Transcript
WEBVTT
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Looking for a guaranteed way to create
content that resonates with your audience? Start
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a podcast, interview your ideal clients
and let them choose the topic of the
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interview, because if your ideal clients
care about the topic, there's a good
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chance the rest of your audience will
care about it too. Learn more at
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sweet fish Mediacom. You're listening to
be tob growth, a daily podcast for
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B TOB leaders. We've interviewed names
you've probably heard before, like Gary vanner
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00:00:31.859 --> 00:00:35.659
truck and Simon Senek, but you've
probably never heard from the majority of our
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guests. That's because the bulk of
our interviews aren't with professional speakers and authors.
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Most of our guests are in the
trenches leading sales and marketing teams.
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They're implementing strategy, they're experimenting with
tactics, they're building the fastest growing be
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tob companies in the world. My
name is James Carberry. I'm the founder
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of sweet fish media, a podcast
agency for B Tob Brands, and I'm
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also one of the CO hosts of
this show. When we're not interviewing sales
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and marketing leaders, you'll hear stories
from behind the scenes of our own business.
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Will share the ups and downs of
our journey as we attempt to take
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over the world. Just getting well? Maybe let's get into the show.
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Welcome back to be tob growth.
I'm Logan lyles with sweet fish media.
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I'm joined today by kidding call he
is product marketing manager over at Springbuck Kenny.
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How's it going today, man,
Hey, man, how you doing?
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Doing pretty good. I am doing
fantastic. I am excited to talk
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to you today. We're going to
be going over three steps to successful new
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product releases. Before we jump into
today's topic, as we usually do,
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I'd love to kick it over to
you, Kenny, to give folks a
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little bit of background on yourself,
your marketing career and what you in the
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team at springbuck er up to these
days. For a little bit of context.
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Sure. So I went to school
for Marketing and get the pleasure of
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doing day to day marketing from what
I studied in school, which I find
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a little bit of a rarity nowadays. So I'm enjoying doing that every day.
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Right out of college. I started
out of car auction services, an
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automobile auction company, and I did
quite a bit of marketing their early started
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my career. I started out with
campaigns and promotions and learned a lot about
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that specific to partner marketing and really
growing the customer and making sure that they
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are moving the right products along and
their market, and then decided I really
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wanted to transition into something different,
that being product focused or digital focused,
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and found that opportunity at springbuck to
move into a product marketing role where I'm
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learning a lot about how to bring
products to market, specifically in the cess
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world and being a being market and
then with the product marketing role I sit
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right in the middle of marketing department, Sales Department and product market product teams.
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So learning a lot about communicating with
different stakeholders cross of business and finding
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a lot of enjoyment and learning from
different people. Yeah, absolutely. And
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so for a little bit of context
for folks, what a springbuck do?
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What's the market you guys serve real
quick spring bug lives within the health analytics
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space. We are a health intelligence
platform. It extends beyond that traditional data
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warehousing and analytics helping specifically consultants and
employers unlocked data and maximize the value of
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their employee health investments. So really
health intelligence provide that streamlined, easy to
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use interface to confidantly assess plans and
programs so those consultants and employers can spend
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less time sorting through all that data
and have more energy to make the actual
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decisions that matter. Data Day,
yeah, whether it's health information or any
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sort of category of our lives.
were all swimming in data and making it
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actionable with with analytics is a key
part of a lot of different business functional
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roles and just our day to day
lives. So you guys are doing some
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good work. They're so let's dive
into today's topic. Kenny on three steps
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for releasing a new product. Can
it step one is really getting organized and
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planning a new product release. Tell
us a little bit you know at this
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phase what you've learned and some of
the best practices that you guys have found
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at Spring Buck as you're doing the
planning for a new product launch. Sure.
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So, kind of that first stage
is that ideation and the goals of
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what we want to bring to market, and that comes from a lot of
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talking with our customers or brainstorming and
internal innovation that we're pushing forward with our
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company. And some of the questions
were asking is like, what is it
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right? What's the value profit this
that it's going to actually benefit for our
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customers? And then we ask the
question what tier is it in? So
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we have three different tiers that we
try and bucket a different product within the
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first one being client satisfaction. So
is this going to be something that pleases
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our current customers or, perspective,
customers that are going to become customers?
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And then that second tier is is
it going to drive sales or partner expansion?
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So is it going to end up
being a tool or product that sales
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will really benefit from, driving new
net new business? And then the third
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tier is market uniqueness. So is
it a differentiator in the market? Is
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it something our competitors are not doing? Is it a way that makes us
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stand out from the crowd and is
something that we can call our own and
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really capitalize on? So those are
the three piers and I like to put
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them in this ven diagram format understand
where they overlap, because different products might
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fall into multiple tiers. So if
it's clients as faction and drive sales,
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you know, maybe it's in the
middle of those or maybe it's really meeting
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all three of those tiers and it
sits right in the middle, in which,
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as we actually keep the product and
go through the entire launch, we're
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going to capitalize on all of our
tactics that we've identified or most successful for
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launching a product, because it meets
all those different tiers. Hmmm, I
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love them. And so those three
are one, is it going to help
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us increase client satisfaction to is it
going to help drive mostly net new sales
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or some sort of market expansion?
