tools and tactics of the growth team: successful go-to-market strategies for new product launch

47
Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch Chairman’s Series on Growth

Upload: frost-sullivan

Post on 08-May-2015

6.689 views

Category:

Business


1 download

DESCRIPTION

A presentation from the Frost & Sullivan chairman's series on growth, covering successful strategies on new product launch in today's economic climate.

TRANSCRIPT

Page 1: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Tools and Tactics of the Growth Team:Successful Go-to-Market Strategies for New Product Launch

Chairman’s Series on Growth

Page 2: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

2

Today’s Presenters

Naylor Gray, Director - Global MarketingFrost & Sullivan

Todd Grossman, Vice President – Sales and Client ServicesMultiVu, a PR Newswire Company

Katherine Burns, Growth Thought LeaderFrost & Sullivan

David Frigstad, ChairmanFrost & Sullivan

Page 3: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

3

Agenda

• Economic Update : August 2009• The Growth Acceleration System – New Product Launch• Growth through New Product Development and Innovation• Case Studies in Successful New Product Launch• Serious About Growth: Next Steps

Page 4: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

4

Global Economic Outlook  August 2009

Page 5: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

5

• Key to recovery - Credit situation, Confidence (Business and Consumer) and Internal and External Demand -leading confidence indicators show signs of recovery

• Full Impact of stimulus plans is expected to be spread out starting from second half of 2009. 250 billion is expected to be spent in 2009 and remaining part of stimulus in the next two years

• Sector specific support/bail out plans - Restructuring of Automotive Industry focuses on green business and infrastructure development

• Revival in stock markets and commodity prices - Dow Industrial Average Increased by 23 percent since February and oil prices in the range of $60-$72

• Financial market conditions are improving, but credit remains tight. • Improving corporate performance and earnings - Better than expected Q2 results for Goldman Sachs, JP

Morgan Chase, Apple• Unprecedented focus worldwide on addressing the economic situation - Global stimulus spending

estimated to be worth more than US $ 2 trillion - in developed economies it appears more time is required for the stimulus to take effect as they are spread out over 2 or 3 years

• Slow down in major trading partners Canada, China, Mexico, Japan and Germany affecting US exports growth. Chinese and Canadian demand is likely to support growth in exports in the second half of 2009. Export demand from emerging nations will be a factor in reviving the global economy

• Converging expert consensus on recovery path - Number of forecasters predict slow recovery and low growth in the second half of 2009.

North America - Recent Developments

Page 6: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

6

Green Shoots

New Housing Starts

Building Permits

Retail Sales

Corporate Profits

Dow Jones Industrial Average

New Orders

Unemployment Insurance Claims

Composite Leading Indicator

Business Confidence Index

• Many leading indicators point toward stabilizing market conditions

North America - Recent Developments

Downside Risk Factors

• Credit Situation – Some improvement in financial markets but credit situation remains tight

• Budget Deficit and Public Debt– Long term issue –kick start the economy and reduce the deficit

• Increasing unemployment and underemployment such as part time work

• Impact of decline in household wealth due to the collapse of stock market in 2008 and fall in home prices

• Key to sustainable of economic recovery depend on improving the credit situation and confidence among investors. Major source of uncertainty comes from lack of clarity on financing the deficit and other large government programs such as healthcare reforms.

United States : Green shoots – are they sustainable ? United States : Downside Risk Factors

Page 7: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

7

North America

North American Economic Outlook : Due to high interdependence among the three countries on account of closer economic

and trade relations, recovery in the region largely depend on the performance of the US economy which accounts for the bulk

of regional GDP. Despite the initiatives taken by the Obama administration, credit situation is tight and confidence remains

low due to high unemployment levels. However a number of indicators shows signs of stabilization which is likely to result

in recovery starting second half of 2009.

Canada : The impact of the crisis is high due to high level of interdependency and consequently affected economic growth in Q1. Aided by the timely stimulus measures Canadian economy is expected to return to its growth path in the second half .

United States: Improving business sentiments, consumer confidence, easing credit situation, Stimulus plans and other government initiatives are likely to contribute to the recovery.Expected to bottom out in 2009 and recovery to begin in the second half of 2009.

Mexico : Higher dependence on US economy is adversely affected the Mexican economy since the crisis began. Expatriation of earnings and fall in remittances has contributedto capital flight, and depreciation of peso. Recovery depends onexport growth and improvement in oil prices.

