Today’s topic is how to launch new products successfully. As a guide, download our 10th annual workbook, How to Make Your Number in 2017. Turn to the product strategy section and flip to the Product Launch and Messaging phase on pages 143 – 146 of the PDF.
Product launches fail to generate revenue when sales people and channel partners are not involved in messaging development during pre-launch preparations. When messaging is developed in isolation it is not compelling enough to get your customers to act. Stories told directly to customers by well-trained sales channels enable customers and prospects to answer “Why change?” and this stimulates latent demand while leading to exceptional revenue growth.
Joining us is Toby Williams, SVP, Chief Product and Strategy Officer for Ellucian. Ellucian is the world’s leading provider of software and services for higher education institution, serving more than 2,400 institutions and 18 million students worldwide. Listen as Toby discusses how to create messaging to defeat the status quo. This starts with market problems that the solution is solving and to capture it through the customer lens.
Toby is responsible for driving product management and strategy, corporate development, M&A, business development, partnerships and cloud business. In the first segment of the show, Toby provides a detailed review of the product launch process at Ellucian. We discuss ‘Why Change’ and the story required to defeat the status quo.
The second segment covers messaging frameworks and ‘Why Change Now?’ Toby describes how to use the client voice and stories to tell the story. Toby and I discuss the power of leveraging the clients voice to deliver how the solution has helped their institution. Not only the buyers, but the users of the solution by positioning the users as heroes has resonated in the market.
In the final segment, Toby answers this hypothetical question; If a new company hired you tomorrow with a mandate to launch new products, what would you do, in what order, and why? Toby describes a programmatic approach that creates order. Listen as Toby outlines an action plan in depth that describes the steps to launch a new product. The new benefit is cross-functional organization readiness.
If you need more help with Product Launch and Messaging, download our 10th annual workbook, How to Make Your Number in 2017. Turn to pages 143 – 146 of the PDF. To request a workshop with an expert simply sign up for a MySBI account and check the box in your preferences to request a workshop.