Bringing a tech innovation in a B2B market

The 5 pitfalls to avoid when bringing a tech innovation in a B2B market.

We have seen (or sometimes made) all the mistakes ! From launching award winning products which never made a sale, to overselling tech buzz words to investors and never managing to deliver.

So here are our top 5 pitfalls to avoid, and some ideas on how to avoid them.

1. Ignoring market complexity

B2B markets involve multiple stakeholders with diverse roles and long buying cycles.

You need to make sure that your Go To Market strategy makes full use of the efficiency others (i.e. Partners, Resellers, Integrators, Consultants, etc.) can add to your own strengths and credibility. And you need to make sure that your Sales team is equipped to be addressing the diverse concerns and questions the different stakeholders have (CEO, Finance, Tech, Operations, etc.).

2. Lack of Data Quality

Poor data collection and analysis can lead to ineffective market segmentation and targeting.

It’s quite rare that the new product or service you are launching will be useful for all enterprises, even in a given industry. The hockey stick graph of large consulting firms are a good indication of a general trend but pretty useless to help you target your key market. Having an experienced Product Marketing team which analyses the detailed feedback from your Sales team is a necessity. External consultants can also help bring wider knowledge and opinions.

3. Absence of Marketing Fundamentals

Many businesses gravitate towards broad targeting by fear of missing out on potential leads. However, a murky understanding of the Ideal Customer Profile (ICP), a lack of unique positioning, and a generic lead generation strategy usually fails to deliver.

In a technology company, we would recommend that the Marketing team be actually very Product focused with a deep understanding of the tech and of the market. All things Communications can be outsourced to specialised agencies.

4. Rushing Development

An intense competitive landscape can push companies to want to launch an innovation before their competitors. But rushed developments tend to deliver solutions encompassing the latest tech trend, eventually with residual bugs, rather than solutions solving an actual issue.

You end up trying to sell vitamins to clients who only want to pay for aspirin !

5. Not creating a strong value proposition

Without a differentiated and compelling value proposition, your innovative product or service is just another commodity.

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