Page 8: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

8

European Growth Trends - 2008 - 2009 Europe Growth Trends Europe Growth Trends

Growth Trends

• Germany, France, Italy, Spain and United Kingdom accounted for 72 percent of European Union GDP in 2008. • GDP declined sharply in these countries due to the financial crisis. • Germany and France are likely to lead European recovery as there are signs of improvement in industrial output and

consumer confidence

Policy Initiatives

• European Union EU wide stimulus package 200 billion euros – nearly 1.5 percent of EU GDP • Country specific measures includes tax cuts, financial support to the unemployed, increased spending on infrastructure

development and social sectors and industry specific support

-5.0-4.0-3.0-2.0-1.00.01.02.03.04.05.0

Austria Belgium France Germany Italy Netherlands Spain UnitedKingdom

Euro area

GD

P G

row

th (%

)

Q1-2008 Q2-2008 Q3-2008 Q4-2008 Q1-2009

Note : Quarterly growth rates - same quarter previous year

Page 9: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

9

The Big Four Asian Giants - Economic Growth Trends

Japan : Japanese economy depends on exports; the global slow down has contributed to a sharp decline in 2009 Q1. Public debt is estimated at 200 % of GDP, which is one of the highest in the world. Stimulus package of over $104 billion.

China : Stimulus $586 billion (204 new money) with focus on infrastructure and induce domestic demand. Recovery signs include growth in domestic demand including increase investment. China accounts for 6.5 percent of global GDP, and is expected to have one of the highest economic growth in 2009.

India : More stable political conditions and domestic demand have contributed to the increased investor confidence in recent months. Though exports are declining, the manufacturing sector is stabilizing with six core industries and had positive growth partly aided by the stimulus measures ($6.5 billion in new money). GDP is expected to grow by 7.0 percent in 2009.

Korea : Export driven economy, sharp decline in GDP, With stimulus package of $ 45 billion ($26 billion in new money), economic growth in 2009 Q2 is 2.3 percent driven by manufacturing (Electrical and electronic equipment, and petroleum, coal and chemicals manufacturing). Increased durable demand has contributed growth in consumption expenditure.

-10.0

-5.0

0.0

5.0

10.0

15.0

Japan India China Korea

Gro

wth

Rat

e (%

)

Q1-2008 Q2-2008 Q3-2008 Q4-2008 Q1-2009

Note : Quarterly growth rates - same quarter previous year

Page 10: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

10

Latin America - Economic Growth Trends

Brazil : Stimulus package is estimated to be $ 8.6 billion. Equity market shows signs of recovery, pressure on currency is also easing. Import growth expected to fall

Chile : Stimulus package-$ 4 billion announced In January. In addition other initiatives such as support to small enterprises and stabilize the financial sector and ease credit situation. Combination of stimulus plan and rise in copper prices driven by Chinese demand will support the economic recovery.

Argentina : $ 4.4 billion in new stimulus which includes public works program to improve infrastructure covering energy, transportation and housing sectors.

Colombia : Bank rates were reduced from 10 percent to 5 percent since December 2008. Fiscal policy initiatives include tax cuts and increased infrastructure spending. Economic recovery is expected to gain momentum in the second half of 2009

Venezuela : Oil price had adverse impact on exports and government finance. Most invest plans are likely to be postponed till the global recovery gains momentum.

Peru : Stimulus package is estimated at $ 3 billion funded by fiscal surplus. Focus of the plan is on social spending, infrastructure and reduction in fuel prices. Peru’s Economy expanded by 0.9 percent in the first half of 2009.

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

Brazil Argentina Venezuela Chile

Gro

wth

Rat

e (%

)

Q1-2008 Q2-2008 Q3-2008 Q4-2008 Q1-2009

Note : Quarterly growth rates - same quarter previous year

Page 11: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

11

• IMF support for least developing countries worth 17 billion to help the revival

• Chinese demand for resources helping countries to promote growth(Australia and ASEAN)

• US recovery critical for Europe and Japan because of high level of economic and trade interdependence

• World balance of economic power – shift towards East from the West with emerging countries likely to lead growth through increased consumption, rather driven by exports

• Worst is behind us, more positive future outlook, some areas of uncertainties remains which are likely to subside in the near future

