Archives for posts with tag: B2B
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Moving People

July 18, 2016 //
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I was at a music concert the other day. Popular music. It was the main act of the gig and featured a band who were not stellar or globally known but have a few hits under the belt that you would recognise.

I couldn’t name any of their songs while we were driving to the gig, but when they came on you knew them, and could sing along. There were 2 or 3 thousand at the gig, most of whom, I would guess, were fans.

Like a lot of bands, they had a new album coming out and so played a lot of new stuff. Whenever they played one of their big songs, however, the reaction of the audience was immediate and immense, visceral really.

It got me thinking, saddo that I am, about B2B marketing. This connection, this way of moving people, this level of engagement in a band/brand is something that B2B marketers can only dream about. After all, when you hear your favourite song come on, from your favourite band, the song that evokes a great holiday or time in your life, a song that you named your first child after, it inspires a feeling that you’re unlikely to see replicated when you come into work on the Monday and fire up the software that you couldn’t do your job without.

Both things, work and play, are interactions on a 1:1 basis, and even though B2B is selling to a business not a consumer, you’re still selling to an individual, or more likely a collection of individuals, each with a degree of influence and power, but individuals nonetheless, with their own set of likes, dislikes, preferences, reasons for deciding one way or the other.

Perhaps it’s wrong of us as B2B marketers to even think about trying to emulate the kind of engagement that brands strive for with people when they’re out of business, away from work.

Then again, perhaps moving people as consumers and moving people in work is not so different after all.

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Categories Communication, Customers, Marketing, Strategy

What is a Product Roadmap?

June 27, 2016 //
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What do you understand by the term ‘product roadmap’? There are lots of definitions, some narrow and some broad, some internally focused and some market- or customer-focused. And how detailed should a product roadmap be? Should it pin your detailed colours to the mast, or should it be high level, allowing you room for manoeuvre?

I think that over time B2B customers have become somewhat desensitised towards product roadmaps. This is especially true in the software industry where the sheer complexity and number of moving parts, combined with the influences of individual customers, conspire to make roadmap projections aspirational at best and at worst downright misleading and fictional.

The pressures on the business in a dynamic landscape are changing all the time, and I’ve seen businesses where products or product enhancements have arrived 2 or 3 years after they were advertised to come on stream.

But back to product roadmap definitions. The one I use when asked this question defines a product roadmap as a plan of product or platform developments, delivered through a release mechanism – which could be a few or several times a year – through properly managed projects and programmes. After all, you’ve got to be sure that all the parts of the business can fulfil their element of the whole product solution. In other words, the roadmap should really be about when new releases are delivery ready, not sales ready. By all means seed the market, and build the demand to allow for the natural lag of a sales cycle, but publish your roadmap based around genuine availability.

Customers love to see detailed roadmaps, but only if you actually can commit to the associated timings, otherwise the trust quickly evaporates. Just like in sales, you’re only as good as your last quarter. Software development never seems to build in any buffer for the inevitable bumps in the road – probably because the front of the business is pushing for the earliest possible delivery date – and when those bumps occur, it’s very hard to get back on track. That’s why I fall back on the principle of under-promise and over-deliver to customers, and pushing back to the business. The customer comes first, so I’m in favour of high level roadmap pronouncements that strike the right balance between demonstrating progress and allowing wiggle room, so you can be on time, on brief, and maybe even on budget.

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Categories Communication, Customers, Marketing, Planning, Sales, Strategy, Technology

From 0 to 10

June 3, 2016 //
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They say that getting to $10m in revenues is the hardest stage for a B2B company. Why is that?

Well, it’s a combination of factors. In the early days you’re still tinkering with your business model. You’re still figuring out product-market fit. You’re not sure what to concentrate on, to whom, and where. You can’t reap the benefits of scale.

Perhaps most importantly, though, you’re in a real life situation, and subject to the normal pressures of working with other people, both in your company and outside your company. You’re trying to develop something that’s going to have the right appeal to a sufficiently large enough market, yet you probably have a small number of customers who exercise a disproportionately large influence on you, in terms of how they want you to develop your products and services.

You’re torn between giving the paying customers what they want, which is essentially something that’s customised to their requirements, and developing something that does the job for the maximum part of your addressable market, but which doesn’t immediately translate into positive cash-flow. This is especially true in software.

