Jul 2009
So you have a Beta client, now what?
21/07/09 12:24 Filed in: Product Management
Having a client agree to give your new technology some real-world testing is extremely valuable to any company. It does not matter if this is the first Beta for a start-up company or if it is a new technology that is being added to an already established companies technology portfolio. Having this client simply test the product and offer suggestions or to tell you if something is not working within their specific environment provides a bit of value, but will not really help to get your solution adopted by many customers. The following are just a few ways to ensure that you do not miss out on this opportunity to not only gain a customer but also to get information that can be used to gain even more customers:
1. Use Beta testing to demonstrate a true ROI. The old saying “If it is important, measure it”, holds true with your clients. Hopefully before you got to this point you were able to understand what is important to your client and have taken the time to document how it is measured, who is measuring it, and what the current measurement was. If you have done this, then ask to have this as something that the client tests during the Beta testing. Measure the gain that they have received through your solution and then calculate what this means to the client in their terms.
2. Get everyone involved. When you go to sell something to a client, they are often less comfortable in giving you names and contact information for people who may use or make a decision on your product or service. However, if your solution has an impact on these people, then build into the Beta plan to make sure that they are involved in the process.
3. Set clear objectives and exit criteria. Much like in #1, there is no reason why you cannot ask for certain features or functionality to be tested by the client during the Beta testing. Second, define when the Beta testing will be completed. Some of these initiatives can turn into the never ending testing project if you are not careful, but by setting the proper objectives and exit criteria you can better control the aspects being tested and that clients get enough of an opportunity to test these areas.
4. Think Bigger. When completing the Beta testing engagement, as the client what they feel is the greatest value that is being provided by your solution. Ask them what they feel is biggest benefit of your new technology which would be important to them, their competitors, and the market as a whole. Use this information in your sales and marketing campaigns moving forward.
5. Ask for referrals. You should never miss an opportunity for a referral. Even if your solution does not meet this particular clients needs, they may know another company or person that could benefit from what you have to offer.
So, the next time you are getting ready to do Beta testing of your technology, take the time to understand and use this activity strategically. Also, it is not an activity that is reserved just for product management, so be sure to involve your sales, marketing, support, and operations team to make sure the whole company is focused on ensuring the successful outcome of this valuable opportunity.
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Are you truly listening?
Are you truly listening?
There was a post on the Forbes.com - Entrepreneurs section titled Learning the Art of Listening. It was written by Dr. Steven Berglas, and it covers the topic of knowing how to truly listen. Where this comes into play is that our business is about not only uncovering the truth of your product or service from your customers and target markets perspective, it is about knowing how to truly listen to them to uncover the opportunities that exist. Until you know how to actively listen, you may be missing out on some great opportunities to grow your business.
There was a post on the Forbes.com - Entrepreneurs section titled Learning the Art of Listening. It was written by Dr. Steven Berglas, and it covers the topic of knowing how to truly listen. Where this comes into play is that our business is about not only uncovering the truth of your product or service from your customers and target markets perspective, it is about knowing how to truly listen to them to uncover the opportunities that exist. Until you know how to actively listen, you may be missing out on some great opportunities to grow your business.
Just get engaged!
The one thing that we all have to understand is that from the clients perspective, business does not stop. They have some of the same challenges that you do, and have to find ways to not only save some money but ideally find ways to make even more money (sales). So, if you look at it from this perspective, then both you and your clients share the same goals. Take this opportunity of having common challenges and goals to create revenue generating opportunities for you both. The following are just some ideas to help get the creative juices flowing on ways that you may be able to get engaged with clients today in order to ensure you are building a good revenue stream for tomorrow...
1. Can your product or service help your client to sell theirs? We have been talking with one client who is offering a solution that brings together teams of people and provides a common set of communication tools for these teams to communicate. Anyway, one of the biggest challenges that they have is that their customers are cautious about spending money on this solution as they do no know if their users will use the new system. Well, one of the biggest issues that causes people to not use a system is that it does not truly meet their needs. So, we have been working with our client to put together a plan where we engage with the end users to truly understand their needs and do an assessment on their requirements for this system. By doing this the users have some input into what they need and as a result of some customization services will get what they need from the system. The users win in this situation, the company purchasing the system wins as they have more captive audience that they can market and easily communicate with. Our client wins as they now can sell their system and also make some additional services revenues. And finally, we win as we are doing the services engagement to help gather and qualify the users needs. You see...in this situation everyone wins by all of us understanding each other challenges and working together to form a solution. Can you find a way to do this with some of your current prospects?
2. If you believe you can do it....can you make a little less today in order to make more tomorrow? For another one of our clients, they have a solution that has a very small footprint within one of their strategic accounts. We have helped them to understand the players within this account and the true stakeholders. As part of the group of stakeholders, there is a very large Systems Integrator. We have approached this Systems Integrator and are now discussing a specific project where we can work together to take an initiative to the organization for approval. Without getting into all the details the point here is that in this example the model is that we work together to build the system based upon taking some of the profits or residuals that the company makes from it. In this situation, the company wins as they get a new system to help generate revenue without a massive outlay of money. The Systems Integrator wins by getting the opportunity to take new a fresh ideas to the client and they get a big portion of the services work that come from this project. Our client wins as they too get services revenues and also their technology is now being used widely throughout the company to help them make money. So, again can you find ways to make a little less money today (NOT FREE), but make even more in the future?
3. Is your price point a barrier to entry? If your focus is on trying to get new customers, and just on trying to sell more to your current customers, then you have most likely run into this challenge. Think about it, in today’s world you too have to be concerned about mitigating risk and want to know that you will see a return from every dollar that you spend. If you feel this way, then chances are your customers are feeling the same way. So, if you were approached by a company who may have a great product or service but to get started required a significant investment, and you were approached by another company with a great product or service which could provide the same benefits, but they had a package that would allow you to get started for less than half of the price of the first company....which one would you choose? My guess is that you would go with the second company as it is a bit less risk for you. Now dont’ get me wrong I am not suggesting that you lower your price, but rather I am suggesting you find ways to package your product or service in order to lower the cost of entry for your clients. A perfect example is can you find ways to provide your product on a subscription basis? If your solution is software, can you find ways to offer it as a hosted Software as a Service solution? Can you put together a packaged service focused on providing an assessment rather than a full engagement? There are many creative ways that you can actually make more money over the long run by packaging it a bit different today....
These are just 3 in depth examples of ways that you have to be in touch and communicating with your clients today. There are many more like this. The bottom line is that if you are not engaged with clients and are “waiting for it to get better” then you do not have the opportunity to truly understand their needs, and ultimately you will not have an opportunity to find creative ways to work together in order to find a win-win solution for you both to make money. So, pick up the phone and find ways to get engaged with your clients today!