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By David Daniels
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                                                                                                                  2



About the Author
                Dave Daniels is an instructor for
                Pragmatic Marketing with more                                                                Business                              Marketing
                than 25 years of experience.                                                                   Plan
                                                                                                                               Positioning
                                                                                                                                                     Plan                   Pragmatic
                He specializes in product                                                                                                                                   Marketing
                                                                             Market         Market                               Buying            Customer
                marketing and product launch,                               Problems       Definition
                                                                                                              Pricing
                                                                                                                                 Process          Acquisition               Framework™
                with an emphasis on effective
                go-to-market strategies and                                 Win/Loss      Distribution       Buy, Build          Buyer             Customer
                                                                                                                                                                            A Market-Driven Model for
execution. His extensive background includes                                Analysis       Strategy          or Partner         Personas           Retention                Managing and Marketing
development, sales, product management and                                                                                                                                  Technology Products
                                                                            Distinctive    Product            Product             User              Program
product marketing, with a global perspective                               Competence      Portfolio        Profitability       Personas         Effectiveness
of the entire product launch process.




                                                               STRATEGIC




                                                                                                                                                                                                               TACTICAL
                                                                            MARKET         STRATEGY          BUSINESS           PLANNING          PROGRAMS           READINESS              SUPPORT
Prior to joining Pragmatic Marketing, Dave
founded Launch Clinic, a consulting company                                Competitive      Product
                                                                                                             Innovation       Requirements
                                                                                                                                                    Launch              Sales             Presentations
                                                                           Landscape       Roadmap                                                   Plan              Process              & Demos
focused on helping organizations implement
successful launch strategies. He speaks at
                                                                           Technology                                             Use              Thought                                  “Special“
many industry events about launch best-                                    Assessment                                           Scenarios         Leadership
                                                                                                                                                                      Collateral
                                                                                                                                                                                              Calls
practices and writes the Launch Clinic blog.
                                                                                                                                 Status             Lead                Sales                  Event
                                                                                                                               Dashboard          Generation            Tools                 Support
Contact Dave at ddaniels@pragmaticmarketing.com

                                                                                                                                                  Referrals &          Channel               Channel
                                                                                                                                                  References           Training              Support


                                                                                                                                                                       © 1993-2009 Pragmatic Marketing, Inc.




  Feel free to post this ebook on your blog or e-mail it to whomever you believe would benefit from reading it.


                                                                                                             Copyright © 2009 Pragmatic Marketing, Inc. All rights reserved.
                                                                                     Copyright holder is licensing this under the Creative Commons License. Attribution 3.0.
                                                                                                                                       http://creativecommons.org/licenses/by/3.0/
                     Other product and/or company names mentioned in this e-book may be trademarks or registered trademarks of their respective companies and are the sole property of their respective owners.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                                                                             3




                                                                                                                                             I always tried to turn every
Products don’t sell themselves
The process of introducing a product to market is a serious undertaking.
                                                                                                                                            disaster into an opportunity.
Unfortunately for many companies it’s merely an afterthought; a set of
deliverables created from a checklist at the end of product development.                                                                          John D. Rockefeller
When the level of effort and resources applied to the creation of the product
dwarfs that of the launch, it’s no wonder product launches fail to achieve the
sales velocity anticipated.
What follows are ten easily identifiable signs that help forecast if a product
launch may be in trouble. Signs you can address and fix before the launch
becomes a disaster.




          Only 38% of companies rank their launches as highly successful
          (source: Business-to-Business Launch Sur vey Executive Summary, Schneider Associates, Center for Business Innovation at Babson College, 2007)
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                     4




1   There are no goals for the product launch

    Launch goals are the cornerstone of a successful product launch, yet                   Goals help you channel
    many companies fail to establish them. CEOs have an expectation of what
    success looks like and believe the rest of the organization understands               your energy into action.
    these expectations. But often they aren’t translated into meaningful goals,
    understood by the people tasked with planning and executing the launch.                     Les Brown
    For the sales team, goals are clearly understood. They have a quota to meet
    and get rewarded accordingly. For the marketing team their contribution
    to the goal is less clear. Sales leads are one measure of performance but
    connecting this measurement to a sales goal is often problematic. For
    example, getting agreement on a common definition of a lead.
    The target for Sales seems clear but will the revenue come from existing
    customers or new buyers?
    This question may seem benign to the sales team, but it’s fundamental to the
    marketing team as they devise strategies and tactics to support the sales goal.
    When the connection between the sales goal and what the marketing team
                                                                                                Action
    does becomes unclear, the marketing team often retreats into areas they can          Establish launch goals with
    control and manage. For example, focusing on deliverables like collateral, web     the executive team as early as
    content and sales tools. In effect becoming reactionary to the sales team’s       possible and communicate them
    requests rather than taking a leadership role.
                                                                                      in meaningful ways throughout
                                                                                              the organization.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                                           5




