What to consider in new product launches

In considering launching a new technology solution, technology vendors must take into account the various stages of product marketing. Marketing Communication initiatives, which high levels of awareness and commitment to the new product; Channel Management initiatives, which secures distribution and makes sure that resellers have the resources and knowledge to market the product; and the product launch; activities that help communicate the new technology solution to your resellers or end user.

In developing a technology marketing strategy, the product manager has to take into account various factors. Some are:

Product complexity: A product that requires constant training and education is best served by a direct sales force. However, exclusive partnerships can be created with certain resellers who are willing to commit to selling your product. In many cases, educational materials must be produced that can help with training and resources must be committed to help resellers sell your products better.

Market Segmentation: Segmenting your client base (such as Fortune 500 vs. the SMB market) would make sense if your resources are limited. Will a direct mail campaign work with the SMB market or a more direct sales approach is better? How many decision makers are involved in a Fortune 500 company and how can you influence their decisions? A reseller relationship would make sense if your potential market is divided . For example, your direct sales team can support the Fortune 500 clientele while your channel can focus on the small business market.

Price: The higher the price the more client education is needed. In many cases this is best served by a direct sales team, as they can communicate the features and benefits much more easily. However what type of content is required to support them? Whitepapers? Webcasts? How can the value of your product be best communicated so that the prospect overlooks the price?

Supporting the Reseller Network: How can you communicate the value of your product to your reseller?  Can you have your reseller network communicate the benefits of your product effectively? Is there a dedicated information resource page that your channel team can draw from? Can your company support the channel without undercutting it? Have you a detailed deal registration program in place? Can you pay out your spiffs quickly? Do you have the right tracking systems in place to track sales and deals? Is the transition from reseller to your company smooth?

How well do you know your customer?

In creating an effective technology marketing strategy, the marketing team has to provide a consistent message that touches the potential customer at all points, be it direct mail, email newsletters, online content, blogs, whitepapers, direct sales or even channel sales.

Blindly sending out marketing campaigns without understanding who your customers are, their motivations to buy, how segmented your clients are is not a smart marketing move. You want to be able to create compelling, targeted messages to each of your customers – remember personalization is key! The most successful campaigns reach consumers in a targeted and consistent manner which also enhances corporate branding.

Alok Chowdhury

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