Recently we sent out the first of a series of informative emails on behalf of a client. Our campaigns are fully instrumented so we know exactly when people open emails and what they click. We watched on the campaign dashboard as prospects read the email, often opening it more than once to study the information and follow the links.
We’ve researched customer requirements for more than 200 startup products and services, in preparation for launching them into the market. These are the most common assumptions that all of those startups made.
Remember, the most common failure mode is getting one of these assumptions slightly wrong...
Month 4: We identified the reason for Qualcomm’s loss of interest: the incumbent competitor had offered an alternative, less powerful solution for free to prevent Acme from establishing a foothold. This was not a fight they could win, so Acme decided to stop wasting time on this “perfect” prospect.
Since we started offering business development services in 1991, we’ve worked with a lot of new products, new companies and new markets. Here’s a summary of the 200+ startup products we’ve worked on.
37% of the products we validated with customers were either fundamentally flawed or completely off base. As often as not, this was not a surprise to our client; sometimes they had retained us just to confirm their suspicions.
At the time Buildsoft approached us, they were the leading supplier of back office software to homebuilders. More than 3000 small and mid-sized homebuilders used Buildsoft to handle their orders, payables, receivables, and other management tasks.
Buildsoft had developed an ambitious plan to exploit this strong position. Together with national retailer Lowe’s Home Improvement, Buildsoft was preparing to launch BuildNet, an online purchasing network. BuildNet would allow builders to place orders online, receive volume discounts and schedule deliveries all from within the Buildsoft environment they were already using.
One of the first questions we hear from startups is, “What CRM should we use?” Nobody wants to start selling without having a system in place to track, cultivate and communicate with customers.
If you are starting from scratch, you are probably considering SalesForce or one of a host of other SaaS products that promise to revolutionize your sales process. But there’s another way to approach the problem.