Jon Miller posted on his blog about thought leadership over at Futurelab and he really nailed it. Many marketers focus so much on doing “stuff” (my technical description for deliverables) from a menu item of tactics when they should be focusing much, much more attention on (my term for this is “obsess over”) thought leadership. Why?
“In down economies, prospects conduct even more research leading up to the purchase. This means B2B marketing professionals must help educate prospects in the early stages of the buying cycle; doing this well can help frame their buying process and establish your brand as a trusted advisor that understands their problems and knows how to solve them.”
At Pragmatic Marketing we work very hard to maintain the thought leadership position we have earned from our customers.
What are you doing to build or fortify your thought leadership position?
One of the things we talk about in our Effective Product Marketing seminar is how to roll out a new message. We recommend starting out internally first before rolling it out to the market.
In your rush to get the product launched are you failing to roll it out internally first?
Internal communications programs that get employees on board when it comes to spotting new business opportunities can also result in bumps in top-line sales gains, too – although of all the employee-directed campaigns, this appears to be the most difficult to implement.
Are you frustrated to discover that people in your organization “don’t get it”?
My new ebook - “Is your product launch Doomed? 10 ways to identify an impending product launch disaster” is now available for download. In typical Pragmatic Marketing fashion there is no registration, just click, read, enjoy and pass along to your friends (definitely not your foes).
All the cool kids are reading it.
Are registration forms getting between your ebooks, whitepapers, brochures, etc. and your potential buyers?
Here are ten easily identifiable signs to watch for that can help forecast if a product launch may be in trouble and suggested course corrections to make before it’s too late.
The process of introducing a product to market is a serious undertaking, but for many companies it’s an afterthought. The level of effort and resources applied to the creation of the product often dwarfs that of the product launch. It becomes a “throw-it-over-the-wall” process with dismal results, followed by blame storming.
Here are ten easily identifiable signs to watch for that can help predict if a launch may be in trouble.
#1 - There are no goals for the product launch
Launch goals are the cornerstone of a successful product launch, yet so many companies fail to establish them. All CEOs have an expectation of what success looks like, but often those expectations aren’t translated into goals understood by the people entrusted to plan and execute the launch.
Establish launch goals as early as possible with the management team and communicate them in meaningful ways throughout the organization.
#2 - The launch strategy is based on a set of deliverables from a launch "checklist"
A launch checklist is not a launch strategy. An effective product launch checklist is developed after establishing launch goals and then choosing the best strategy to support them. A launch checklist usually gets created after a botched launch. Someone goes around the organization asking each department what they need for a successful launch. The result is a bloated wish list of deliverables and activities with questionable value often growing with each successive launch.
Once launch goals are established, formulate the launch strategy and then define the deliverables needed.
#3 - The launch plan contains unrealistic timeframes and expectations
Optimism is wonderful but it can blind you to the realities of constraints and capabilities within an organization. It's wise to evaluate the organization within the context of the product being launched to identify readiness gaps. Once identified, allow enough time to address the gaps before they develop into problems that negatively impact the launch.
Acid test launch goals against the ability of the organization to execute. Then develop a plan of action to fill the readiness gaps.
#4 - Sales enablement training is based on product features
Sales enablement training is one of the most critical components of a successful launch. Unfortunately most training sessions are packed with information about the product with emphasis on the newest features. Successful salespeople solve problems for their buyers, they don’t sell features. Inevitably some of the product features your buyers find most valuable are not necessarily the newest ones.
Become experts on your buyers, why they buy and how they buy.
#5 - Significant effort is spent creating collateral for people who never read it
Ninety percent of sales tools are never used by salespeople, yet marketing teams keep producing them. They also include a staggering amount of gobbledygook. Does it really matter to your buyer that you’re “the leading provider” of anything or that your software is “robust”?
Break the cycle by focusing on a deep understanding of your buyers, then build sales tools to influence them through the buying process.
#6 - No single person is responsible for driving product launch results
Many organizations have just one window of opportunity to launch per year, yet don’t give it the high priority they should. Accountability for results is fundamental to the success of an organization and without it the organization loses focus. A launch owner provides a single point of accountability ensuring product launch planning and execution have the high priority they deserve.
Assign the responsibility of achieving the launch goals to a launch owner, and provide them with the flexibility and resources to make it happen.
#7 - The launch plan is based on hunches, not market evidence
Hunches may be great for the casino but not for successful product launches. Hunches are based on "gut feeling" not market evidence, and are guesses. With an initiative as important as a product launch there is no room for guessing. Watch out for “I think we should…”.
Make launch planning decisions based on market evidence not guesses.