                        The launch strategy is based on a set of deliverables
  2                     from a launch “checklist”
                        A launch checklist is not a launch strategy.
                        It usually gets created after a failed launch.
                        Expected deliverables are missing, the sales
                                                                          ensure the next launch won’t be an issue,
                                                                          she creates a Project Management Office
                                                                          (PMO) to oversee future launches.
                                                                                                                         An effective product launch checklist is
                                                                                                                         developed only after establishing launch
                                                                                                                         goals and then choosing the best strategy
                        team isn’t trained, the systems for booking                                                      to support them. The checklist will change
                        and delivering the sale are overlooked, and       The head of the PMO is a highly regarded       from launch to launch, adjusting to
                        on and on…                                        project manager who addresses                  accommodate the strategy. Products early
                                                                          the problem by interviewing every              in their lifecycle, which are undergoing
                        To prevent this problem from happening            department in the company. Fresh from          significant change, will see a more dynamic
                        again, someone is assigned to go around           the recent failure, everyone is more           process than a mature product with an
                        the organization and ask each functional          than eager to participate. The result is a     established customer base undergoing
                        area what they want for a successful              “thorough” checklist and a master project      only incremental updates.
All men can see these   launch. The problem is that “successful”          plan template.
                        is defined very differently by everyone,
  tactics whereby       particularly if the launch goals are unclear.     Confident the problem is solved, the PMO
                        The result is a bloated wish list of activities   proceeds to oversee the next launch.
I conquer, but what     with questionable value, often growing            Based on the checklist, the launch team
                        with each successive launch.                      knows what’s expected and which
 none can see is the                                                      deliverables they are responsible for
                           The CEO of a software company,                 completing. This time the launch is
strategy out of which      frustrated with poor results from an           delayed by several months while each
 victory is evolved.       important product launch, decides it’s         item on the checklist is completed to the
                           time for action. Her reputation with the       satisfaction of the PMO. Sadly, the revenue
     –Sun Tzu
                           board of directors is on the line because      results were no better than the last launch.                 Action
                           the promised results were not realized. To
                                                                                                                                  Once launch goals are
                                                                                                                                established, formulate the
                                                                                                                                launch strategy and then
                                                                                                                                 define the deliverables.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                           6




    The launch plan contains unrealistic timeframes
    and expectations

3
    Optimism is wonderful but it can blind teams to the realities of constraints and        Optimism is the madness
    capabilities within an organization. It’s wise to evaluate the organization within
    the context of the product being launched to identify readiness gaps. This is            insisting that all is well
    more than just getting the product ready. It means the entire organization
    is ready to market, sell, deliver and support at a level that can achieve                when we are miserable.
    the launch goals.
                                                                                                     Voltaire
       Widget Tech was planning to introduce a new product to market. The product
       was a departure from the typical products Widget Tech developed and would
       be sold to a new set of buyers. The company was excited about the new
       potential for revenue growth. However, the launch was a fiasco and it became
       apparent the launch goals were unrealistic and the change was too much for
       the sales channel to absorb within the time allocated.
    The key is to assess the organization objectively and not color the assessment
    with personal bias. This readiness assessment should provide management
    with a realistic picture of the risks and provide a plan to address them. In                   Action
    some cases it will become evident the launch goals are too aggressive and
    will need to be adjusted.                                                              Evaluate launch goals against
                                                                                         the ability of the organization to
                                                                                         execute. Then develop a plan of
                                                                                         action to fill the readiness gaps.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                           7




    Sales enablement training is based on product features
    Sales enablement training is one of the most critical components of a          The delivery of the right information to
    successful launch. Unfortunately most training is packed with information
    about the product emphasizing the newest features, the schedule of the         the right person at the right time and
    marketing programs, an overview of sales tools, and a product demo.
                                                                                   in the right place necessary to move a


4
    This type of training lacks any insight or information to help individual
    salespeople achieve their sales quota. Successful salespeople solve problems     specific sales opportunity forward.
    for their buyers, they don’t sell features. Inevitably some of the product
    features your buyers find most valuable are not necessarily the newest ones,                    Lee Levitt
    or the ones you think are important or cool!
                                                                                             Definition of sales enablement
    Salespeople need to know what problem the product solves, which
    buyers have the problem, what criteria they use to make a buying decision,
    and how to have a conversation with those buyers in a way that results
    in a purchase.

