Going to market with a new product or service is the most exciting thing an entrepreneur, trusted advisor or business owner can do.
You have created, developed, and built something you know the world needs and you can’t wait to share it with them!!
There are so many ways to get your product/service out there. Client Attraction Chain Reaction, by Henry DeVries offers a 56-point punch list for getting noticed, gaining traction and establishing momentum for your service business.
BUT and it’s a BIG BUT!
Are you fully prepared to make the most of your new introduction?
Here are seven steps that you need to take before you launch to your Go To Market campaign as successful as it can be.
- Clarity of value and clarity of customer focus. “You should be able to articulate (your customer value) with clarity in less than 10 words. Think about who you serve. Name them in one, two, or three words — from their perspective, not your perspective. When you can say the who and the what in less than 10 words, it becomes your most valuable tool. For me, I call that the CPOP, your Customer Point of Possibilities. That becomes your compass, your North Star,” explains Mitchell Levy, CEO of Credibility Nation.
- Do you know where best prospects go for information and advice on the vendors and services they use? Where do they network? What do they read? What events/trade shows do they attend? Who do they turn to for advice? Unless you have this down cold, you are likely going to market in the wrong place, wasting time and money.
- Do you test your offering with a core group of friendly customers and partners for usability, customer experience and pricing? If not, run a beta test of your new offering before you launch it. This is a given in industries like software and manufacturing. It is often ignored in service companies. But it is even more important in professional services and consulting because your service is more personal and life changing. Take at least 30-60 days to make sure your service is thoroughly tested before you launch it.
- How many new clients/customers can you handle when your launch is a major success right out of the gate? As a fractional executive that might be 2-3. For a SaaS company or manufacturer that might be a dozen or more. Know your fulfillment number, which depends on your people and process capability.
- Do you have the right people trained and the right number of people available to handle your fulfillment number? If not, get them in place first.
- Do you have a well-designed, streamlined and efficient workflow that will create an exceptional customer experience from the first look at your new product or service? This process needs to be documented, tested internally with your team and used with your beta testers before launch to make sure your new customers have an exceptional experience.
- A new product or service puts your competitors on notice that you are on the move. Knowing in advance how they might react is a critical and much overlooked step in many companies Go To Market preparation. Yet it has the potential to undercut sales of your new service if competitors get there first or quickly respond with a similar or better offering.
Going to market with a new product or service is the most exciting thing an entrepreneur or business owner can do.
There are so many ways to get your product/service out there. Client Attraction Chain Reaction, by Henry DeVries offers a 56-point punch list for getting noticed, gaining traction and establishing momentum for your service business.
Make sure you are ready for the most successful product/service launch of your business life. Download our checklist here.