#8 - The launch plan mimics your competitor
Just because one company chooses a particular launch tactic doesn’t mean it will work for another. The easy way to launch a product is to mimic competitors and expect good things to happen. However, there are too many factors at play to guarantee the same tactic will have equivalent outcomes. Mimicking a competitor assumes they are smarter than you.
An intimate knowledge of buyers and the buying process provides the best guidance for the most effective launch tactics.
#9 - Existing customers are not adequately considered in the launch plan
It’s staggering how many organizations fail to recognize the impact a new version of a product can have on existing customers. They get so focused on acquiring new customers they forget about existing customers who, if not properly nurtured through the migration, may feel compelled to evaluate competitive alternatives.
Existing customers need special consideration from buyers. Ignore them at your own peril.
#10 - The launch team isn't a team
It’s Susan and she’s overwhelmed. Product launch is a team sport involving a range of expertise. No single individual can possibly know all the details, especially in large organizations. This necessitates the creation of a cross-functional launch team, where individuals with unique perspectives and experience can contribute to a successful launch. The reality though is team members have full-time responsibilities outside of the launch team impacting their timely contribution.
Make participation in a cross-functional launch team a priority and reward their contribution.
Conclusion
Checking another completed deliverable off the launch checklist isn’t a product launch. A successful launch is about generating sales velocity. But it’s easy to slip into a routine of committing resources and budget to produce deliverables, without ever questioning their value. A successful product launch is anchored in goals clearly understood throughout the launch team, using a strategy that supports these goals with an understanding of the operational constraints of the organization.
I am a raving fan of Sony Ericsson mobile phones. Recently I received an email from Sony Ericsson as part of what appears to be a customer retention program. The subject of the email is “More tips and tools for your W380a Phone”. The subject was interesting enough for me to open the email, as I’m always looking for ways to get more value out of the things I buy, especially my tech products. The subject got me in but I was disappointed after that.
Their offer, my expectation
OK, I didn’t expect that SE would provide me with tips and tools to turn my W380a into an iPhone, but I did have an expectation that I might find something useful that would validate my decision to buy a SE phone (and maybe another one in the future).
Sometimes there are hidden features in a technical product that are incredibly useful, but are hidden from plain sight (this is a completely different rant best handled by my colleague Steve Johnson). An email coming from the folks who designed and built the phone with an offer of “More tips and tools for your W380a Phone” got me excited that I would learn something new about my phone and hopefully solve a problem for me.
Another important point is I purchased an unlocked phone directly from SE. That places me in a special group of mobile phone owners in the USA. I can do things with my phone that my carrier might otherwise block. As a persona that puts me in a different buyer category than the person who gets a phone exclusively from his carrier, and SE knows this.
Here’s what I received…
The design is pleasant and the layout is easy to follow. I know that it’s definitely from Sony (good brand support, of course) and I know it’s about my phone (image/text).
But did you notice something? There’s a complete absence of tips or tools in the body of the email. I clicked on the link titled “Assistance and enhancers – go to the W380a Support zone” and this is where I landed…
It was the product support landing page for my phone. I would have had to go hunting for the tips and tools that were promised in the email subject line. You probably guessed I didn’t go any farther than this page. I expected tips and tools, but got hunt and peck.
I want to use this example as a learning tool. It’s not intended to slight SE in any way and I don’t know the context (and associated pressure) for why this communication was created.
This email and landing page is just one example of a pervasive problem. In our haste to do something we run the risk of damaging our brand or breaking the bond of trust we’ve worked so hard to earn with our customers.
What’s the point?
Most likely this email is part of a customer retention program. The Apple iPhone is selling at a blistering pace and it is wise for SE find ways to keep the customers they have. Unfortunately this approach isn’t it.
The landing page reminds me of the feature-speak approach so many technology companies use. The “spray and pray” method shows every possible feature with the belief that readers will find the answers to their problems their own. That just doesn’t happen.
What should Sony Ericsson have done differently?
A huge opportunity was lost. My guess is that a boilerplate email template was created where customer names and phone models were pulled from a marketing database. There was nothing tailored to me and my phone at all, just generic links that would work regardless of the phone model.
SE had an opportunity to validate my decision to buy an unlocked phone from them. They also had an opportunity to plant a seed about future products and services. Instead they annoyed me. Annoyed customers seek alternatives.
SE should have a better understanding of their user/buyer persona (me). An empathetic understanding of their personas would have provided clear guidance on what the persona would value.
My challenge to you
Sending email to your customers as part of a customer retention program is more than just a “touch” or an item to clear off your checklist. You have a responsibility to make every connection as valuable as possible. Knowing what would be valuable and what isn’t comes through a buyer persona profile – the ability to see through the eyes of the customer.
Are you using buyer persona profiles to get into the heads of your customers?