                                                                                                   Action
                                                                                              Become an expert
                                                                                               on how and why
                                                                                               your buyers buy.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                                                                   8




    Significant effort is spent creating collateral
    and sales tools for people who never read it
    Ninety percent of sales tools are never used by salespeople, yet marketing                                                  Your buyers want to know what
    teams keep producing them. They also include a staggering amount of
    gobbledygook. Does it really matter to your buyer that you’re “the leading                                               specific problems your product solves,
    provider” of anything or that your software is “robust”? Maybe; but it depends
    on the buyer, not your ego.                                                                                              and they want proof that it works—
    Part of the problem occurs as a result of blindly following a launch checklist                                                    in plain language.
    which serves as a proxy for a launch strategy. Marketing Communications




5
    becomes a factory producing a collection of marketing materials that’s a wish                                                   David Meerman Scott
    list from the sales team.
    But, solidly anchored in launch goals, a clear strategy, and a deep understanding
    of buyers, Marketing Communications has the context to build the collateral
    and sales tools that influence buyers throughout the buying process.


    Note: in this context, collateral is designed for prospects and customers, sales tools are created for the sales team.               Action
                                                                                                                                   Focus on gaining a deep
                                                                                                                                understanding of your buyers,
                                                                                                                                   then build collateral and
                                                                                                                                 sales tools to influence them
                                                                                                                                 through the buying process.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                        9




    No single person is responsible
    for driving product launch results
    Many business-to-business (B2B) organizations have just one window                      Whatever happens,
    of opportunity to launch each year. Accountability for driving results is
    fundamental to the success of a launch, but too often central accountability is         take responsibility.
    assumed to be in place when it’s really distributed among several individuals.
    Development does their part and throws it over the wall to Marketing.                    Anthony Robbins
    Marketing does their part and throws it over the wall to Sales. When the
    launch fails, those in one group will confidently state they made a solid
    contribution and blame the others.
    A successful launch takes more than merely coordinating the completion
    of tasks among departments. It takes an individual who can drive results
    throughout the organization. A launch owner provides a single point of



6
    accountability, ensuring product launch planning and execution has the high
    priority it deserves.
    Getting involved as early as possible, a launch owner can collaborate with
    the management team to establish launch goals and the strategy needed to
                                                                                                Action
    achieve them. With goals defined, a launch owner can assemble and lead the           Assign the responsibility for
    most appropriate cross-functional launch team. Regardless of their current         achieving the launch goals to a
    job title, the launch owner needs strong leadership skills and the confidence     launch owner, and provide them
    that management will support them.                                                with the flexibility and resources
                                                                                             to make it happen.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                          10




    The launch plan is based on hunches,
    not market evidence
    Hunches may be great for gambling but not for a successful product launch.              Whatever happened to playing
    Hunches are guesses based on “gut feeling,” not market evidence.
                                                                                             a hunch, Scully? The element
       Your hunch says you can steal customers away from your primary competitor.
       It’s exhilarating to do this, but would you bet the success of your launch on this      of surprise, random acts
       strategy? You might, if you have market evidence the competitor is in a weak
       position, or is failing to provide adequate service to their customers.                    of unpredictably?
       Suppose your marketing team is planning to exhibit at a tradeshow to
       announce your new product. If your launch goal is to build sales velocity, how                Fox Mulder
       would you know if this is the right tactic? You would if there is market evidence
       enough buyers of the kind you need will be in attendance.
    Market evidence helps mitigate the risk that a hunch will be wrong. It helps
    make sound business decisions and develop a launch strategy based on
    market facts rather than intuition.
    With an initiative as important as a product launch there is no                                  Action

7
    room for guessing.
                                                                                            Make launch planning decisions
                                                                                              based on market evidence
                                                                                                     not guesses. 
Is your product launch Doomed? 10 ways to identify an impending launch disaster                         11




