If your marketing strategy is to be the first in the market and being seen as an innovator, time to market is very critical.
Now that is obvious. However ask yourself, does your product release strategy reflect that? Or are you wavering in your decision about a market potential and later on losing the first mover advantage? Some times its ok to put a lot of your eggs in to one basket when the stakes look juicy.
Lets take an example. Being an innovator means, riding a new technology wave like Ruby on Rails or Node.js or Cloud or iOS and building a product that complements that ecosystem.
To make this marketing strategy work, here are two important aspects.
First release of the product can be ugly code! But go to market first or very very fast. You could rewrite your release 2.0 to suite your ego.
Some companies have a strategy of releasing lots of point tools instead of massive integrated suites. This is good as a customer who needs only a small piece of the suite capability can buy that specific piece. Its also an easier sale. Lower cost sale. Solving a specific problem well. And most importantly, free cross selling for your "mothership" - integrated product suite.
Now let me get back to the second aspect. If you are confused on whether what you do has to be released in to the market as an "add on" to your existing product, or be released as a separate product, do both. But first, release as a separate product. Especially if the capability is credible enough. If you did not understand the second point, read the previous paragraph again.
One mistake we can make is, put our best people on routine stuff and miss a market opportunity completely.
Now that is obvious. However ask yourself, does your product release strategy reflect that? Or are you wavering in your decision about a market potential and later on losing the first mover advantage? Some times its ok to put a lot of your eggs in to one basket when the stakes look juicy.
Lets take an example. Being an innovator means, riding a new technology wave like Ruby on Rails or Node.js or Cloud or iOS and building a product that complements that ecosystem.
To make this marketing strategy work, here are two important aspects.
First release of the product can be ugly code! But go to market first or very very fast. You could rewrite your release 2.0 to suite your ego.
Some companies have a strategy of releasing lots of point tools instead of massive integrated suites. This is good as a customer who needs only a small piece of the suite capability can buy that specific piece. Its also an easier sale. Lower cost sale. Solving a specific problem well. And most importantly, free cross selling for your "mothership" - integrated product suite.
Now let me get back to the second aspect. If you are confused on whether what you do has to be released in to the market as an "add on" to your existing product, or be released as a separate product, do both. But first, release as a separate product. Especially if the capability is credible enough. If you did not understand the second point, read the previous paragraph again.
One mistake we can make is, put our best people on routine stuff and miss a market opportunity completely.
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