Hanover Research’s Post

Drive growth with our latest blog on "4 Strategies for Product Expansion." Learn how product expansion can increase #marketshare, drive revenue, and create new opportunities. Read it now! #businessgrowth https://hubs.ly/Q02p5lhy0

Competition goes beyond companies and products; it revolves around the strategies employed by #sales and #marketing teams. The key to success lies in an adaptable growth #strategy that responds to real-time customer behavior. Simply relying on product differentiation may not suffice if your outreach mirrors that of hundreds of others. People forget they are sailing in frequently changing market dynamics. What worked before even for you wont work again. While familiar paths may seem comfortable but with time they become shorter, pushing the destination further away and you wonder why you haven't yet reached like many others. You wont. Sales strategies are not future trading, expecting it to materialize some day. Today buyers appreciate relevancy and speed in outreach. That should be the focus. #BusinessStrategy #Adaptability #Innovation #CustomerBehavior #ceo #software #founder

Time to Market Can Vary. When setting up a new product with a vendor, businesses and procurement teams often need to balance the trade-offs between ensuring everything is perfect before launch and entering the market earlier to improve while selling and building. The Perfectionist Approach, "Get Everything Right Before Launch," focuses on refining the product and addressing all potential issues before launch, ensuring minimal defects or customer complaints. A strong first impression can establish a strong market presence, build brand credibility, and avoid the risk of negative feedback, with fewer post launch adjustments. This reduces the need for fixes, saving costs on emergency adjustments. The downside, however, of a delayed time-to-market may cause businesses to miss market opportunities or allow competitors to capture market share. In focusing on perfection, companies may add unnecessary features or complexity, which could inflate production costs or confuse customers. A “Launch and Improve While Selling” Approach, can be quicker to market, and businesses can capture market opportunities quickly, gain customer feedback, and adjust accordingly. Early sales can help generate revenue that funds future product improvements, spreading out development costs. Testing a product with customers allows businesses to validate demand and adjust features based on actual user preferences rather than assumptions. Something in the middle can be a Hybrid Approach, "Phased or Soft Launch". This may be a launch or beta version, for a smaller audience or specific market segment to test the product in a real environment before a full-scale release. It also allows an opportunity for customer feedback early, allowing businesses to refine the product before the full release. A clear improvement roadmap is built into the process. The choice between waiting for perfection or launching early depends on market dynamics, industry standards, and internal capabilities. Each approach has its own risks and rewards, and successful companies often strike a balance between the two by carefully assessing customer expectations, competitive pressures, and the ability to adapt post-launch. A hybrid or phased launch strategy can often mitigate the extremes of both approaches, allowing for market entry while maintaining flexibility for improvements.

Revenue isn’t just about growth; it’s about the right growth. Success comes from choosing the right customers, refining offerings to meet their needs, and innovating to stay ahead. Sometimes, it also means making the tough yet necessary decision to fire customers who no longer align with your vision. Discover how a customer-first approach fuels meaningful innovation and long-term growth: https://lnkd.in/gAA-k3QC #PeopleFirst #SustainableRevenue #GrowthMindset

One strategy I believe every business should consider is a #ProductLedSales approach. Here's why: 🔄 Seamless Integration: Integrating customer acquisition directly with the product experience makes the #SalesFunnel more efficient and significantly more scalable. 💰 Cost-Effectiveness: With #CustomerAcquisition costs rising, a product-led strategy is a more economical choice. It's about achieving higher #ROI with lower expenses. 🔄 Automated Growth: This approach's beauty lies in its self-sustaining nature. A positive feedback loop autonomously attracts new customers, reducing the burden on #sales and #marketing teams. What's more, referrals seamlessly find their way through the sales funnel. 🚀 Growth on Autopilot: Product-led sales can drive your business forward with minimal intervention. It's about setting your growth engine on the right course and watching your business scale. Implementing this will transform your growth trajectory. It's about letting the product sell itself. Learn how: https://hubs.ly/Q02qBnSS0