    The launch plan mimics your competitor
    Just because one organization chooses a particular launch tactic           If you mimic market
    doesn’t mean it will work for another. What may seem like an easy
    option is to mimic your competitor. However, there are too many           leaders, you’ll only add
    factors in play to guarantee the same tactic will have equivalent
    outcomes. Mimicking a competitor also assumes they are                      to their dominance.
    smarter than you.
                                                                                  Jon Spoelestra
    Choosing to mimic a competitor is the result of inexperience or a
    limited launch planning window. It’s easier to copy something that
    appears to be successful than it is to develop a sound plan based
    on your own capabilities. Mimicking a competitor can lead to lost
    market opportunity, misdirection of resources, and loss of focus.
    The context competitors use for a given launch could be completely
    different than the context of your product launch. Due to strong
    brand equity, companies like Apple can choose tactics that will
    work brilliantly for them, but may spell disaster for your company.
                                                                                   Action
                                                                          An intimate knowledge of buyers
                                                                          and the buying process provides
                                                                           the best guidance for the most



8
                                                                               effective launch tactics.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                                   12




    Existing customers are not adequately
    considered in the launch plan
    It’s staggering how many organizations fail to recognize the impact a new                Profit in business comes from repeat
    version of a product can have on existing customers. They’re so focused on
    acquiring new business, they forget about the current customer base—the                 customers, customers that boast about
    ones they’ve worked so hard to acquire and nurture.
                                                                                            your project or service, and that bring
     A new customer has an understanding that getting from where they are
    today to fully deploying your product will likely take some work on their part.                  friends with them.
    However, existing customers don’t share this expectation. They’ve already
    made the investment and feel a transition to a new version of the product                       W. Edwards Deming
    should be relatively painless. They trust you will take care of them.
       Your product has been very successful and gained the market share it can.
       To grow revenue, you’ve discovered an opportunity in an adjacent market
       segment. But in order to enter this new segment, radical changes must be made
       to support critical capabilities expected by this new market. However, the cost of
       supporting two products is prohibitive so you merge the two sets of capabilities
       into one product.                                                                                 Action
       The launch of the updated product attracts customers in the new segment                     Ensure the migration to a
       but existing customers won’t migrate to the new version. The impact on their              new version of your product
       business is just too great.                                                              is smooth and straightforward
                                                                                                     for current customers.
    When the pain of migrating to a new version of a product (from the
    same vendor) is perceived to be equal or greater than the migration to a
    competitor’s product, customers will often evaluate competitive offerings.




9
    At best they may delay. At worst they switch to the competitor. This could
    spell disaster for your product launch.
Is your product launch Doomed? 10 ways to identify an impending launch disaster                                        13




     The launch team isn’t a team
     Have you ever been responsible for a product launch and felt like you were the     Coming together is a beginning.
     only one doing the work?
                                                                                          Keeping together is progress.
     Product launch is a team sport involving a range of expertise. No single
     individual can possibly know all the details, especially in large organizations.     Working together is success.
     This necessitates the creation of a cross-functional launch team, where
     individuals can contribute their unique perspectives and experience.                          Henry Ford
     The value of successful cross-functional teams is well documented, increasing
     exponentially with the size of an organization. However, so does the
     complexity of driving results.
     Breakdown occurs when the launch team isn’t really a team at all. It’s a
     collection of individuals from various parts of the organization who are
     impacted by the launch, but whose management doesn’t encourage or
     reward their participation in the team. Sound familiar? Why would a launch
     team member put in the hard work to make the launch successful if it’s not
     deemed important by their manager?
                                                                                                  Action
                                                                                          Make participation in a cross-
     The launch team consists of three distinct roles. The launch owner is              functional launch team a priority
     responsible for organizing and driving the launch team. The launch team              and reward the contribution.
     members are ambassadors from their respective functional areas. An
     executive sponsor helps break down barriers, serve as a mentor and acts
     as political muscle.




10
Is your product launch Doomed? 10 ways to identify an impending launch disaster                             14




Are you ready to launch?
            I DON’T
 YES   NO
             KNOW

                      Were you happy with the results of your last product launch?

                      Is your team clear about their launch roles and responsibilities?

                      Are launch goals established and communicated to your team?

                      Do you have a designated launch owner?

                      Is the approach to product launch a team effort?

                      Does your launch team follow a proven launch process?

                      Do you consider different launch strategies for each product launch?

                      Do you collaborate launch planning among functional areas?

                      Is your team learning from each launch experience?

                      Do you identify and address readiness gaps before launch?



