Give Your Customers A Compelling Reason To Buy Your Product | by Amid Sedghi
This is the continuation of a series of blogs on topics covered in Geoffrey Moore’s Crossing the Chasm.
In the previous Blog, we figured out how to make a decision on which market segment to dominate. Such a high-risk, low-data decision required an intuitive approach that consisted of creating customer characterizations and a scoring system that distinguished the market segment best to attack.
To purchase any product, the buyer needs a compelling reason, therefore our product must be superior to its alternatives. This becomes the main objective when we target a niche market to such an extent that we have to establish a monopoly.
As with any marketing campaign, there will be slight differences between the promise and the deliverable. To ensure smooth market dominance, we must pay attention to the completeness of our product: the complete product model. Moore describes the completeness of the product as a layered circle of onion where there are 4 layers:
- Generic product: general characteristics to be shipped
- Expected product: the minimum expected functionality of the product
- Augmented product: the product with the highest possibility of meeting user needs and expectations
- Potential product: the product with strong growth potential because the additions of functionalities are deliverable
Visionaries and enthusiasts, at a minimum, will need product support. But pragmatists evaluate and buy entire products. Responding to their demands is essential to negotiate the gulf between first adopters and the first majority. And so, we have to pay attention to the overall planning of the product.
Full Product Planning is a roadmap for moving from each layer of the entire product model to a more complete version of the product. To have a more complete product, we have to start with the end user and go back to see what our product needs to deliver a fully complete user experience. Can we have additional embeddable software, more hardware, a facility management tool, training, or guidelines?
The need to integrate additional functionalities calls for partnerships.
Partnerships are delicate, especially in the management of cultural clashes between two companies. However, to be successful it is important to evaluate the alliance in a tactical way so that the whole product facilitates the success of all businesses. An example could be when SAP, HP and Anderson Consulting joined forces to replace IBM as a supplier of ERP (Enterprise Resource Planning) systems.
The whole product needs to be looked at from each partner’s perspective so that each supplier wins fairly. No one should feel ripped off after the success of the product in order to maintain their leading position in the market.
In the process of partnering, it is important to build trust with specific individuals as companies are always suspicious of each other.
Ultimately, the most difficult partner to manage in the military is our own business. It is important to refer to our customers as a point of reflection because they are our true allies.