💎Revenue Growth: Simple Strategies, Big Impact💎 Strive for perfection, but embrace progress. How to thrive? 💎Identify new revenue streams 💎Optimize existing channels 💎Engage with your customer base In the business world where choice is abundant, standing out is key. But not at the cost of action. How should you stand out? By focusing on concise, actionable strategies, SMB owners and directors can navigate the complex landscape of revenue generation. Remember, perfect moves may hold you back from making any moves at all. Strategy is about choices and trade-offs; it's about choosing to be different. Let's focus on making those smart, strategic choices that drive your business forward. #success #growthmindset #corporatestrategy #revenuegrowth   #revenueoptimization

If we've worked together in the past, you probably know I'm quite 𝘰𝘣𝘴𝘦𝘴𝘴𝘪𝘷𝘦 about putting the 𝚌̲𝚞̲𝚜̲𝚝̲𝚘̲𝚖̲𝚎̲𝚛̲ ̲𝚊̲𝚜̲ ̲𝚝̲𝚑̲𝚎̲ ̲𝚑̲𝚎̲𝚛̲𝚘̲ ̲𝚘̲𝚏̲ ̲𝚝̲𝚑̲𝚎̲ ̲𝚜̲𝚝̲𝚘̲𝚛̲𝚢̲. 🦸♂️ Whether you're about to start product development or write your website messaging, it's imperative to start with a deep understanding of your customer and their painpoints. This is also the first step in creating a strong go-to-market strategy. 💪 In this article, I cover: ⁉️ Defining the Problem: What is the Urgent and Persistent Pain Point? 🌏 Sizing the Opportunity: TAM, SAM, SOM 🙋♀️ Who is the Customer? Creating an Ideal Customer Profile (ICP) Head over to the New Market GTM blog to read more. https://lnkd.in/eUdWeg7G

💎Revenue Growth: Simple Strategies, Big Impact💎 Strive for perfection, but embrace progress. How to thrive? 💎Identify new revenue streams 💎Optimize existing channels 💎Engage with your customer base In the business world where choice is abundant, standing out is key. But not at the cost of action. How should you stand out? By focusing on concise, actionable strategies, SMB owners and directors can navigate the complex landscape of revenue generation. Remember, perfect moves may hold you back from making any moves at all. Strategy is about choices and trade-offs; it's about choosing to be different. Let's focus on making those smart, strategic choices that drive your business forward. #success #growthmindset #corporatestrategy #revenuegrowth   #revenueoptimization

Action Items for the Growth Marketer: Align internal teams on the most critical success metric before starting any growth initiative, ensuring everyone is clear about the highest leverage activities. Use growth models to identify actionable levers for driving customer engagement, and balance short-term results with long-term customer value. Let JoeMarketing assist you with your PLG motion. Learn more about our GTM, PLG, and SLG services here, or contact me here. #PLG #ProductLedGrowth #GTM #GoToMarket

It’s easy to get caught up in new products, flashy marketing, or the latest business trends. But at the end of the day, if you’re not putting your customers at the center of your strategy, you’re missing out. I’ve seen firsthand how a strong customer focus can be a game-changer for growth. Here’s why: - They know what they want – Your customers are the best source of feedback. Listen to their needs, and you’ll stay ahead of the competition by providing exactly what they’re looking for. - Loyal customers = steady growth – Happy customers don’t just buy more—they spread the word. When you prioritize them, you build long-term relationships and create advocates for your brand. - It drives innovation – Customer pain points are opportunities in disguise. By solving their problems, you’re not just helping them—you’re pushing your business forward. - Better decisions – When every choice is made with the customer in mind, you’re less likely to waste time and resources on things that don’t matter. At the end of the day, growth isn’t just about numbers. It’s about delivering value, and that starts with truly understanding your customers. #CustomerFocus #CustomerExperience #CustomerSuccess #BusinessGrowth #SalesLeadership #CustomerFirst #LoyaltyMatters #BusinessStrategy #GrowthHacks #LeadershipTips