• Time for fine tuning strategies, adjust plans, prepare for the future

World Economy - Recent Developments

Page 12: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

David FrigstadChairman

Frost & Sullivan

Page 13: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

13

The Growth Acceleration System

(FGP)

Page 14: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

14

The Growth Model

Generation of Opportunities & Strategies

Evaluation of Opportunities & Strategies

Implementation of Strategies Growth Pipeline Developm

ent

10 Growth Processes

Page 15: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

15

Top Successes Regarding Growth

23%

15%18%

13% 13%

4%

10%

2%

17%

22%

14% 15%13%

9%6%

3%

15% 16% 15%

19%

11%9%

4%7%

0%

10%

20%

30%

CompetitiveStrategy

StrategicPartnering

ProductLaunch

GeographicExpansion

TechnolgyStrategies

DistributionChannel

Optimization

Mergers &Acquisitions

GrowthSourcing

#1 Success #2 Success #3 Success

What are the top three strategies that you have had the most growth in the past three years?

Total SampleSelecting 54% 54% 47% 47% 37% 22% 20% 13%

Sources of Growth

Page 16: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

16

Strategies for Future Growth

Strategies Planned for Future Growth

25%

15%13%

10% 11%

7%

13%

4%

18%

23%

13%11% 12%

7% 7% 8%

16% 16% 16%

12%9%

13%

6%9%

0%

10%

20%

30%

Launching newproducts/services

Strategicpartnerships

Entering newgeographies

Competitivestrategies

Customerstrategies

Technologystrategies

Mergers &acquisitions

Distributionchannel

optimization

#1 Success #2 Success #3 Success

Which of these strategies are you using for future growth?

Total SampleSelecting 59% 54% 42% 33% 31% 27% 25% 21%

Page 17: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Katherine Burns

Director, Growth Thought Leadership Frost & Sullivan

Page 18: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

18

Katherine Burns

Director, Growth Thought Leadership Frost & Sullivan

Page 19: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

19

Growth Process ToolkitAccelerating Growth through Rigorous Planning, Principled Execution, and Continuous Monitoring

What Are the Growth Process Toolkits?

The Growth Process Toolkits document Frost & Sullivan’s best thinking and work on each of the 10 growth processes in a step-by-step implementation format.

How Will They Help You?

They save you time and money by focusing you on the right questions to ask and the right activities to back them up, right from the start.

Page 20: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

20

Before the Launch:Growth through New Product Development and Innovation

- Investment in new product development is a strong predictor of a company’s future value.

- Most executives cite innovation as a top corporate priority.

- 47% of participants in Frost & Sullivan’s 2008 survey of CEOs cited growth through new products as their companies’ primary source of growth.

Page 21: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

21

Two Sides of the Same Coin:Innovation and New Product Development

The idea means nothing if the company isn’t agile (or disciplined) enough to get it into the hands of customers

A process for fairly vetting ideas’potential discourages organizational biases

Innovation is the foundation for growth through NPD: a new product starts with a breakthrough idea

An “innovation culture” is key for any organization seeking long-term growth through NPD

New Product DevelopmentInnovation

Page 22: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

22

Where the Rubber Meets the Road:New Product Launch

-It is unusual for a new product on its own – regardless of how innovative or breakthrough it may be – to deliver revenue for the company if the launch fails to:

- Communicate the product’s promise

- Convert buzz into revenue

-A product’s launch is therefore the most sensitive step in achieving growth through innovation and new product development.

Page 23: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

23

The Risks of New Product Launch

-On average, 40 to 90% of all new products fail.

-47% of companies that pioneer new product categories later pull out of those businesses.

Page 24: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

24

Where New Product Launch Goes Wrong

-Customers are averse to change

-Companies expect too much too soon

- Companies go to market before they’re ready

Page 25: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

25

Case-in-Point:

Page 26: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

26

Where New Product Launch Goes Wrong

-Customers are averse to change

-Companies expect too much too soon

- Companies go to market before they’re ready

Page 27: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

27

Case-in-Point:

Page 28: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

28

What Do Smart Companies Do?

Smart companies:

-Replicate a precisely executed launch each time they introduce anew product.

-Follow a specific process for positioning products, training the sales force, working with channel partners, and communicating with customers.

-Brace for slow adoption.

