To get a product to market fast and have it deliver on its targets is no easy feat. Luckily, there are a couple of ways to make it happen and that can help you, as a product owner or manager, get to market faster and more successfully.
Just how difficult is it to get a product to market in time and have it meet the goals you’ve set? Well, if we look at some findings from Gartner it seems rather tough – after all, they’ve shown how only 55 % of launches are actually on time and that a mere 11 % manages to deliver on all the goals that have been set. Rather scary figures when you and your product team may have spent a ton of time perfecting your product and when your organization may depend on its success.
The question, then, is how you can cut your time to market and set a framework that will increase the chance that the goals you’ve set will be met.
3 ways to get to market quicker and reach a better result
Collaborate across functions
According to Gartner’s Senior Research Director, Stephanie Baghdassarian, “the product manager role is one of the most cross-functional in the organization. This is especially true at the product introduction phase when other functions such as marketing, sales, sales enablement and finance come into play”. Something that you probably know already, and that implies that a successful collaboration that goes across functions can play a strong role in your launch. Especially as Gartner has also explained how service and tech providers that fail to prioritize collaboration can risk their product’s success (which isn’t just the case for companies in these industries, but in our opinion goes for most, if not all, product-centric organizations).
This means that you need to find a way to collaborate with the departments and functions that will play a part in your product launch, and work as one entity throughout the whole thing. In other words, those silos that are oh-so common will need to be broken down.
Communicate swiftly and with one voice
To get to market fast and reach the goals you’ve set, you’ll also need a way to communicate your product, messaging and information throughout your organization, and have everyone use the right material. This is especially true when it comes to giving Sales the right material to work with, so that they know what’s going on and what to say to their customers and accounts. Which means that you’ll need a way for Marketing to create and share material with Sales, making it easy to get a hold of the right material and stay on message.
Given how important it is for your message to be consistent, this will be absolute key to gain success on the market – but finding ways to more efficiently communicate and share material can cut your time to market substantially as well.
Find the tech that will help you collaborate, communicate and scale
To make space for collaboration and have the chance to communicate and share material with ease, you should look for tech solutions that can help make it happen. Such as our own SP_CE platform that gives Product Owners, Marketing and Sales a shared space to collaborate in throughout the entire launch, and where you and your Marketing team can easily share material and make it easy to find and use. Which can not just help cut your time to market, but can also set your product up for success as it gives Sales the chance to share the right material with the right prospect – at the right time.
SP_CE can also help you scale your product campaigns and sales processes, which means that it will be easy to grow once your product has gotten traction. A factor that can make all the difference when it comes to having your product deliver on all the goals you’ve set.
Do you want to learn more about how SP_CE can help you get your product to market and have it perform? Contact us for a demo, or check out our Go-to-Market Hub for more resources and material.