tie it to corporate strategy
Diversification Higher ASP Moving up the buyer
decision center (admin vs CIO)
Emerging markets Thought leadership – crown
jewel product
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Advantages
Open the tap vs dig the well Quicker resources once proof
point is demonstrated Chance at faster market
leadership Higher risk tolerance
Entrepreneurs : Growth :: Intrapreneurs Growth rate
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Email [email protected]“Adaptive marketing”
Training schedule, resources/updates
at www.adaptivemarketing.in