                 Each “yes” gets you closer to a successful product launch. Each “no” or “I don’t know”
                 gets you further away from sales velocity. If your company is like many others, you will
                 have the opportunity to launch only once this year, make it the priority it deserves!
Is your product launch Doomed? 10 ways to identify an impending launch disaster   15




Commit to a New Direction
Checking another completed task off the launch checklist isn’t a product
launch. A successful launch is about generating sales velocity. But it’s easy
to slip into a routine of committing resources and budget to produce
deliverables, without ever questioning their value.
A successful product launch is anchored in clearly understood goals, using a
strategy that supports these goals, with an understanding of the operational
constraints of the organization.
16




    10 ways to
     identify an
     impending
launch disaster
                1. There are no goals for the product launch

                2. The launch strategy is based on a set of deliverables from
                   a launch “checklist”

                3. The launch plan contains unrealistic timeframes and expectations

                4. Sales enablement training is based on product features

                5. Significant effort is spent creating collateral and sales tools for people
                   who never read it

                6. No single person is responsible for driving product launch results

                7. The launch plan is based on hunches, not market evidence

                8. The launch plan mimics your competitor

                9. Existing customers are not adequately considered in the launch plan

               10. The launch team isn’t a team
Is your product launch Doomed? 10 ways to identify an impending launch disaster                          17




I hope you enjoyed this e-book and it gives you some food for thought.
If you want to learn more, check out the following.
                                                          – Dave




