“You don’t need to be a genius or a visionary, or even a college graduate, to be successful. You just need framework and a dream.”
Michael Dell | Founder of DELL
A 2019 Gartner survey identified that only 11% of launches achieve their internal expectations stating that ‘a product launch that meets all internal targets is seldom achieved.’ Additionally, Harvard cites lack of customer need as the single biggest cause of failure.
New product and territory launches are growth ‘force multipliers. When coupled with minimal OPEX impact, they dramatically improve EBITDA and hence a big part of their appeal. However, the chance of failing to meet expectation increases when the launch is predicated on a rigid set of assumptions from existing internal staff. Big Business Agency’s Digital Market Entry Strategy neutralises these internal biases and baselines assumptions as part of Foundation phase of our engagement. View our services.
We recommend taking the bold step to set aside internal politics and outsource the Digital Market Entry Strategy development and execution. This will greatly improve EBIDTA.
Big Business Agency Territory BluePrint delivers the plan to launch existing products to new markets and customers. This includes considerations for multi-currency, culture, language, regulatory and compliance which may differ based on territory – all essential things to focus on when launching a new product into a new market.
The Big Business Agency Territory BluePrint includes:
- Detailed Territory Map including target customers’ attribution, Total Addressable Market (TAM) analysis, buyer attribution, competitive analysis and prospect interviews and insights. This step helps inform pricing and packaging decisions that need to be made when launching a new product.
- Remastered value propositions and counter-competitive messaging, including revamped product roadmaps.
- Complete sales and marketing plan review, including outbound and inbound, campaign planning, PR and media strategy, and customer success framework.
- Measures of success and KPIs are identified and modelled for continuous performance monitoring to ensure that the process of launching a new product is successful.
The Product BluePrint delivers the plan for launching a new product into existing markets and customers. It covers key considerations and the benefits of launching a new product.
The Big Business Agency Product BluePrint includes:
- Validating and testing the product-market fit for the customer problem solved through detailed customer questionnaires and research. This is then distilled into refining the value proposition and competitor counter-messaging to help you understand how to launch a new product.
- Once this is validated, the execution and rollout steps are identified with an updated sales and marketing plan. The associated actions are detailed for your sales team, channel and marketing delivery partners or as the scope for BIg Business Agency partners’ to execute. It is scripted, planned and implemented in detail using world-class project management techniques, ensuring a highly successful new product launch.
- Measures of success and KPIs are identified and modelled for continuous performance monitoring to continue to secure the required financial goals.