Experienced Based Enterprise IT Software Product Development — Carefully Collect and Analyze all Sales Prospect Engagement Data

In the first post to this series on using failed products as the foundation of promising product development opportunities for enterprise IT markets, we provided two examples of how to insulate vital revenue sources from a launch of an unproven software product, that might prove to be unsuccessful. In this post we will briefly discuss the importance of collecting market sentiment from opportunities to engage with prospects and a recommended method of accomplishing this requirement, namely teleprospecting.

Simply launching a software product targeted to enterprise IT markets ought to drive an entrepreneur, or a group of partners in a venture, to conceptualize a method of collecting data from opportunities to engage with market participants. Any/all data should be carefully studied, especially for the potential value of the data as an indicator of product features that may be in high demand by the market, but somehow missing from a present offering. Proceeding on a product launch, even where core revenue sources have been correctly insulated, makes little if any sense where a means of collecting this data is otherwise missing.

We think that teleprospecting constitutes an optimum method of collecting this information. In this scenario, telephone representatives are required to document their calls with sales prospects. Recording all opportunities to engage with prospects provides the best method that we know of to collect this vital information. In 2012 it is common place to inform any incoming caller that a conversation that may subsequently take place, will be recorded for “training purposes.” In fact, there is nothing disingenuous about this type of greeting, given our objective of collecting important data in the form of marketplace sentiment. But proceeding without this method, in our opinion, is clearly a mistake, not to mention a potentially costly oversight.

We have seldom, if ever, found note taking to provide the very rich set of data that recorded conversations do provide. It makes sense to also keep in mind the fact that these recordings can be circulated among the core management team for a product launch (for example, marketing, sales, overall business management, and engineering) to ensure that the same information is assimilated by each party to the creation of the product, itself. Using recordings for this type of collaborative purpose ensures that the business truly analyzes the results from all possible angles, and, thereby, receives as objective an opinion about the results, as possible.

In 2012 there is very often an online promotional component to this type of product launch. While teleprospecting is a preferred method of collecting data from engagements, using tools like Google Analytics and/or Google Adwords can provide additional, important information about product performance in the market.

If your planned product launch would benefit from a teleprospecting effort, but you lack the internal resources to deliver the results that you require, you should engage with a knowledgeable third party that can provide you with this type of effort.

IMB Enterprises, Inc. maintains current activity on these types of requirements. Our monthly service plans for teleprospecting start at $5000.00, with a 3 month commitment term. We are happy to discuss the specifics of our engagement history with interested parties. 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 imblonder@imbenterprises.com.

© IMB Enterprises, Inc. & Ira Michael Blonder, 2012 All Rights Reserved

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