Any company can sell an idea and get funding, possibly running into the millions. Any company that can get from 0 to 10 million – in revenues – and beyond is a different proposition, an animal that has risen above 90% of the other animals and proven itself. It will still have challenges, but it’s done what many have tried and failed to do. It’s a player.

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Categories Customers, Planning, Strategy

The Productive B2B Buyer

April 18, 2016 //
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A few years ago, I used to work with a company called The TAS Group. They invented something called the Sales Velocity Equation, a metric for sales effectiveness.

It was a really simple and powerful way of thinking about how effective a sales person or organisation you are. In a nutshell, your sales velocity for a given time period (let’s say a quarter) is proportional to the total number of qualified deals you work during the period, multiplied by the average deal size, multiplied by the percentage of deals that you win, the total then divided by the average sales cycle length for those won deals during that period. It’s all about speed, the implication being that if in the next period you can improve the factors above the line and reduce the sales cycle length, your speed – or sales effectiveness – increases. Good, huh?

On a number of occasions I suggested that the natural corollary to this is the buyer velocity equation, but my thoughts were not bought into, which is fair enough. I think it still has merit though.

If you’re a B2B buyer – and I suppose you could think too about yourself as a B2C customer or consumer, offline or online, though it’s nowhere near as elegant – you want to be as productive a buyer as you can.

It follows, then, that your productivity within a certain period is a function of the number of projects you have tabled, the average size of those projects, the amount of projects you get off the ground, and the length of time from project conception to project kick-off, or even to project completion. The greater the projects volume and project size, the greater the percentage of projects you get off the ground, and the quicker you get them off the ground, the more productive a buyer you are.

Make sense to me anyway. In the same way as the sales velocity equation, it helps you strip away the waste and the unnecessary and focus on the small number of important levers of success.

 

 

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Categories Customers, Marketing, Planning, Strategy

The B2B Customer Call

April 13, 2016 //
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A B2B customer is far, far more important than a B2C customer. Let me tell you why.

I work from the home office quite a lot of the time. When I’m on a customer call, or a customer’s customer call, and there’s anyone in the house, I always warn them that I’m not to be disturbed unless the house is burning down.

A B2C customer is one customer, one consumer out of many. There are degrees here, of course, since some B2C customers are large or repeat customers, and spend much more money than one-off or small basket-size customers.

A B2B customer, however, doesn’t represent their own interests, they represent the interests of lots of other employees, who are in effect lots of other customers. They’re corporate and they have very, very deep pockets. And for that reason, they’re very important. If they take away their business from you, you lose an awful lot. If one consumer does, it’s no biggie.

A B2B customer call is like the red ‘On Air’ sign outside a broadcasting studio. You’re broadcasting to a large number of individuals and are not to be disturbed. One bad experience is immediately magnified throughout the entire audience – or company.

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Categories Communication, Customers, Marketing, Sales

The Eighth B2B Product Launch Process Step

February 29, 2016 //
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In the seventh B2B product launch process step, we reviewed the outcomes of our efforts and hopefully learned some lessons to help us improve the next time.

So what’s the eighth B2B product launch process step? It’s the same as the last step of the B2B marketing process, the B2B buying process, and the B2B sales process. It’s back to the beginning, to the first step.

The cycle of the B2B product launch process is complete. As at the very beginning, we need to check our facts. We’re onto a new project, a new product launch, step one of a new launch process. Off we go – again!

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Categories Communication, Customers, Marketing, Sales, Strategy

The Third B2B Product Launch Process Step

February 8, 2016 //
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In our second B2B product launch process step, we looked at the kick-off call and how the project team members shared their expectations and requirements. Now it’s time to do something with those requirements.

The third step is to gather those requirements.

What is your objective for this project? Sure, you want a successful launch, but you need to get more granular in terms of specific requirements that you can subsequently measure to get a sense of how you did when you come to the review stage. Also, these requirements need to work across your launch team. You’ve already heard a range of opinions in the kick-off call. Now you need to consolidate them into a set that works best for the business and get everyone behind them.

Here are some of the basics you need to think about:

  • What revenues are you looking to achieve from the project? This may already be stated in your business case document. Numbers of customers, partners, average attachment rate – number of products per customer – increase?
  • What kind of a launch do you need? A phased, ‘soft’ launch with an extended beta phase and a gradual expansion of availability across customers, prospect groups, regions and so on? Or perhaps a ‘hard, big bang’ launch, which carries more risk but gives you more awareness and a quicker hit?
  • What use cases or scenarios will your product cater to? What kind of customers or success stories will you use to best endorse the launch?
  • What will the product do? What is the scope of the product?
  • What are the specific requirements that each department or function involved in the product will have to deliver to? Development, testing, marketing, sales, product management, operations, professional services and implementation, support?

