Joining us on is Christopher Bray, the Senior Vice President and GM for Cylance, a provider of artificial intelligence and real threat prevention. Christopher has launched products across multiple organizations, and is a top revenue leader. He is uniquely qualified to speak on the topic of new product launch.
In today’s show, we cover a topic for those of you who are refreshing your offerings, “How do you take a new product to market?”
Below is a timestamped summary of the show segments and the topics covered.
Segment 1: Launching a New Product
- Different ways to launch new products. minute 3:46
- Optimizing a new and/or innovative channel. minute 5:46
- Innovative routes to market. minute 7:54
Skip to minute 4:30 to listen to Chris detail innovative ways to launch new products:
“It’s really important, in my experience, to understand where you’re going to get the biggest scale and the biggest return. In a subscription business such as ours in computer security, we look for partners who can help us get maximum distribution. Then, what we’ll do is look at an organization that has a large consumer subscriber base already, understand what their value proposition is, and see how we can enhance that value proposition through security…”
Segment 2: Product Packaging
- Solving the challenge of perceived commoditization. minute 14:18
- Connecting the customer journey to the packaging of the product in an online environment. minute 16:19
- How to constantly re-validate that your assumptions on the customer journey are correct. minute 18:48
Skip to minute 15:04 to watch Chris discuss the challenges of perceived commoditization when it comes to packaging:
“That’s been an interesting journey, and I’ve seen a lot of successes and failures. What’s absolutely key is to keep it simple. Have a clear message that differentiates, but even before you get there, you have to understand what your meaningful and relevant differentiators really are that will resonate with that person who’s looking at your box, because you’ve only got a couple seconds…”
Segment 3: Pricing
- Determining pricing for a new product in a new market. minute 23:47
- Rationalizing the price. minute 27:10
- Equipping the sales force. minute 30:28
Skip to minute 24:11 to hear Chris discuss how to determine pricing for a new product:
“We price our product to be competitive, we’ll benchmark it to a certain extent, but what we’re really focusing on is the differentiators. Why should you be buying from me versus my competition?”
If you want to learn more from what Christopher discussed today, you don’t have to go it alone. Enlist the help of our team of experts here at SBI. We know product launch.