Success Story: New Product Innovation for Growth
Updated: Aug 4
Anthony Yam, the SVP of Product and an executive team member at Flashtalking, is responsible to create future growth opportunities. Flashtalking is a profitable (300+ people) SaaS company with a market leadership position in the ad-tech/mar-tech industry with hundreds of customers, which are Global 1000 companies.
The key strategy and product questions were:
How to refine an adjacency strategy and which product ideas to prioritize?
Given the complexity of digital marketing: siloed data/teams, changing regulations, and powerful industry players, how to ensure success?
How to quickly launch a new innovation in the market while reducing risk / without a large R&D expense?
We partnered with the SVP of Product as strategy owners and provided the executive level product support with an Integrated Approach to Product Strategy.
We refined the adjacency strategy based on customer value creation and addressed the key business, product and go-to-market issues through a detailed plan.
After strategic buy-ins, we created a new B2B product vision and strategy to deliver the following:
An integrated adjacency strategy for new product ideas that included the market opportunity, competitive intelligence, and go-to-market
Quick and scrappy product experiments to generate market feedback from real customers and validation of the core value hypothesis
Complete ownership of the new product vision/strategy, roadmaps, and complete delivery with a dedicated team of product management, R&D and engineering
Building product differentiation by leveraging the company’s core competence including their data sets and market access to support growth through expansion of retention ($)
We delivered a new live SaaS product within a few weeks at 30% of their R&D cost (saving 70% of cost).
The initial product experiments generated feedback from the customers, brought internal C-level stakeholders on-board, and provided important learning for the subsequent iterations. Some of the key results delivered were:
Successful product iterations and real customer interest motivated people at all levels, CEO to sales at Flashtalking to get inspired and support the new product
Elevated collective thinking on the industry ecosystem and ways to enhance the customer value and in turn, expansion of retention (in $ terms)
A differentiated product capability at a low R&D cost to be able to invest in go to market and business scaling initiatives
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