Build Innovative Products
what is Product Strategy?
Product strategy for my B2B go-to-market strategy
B2B products, apps, and websites require a different take on go-to-market strategy than B2C products. Your B2B go-to-market strategy will be critical to new products, but also to entrances into new markets and relaunches—and it’s not going to be a one-size-fits all type of thing.
Measuring a Product-Market Fit
you’ll need to have a robust and data-driven understanding of your target market’s business needs and demographics, psychographics, geographic, and behavioral characteristics of decision-makers and employees, and you can get an idea about this by getting answers for below mentioned questions.
- What are the pain points our product is solving?
- Which businesses and people have the problem your solution addresses?
- What is their willingness to pay?
- Which kinds of companies or businesses are experiencing these problems?
- What are the roles of the people most affected by these pain points, and what do their days look like?
- In which processes are they encountering these problems or inefficiencies?
Know Your Target Customer
So, when it comes to product-market fit (so literally, fitting into a market), stick with a reliable method to find and validate your target market.
Similarly, it might look like this:
- Analyze your solution’s benefits, and which type of customers have the painpoints you’re addressing
- Run extensive competitive analysis
- Choose segment criteria to research
- Develop buyer personas
- Perform thorough market research, keeping in mind which parts of the personas you’ll target and investigate
- Refine your ideal customer and target market
- Finally, Summarize findings into key takeaways for your team, executives, and board
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