Product Momentum Podcast 148 / 3 Remedies that Boost Product Launch Success, with James Whitman
The success rate of new software products varies, depending on the criteria we used to define success. But a common statistic is unflattering: about 70% of new software releases fails to meet their initial expectations or goals. In this episode of Product Momentum – and in his new book, LAUNCH Code – James Whitman explains this phenomenon, describes the factors that contribute to such high failure rates, and presents research-based remedies we can deploy to reverse the trend.
Too often in product development, we become so focused on heads-down requirements building that the act of launching the product feels like an afterthought. And to many, it’s become a lost art. James says that success requires a companywide, comprehensive plan for managing internal handoffs and bringing clients deeply into product development and launch.
The development-to-sale process offers “many rakes to step on,” James says. And even the most well-intended teams make mistakes, often manifested in these critical areas:
Client Listening. We tend to sample only our most favored clients; we limit discovery efforts to a specific segment of our market; and too often we wrongly assume that internal team members possess the domain knowledge to speak on behalf of the client.
James underscores the critical role of continuous client listening and says that that every sales interaction is an opportunity for market research. “Maintaining a dialogue with clients both before and after the market launch is crucial for refining the product and addressing client needs effectively.”
The Product-to-Sales Handoff. Software launches start with innovation and product design, followed by value-added activities within the product function, James says. But then there’s this completely separate activity that happens over here in Sales. The gap between those functions is where many products fail to launch.
The best organizations integrate these activities into a holistic approach where sales and product teams work closely together rather than operating in silos.
The Sales Cabinet. There’s a solid collective understanding that we should listen to our clients and that we should work collaboratively with our colleagues. But why don’t these things happen in the real world?
James introduces the concept of a “sales cabinet,” a group of trusted senior sales representatives who provide early feedback on product ideas and help profile new offerings.
Be sure to catch the entire episode with James Whitman to deepen your understanding of the LAUNCH process: Listen, Assess, Unify, Navigate, Control, and Hone.
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