Customers will help you set prices before—but not after—you launch your new product. They want you to develop innovative new products and services that deliver value to them… so they’ll give you insights to make this happen. These same insights allow you to establish optimal pricing. Do you know how to do this? It will be too late after you launch your product.
More in 2-minute video at 34. Use value calculators to establish pricing
We see three common shortcomings with B2B product launches: 1) Low-quality front-end work: Suppliers develop the wrong product, so even the best launch is just putting lipstick on a pig. 2) Poor linkage between stages: The launch is not driven by what was learned in the front end. 2) Out-dated promotional tools: This includes poor selection of the many traditional and digital tools available today. It helps to follow these 4 steps: The Right Product delivered to the Right Market using the Right Message through the Right Media.
More in 2-minute video, Launch new products with power
How do you know if you’re accepting too much commercial risk in your new product development? You know if Joe answers, “Not sure. Guess we’ll find out next month when we launch it.” Future B2B innovators will think this is nuts. When you innovate for a B2B market, nearly everything needed to eliminate commercial risk is “knowable” in the front end of innovation, before development begins. That’s because your B2B customers have high knowledge, objectivity, interest and foresight (as explained in 2-minute video, Understand your B2B advantage.).
More in article, Target Customer Needs and Win
Research shows that it’s often “game over” for your product if a competitor’s product has a better Google search ranking. The key is good search engine optimization (SEO), and the key to that is predicting which keywords your prospects will search for. Here’s a tip: In your front-end voice-of-customer interviews, capture customers’ comments verbatim. Then use their language—which is unlikely to change—in your SEO strategy.
More in article, B2B Product Launch: How to get it right
Imagine you just launched your new product and the market responded with… one big collective yawn. Was it a poorly orchestrated launch? Perhaps, but it’s more likely your launch was doomed a couple of years earlier by poor front-end work. Our research shows five of six B2B product development teams lack a clear understanding of market needs before conducting B2B-optimized VOC. Without this insight, your launch might be putting lipstick on a pig.
More in article, B2B Product Launch: How to get it right
Should your product launch include email… trade shows… pay-per-click? Every market segment tends to favor different venues to learn about new ideas. Rather than guessing—and squandering your budget—you should study customers’ behavior. Don’t think, “How do we communicate?” Instead think, “How do they learn?”
More in article, Stop Squandering Your Product Launch Budget
In a whispered voice, a B2B business executive confided to me that his company seldom spent more than $10k on their product launches… even after spending hundreds of thousands developing the product. This isn’t launching a product. This is kicking it off the loading dock and hoping someone finds it.
More in article, Stop Squandering Your Product Launch Budget
This is how one B2B marketer described their launch process to me. It’s much better to use a rigorous process, documented in five brief reports: Launch Plan Summary (with strategy, team, activities & results), Prospect Profile, Message Brief, Media Guide, and Launch Results. The middle three address who to tell, what to tell and how to tell.
More in article, How to Plan an Amazing B2B Product Launch (Originally published in B2B Organic Growth newsletter).
Customers will help you set prices before—but not after—you launch your new product. They want you to develop innovative new products and services that deliver value to them… so they’ll give you insights to make this happen. These same insights allow you to establish optimal pricing. Do you know how to do this? It will be too late after you launch your product.
More in article, Pricing New vs. Existing Products (Originally published in B2B Organic Growth Newsletter)