How a Product Strategy Can Ignited Revenue Growth

Welcome to the SBI Sales and Marketing podcast. We're joined by Marc Osofsky, the Senior Vice President and General Manager at Lionbridge Technologies, to discuss how to accelerate revenue growth by entering new markets with new products using a thorough product strategy.

In our first segment, Marc tells us how he located his hidden growth opportunity by using various forms of detailed market research. Leveraging this research is how Mark and his CEO worked together to build a business product strategy that aligned with the overall corporate strategy.

Next, Mark walks us step-by-step through the various stages of his product strategy process including determining objectives, developing a brand promise for a new set of customers, sizing up the competition and building a differentiated set of capabilities that allowed Lionbridge to win in the new product market. Mark then discusses how he and his team built their product roadmap and goes into detail about the various things encountered like developing and integrating the product, marketing, sales and HR strategies into the broader strategy for this new market.

In our last segment, Mark sends us off with three tactics on product strategy you could put into effect in year one, year two, and year three in order to help continue making your number.