Page 29: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

29

Case-in-Point:

Page 30: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

30

Frost & Sullivan’s Approach to New Product Launch

Page 31: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

31

A Closer Look at the Growth Process Toolkit for NPLTable of Contents and Page Layout

Page 32: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

32

Tool Excerpt #1:Product Placement Worksheet

Page 33: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

33

Tool Excerpt #2: Sales Support Readiness Checklist

Page 34: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

34

Tool Excerpt #3: Sales and Marketing Performance Dashboard

Page 35: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Todd GrossmanVice President, Sales & Client Services

MultiVu, a PR Newswire Company

Page 36: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Agenda

- Supporting product launch through unconventional channels

- The reach and influence of multimedia

- Case profiles of two industry leaders

- How to build a solid multimedia platform

Page 37: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

To communicate effectively in today's market, companies must be comfortable communicating through

unconventional channels

Pushing the Limits of Your Comfort Zone

Page 38: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Adding multimedia to your release increases engagement by 55%.

According to a sample of PR Newswire’s clients’ Visibility Reports comparing text-only press releases to their Flex Releases.

Page 39: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Proof is in the Pudding

Page 40: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Current Online Media/Advertising Environment

U.S. online ad spending will hit $24.5 billion this yearVideo ads account for nearly $1 billion, but are expected to grow at about 40% each year

“The web is designed for two-way communication and two-way communication is about engagement…we believe it is a basket of interactivity with everything from commenting, sharing, posting,responding…all of these are forms of engagement.”- John McCarus, VP Brand Content, Digitas

Source: eMarketer, June 2009

Page 41: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Multimedia News Release (MNR)

Page 42: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Metrics and Reporting

Comprehensive Activity Report

Daily Page Hits

Time Spent on Page

Exit Links

Referring Domains

Visits by Location

File Downloads

Social Media Sources and Audience

Web Clip Sources and Audience

Blog Sources and Audience

Media Outlets (by date)

Media Outlets (by industry)

Page 43: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Case Study #1: Guitar Hero

Guitar Hero Stats

• Over 2,200 page hits

• More than 600 file downloads

• Dozens of clicks to e-commerce sites for direct sales

Page 44: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Case Study #2: LG

LG Rumor Stats

• Over 2,500 page hits

• Close to 3,000 video streams on over 60 viral video sites

• 500 file downloads

• Almost 1,000 embedded video views

Page 45: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

Multimedia Platform

Proprietary Online Content Distribution Proprietary Online Content Distribution

SEOSEO Online VideoDist

Online VideoDist

SocialMediaSocialMedia

Targeted Blogs

Targeted Blogs

WebPlacement

WebPlacement

Targeted ConsumersTargeted Consumers

EngagementEngagement ReferralsReferrals Transactions

Transactions

Page 46: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

46

GIL 2009: North America

GIL 2009: North AmericaGIL 2009: North AmericaSeptember 13-16, 2009www.gil-global.com/northamerica

• Provides 360 Degree Perspective supporting critical decision-making that helps executives achieve their corporate growth objectives

• Examines proven tools and strategies that deliver sustainable growth in a highly interactive forum

• Allows senior executives to network with industry luminaries, innovators, visionaries, and leaders

• Enables executive to better prepare for current challenges and future trends

$1000 CSG participant savings $1000 CSG participant savings now thru August 15, 2009now thru August 15, 2009

For more informationFor more informationEmail Brian Denker –[email protected]

Growth, Innovation and LeadershipA Frost & Sullivan Global Congress on Corporate Growth

Page 47: Tools and Tactics of the Growth Team: Successful Go-to-Market Strategies for New Product Launch

47

Next Steps

Join us at a Growth, Innovation and Leadership 2009: A Frost & Sullivan Global Congress on Corporate Growth (www.gil-global.com)September 2009!Request additional information related to the Growth Team Membership Growth Process Toolkits and Innovation Survey (email us: [email protected]) Request a proposal for Growth Partnership Services to support you and your team to accelerate the growth of your company. Attend Frost & Sullivan best practice networking events(http://www.frost.com/cal)Consider Conducting a 360 Degree Growth Workshop to support your long-term growth strategy Register for the next Chairman’s Series on Growth: (http://www.frost.com/growth)Schedule a One-on-One Preliminary Growth Diagnostic Blueprint workshop with a Frost & Sullivan Growth Consultant (email us: [email protected]) Register for Frost & Sullivan’s Growth Opportunity Newsletter and Growth Team Membership e Bulletin to keep abreast of growth opportunities in your industry and best practices in your career track. (www.frost.com)