Trialling New Products? Build a Successful GTM Strategy that Adapts Quickly!
New products can be complex, difficult, and expensive to take from initial idea to development, then out to market. Having a reliable product launch tracking system can mean the difference between learning what works and what does not – or relying on guess work.
Today we are looking at Go-To-Market (GTM) systems, and why you need one that is capable of adapting quickly.
We are going to examine the problems that come with an inflexible GTM strategy, then look at how real-time data can influence feedback, and how fast iteration with sales supports workflows, before finally looking at what the right product launch tracking system can do as it takes you from pilot to scale with automation.
With a rigid GTM strategy, companies are forced into a position of being reactive rather than proactive, and this can lead to a lot of issues, such as:
Product launch tracking systems need to be flexible in order to handle the sometimes-unpredictable nature of new product launches, and to handle real-time opportunities that could either help or harm the brand.
Whether your company is taking a new product to market for the first time, or is releasing something for the thousandth, it cannot be stressed enough how important it is to do your due diligence, understand your audience (and your competitors), and be capable of taking actions as required.
Modern technologies and integrated systems make it far easier to be flexible and fast, without being hasty.
A robust GTM strategy should involve taking customer data, feedback, and the current state of the market in, and adapting accordingly.
Real-time data from early users can provide an absolutely crucial role in determining sentiment, any potential issues which might have slipped through the cracks, and what demographics are responding well to the marketing and sales activities.
Product launch tracking systems that are capable of being supported by feedback collection and loops can use strategic automation and smart technology to identify specific markers and collate the data together in a very short period of time.
The success or failure of new products has a huge impact on consumer perception of brands, trust levels, and whether investors and other supporting actions will be made available – there have even been instances where a new product has seen the rise or fall of a brand in its entirety.
It cannot be stressed enough that you should be making the fullest use of every advantage you have, and real-time data from early users as well as feedback loops can help to manage these tasks and put you on the right foot to start.
Product launch tracking systems that work by adapting and improving based on feedback, results, and data-driven recommendations need to be streamlined, efficient, and ready to make quick moves with open communication, reliable information, and processes in place that will support these activities.
In order to make these requirements a reality, companies look at:
The faster your business can position itself, the more likely it will be that the data you have available will be accurate and useful, so having a system available which supports workflows, and your sales teams means they can get to work on boosting your business as soon as possible.
Ideally, you want to trial your new products, iron out any issues, and then go to market as soon as possible. This means that you need a product launch tracking system which is capable of not only integrating with your standard business processes and customer databases but will also be able to scale alongside your business to ensure further releases can be handled without issue as the company grows.
Automation is a key element to this new trajectory, with the ability to take over certain tasks, ensure specific standards are kept, and will integrate with other tools such as AI to allow for large scale personalised communication without having to spend large amounts of time manually seeing to the tasks.
Even if your company is only small and only just looking at trialling and releasing a small range of products, it is vital that you keep your business future in mind – success in going to market means that you will be in a position to do more and achieve more, and that means you need to have an infrastructure in place that will grow alongside you.
It is far cheaper and easier to work with providers and tools which are designed to support you at every stage, integrate with processes, and allow for future proofing, rather than trying to play catch up as you grow.
You need a product launch tracking system that works with your business needs, supports your goals, and is capable of integrating with your existing structure.
TEB provides you with an all-in-one solution that brings you supreme GTM features such as:
Make it quicker, easier, and more cost effective to get your products to market with TEB, book a demonstration with our experts today and gain the competitive edge that will take your next product release from good to exceptional.
