Deirdre Breakenridge determines the marketing channels to involve and keep employee champions updated on your new product marketing activities and your launch.
- When you first started your go to market plan, you began with developing goals and strategic objectives. Another big part of your planning process was to find the right Key Performance Indicators or KPIs and metrics to further support and benchmark your success post launch. Although you set out to build the measurement model, you have to be flexible to understand that you're marketing in real time which means you can change course and tweak your programs to accommodate your customers.
You may also be adjusting your measurement based on shifting goals or team and channel performance. Here are some questions you should ask your team when assessing your measurement model. Are your company's business objectives still the same? Because organizations need to shift resources and focus on different parts of the business, this may affect your specific area and the products you launch. You always want to make sure that your measurement and metrics are aligned to the overall company goals and strategies.
How well did your metrics tell a story? Were they accurate? And do they capture what you needed to show success to your executive team? At times, you may discover your metrics are difficult to capture or you're not setup with the right resources. It's important to evaluate metrics to make sure they clearly demonstrate your success. What has your qualitative information told you? You may realize post launch your customer feedback loop is a valuable resource that will help you to plan ahead.
Let the soft data assist you in making important changes to how you measure customer satisfaction. What tools would be more effective to measure your new product launch? You should always be evaluating your tools to see if there are any additional resources or better and more cost effective options. Your resources are at the heart of your program from the people to the technology platforms and the channels they use. Technology will continue to advance so it's your job to continually research and test drive newer options.
Did your channels perform as well as you predicted? Measuring your channel performance helps you evaluate your partners, communicate with your customers, and tells you where to make changes. Remember, any channels that are underperforming have to be addressed sooner rather than later. How did your team perform? From your brand, product, and marketing teams to your salespeople. Performance can be evaluated through customer engagement, leads and sales conversion, and customer satisfaction.
By evaluating early and making any necessary changes, you'll be strengthening future go to market planning and getting set up for better team performance. Be sure to listen closely to your team members regarding what would have worked better and how they think you can measure internal team performance more accurately. You already know that your go to market planning is critical to the success of your new product launch. However, your flexibility is what really helps to prove success and improve your future launches.
- Building your go-to-market (GTM) plan foundation
- Assessing whether you need a marketing or GTM plan
- Entering new markets with a competitive advantage
- Developing your product vision and message
- Setting your product price at launch
- Setting up your channel strategy
- Driving better channel performance
- Evaluating KPIs and metrics
- Storytelling and the customer journey