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Top 10 Ways to Roll Out New Products Successfully Kathy Gogan, VP Marketing

Top 10 Ways to Roll Out New Products Successfully Kathy Gogan, VP Marketing. Why This Presentation?. Recent Study of nearly 300 companies 93% of Marketing department responsible for product launches (89% control budget) 88% use multiple face-to-face meetings to rollout products

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Top 10 Ways to Roll Out New Products Successfully Kathy Gogan, VP Marketing

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  1. Top 10 Ways to Roll Out New Products SuccessfullyKathy Gogan, VP Marketing

  2. Why This Presentation? Recent Study of nearly 300 companies • 93% of Marketing department responsible for product launches (89% control budget) • 88% use multiple face-to-face meetings to rollout products • 69% of companies spend >3 months to launch products (42% over 5 months) • 66% of companies launch 5 or more products/year (45% - 10 or more) Source: Eloquent Market Survey, 2001

  3. Critical Issues • Reducing Time to Market • Communicating a consistent message to channels worldwide • Ensuring the organization understands and assimilates new information • Reducing product launch costs Source: Eloquent Market Survey, 2001

  4. Constantly Launching Products Need New Products Field Fire Drills Product Management Is this You?

  5. Why Does It Matter? Eroding Margins Less time to sell New innovations More channels More, Complex Products Increased Competition

  6. #10 Start Yesterday!

  7. Market Assess. Product Req’ts Product Dev’t Product Launch Today Market Assessment Product Req’ts Product Development Product Launch 10. Start Yesterday!

  8. 10. Start Yesterday! Include rollout as part of the overall product development process • Building consensus on key messages • Leading indicator of market acceptance • Sales tools need lead time • White papers, demos • Technology, solution partners play a larger role today • Set expectations for budget early Develop the Launch Plan Early

  9. #9 Leverage Cross-Functional Team Expertise

  10. 9. Leverage Cross-Functional Team Expertise It takes a village to raise a child or launch a product! • Development • Product marketing • Sales (U.S., Int’l) • Technical sales • Strategic partners • PR, MarCom • Customers • Support

  11. 9. Leverage Cross-Functional Team Expertise • Launch manager • Oversee process • Subject Matter Experts • Author white papers, presentations, webcasts to ensure message consistency • Sales management, “friends and family” analysts, customers and partners • Bullet-proof launch messages, content, and delivery prior to general release • Early indicator of product success in market • Pre-define roles and responsibilities for all

  12. #8 Get to the Point - Fast!

  13. 8. Get to the Point – Fast Where’s the beef? • Summarize key messages • Develop a meaningful theme for internal, external messages • No more than 3 key sub-messages • Repeat throughout the content (mnemonics) • Supporting sales tools should reinforce message

  14. #7 One Size Doesn’t Fit All

  15. 7. One Size Doesn’t Fit All • Different needs for: • Domestic and international launches • Field sales, inside sales, channel partners, distributors, technical sales, service and support • 76% of companies tailor messages • For each audience • Customize the message to what they care about • Tailor delivery with a blend of tools

  16. Example Direct Support

  17. #6 Go “Ugly” Early

  18. 3. Go “Ugly” Early Continually improved versions 2.0, 2.1, 3.0 ,…. Make changes based on user feedback before “go live” Publish version 1.0

  19. #5 KIS – Keep It Simple

  20. 6. KIS -- Keep It Simple for Users • Tailor content to different learning styles • Searchable, prescriptive, • Text-based, rich media, virtual classrooms, live

  21. Tools Used to Communicate “Fly-ins” Ad Hoc calls Conference calls Regional Meetings Interactive Demos Webcasts High Touch Intranet/ Portals Rich Media PPT Slide Deck broadcast email .pdf Datasheets High – Tech Convenience Based on info from Insight Technology, 2001

  22. 6. KIS – Keep It Simple for Users • Tailor content to different learning styles • Searchable, prescriptive, • Text-based, rich media, virtual classrooms, live • Create a comprehensive self-service launch information center • Accessible online and remote • Plan for peak usage, not average • Based on typical user desktop, no special requirements • Don’t expect the field to learn a new process easily

  23. #4 KIS – Keep It Sane

  24. Fly-Ins & Road shows Teleconferences Phone Webinars Internal Web Sites Virtual Classrooms Email LMSs 4. KIS – Keep It Sane for the Launch Team Today’s Launch Processes Challenges Marketing Sales/Channel Complex Process Not Always Engaging No Structured Feedback Delays in Selling Inconsistent Messages High Total Cost

  25. Outbound Outbound Content Production Content Production Content Delivery Content Delivery Results Measurement Follow-Up Inbound Outbound: Flexible, integrated, repeatable delivery Inbound: Tracking to improve effectiveness 4. KIS – Keep It Sane for the Launch Team Where Launches are Going Mktg/Ops/ Training Sales/Channel

  26. #3 Learn From Your Experience

  27. Launches --NOT an event – but a process. 3. Learn From Your Experiences • Post Mortem • Plan to refresh the content throughout the product life cycle • Monitor usage and feedback. Take actions.

  28. Sales Rep New Product Training Score 100 Delivering Results Successful Learning Objective: 80% complete Certification with score of 75% or more ..and those that can oceanfront in Arizona Business Objective: 65% New Customer Close Rate % New Customers Closed 65 Data shows training correlated with performance Data pinpoints individuals needing mgmt attention Other Issues Unprepared 30 30 100 75 Other competitive, product issues? Closing the Loop

  29. #2 Practice What You Preach

  30. 2. Practice What You Preach • Reinforce your own process. • Otherwise, you encourage ad hoc calls, fly-ins, etc…. • Use the same communication tools, -- located in the same repository. • Continually refresh the info with new demos, updated competitive data, etc. • Make it easy for SMEs to update their own content. • Take actions based on the usage, performance, feedback information

  31. #1 Promote Your Products Internally

  32. 1. Promote Your Products Internally • “Build it and • they will come.” • -Field of Dreams

  33. 1. Promote Your Products Internally Special “Go-to-Market” Plans internally as well as externally Use incentives as a way to entice attendees to participate Tracking/follow up - powerful tools to monitor performance and evaluate rep readiness

  34. Top 10 Rules - Recap 10. Start yesterday! 9. Leverage cross-functional team expertise 8. Get to the point – fast 7. One size doesn’t fit all 6. Go “ugly” early 5. Keep it simple for users 4. Keep it sane -- use integrated communications tools 3. Learn from your experiences 2. Practice what you preach 1. Promote your new products internally

  35. Questions?

  36. Thank You!kgogan@eloquent.com650-294-6563

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