cdrllc

Information about cdrllc

Published on April 22, 2008

Author: Malden

Source: authorstream.com

Content

Launching High Tech Products “A Strategic Marketing Perspective”:  Launching High Tech Products “A Strategic Marketing Perspective” CDR Strategic Marketing, LLC Bob Dorn - President Email: [email protected] Phone: 972-307-3933 IEEE - CN Discussion Issues?:  Discussion Issues? Why do some high tech products succeed and others fail? Field of Dreams Marketing - “If we build it, they will come” High Tech Dilemma Do we focus on the product? Do we focus on the customer? Agenda:  Agenda CDR Strategic Marketing Background The Launch Methodology What is Strategic Marketing Examples Sprint ION - Converged (voice, video, data) Network Solution Sprint - Managed and Professional Services Consulting Business CDR Strategic Marketing, LLC:  CDR Strategic Marketing, LLC Increase your marketing bandwidth Outsource your marketing projects Three primary areas of marketing expertise. 1.) New product/service launch 2.) New market development 3.) Sales Effectiveness Is this Strategic Marketing?:  Is this Strategic Marketing? How do customers buy? Conceptual Selling vs. Features & Benefits:  How do customers buy? Conceptual Selling vs. Features & Benefits Customers never buy features Customers will sometimes buy benefits More often customers are buying an intangible A “state of mind” A “feeling” The solution has to be developed around satisfying that intangible. What is being purchased?:  What is being purchased? A Car? A MiniVan? A Pick up Truck? The buy decision is primarily influenced by the “intangible” (A State of Mind). Fun Cool Image Camping Kid taxi Secure hauling Haul Stuff Go Anywhere So how do we determine the intangibles and the tangibles?:  So how do we determine the intangibles and the tangibles? A Proven & Strategic Methodology:  A Proven & Strategic Methodology What is the market landscape? What Solutions are required? How do we position and differentiate? How do we go to market? How & when do we launch this? How are we doing? Where is the Opportunity? Phase 4 Phase 2 Phase 3 Phase 1 Phase 5 Phase 6 Phase 7 Market data, Market needs, Competitive landscape, Market Share, Entry Costs, Market window Market size, Customer needs, market trends, competitive analysis, market segments, adoption incentives/barriers Solution features, Tangibles/Intangibles, Partnerships, Implementation, Training, Support, Resources Competitive differentiation, Integrated messaging, Value Proposition, Pricing, Education, ROI/Payback Marketing Plan, Target Accounts, Market influencers, messages, Advisory board, Analysts, Channels to market The Event, Testimonials, Press Releases, Articles, Analyst Briefings, Alpha Customers, Case Histories Customer Satisfaction, New needs, Problems, Competitive Intelligence, Market growth/decline, re-positioning An integrated & sequential process So what is “Strategic” Marketing:  So what is “Strategic” Marketing Market Analysis Whole Product Definition Infrastructure Identification Positioning Launch Strategy & Plan Implementation & Follow up An Integrated process with everyone pulling in the same direction What if the process isn’t integrated and sequential?:  What if the process isn’t integrated and sequential? The boat will only go round in circles Mass confusion. The processes work against one another OR Things aren’t working! We need to work harder!!:  Things aren’t working! We need to work harder!! You can try to row faster But, if your efforts aren’t synchronized - All your doing is going in the same circle faster The smarter approach :  The smarter approach Slow down Get pointed in the right direction Row as a team So what is the Finish Line:  So what is the Finish Line The finish line is actually your customer But, Guess what? Your customer is in a boat too. Customer And - your customer is moving!:  And - your customer is moving! Customer’s needs change You need to be aware of those changes You need to integrate those changes into your process Positioning:  Positioning What’s important is how you’re perceived by the customer If you look like you can’t help them, then they see a pirate flag on your mast Consequently they will move away from your advances What if you have too many kinds of customers:  What if you have too many kinds of customers The boat can only go in one direction at a time Trying to stand for too many things means you never reach any destination So how do we get to the destination?:  So how do we get to the destination? Row toward the customer with focused solutions You’ll look like you have a red cross flag on your boat to a customer who’s boat is sinking What’s the ultimate process?:  What’s the ultimate process? The customer believes so strongly in what your doing that they get their boat chasing yours Consider Microsoft! Case Histories:  Case Histories 1.) General Electric - Factory Automation Products 2.) Cimflex Teknowledge - Computer Integrated Manufacturing (CIM) System 3.) Texas Instrument - Next Generation OO (CIM) system 4.) Texas Instruments - Development Software co-marketed with Microsoft’s Visual Basic 5.) Texas Instruments - Software repository integrated into Microsoft’s Visual Basic 6.) Sprint - Integrated On Demand Network (ION) 7.) Sprint - Managed and Professional Consulting Service business Sprint ION - Converged Network Service Marketing Landscape:  Sprint ION - Converged Network Service Marketing Landscape World was/is craving high speed internet connections Increasing trend toward convergence combining voice, video and data Increased trend toward telework to reduce office space costs ($4.5-15K vs $1.5K) Last Mile Need solution that can utilize existing “last mile” wiring The Solution:  The Solution Enable High Speed - “DSL on steroids” Provide “LAN type speed” connections away from the office Enable “true” convergence Provide voice, video and data services over the same line Lower costs Enable teleworkers with high speed connection services to/through their company firewall Manage it all Provide managed hub services for network services Go to Market Strategy:  Go to Market Strategy Sell through direct sales force Large business market Small business market Consumer market Leverage alliance co-marketing Consultive sell to get to CXOs Paranet Value sell through the CFO Deloitte Touche Positioning/Differentiation:  Positioning/Differentiation Position Sprint as technological leader First to market with a truly converged network solution Strategic customer relationshops Use ION to provide vision for strategic customer