How To Drive Product Launch

Response To Market

Lets take an example of a company launching a new software.  The business unit manager announced its release knowing its market appeal – he did it earlier than his competitors. He excited customers and sales managers quickly promised to deliver. However, no one checked if the software could deliver benefits customers needed. The sales team couldn’t showcase the right benefit and customers quickly withdrew from supporting the company. The business unit lost four core customers in just one quarter. How could the business unit manager dodge such failures?

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The Software Launch

Responding to market need works great if its backed up by carrying it out. Any business needs to know what their software does best for customers. Do they want to build software that sell themselves? Or do they want to be just among the top three sellers? Do they want to be the cheapest or add the most value? What does the business unit need to do for long-term growth and continue it? Small teams could easily innovate and bring great software benefits for customers. However, they need to follow the right steps.

The Method

First, the software team needs to outline exactly what benefits the software will bring for customers. Next, they need to know where it will run (example - platform). They need to ask the right questions. What screens would customers use? Which software connects to it? Would software upgrade be easy? etc. Last, product teams need to check if it works so customers could apply it for benefits. For example, an accounting software needs to help track debits and credits, create balance sheets, income statements. while complying with updated laws. The software team needs to invite software product managers, sales, service and future customers to approve their design before they start building the software. This will prevent redesign if they don’t consult customers first.

The Way To Go

It becomes the business unit manager’s job to see they built the product right. The business unit manager has to work with his product team every week to understand the risks, challenges and costs through the whole release method. He needs to do it before his sales teams rush the product to customers. If the business teams follow these steps, the business would gain long-term from customers who use the product for unmatched benefits. Competitors won’t stand a chance.

Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston today!

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