Monday, September 14, 2009

Challenges in B2B product launch...

You think launching a new product or innovation in B2B space is easier? ready with a detailed industry gap analysis, found an opportunity & come up with a solution to fix the gap? It also sounds easier compare to B2C products, because there are less number of people to pitch your product, take to market, go live!

YET - B2B products are as harder to launch & be successful, I have tried to list a few... based on a recent research that we have done in B2B space:
  • Current Process - are you changing the existing process, that business are using currently? for them to adopt your product - if yes, think again... might have an uphill task in convincing the potential customers
  • Savings - is your pitch mainly on cost savings to the business? be sure that you have done a complete research & understand is the cost line item you are replacing is on the top 10 of the cost line items for the business
  • Payment Cycle - assume you will be a paid product for the businesses, you should be aware of the payment cycle of the businesses in the industry - helps to know what is the money needed for WIP & be ready for such a cash flow
  • Literacy of People - are the target users in business literate with the tools or technologies you are using or proposing? if no - then you might waste & break your head with people not willing to learn or use the tool
  • Industry - last, but an important one... is the industry you are targeting shown a sign of adoption or willingness to look at new products, open for change, backed with legal (formal or informal) compliance to ethical practices
I still think B2B market has better chances of succeeding on innovation, profitability & target revenue realization... rather than living in virtual money or valuations of B2C market (at least for the tech companies)

-Bhaskara

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