Did you fulfill the promise of your offer? How do you know?
Is every communication to existing customers based on a goal, an outcome?
Are you doing what Sony Ericsson did? Are you sure?
My family loved watching Billy Mays’ show Pitchmen. What fascinated me about the show was the process they followed to select a product, estimate the unit potential and develop a pitch. It’s cool to watch the reaction of inventors who finally see their product take off after years of refinement.
I’d like to add a 6th step, which is that Billy had an intuitive understanding of his buyers. With that understanding he could quickly determine which products were winners. Which allowed him to present the perfect solution to the buyer’s problem.
Take the time to understand your buyers and you’ll find that your work as a marketer will be more focused and deliver a higher ROI.
The final article in the 3 tips for product launch marketing success series explores techniques you can use to discover the buying process without making the Sales team feel like you’re treading into their territory.
Successful marketing teams know that an understanding of the buying process is fundamental to product launch marketing success
Part 1 discussed the need to develop an empathetic understanding of buyers through the use of a tool called a buyer persona profile. In complex B2B sales we’re likely to encounter multiple buyers, each with their own set of problems and agendas. This requires multiple buyer persona profiles for each person that will influence a buying decision for your product or service.
Part 2 connected the buyer persona profile to the buying process, which is the missing component of many product launch marketing programs.
The sales team owns selling
Now I want to share some tips with you on how you can discover the buying process without freaking out the sales team. There’s a big turd you could step on without even realizing it. The selling process is the domain of the sales team. The moment you appear to be encroaching on that territory you are opening yourself up to a lot of unwanted attention from said sales team. They will be wary of your nosiness and could see it as a threat. And being that they are usually better connected to the CEO, they will win.
Buying process vs. selling process
Most likely you’ve been exposed to the concept of a company’s selling process. It’s the flow of steps that lead to a sale from the perspective of the salesperson. Sometimes the steps in a selling process are well defined and implemented in a sales force automation system (insert your favorite rant here). Other times it’s an informal process. Yet other times it’s completely ad hoc.
The buying process on the other hand represents the sequence of steps the buyer goes through to make a buying decision. It shows where each buyer persona gets involved in the process. If you think about how you buy a car for your family you’ll immediately connect that the way you want to buy a car isn’t in alignment with how the car salesman wants to sell it to you.
Discovering the buying process
There are three things you can do now to get you started on figuring out the buying process. These activities should be done together as part of an ongoing effort because buying processes change. Sometimes it’s because of a regulatory change and other times it’s because of the economy, for example.
Interview your top salespeople
Do this first. It’s a good way to get an understand of how your company sells and it gives you an opportunity to build bridges with the sales team. However, I want to leave you with a caveat shared by Mike Bosworth in his book CustomerCentric Selling. The top 10% of sales guys aren’t always capable of describing the selling process that makes them successful.
You are looking for patterns in the selling process across a number of interviews (avoid a single data point). When the pattern reveals itself you are ready to proceed to the next step.
Win/Loss analysis
At Pragmatic Marketing we can’t say enough about the value of Win/Loss analysis as a tool to gain insights about what’s working and what’s not – products, buyers and marketing programs.
There are two important points about Win/Loss. The first is that the sales team shouldn’t do them. Period. They are too close to the sale and are not in a position to be objective. Second, it’s an open-ended interview, not a survey.
Win/Loss analysis reveals details about the buying process, which buyer personas are involved, and when they get engaged in the buying process.
Buyer persona research
In Part 1 you learned about the importance of building buyer persona profiles. As you conduct research on your buyer personas, you should regularly probe into how the buyer buys. What steps do they go through? Who approves the purchase? How long does this take in your company?
Connect marketing programs to the buying process
Now that you’ve developed your buyer persona profiles and have an understanding of the buying process, you have a blueprint for mapping marketing programs to each step in it. Instead of reacting to demands of the sales team for the sales tool du jour, you can systematically connect marketing programs to discrete steps in the buying process with a more focused approach that influences buyers at the right step at the right time.
Are you constantly reacting to the sales team’s request for one-off sales tools?
How much more power would your product launch marketing programs be if they were based on how the buyer buys?
A raging debate within marketing departments is how to use social media to drive sales leads. Unfortunately some marketing teams view social media as merely another way to SPAM us. They completely blow it when it comes to social media.
Because social media is cheap
As a B2B marketer you’re probably trying to figure out how to use social media in your marketing mix. You’re trying to stretch your marketing budget as far as you can - and let’s face it - you see social media as a cheap marketing channel. But you don’t want to screw it up. A small misstep and it could backfire.
It’s about thought leadership
For B2B marketers social media is about thought leadership not about generating leads. Thought leadership supported through social media will drive interest in your products and services, because it presents your company as an expert at solving a problem.
