• Shikhin Agarwal

Customer Success: New Product Innovation for Growth



Problem

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?


Solution

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

Results

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: info@statslateral.com