In the first two posts to this series we have posited two mandatory requirement of launching an enterprise IT software product, and recovering from a failure with a promising new product opportunity. These two mandatory requirements include:
- Insulating core revenue from the product launch
- and implementing teleprospecting — with a conversation recording component — as a key method of collecting data about direct engagement with market prospects
In this post we will discuss utilizing analysis of online interaction with web site visitors (irrespective of whether or not visits are made to web 1.0 or web 2.0, social media, web sites) and experimentation with online brand messaging to add additional, but, nevertheless, essential additional data to the set of information that can be provided to stakeholders from the business (whether a sole entrepeneur, or members of a product launch team) to ensure that a correct set of decisions are made about a product launch.
In fact, for many enterprise IT ISVs, the sole method of engaging with prospects is all online. We have, in past posts to this blog, mentioned companies like Alinean, Inc. and Marketo, which we think have good stories to tell to entrepeneurs. It is now en vogue to contemplate product launches sans sales, altogether. We need to go on record as fundamentally disagreeing with this notion; however, the important point is that these positions have gained credibility (as outrageous as they may be) as the direct result of a very rich set of information that can be mined from online visitor engagement.
The primary vehicles for collecting this information, in our opinion, amount to using analysis tools like Google Analytics (we like this one as it is free to anyone with a web site), and Google Webmasters, in conjunction with online experimentation on brand message (via a modest application of paid online promotion, in the form or Google Adwords) to collect vital metrics about market perception of brand message.
In our experience, the results of implementing this two fold strategy of collecting and analyzing data about online visitor experience provides an entirely rich set of information that should be inescapable for entrepeneurs. In other words, the information collected from these efforts is critically important and must play a big role in formulating decisions about product success, failure, and any/all resulting actions.
In the next post to this series we will look at using all of the data collected about products that fail to conceptualize and bring to market follow on efforts that promise substantial success and, therefore, excellent return on investment.
If you are planning a product launch, then we think you will agree that a method of collecting data about online engagement with market participants (sales prospects, influencers, competitors, etc) is a capability that must be in place to ensure the best results from your campaign. If you lack the expertise to manage and maintain a successful effort in this area, then you should consult with a third party.
IMB Enterprises, Inc. is interested in opportunities in this area. Our monthly service plans start at $5000.00 with a 6 month minimum client commitment term. Please contact us to learn further. You can call Ira Michael Blonder at +1 631-673-2929 to further a discussion about our services plan. You may also email Ira at firstname.lastname@example.org.
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