PHASE 9: SUNSETTING AND PRODUCT MIGRATION

Retire products that have reached the end of their product life

 

Products in the portfolio are no longer producing desired margins or are losing money. This occurs because of newer versions of products being developed on new platforms or with a new technology, or they are no longer seen as a solution to solve a market problem. The challenge is how to sunset the product or migrate to a new platform without alienating customers and in turn losing revenue or market share. Developing the right migration strategy will not only protect this revenue and market share, but will also be the platform to expand the presence within these same customers.

Rapid Diagnostic

1. Using a research-based approach, a methodology exists to sunset products at the appropriate time.

2. You monitor the market for trends or regulations that may make products obsolete.

3. Your more mature products continue to maintain healthy margins with no consistent decline.

4. You do NOT have multiple versions of the same product in the market differentiated only by minor features or user interface.

5. You have change management including a customer communication plan that informs customers of products that will no longer be supported.

6. You have a sunsetting methodology with a cadence that allows customers to react in advance to products no longer being supported.

7. Using a research-based approach, you understand your customer base and their comfort level with platform changes that allows you to migrate products to new platforms with minimal customer attrition.

8. You monitor the competition for gaps or competitive advantages being gained by using different platforms.

9. A RACI exists across all teams to manage customer expectations for sunsetting or migration plans.

10. Using data-driven models, you have a financial justification model for sunsetting or migrating products.

Deliverables

• Financial Justification Model

• Sunsetting Methodology

• Migration Methodology

• Customer Communication Plan

• RACI

Product Strategy
How Leading CMOs Develop a Strong Messaging Architecture
You are to the point where you have built the ideal go-to-market strategy, completed a thorough buyer segmentation, and you even pulled together a Rockstar sales playbook.  You have clearly defined buyer personas and even a well-defined buyer’s journey.  You...
Read More
Product Strategy
Become a Radically Agile Organization to Create Nimble, Sustainable Products
The modern engineering organization is tooled, skilled, and increasingly experienced in delivering products using Agile methodology. This hard-won transformation required fundamental shifts in the processes by which product is designed, developed, and maintained. Yet the business impact of all this...
Read More
Sales Strategy
How a Global Sales Executive Effectively Manages a Disrupted Partner Ecosystem
Well-established tech companies have typically developed a large, multi-layer partner ecosystem that they rely on. For a sales leader in this environment, problem-solving, and having shared responsibilities with these channel partners is the only way to succeed in moving the...
Read More
Sales Strategy
Adapting Your Go-To-Market During a Crisis: 7 Steps to Mitigate Revenue Impact
Over the last week, we have seen the effects of the COVID-19 pandemic on the market, businesses, and communities. During these unpredictable times, one thing is certain; we cannot control these events, but we can control how we react.   In today’s...
Read More