Product Launches
Software and service product launches can be of limited scope or huge; but whatever size,
they require many of the same process steps and consideration of the same criteria.
Without the right process, especially up-front, a great deal of time and money can be
wasted. The main steps towards an effective successful launch include:
1. Launch objective setting by management
2. Development of detailed launch plan and budget
3. Selection of partners (e.g., PR, media, and/or web site agencies)
4. Implementation of launch deliverables
5. Completion and evaluation of beta testing for testimonials
6. Training of internal personnel
7. Communications with appropriate industry influencers
8. Communications with prospects and media
9. Follow-thru to maintain the momentum of the launch |
Launch projects may or may not need a large budget. But they must have clear
objectives. I can assist either as an advisor or total launch manager as desired.
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"... we hired Joe to get the process started. He interviewed all of us, coordinated a consensus of our objectives, put together a preliminary budget, began the search for a PR firm (and found us an excellent one when that was very difficult to do), expanded our web site, and generally became our marketing leader... "
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Product Pricing
Software pricing has become quite complex compared to years ago. Now, pricing for a
one-time license fee with a 15% annual maintenance fee is not usually enough. Many
companies need to offer subscription and ASP pricing of varying lengths and terms.
And of course it is imperative that pricing allow for the entry level customer as
well as the large deal - making sure you "don't leave money on the table."
The process of determining the optimum pricing
should be based on the following criteria:
1. Corporate objections (market share vs profit, etc.)
2. Competitive analysis
3. Internal costs (especially for ASP pricing)
4. Target customer segment(s) |
I investigate all of these criteria and make a presentation to management of the findings,
the options available, and my pricing recommendations based on many years of software
product pricing. If desired, I also complete an in-depth analysis of your primary competitors'
product pricing. And I communicate with other industry experts (e.g., major market
research firms) where appropriate to confirm the pricing trends in your market. The
result is a pricing document designed to help the sales organization have one place
to go for all product and service pricing information including product prerequisites,
add-ons, maintenance.
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"We engaged Joe to analyze our pricing and licensing. As a result of implementing his strategies, our average sale price increased over 100% within 12 months!"
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ROI Sales Tools
The sales organization operates most effectively when it has the 'right' tools. The right tools
will shorten the sales cycle and give sales personnel the confidence that they can win the
deal. ROI tools often make the difference between getting in the door and never getting
started. The power of Excel VBA allows easy to use, highly graphical ROI tools to be
developed quickly. These tools can be used by any salesperson and even your
prospects if desired.
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"Joe interviewed the sales staff and developed a first draft of the ROI tool within about a week. The sales people loved it so much they wouldn't wait for our official release before they began using it."
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Product Positioning
Do you often hear from a sales rep that you lost another deal because your pricing is too
high compared to a competitor's product? Or that your product is too complex and
high-end for the typical user? Those and other issues are often caused by a
confusing, or non-existent, product position understanding by the user...
and perhaps your sales personnel too.
Developing a clear, well communicated product position, both externally and internally,
is critical. It involves top management decisions and a dedicated effort to
communicate your product position statement. I facilitate this process...
quickly.
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"I asked Joe to work on a major project evaluating a new product line for this $500M public payroll and tax service bureau. He worked with other consultants in a close-knit team. He was a senior member making many presentations to executive management and generally involved with the product strategies, competitive analyses, and managing the revenue and P&L projections."
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Market Research/Sizing
How do you know if a proposed product idea is a good one? Or whether a newly released
product will meet your revenue expectations? One required component to answer these
questions is a market research effort with detailed market segment sizings. This should
include studying competitors, but it must also evaluate how the user is getting the job
done now. The results of this work may influence whether you develop, or continue, a
product. It must be accurate.
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Business Plan Development
If you are considering seeking funding for a new venture, you must have a saleable
business plan. That means it must contain information that substantiates your
claims. And it must be detailed enough, but not too much, to convince investors
you are worth their trust. This can be done, but it is not easy. It requires
knowledge of what investors want and a good description of how you
plan to be successful.
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"Joe's task was to evaluate the marketplace for Human Resources Software and develop a business plan for a three year period. He developed three different scenarios with charts and graphs that I could use to present the results to the Board of Directors. The Business Plan was first rate and a pleasure for me to present to the Board and was well received by the Board."
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