It’s about driving traffic
In addition to supporting thought leadership programs, social media is viewed as a tool to influence search engine rankings and increase inbound links.
What do the numbers say?
As a quantitative guy I look to numbers to provide guidance on which marketing programs are working - or not. Thanks to a post by Mac McIntosh at the Sales Lead Insights blog, I viewed a presentation by Forrester titled Using Buyer Social Behavior to Boost B2B Social Media Success. The presentation is a summary of a Forrester survey. One of the questions asked was “Which of the following sources of information impact your decision-making process?”.
Not surprisingly the highest response - at 84% - was “peers and colleagues”. In other words, Word of Mouth. You could conclude by reading these results that social media is irrelevant. However, I believe the question is too broad and doesn’t reveal what we need to know as B2B marketers. Perhaps the question “What sources of information do you use to initiate your search for a solution to a problem?” would have been more revealing. Many people read blog content they reach through search engines without even realizing they’re reading a blog.
My take
Social media should be a component of your marketing mix. It will impact on your ability to influence the buying process. To what degree you may not be able to quantify initially, but over time and with some careful experimentation the answer will present itself.
Read a good blog post lately? Pass it along and I’ll add it to the Friday Follow list.
Challenge: You have a lot to offer and share. Show it by commenting on blog posts you like. It only takes a second and it gets you where you need to be – in the conversation not on the sidelines!
In Part 1 of this series I stated the reason why product launch marketing programs fail is because they fail to influence buyers. To get an empathetic understanding of buyers is through the use of a tool called a buyer persona profile. I also stated that in complex B2B sales we’re likely to encounter multiple buyers, each with their own set of problems and agendas. This requires us to build a buyer persona profile for each person that will influence a buying decision for your product or service.
In Part 2 I’m going to connect the buyer persona profile to the buying process, which is the missing component of many product launch marketing programs.
Buyer persona profiles are a marketing tool
First a little more about buyer persona profiles:
They are a tool for marketing
They are not to be shared with Sales - ever
They represent a typical buyer in a market segment (but can never be perfect)
They go deeper than demographic information
They give us perspective about how the buyer might behave
They allow us to get inside the head of a buyer
In the end a buyer persona profile is a marketing tool that gives us the buyer insight we’re missing. It allows us to connect marketing programs with buyers in a way that compels them to take the next step in making a purchase.
The buying process
A lot of attention is placed on the selling process, but how much time do you dedicate to understanding the buying process? The selling process is how we want a sale to go down. The buying process is how the buyer will buy – step by step. When the two are out of sync, marketing programs are all over the map and the ability to predict the outcome of any given sale is almost impossible.
What’s the first action?
Stop for a moment and consider how your buyers might go about the process of buying your product. After they acknowledge they have a problem that needs to be solved, what do they do next? If they’re like me they do a Google search using words and phrases that describe the problem in a way that’s familiar to me. I wouldn’t search for an air movement device, but I would search for a fan. Can your buyers find you online or are you invisible?
Are you providing enough information?
Once they’ve found a set of potential suppliers that can solve their problem, they might spend some time educating themselves on your company and your offerings before they make a call or fill out form on your web site. Are you providing enough information on your web site to enable them to self educate or are you forcing them to contact you before they are ready? Is there negative information they might find during their search that would dissuade them from considering your company?
Different buyers, different steps
If every buyer were involved in every step of the buying process our job would be much easier. But this isn’t the case. One buyer gets the whole thing started and the rest get pulled in as the buying process progresses. And the number and type of buyers will change depending on economic conditions. You will discover that in tight economic times more buyers are involved in the buying process.
Once the buying process steps are defined, map which buyers are involved in which steps. It doesn’t have to be perfect, it has to be a representative example which you will use to focus your product launch marketing efforts.
Now supply the missing pieces
With a basic understanding of the buying process and when each buyer gets involved, you can map your marketing programs (and sales tools) to each step in the buying process. It becomes obvious what is in place and which buyers you haven’t fully addressed. So instead of reacting to requests from the Sales team you can proactively develop marketing programs that influence each buyer from one step in the buying process to the next.
Next Step: How to discover the buying process without annoying your Sales team
The final article in the series will explore techniques you can use to discover the buying process without making the Sales team feel like your treading into their territory.
Are you building product launch marketing programs around the selling process or the buying process?
Is your company’s selling process in sync with your buyer’s buying process?
My family loved watching Billy Mays’ show Pitchmen. What fascinated me about the show was the process they followed to select a product, estimate the unit potential and develop a pitch. It’s cool to watch the reaction of inventors who finally see their product take off after years of refinement.