partnerships “The solution” for companies promoting telework Not cost, but total cost of ownership savings Results:  Results Enabled telework Eliminated office space requirements $1,500 vs. $4,500 - $15K+ General Electric, Hallmark, Sysco Foods, Yellow Freight, Fidelity Investments Positioned Sprint as “Technological Innovator” First to market with truly converged network solution Key Take Aways - Don’t under estimate Infrastructure Identification requirements Too many partnerships are difficult to manage “Last mile” issues don’t go away easily “Cold Feet” costs are enormous! Sprint Managed & Professional Services Market Landscape:  Sprint Managed & Professional Services Market Landscape Little differentiation between network providers Push comes to shove, cut the price Major deals are won before the RFQ hits the street If an RFQ is generated! Internet and enterprise applications driving data transfer Data drives network design Managed & professional services provide strategic value add The Solution:  The Solution Telecom Products (Frame, ATM, etc.) Differentiate on value not price Focus on delivering solutions Promote services in addition to offering products Professional Consulting Services Network and Application expertise Web Hosting/Data Centers Strategic network design capabilities Don’t wait on RFQs. Got to get access to the business strategy early! CIO is important CFO is the key Go To Market Strategy:  Go To Market Strategy Had core competency to sell telecom products Differentiate using price, Focus on Telecom Manager Needed core competency to differentiate based on the increased value of the solution: Provision consultative services - Get to the CXO - Paranet Get to the CFO - Deloitte Touche Drive Strategic Long Term Relationships - Seamless Integration Joint account planning - sort out roles & responsibilities “But who owns the account” Positioning/Differentiation:  Positioning/Differentiation Increased value of the deal Provide solutions, not products Drive strategic partnerships with clients Where does your business strategically need to go One Sprint Seamless integration of partnerships Elevate the deal to the strategic “CXO” level Talk their language “ROI, Payback, TCO Savings” Get to the CFO who views all this as “cost”. Results:  Results New strategic focus = Long term clients Purchased Paranet - Transitioned sales force to consultative selling Promoted network & applications expertise Developed network architecture focused on current and future needs Elevated relationships to CXO level Partnered with Deloitte Touche Got Sprint into the CFO Landed major deals that never got to RFQ stage Pilot landed 33 sales; $134M in four months time - SVE Able to remove double commission/compensation and keep the program moving. Its good business to leverage expertise and knowledge To do this right, takes time Overall saves time & money!:  To do this right, takes time Overall saves time & money! (1-4) weeks to collect and analyze data, conduct interviews & chair focus group discussion, write up results. Note: Projected schedule assumes primary research data is readily available. (2-4) weeks to determine market size, customer needs, market trends, competitive analysis, market segments, adoption incentives/barriers . (3-6) weeks to determine solution features, tangibles/intangibles, partnerships, implementation, training, support, resources (2-4) weeks to determine competitive differentiation, integrated messaging, value proposition, pricing, education, ROI/payback (3-6) weeks to determine marketing plan, target accounts, market influencers, messages, advisory board, analysts, channels to market (2-4) weeks to determine the event, testimonials, press releases, articles, analyst briefings, alpha customers, case histories (2-4) weeks to determine customer satisfaction, new needs, problems, competitive intelligence, market growth/decline, re-positioning Estimate 15 - 36 weeks total Phase 4 Phase 2 Phase 3 Phase 1 Phase 5 Phase 6 Phase 7 What is the market landscape? What Solutions are required? How do we position and differentiate? How do we go to market? How & when do we launch this? How are we doing? Where is the Opportunity? The Process Value:  The Process Value The proposed process can have definite and immediate impact on the operational success of the business. Key findings from each element & phase of the project can be utilized immediately, to adjust current business practices and maximize profitability. The completion of the process will provide a valuable tool not only to improve profitability, but to document your market assumptions. This process will provide a working game plan that can maximize the opportunity for business success! What is the market landscape? What Solutions are required? How do we position and differentiate? How do we go to market? How & when do we launch this? How are we doing? Where is the Opportunity? Key Take Aways!:  Key Take Aways! “Field of dreams marketing” does not work! Focus on the customer and use an integrated marketing process to drive the solution! Like the rainbow, a successful new product launch can lead you to the “pot of gold”, BUT REMEMBER... What is the market landscape? What Solutions are required? How do we position and differentiate? How do we go to market? How & when do we launch this? How are we doing? Where is the Opportunity? Appendix:  Appendix What are the smartest places to spend marketing money in an economic decline?:  What are the smartest places to spend marketing money in an economic decline? Customer survey Who are the best customers What are their current needs 80/20 rule Prospect survey Who are the best prospects? Needs, trends, who would/do they buy from Sales process post mortums 10 most recent wins - why/ losses - to whom - why Update presentations - may not address current needs Update CRM database Database is likely 40% inaccurate layoffs, mergers, promotions Lead generation Fresh contacts What services does CDR offer?:  What services does CDR offer? CDR uses an integrated marketing approach with expertise in the following marketing disciplines. New product/service launch Strategic market development, research Channel strategy/development; segmentation Project/Product management Marketing plans/value propositions Strategic partnerships & alliances White papers/ Technical writing Competitive Intelligence/SWOT analysis Web/collateral content & strategy Sales tools, training, CRM Trade show preparation/execution Press/Analyst briefings/reviews/speeches

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