Once you’ve defined all your requirements for your product launch, you need to socialise them with the rest of the team, and be prepared for some toing and froing, before you have an agreed set. Then you can set about figuring out how you’re going to meet them, which is the topic of our fourth step.

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Categories Communication, Customers, Marketing, Sales, Strategy

The Second B2B Product Launch Process Step

February 5, 2016 //
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In our first B2B product launch process step, I recommended you get the fundamental information together and check your facts. Once done, you’re ready for the second step.

This step is to have your kick-off meeting or call. If you’re well organised, it shouldn’t matter if you can’t get people to a physical meeting. A call should be fine.

In this call you need all the major players – or else their delegated representatives – in the product launch to be present. This is where you set your ground rules, make sure expectations are aligned and roles and responsibilities understood. The kick-off is a great opportunity for all those who don’t know each other to get acquainted and understand how their own contribution will butt up to or overlap with the contributions of others.

On this call it’s a good idea for people to share their expectations and their requirements for the project so that everyone is aligned towards the overall objective for the launch – whatever the project team decides that overall objective should be. You can’t do any decent planning without the over-arching objective agreed, so it’s important to agree this before proceeding. This is also an important time for establishing what any dependencies or interdependencies might be for elements in the project. What stages can run in parallel, what have to be sequential, what the rate-determining steps are.

From an interpersonal and cultural perspective, the kick-off is the chance for the project manager of the launch – which might be you – to set the tone for the meetings, how they should be run and what the protocols are for reporting, meeting attendance, escalation procedures and so on.

You can use software or design fancy spreadsheets to help you automate much of the operational stuff, especially with large or comprehensive launches. You still, however, have to get the basics right – the basics I’ve outlined above.

With a good kick-off call under your belt and your objective and requirements defined, you’re all the set for the next stage.

 

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Categories Communication, Customers, Marketing, Sales, Strategy

The First B2B Product Launch Process Step

January 27, 2016 //
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OK, so you’ve seen the signed-off roadmap, or heard about the launch, or perhaps you’re already involved in the earlier steps of the product management lifecycle. Regardless of your personal situation, the first step in the B2B product launch process is this – check your facts.

Sounds obvious doesn’t it? It is, but not everyone does it. Here are some facts you want to consider before anything else:

  • Who’s on the launch team? Who’s the executive sponsor? Who’ll work on the project day-to-day? Who’s project managing the launch? You need a good project manager with good communication skills to stay on track. If it’s you project managing it, great 🙂
  • What are the milestone dates? When will development be done? When will you alpha and / or beta the product? To whom? Work back from when you plan to GA (make the product Generally Available) and build in buffer at every stage
  • How much of the strategy is done? Have you sight of a business case document so you can understand the market analysis, objectives, pricing, positioning, features, benefits etc?
  • What other background documentation is there to help you build a picture? The more there is, the less you need to create, and the less time you need to make with people to interview them for the background, their insight and preferences
  • When’s the launch kick-off call? If one isn’t organised, apply pressure for it

Get armed with these facts and you’ve already won half the battle.

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Categories Communication, Customers, Marketing, Sales, Strategy

The 7-Step B2B Product Launch Process

January 25, 2016 //
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The product lifecycle can be a complicated beast and varies significantly within industries and regions. Not only that, the roles of people in an organisation who either contribute to or manage the product launch can differ quite markedly too. So, with that preamble done, am I drowning a whole series of process-forming posts before I’ve even started?

Not really, no. While job titles and jobs may vary, there are still some generalities and best practices that work for companies selling stuff – products or services – to other companies.

I see 7 broad stages to the B2B product launch process, and I’ll devote my usual post length – long enough to get your attention but not so long as to distract you from other priorities – to each one of them.

People have written 250-page books on managing the product launch. Then again, they’ve done the same for the B2B marketing process, sales cycle, and customer buying cycle, which are other B2B topics that I have addressed before with a total series length that wouldn’t stretch to a chapter.

But these aren’t text books. They’re the distilled experiences of mistakes I’ve made, lessons I’ve learned and the wisdom of people greater than I. I hope you enjoy them.

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Categories Communication, Customers, Marketing, Sales, Strategy
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