 Launch Clinic              Dave Daniels’ Launch Clinic blog




                           Follow Dave @launchclinic




                           Attend a Product Launch Essentials™ seminar or we can come to you




                           Get a complimentary subscription to The Pragmatic Marketer digital magazine

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Product Launch Doomed

  • 2. Is your product launch Doomed? 10 ways to identify an impending launch disaster 2 About the Author Dave Daniels is an instructor for Pragmatic Marketing with more Business Marketing than 25 years of experience. Plan Positioning Plan Pragmatic He specializes in product Marketing Market Market Buying Customer marketing and product launch, Problems Definition Pricing Process Acquisition Framework™ with an emphasis on effective go-to-market strategies and Win/Loss Distribution Buy, Build Buyer Customer A Market-Driven Model for execution. His extensive background includes Analysis Strategy or Partner Personas Retention Managing and Marketing development, sales, product management and Technology Products Distinctive Product Product User Program product marketing, with a global perspective Competence Portfolio Profitability Personas Effectiveness of the entire product launch process. STRATEGIC TACTICAL MARKET STRATEGY BUSINESS PLANNING PROGRAMS READINESS SUPPORT Prior to joining Pragmatic Marketing, Dave founded Launch Clinic, a consulting company Competitive Product Innovation Requirements Launch Sales Presentations Landscape Roadmap Plan Process & Demos focused on helping organizations implement successful launch strategies. He speaks at Technology Use Thought “Special“ many industry events about launch best- Assessment Scenarios Leadership Collateral Calls practices and writes the Launch Clinic blog. Status Lead Sales Event Dashboard Generation Tools Support Contact Dave at ddaniels@pragmaticmarketing.com Referrals & Channel Channel References Training Support © 1993-2009 Pragmatic Marketing, Inc. Feel free to post this ebook on your blog or e-mail it to whomever you believe would benefit from reading it. Copyright © 2009 Pragmatic Marketing, Inc. All rights reserved. Copyright holder is licensing this under the Creative Commons License. Attribution 3.0. http://creativecommons.org/licenses/by/3.0/ Other product and/or company names mentioned in this e-book may be trademarks or registered trademarks of their respective companies and are the sole property of their respective owners.
  • 3. Is your product launch Doomed? 10 ways to identify an impending launch disaster 3 I always tried to turn every Products don’t sell themselves The process of introducing a product to market is a serious undertaking. disaster into an opportunity. Unfortunately for many companies it’s merely an afterthought; a set of deliverables created from a checklist at the end of product development. John D. Rockefeller When the level of effort and resources applied to the creation of the product dwarfs that of the launch, it’s no wonder product launches fail to achieve the sales velocity anticipated. What follows are ten easily identifiable signs that help forecast if a product launch may be in trouble. Signs you can address and fix before the launch becomes a disaster. Only 38% of companies rank their launches as highly successful (source: Business-to-Business Launch Sur vey Executive Summary, Schneider Associates, Center for Business Innovation at Babson College, 2007)
  • 4. Is your product launch Doomed? 10 ways to identify an impending launch disaster 4 1 There are no goals for the product launch Launch goals are the cornerstone of a successful product launch, yet Goals help you channel many companies fail to establish them. CEOs have an expectation of what success looks like and believe the rest of the organization understands your energy into action. these expectations. But often they aren’t translated into meaningful goals, understood by the people tasked with planning and executing the launch. Les Brown For the sales team, goals are clearly understood. They have a quota to meet and get rewarded accordingly. For the marketing team their contribution to the goal is less clear. Sales leads are one measure of performance but connecting this measurement to a sales goal is often problematic. For example, getting agreement on a common definition of a lead. The target for Sales seems clear but will the revenue come from existing customers or new buyers? This question may seem benign to the sales team, but it’s fundamental to the marketing team as they devise strategies and tactics to support the sales goal. When the connection between the sales goal and what the marketing team Action does becomes unclear, the marketing team often retreats into areas they can Establish launch goals with control and manage. For example, focusing on deliverables like collateral, web the executive team as early as content and sales tools. In effect becoming reactionary to the sales team’s possible and communicate them requests rather than taking a leadership role. in meaningful ways throughout the organization.
  • 5. Is your product launch Doomed? 10 ways to identify an impending launch disaster 5 The launch strategy is based on a set of deliverables 2 from a launch “checklist” A launch checklist is not a launch strategy. It usually gets created after a failed launch. Expected deliverables are missing, the sales ensure the next launch won’t be an issue, she creates a Project Management Office (PMO) to oversee future launches. An effective product launch checklist is developed only after establishing launch goals and then choosing the best strategy team isn’t trained, the systems for booking to support them. The checklist will change and delivering the sale are overlooked, and The head of the PMO is a highly regarded from launch to launch, adjusting to on and on… project manager who addresses accommodate the strategy. Products early the problem by interviewing every in their lifecycle, which are undergoing To prevent this problem from happening department in the company. Fresh from significant change, will see a more dynamic again, someone is assigned to go around the recent failure, everyone is more process than a mature product with an the organization and ask each functional than eager to participate. The result is a established customer base undergoing area what they want for a successful “thorough” checklist and a master project only incremental updates. All men can see these launch. The problem is that “successful” plan template. is defined very differently by everyone, tactics whereby particularly if the launch goals are unclear. Confident the problem is solved, the PMO The result is a bloated wish list of activities proceeds to oversee the next launch. I conquer, but what with questionable value, often growing Based on the checklist, the launch team with each successive launch. knows what’s expected and which none can see is the deliverables they are responsible for The CEO of a software company, completing. This time the launch is strategy out of which frustrated with poor results from an delayed by several months while each victory is evolved. important product launch, decides it’s item on the checklist is completed to the time for action. Her reputation with the satisfaction of the PMO. Sadly, the revenue –Sun Tzu board of directors is on the line because results were no better than the last launch. Action the promised results were not realized. To Once launch goals are established, formulate the launch strategy and then define the deliverables.
