Today in this post we will demonstrate how to integrate your product strategy with your go-to-market strategy. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. The Revenue Growth Diagnostic interactive tool will help you determine if you are likely or unlikely to make your number.
My interview with Terry Hicks, Chief Product Officer at Infusionsoft provides clarity on this topic. Infusionsoft is the leading provider of sales and marketing software for small businesses. Prior to Infusionsoft, Terry led Quickbooks online at Intuit, growing subscribers from 450,000 to 850,000 in under two years. That’s a remarkable track record. Terry is responsible for the company’s entire product development process from determining where to focus the company’s efforts, through new product launch. Watch as we discuss how to integrate your product strategy with your go-to-market strategy.
Your company is investing money in order to growth faster than their industry and competitors. Make sure you are getting it right by integrating your product strategy with your go to market strategy as Terry has. Terry provides three key ways to integrate the product and go-to-market strategies. Watch the episode to dive deep into the use case and think through the insights that can be ‘aha’ moments for your business.
- First, Terry recommends really knowing and understanding your customer. Your product strategy and go-to-market strategy need to determine who you’re trying to serve, and what problems you’re trying to solve.
- Second, really understand the customer’s behavior. The best way to do this is through testing. Because what customers say, and what they do, is often different. Terry recommends setting up simple tests to validate key hypothesis quickly.
- And finally, Terry recommends understanding that the product is everyone’s responsibility. As you’re thinking about customer insights and product testing, include the cross-functional teams.
Companies often spend about 30-40% of top line revenue on product, marketing and sales. This can be the largest expense on your income statement. Yet, many do not look at these as integrated expenses.
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