In a world where markets evolve rapidly and consumer preferences shift with increasing unpredictability, the traditional go-to-market (GTM) strategies often fall short. Why do so many businesses cling to outdated methodologies that ignore the very core of success—understanding and addressing customer needs? Let’s delve into the crucial challenges of traditional market launches and argue for a radically different approach—one that is not only more successful but also cost effective.
Understanding the Customer: The Bedrock of Successful Product Launches
Throughout my career, having led or been part of over 50+ product launches, the most successful ones had a common denominator: they were deeply rooted in a profound understanding of the customer. The question then beckons, why aren’t all companies making this a priority?
The initial phase of identifying the customer’s problem seems straightforward but is often bypassed with alarming regularity. Developing customer personas and gaining an intimate understanding of their needs isn’t just a checkbox on a project plan—it’s the foundation of your entire product strategy.
Below are 5 critical ‘must-do’s’ for any product manager or marketing leader when brining products to market:
Integrating Customer Insights Throughout the GTM Process
A robust GTM strategy isn’t just about identifying customer needs at the start; it’s about continuously integrating customer feedback at every stage. From insight exploration to user experience design and marketing channel identification, each phase should be reinforced by customer insights. This ensures that the product remains aligned with market demands and customer expectations.
However, traditional models often isolate customer feedback to the initial phases, if at all. How many times have we seen products pushed to market based on initial assumptions only to fail because those assumptions were never validated? A continuous feedback loop is not just beneficial; it’s essential.
Milestones and Gates: More Than Just a Formality
Setting up milestones and gates in the GTM process is crucial. Unlike R&D’s technical gating, the GTM gates should focus intensely on customer and end-user feedback. Senior marketing and executive leadership should not just passively review at these gates but actively engage with the feedback to make informed decisions.
Let’s be clear: it’s perfectly acceptable to kill a product at any gate if it doesn’t meet the expectations based on customer feedback. This is challenging, especially after substantial financial and emotional investment. However, the cost of proceeding without alignment to customer needs can be much higher, both financially and in terms of brand damage. Isn’t it better to fail fast and learn, rather than launch blindly and flounder?
Be wary of the “Launch Now, Listen Later” Paradox
The urge to launch a product quickly to beat competitors is a strong one. However, this “Launch Now, Listen Later” approach is fundamentally flawed. It assumes that speed to market is more important than market readiness or customer alignment. This paradox can lead to initial sales spikes under the guise of success, but what follows might be a slew of costly revisions, poor customer adoption, and a tarnished brand reputation. As Peter Drucker famously said, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Can you truly say your product will sell itself if you haven’t listened to what the market wants?
Rethinking Economic Value in B2B
For B2B products, developing a strong, customer-validated economic value to the customer is crucial. This aspect is often glossed over, yet it’s what differentiates a compelling product from a mediocre one. It’s not just about the cost; it’s about the value—be it time saved, revenue generated, costs reduced, or customer satisfaction enhanced. Each benefit should be clearly quantified and tested against target personas.
Avoiding Toddler Product Launches
Finally, large organizations have the resources to launch almost anything—but should they? Without a strategy rooted in real customer needs and validated by real data, you risk what I call “toddler launches”: products that take a few tentative steps but never really learn to run. A thoughtful strategy with clear, customer-focused milestones is essential for scaling and success.
Why, then, do we continue to see companies falling into the same traps? Is it because old habits die hard, or is there a deeper resistance to change? Either way, it’s time for a shift—a shift towards a more customer-centric, human insight approach to GTM strategies.
It’s not just about doing business; it’s about doing business right. And doing it right means putting the customer at the heart of everything. Isn’t it time we stopped launching for the sake of launching and started launching to truly meet and exceed customer expectations? Let’s challenge the status quo, rethink our strategies, and start building products that aren’t just launched, but are loved.
Paul Smith, Vice President
Paul Smith is a Vice President at Hemispheres Insights. Paul is a seasoned expert in uncovering customer insights and unmet needs, specializing in driving innovations, shaping value propositions, and developing effective Go-To-Market strategies. With experience in launching over 50 global products and managing customer research in over 30 countries, Paul has a robust international perspective.