Why the most successful Chief Product Officers focus on what they can sell—not what they can build.

Ultimately, your product strategy must educate you on which products to invest in and which to forgo. Even the best sales and marketing teams cannot make their number unless they’re in the right markets with the right products.

 

Is your product strategy on track? The following questions help determine whether a course correction is necessary to avoid a revenue miss in 2017:

 

  • Go to market: Does your product messaging resonate with target prospects?

     

  • Differentiators: Do customers recognize the value of your product?

     

  • Market share: Has your product lost market share, with a resulting loss in revenue?

     

If answers to the preceding questions indicate difficulty in marketing and selling your products, it’s time to take another look at your product strategy.

 

Begin by challenging your approach. Too often, product leaders think about what they can build. Instead, consider what can be sold. Also, don’t underestimate the importance of certain product collateral. This includes value propositions, positioning statements, pricing, and packaging, among other considerations.

 

First and foremost, a winning product strategy begins with your customers and ends with alignment across corporate, marketing, and sales functions. Spend time with your customers and prospects to truly understand their pain points and needs. Internally, make sure your product strategy is providing sales and marketing teams with the support necessary to achieve their revenue growth objectives.

 

Have expectations gone up and left you wondering if you can make your number? Leverage the How to Make Your Number in 2018 Workbook to access a revenue growth methodology to hit your number quarter after quarter, and year after year.

 

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Make Your Number in 2017 - Special Strategic Planning Issue

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ABOUT THE AUTHOR

Matt Sharrers

Leads the firm's focus on the CEO’s role in accelerating revenue growth by embracing emerging best practices to grow revenue faster than the industry and competitors. 

Matt Sharrers is the CEO of SBI, a management consulting firm specialized in sales and marketing that is dedicated to helping you Make Your Number. Forbes recognizes SBI as one of The Best Management Consulting Firms in 2017.

 

Over the course of nearly a decade at SBI, Matt Sharrers was an instrumental early partner guiding SBI as the Senior Partner. Matt’s functional responsibilities included acting as the head of sales where he led SBI’s double-digit revenue growth, and was responsible for the hiring function to build SBI’s team of revenue generation experts.

 

Prior joining SBI in 2009, Matt spent eleven years leading sales and marketing team teams as a Vice President of Sales. Matt has “lived in the field.” As a result, he is the foremost expert in the art of separating fact from fiction as it relates to revenue growth best practices. CEOs and Private equity investors turn to Matt’s team at SBI when they need to unlock trapped growth inside of their companies.

 

 

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