Some simple start-up marketing tips for software product cos

1. Some simple start-up marketing tips for software product cosProduct Marketing Strategy Defining your market presence Apr 2011

2. Broad steps Understand current GTM Competitive research Define product STP Identify product roadmap and what it needs to take care of Packaging defn Offering defn Commercial & Engagement models Promotions plan Finalize Revenue & Marketing budgets Sales review plans & objection handling 2

3. Understand current GTM Get feedback from Beta users Categorize feedback into generic feedback and industry specific feedback Identify what needs to go into product roadmap and what can go into specific industry variants Keep it as generic as possible Solutions can always be customized for specific customers 3

4. Competitive research Identify ‘like’ competitors and ‘direct’ competitors Understand model used by them Document your findings in an understanding document Find out if you are missing something from your existing plans 4

5. Define product STP Finalize the ‘segment’ , ‘target market’ and the ‘positioning’ that you would like to use for the product This will be based on competitor research, feedback from your beta users and research on your defined target market (both primary and secondary research) Identify ‘like’ competitors and ‘direct’ competitors Understand model used by them Document your findings in an understanding document Find out if you are missing something from your existing plans 5

6. Packaging, Offering and commercial/engagement models Define product packaging based on delivery mode If the delivery is web based, then there is not much packaging definition needed Offering defn Define product collateral decks that will be needed to engage with your potential customer base. These could include brochure, technical data sheets, FAQ, case studies, customer citations etc. Commercial/Engagement models Define how the product is going to be sold Mechanism for the sale to happen – is it through distributors/direct/web Based on the sale, how will the product be delivered. Troubleshoot and make sure that the steps defined can be adhered to in operations mode 6

7. Promotions plan Marketing mix Depending on the target market defined, identify how you can reach out to your prospect base Identify how you will engage with the prospect base and try to convert the prospect to a customer Define elements of your marketing mix and their frequency in line with your defined marketing budgets 7

8. Budgets, Sales reviews & objection handling Budgets Define revenue budgets by month/region Define cost budgets based on marketing mix allocated. Marketing budgets will get adjusted based on actual achievement of targets Sales reviews Define review mechanisms based on targets identified Objection handling Build a dynamic objection handling FAQ and keep on updating it based on engagement with prospects 8

9. 9 End of presentation Thank you www.xenia-consulting.com/services http://blog.xenia-consulting.com