Uncommon works with your team to ensure your product and its market strategy are ready for launch and provides execution guidance to help gain market traction and achieve your product’s goals.
Effective Strategy is the output of market research
Research conducted on market size, trends, competitors, and customers is done for one reason, and one reason only: to ensure you are building and selling the right product to the right customer with the right message at the right price and through the right channels. It helps define your Product Strategy and Market Strategy.
While research can be fun (yes, it can!), strategy is the culmination of all you have learned about the market, your product and prospective customers. It answers the “so what?”.
Uncommon works with our clients to distill research findings down to a concise and effective Product Strategy and Market Strategy.
Product Strategy includes:
Prioritized list of product features, based on discovered market requirements
Product roadmap of when the features will be launched (based on balancing value to customer and cost to build)
Key product performance metrics to be monitored before and after launch
Market Strategy includes:
Customer personas: are informative fictional descriptions of target users, buyers, and influencers. Personas are intended to provide internal design, development, marketing, sales and customer support teams a deeper understanding of your customers. They include such things as name, age, gender, socio-economic background, career, personal preferences and typical behavior as it relates to the use and need of your product. A good persona helps to personalize your customer and align teams around making and delivering a better product
Value proposition: is a clear and defining statement as to why customers should buy your product or service, over alternatives. The value proposition statement is the common thread that ties together everything you do, forging internal teams and customer understanding
Key benefits: while your product may offer customers many benefits, we will identify the top one or two that target customers actually care about. This will form the basis of future marketing messaging and collateral
Pricing: a sound pricing model can raise a product above the noise or kill it in its tracks. While price will likely change post-launch, initial pricing models are critical for gaining early traction. Pricing should not be a last minute afterthought, but should be considered from business case development to product development to launch. Special attention is given to this area throughout all of our projects
Product trials: associated with a sound pricing model is a strategy that lowers the barriers to customers experiencing your product. Product trials are one such option
Promotion channels: reaching customers with your message is critical. While there are many ways to reach customers, our goal is to identify the most effective promotional channel to reach early adopters. Should you already serve similar customers, this may already be well understood
Distribution and partnerships: through our research we will seek alternative options to selling your product direct to customers, with the goal of achieving customers and sales more quickly. A suitable channel partner can get your product to market faster and with less up front cost
We'd love to meet with you to discuss how we can help you create and refine your product strategy.