  • 6. Is your product launch Doomed? 10 ways to identify an impending launch disaster 6 The launch plan contains unrealistic timeframes and expectations 3 Optimism is wonderful but it can blind teams to the realities of constraints and Optimism is the madness capabilities within an organization. It’s wise to evaluate the organization within the context of the product being launched to identify readiness gaps. This is insisting that all is well more than just getting the product ready. It means the entire organization is ready to market, sell, deliver and support at a level that can achieve when we are miserable. the launch goals. Voltaire Widget Tech was planning to introduce a new product to market. The product was a departure from the typical products Widget Tech developed and would be sold to a new set of buyers. The company was excited about the new potential for revenue growth. However, the launch was a fiasco and it became apparent the launch goals were unrealistic and the change was too much for the sales channel to absorb within the time allocated. The key is to assess the organization objectively and not color the assessment with personal bias. This readiness assessment should provide management with a realistic picture of the risks and provide a plan to address them. In Action some cases it will become evident the launch goals are too aggressive and will need to be adjusted. Evaluate launch goals against the ability of the organization to execute. Then develop a plan of action to fill the readiness gaps.
  • 7. Is your product launch Doomed? 10 ways to identify an impending launch disaster 7 Sales enablement training is based on product features Sales enablement training is one of the most critical components of a The delivery of the right information to successful launch. Unfortunately most training is packed with information about the product emphasizing the newest features, the schedule of the the right person at the right time and marketing programs, an overview of sales tools, and a product demo. in the right place necessary to move a 4 This type of training lacks any insight or information to help individual salespeople achieve their sales quota. Successful salespeople solve problems specific sales opportunity forward. for their buyers, they don’t sell features. Inevitably some of the product features your buyers find most valuable are not necessarily the newest ones, Lee Levitt or the ones you think are important or cool! Definition of sales enablement Salespeople need to know what problem the product solves, which buyers have the problem, what criteria they use to make a buying decision, and how to have a conversation with those buyers in a way that results in a purchase. Action Become an expert on how and why your buyers buy.
  • 8. Is your product launch Doomed? 10 ways to identify an impending launch disaster 8 Significant effort is spent creating collateral and sales tools for people who never read it Ninety percent of sales tools are never used by salespeople, yet marketing Your buyers want to know what teams keep producing them. They also include a staggering amount of gobbledygook. Does it really matter to your buyer that you’re “the leading specific problems your product solves, provider” of anything or that your software is “robust”? Maybe; but it depends on the buyer, not your ego. and they want proof that it works— Part of the problem occurs as a result of blindly following a launch checklist in plain language. which serves as a proxy for a launch strategy. Marketing Communications 5 becomes a factory producing a collection of marketing materials that’s a wish David Meerman Scott list from the sales team. But, solidly anchored in launch goals, a clear strategy, and a deep understanding of buyers, Marketing Communications has the context to build the collateral and sales tools that influence buyers throughout the buying process. Note: in this context, collateral is designed for prospects and customers, sales tools are created for the sales team. Action Focus on gaining a deep understanding of your buyers, then build collateral and sales tools to influence them through the buying process.
  • 9. Is your product launch Doomed? 10 ways to identify an impending launch disaster 9 No single person is responsible for driving product launch results Many business-to-business (B2B) organizations have just one window Whatever happens, of opportunity to launch each year. Accountability for driving results is fundamental to the success of a launch, but too often central accountability is take responsibility. assumed to be in place when it’s really distributed among several individuals. Development does their part and throws it over the wall to Marketing. Anthony Robbins Marketing does their part and throws it over the wall to Sales. When the launch fails, those in one group will confidently state they made a solid contribution and blame the others. A successful launch takes more than merely coordinating the completion of tasks among departments. It takes an individual who can drive results throughout the organization. A launch owner provides a single point of 6 accountability, ensuring product launch planning and execution has the high priority it deserves. Getting involved as early as possible, a launch owner can collaborate with the management team to establish launch goals and the strategy needed to Action achieve them. With goals defined, a launch owner can assemble and lead the Assign the responsibility for most appropriate cross-functional launch team. Regardless of their current achieving the launch goals to a job title, the launch owner needs strong leadership skills and the confidence launch owner, and provide them that management will support them. with the flexibility and resources to make it happen.
  • 10. Is your product launch Doomed? 10 ways to identify an impending launch disaster 10 The launch plan is based on hunches, not market evidence Hunches may be great for gambling but not for a successful product launch. Whatever happened to playing Hunches are guesses based on “gut feeling,” not market evidence. a hunch, Scully? The element Your hunch says you can steal customers away from your primary competitor. It’s exhilarating to do this, but would you bet the success of your launch on this of surprise, random acts strategy? You might, if you have market evidence the competitor is in a weak position, or is failing to provide adequate service to their customers. of unpredictably? Suppose your marketing team is planning to exhibit at a tradeshow to announce your new product. If your launch goal is to build sales velocity, how Fox Mulder would you know if this is the right tactic? You would if there is market evidence enough buyers of the kind you need will be in attendance. Market evidence helps mitigate the risk that a hunch will be wrong. It helps make sound business decisions and develop a launch strategy based on market facts rather than intuition. With an initiative as important as a product launch there is no Action 7 room for guessing. Make launch planning decisions based on market evidence not guesses. 
