Customer Success: New Product Innovation for Growth
The SVP of Product, an executive team member, was looking for future growth opportunities for their profitable (300+ people) SaaS company. The company has a market leadership position in the ad-tech/mar-tech industry with 100s of customers (Global 2000 companies) and several new business opportunities. The key questions that needed to be addressed were:
Of the several new product concepts, how to choose the best one or two products for future growth?
Given the complex digital marketing ecosystem of silo ‘ed data/teams, changing regulations and powerful industry players, how to build for value and scale?
What is the most effective way to build and launch a new product?
We partnered with the SVP of Product as full business owners and applied our product management principles and Integrated Approach to Product Strategy. With a holistic approach, we addressed the key questions and delivered the following key parts of the solution:
An integrated strategy for the new product concepts to better understand user challenges/value, understand competition and go-to market approach.
A new product vision and strategy by leveraging the company’s core strengths of market presence and data sets
Quick and scrappy product iterations to launch products with core value hypothesis and generate user feedback based on an experiential journey of the users
Overall ownership of the new product vision, strategy, roadmap and delivery with dedicated teams of product management, R&D and engineering
We delivered the client-facing alpha and additional iterations of the new product within a few weeks following an Agile Methodology and being scrappy (in 30% of the budgeted cost). The initial product iterations engaged the early customers, brought internal stakeholders/client executive team on-board and provided insights to the subsequent iterations. Some of the key results delivered were:
Product iterations and customer interest motivated people at all levels, CEO to sales reps, in the company to get inspired and support the new product vision and strategy.
Elevated collective thinking on the industry ecosystem and ways to enhance the value to the users in terms of efficiency gains and effort scaling
Well-planned multiple product iterations while keeping the cost low and integrated go to market strategy to drive adoption
For any questions or comments, please contact us: firstname.lastname@example.org