  • 11. Is your product launch Doomed? 10 ways to identify an impending launch disaster 11 The launch plan mimics your competitor Just because one organization chooses a particular launch tactic If you mimic market doesn’t mean it will work for another. What may seem like an easy option is to mimic your competitor. However, there are too many leaders, you’ll only add factors in play to guarantee the same tactic will have equivalent outcomes. Mimicking a competitor also assumes they are to their dominance. smarter than you. Jon Spoelestra Choosing to mimic a competitor is the result of inexperience or a limited launch planning window. It’s easier to copy something that appears to be successful than it is to develop a sound plan based on your own capabilities. Mimicking a competitor can lead to lost market opportunity, misdirection of resources, and loss of focus. The context competitors use for a given launch could be completely different than the context of your product launch. Due to strong brand equity, companies like Apple can choose tactics that will work brilliantly for them, but may spell disaster for your company. Action An intimate knowledge of buyers and the buying process provides the best guidance for the most 8 effective launch tactics.
  • 12. Is your product launch Doomed? 10 ways to identify an impending launch disaster 12 Existing customers are not adequately considered in the launch plan It’s staggering how many organizations fail to recognize the impact a new Profit in business comes from repeat version of a product can have on existing customers. They’re so focused on acquiring new business, they forget about the current customer base—the customers, customers that boast about ones they’ve worked so hard to acquire and nurture. your project or service, and that bring A new customer has an understanding that getting from where they are today to fully deploying your product will likely take some work on their part. friends with them. However, existing customers don’t share this expectation. They’ve already made the investment and feel a transition to a new version of the product W. Edwards Deming should be relatively painless. They trust you will take care of them. Your product has been very successful and gained the market share it can. To grow revenue, you’ve discovered an opportunity in an adjacent market segment. But in order to enter this new segment, radical changes must be made to support critical capabilities expected by this new market. However, the cost of supporting two products is prohibitive so you merge the two sets of capabilities into one product. Action The launch of the updated product attracts customers in the new segment Ensure the migration to a but existing customers won’t migrate to the new version. The impact on their new version of your product business is just too great. is smooth and straightforward for current customers. When the pain of migrating to a new version of a product (from the same vendor) is perceived to be equal or greater than the migration to a competitor’s product, customers will often evaluate competitive offerings. 9 At best they may delay. At worst they switch to the competitor. This could spell disaster for your product launch.
  • 13. Is your product launch Doomed? 10 ways to identify an impending launch disaster 13 The launch team isn’t a team Have you ever been responsible for a product launch and felt like you were the Coming together is a beginning. only one doing the work? Keeping together is progress. Product launch is a team sport involving a range of expertise. No single individual can possibly know all the details, especially in large organizations. Working together is success. This necessitates the creation of a cross-functional launch team, where individuals can contribute their unique perspectives and experience. Henry Ford The value of successful cross-functional teams is well documented, increasing exponentially with the size of an organization. However, so does the complexity of driving results. Breakdown occurs when the launch team isn’t really a team at all. It’s a collection of individuals from various parts of the organization who are impacted by the launch, but whose management doesn’t encourage or reward their participation in the team. Sound familiar? Why would a launch team member put in the hard work to make the launch successful if it’s not deemed important by their manager? Action Make participation in a cross- The launch team consists of three distinct roles. The launch owner is functional launch team a priority responsible for organizing and driving the launch team. The launch team and reward the contribution. members are ambassadors from their respective functional areas. An executive sponsor helps break down barriers, serve as a mentor and acts as political muscle. 10
  • 14. Is your product launch Doomed? 10 ways to identify an impending launch disaster 14 Are you ready to launch? I DON’T YES NO KNOW Were you happy with the results of your last product launch? Is your team clear about their launch roles and responsibilities? Are launch goals established and communicated to your team? Do you have a designated launch owner? Is the approach to product launch a team effort? Does your launch team follow a proven launch process? Do you consider different launch strategies for each product launch? Do you collaborate launch planning among functional areas? Is your team learning from each launch experience? Do you identify and address readiness gaps before launch? Each “yes” gets you closer to a successful product launch. Each “no” or “I don’t know” gets you further away from sales velocity. If your company is like many others, you will have the opportunity to launch only once this year, make it the priority it deserves!
  • 15. Is your product launch Doomed? 10 ways to identify an impending launch disaster 15 Commit to a New Direction Checking another completed task off the launch checklist isn’t a product launch. A successful launch is about generating sales velocity. But it’s easy to slip into a routine of committing resources and budget to produce deliverables, without ever questioning their value. A successful product launch is anchored in clearly understood goals, using a strategy that supports these goals, with an understanding of the operational constraints of the organization.
  • 16. 16 10 ways to identify an impending launch disaster 1. There are no goals for the product launch 2. The launch strategy is based on a set of deliverables from a launch “checklist” 3. The launch plan contains unrealistic timeframes and expectations 4. Sales enablement training is based on product features 5. Significant effort is spent creating collateral and sales tools for people who never read it 6. No single person is responsible for driving product launch results 7. The launch plan is based on hunches, not market evidence 8. The launch plan mimics your competitor 9. Existing customers are not adequately considered in the launch plan 10. The launch team isn’t a team
  • 17. Is your product launch Doomed? 10 ways to identify an impending launch disaster 17 I hope you enjoyed this e-book and it gives you some food for thought. If you want to learn more, check out the following. – Dave Launch Clinic Dave Daniels’ Launch Clinic blog Follow Dave @launchclinic Attend a Product Launch Essentials™ seminar or we can come to you Get a complimentary subscription to The Pragmatic Marketer digital magazine