And three, is it going to give
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us some sort of competitive differentiation in
the market? Depending on where you decide
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that, you know, a new
product that you've decided to launch fits within
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those and I think you make a
really good point that you know they're not
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just buckets. Look at it as
a then diagram and does it, you
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know, fit in all three or, you know, seventy percent in client
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satisfaction, with a little bit into
driving net new sales? Does that inform
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your approach differently, depending on where
it falls on that ven diagram, in
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either how quickly you bring it to
market, how you prioritize it, I
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imagine, depending on, you know, what your current objectives are at a
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high level within the organization. Depends
on okay, where it falls in the
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van die a gram will help us
prioritize it against those high level objectives as
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an organization. Would you agree with
that? Yeah, absolutely. I think
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one of the things that we we
will figure out across different stakeholders and different
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teams as is this going to be
something we just waunt in the market right
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away, or is it going to
be something we test and iterate and then
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launch and go through maybe a Beta
period or pre launch with current customers to
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allow them to test this product and
give their feedback on it and say,
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Hey, this does meet my expectations
or the value that you're saying this will
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bring really isn't bringing me that value, but it brings me this idea.
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Maybe we have the opportunity to pivot
before we do more of a general release
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to all customers and then start selling
it to prospects. And so I think,
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based on the tears that we determine
this product falls into, we have
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the opportunity to either go to a
Beta period or just launching into market and
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then test and iterate along the way, depending on what tier goes into.
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Hey, everybody logan with sweet fish
year. You probably already know that we
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think you should start a podcast if
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have and you're asking these kinds of
questions? How much has our podcast impacted
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revenue this year? How's our sales
team actually leveraging the PODCAST content? If
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and casted dot US growth. That's
sea steed dot US growth. All right,
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let's get back to the show.
Yeah, any best practices or even
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you know, sometimes we learn best
from failures, right, any potential pitfalls
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in that user testing period that you
go through, which, again, depending
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on where the new product falls in
this ven diagram you've been sharing with us,
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might inform how you test it with
current customers or whether you do a
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Beta or you know, those sorts
of things. But in that testing period
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you know we can get some false
positives or you know, different things like
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that, where we think we're getting
this indication but it's not actually going to
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hold true when we bring it to
market. Any pitfalls in kind of how
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you approach that testing and those initial
feedback loops that you've seen as a product
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marketer? Sure, so, we've
just put a product into Beta recently and
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it's something that we've experienced. Our
customers are interacting with it and they've had
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a chance to use it for a
little while now and said, Hey,
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I really wish it could do this
and if it can't do this, then
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I don't really think it's going to
be as beneficial as you had intended it
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to be. And so what we've
done in reaction to that is extended our
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Beta period and said, hey,
we're going to go back and go back
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to our engineering teams, development teams
and we're going to build this into this
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product. They'll come back to you
and expend that Beta, Beta period so
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that we can get that feedback and
see if this meets the expectation and the
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full value that you were hoping the
product would. And so right now we're
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in the stage of building that into
the product again and then we'll go back
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to our group of Beta users,
it's about ten, ten to fifteen users,
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and get their honest feedback, which
has been very helpful in terms of
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is this product going to be successful
and how do we want to go to
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market with it? And as I
create the messaging to go to market with
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it, I can really capitalize on
the value props that our customers think are
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most important of the product so that
it really resonates for potential net new business
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and then other customers that weren't a
part of the Beta period, that true
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value is realized really quickly. Yeah, that makes sense. So basically keeping
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that feedback loop very tight, as
opposed to saying, well, this was
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a flop, take that and you
know, you may be going all the
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way back to the drawing board,
but maybe not entirely, but then go
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back to those users that have already
given you feedback, as opposed to starting
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over with a brand new product and
a brand new set of Beta users.
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I think that's that's really good advice. They're Kenny. So you mentioned something
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at the top of the episode I'd
like to come back to and that is,
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I think, going to be crucial
in this second step of a new
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product launch and that's aligning with the
different departments that often product marketing sits right
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in between marketing, sales and product. Can you tell us a little bit
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about, you know, as you
start to go to market with a new
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product, some things that you've learned
in aligning with those three other functional roles?
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Yeah, of course. I think
the biggest thing is just overcommunicate,
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and I'm just learning that over and
over again, and I think one of
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the things I'm also realizing is it
doesn't take a lot of time or effort
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to have high impact, and I
think that an example that can be just
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sending a simple email and saying,
hey, this is where we're at in
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the product release process, that we're
in Beta period, and we to use
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that. Last example. Just learned
this from our customers, so we're going
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back to the drawing board to add
this into the product and just making sure
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that that's communicated across the team,
making sure that our client success team knows
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that so that when they are on
the phone of those Beta users daytoday,
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understanding how they can keep that relationship
positive, that they know that, okay,
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they have provided feedback for our product. That's in production right now and
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that relationship is a to way street, so that basically that customer success team
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knows that those conversations are happening or
on the other end, product will know,
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hey, this is what we're hearing
from the Customer Success Team K on
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the daytoday basis, and they're struggling
with maybe data issues or maybe they're trying
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to go to market with Spring back
to grow their business and they'd really like
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to have this feature represented. So
making sure that each team kind of has
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a voice at the table, and
I kind of become the cog or the
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middle of that to make sure every
team has a voice there. Yeah,
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absolutely, I think it echoes what
we were talking about, you know,
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with the customer facing communication and keeping
those feedback loops tight, with just regular,
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consistent communication with those other departments as
going to keep you on the same
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page as you move through the process. So we've got, you know,
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getting organized, deciding where the the
new product fits in your overall strategy,
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aligning with the other departments that are
going to be crucial in a successful new
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product launch. And then, you
know, step three really is, once
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you've launched, how do you measure
success? And you know this. There's
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probably no, you know, just
one and done, quick, easy answer
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to this, but I would love
to hear from you, Kenny, some
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of the ways that you guys approach
measuring success after a new product launch,
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some of the leading indicators, some
of the things that you do once you
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bring a new product to market to
test and iterate, you know, in
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this third stage of the process.
Sure. So what we're doing today is
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defining a process for collecting success on
our product. So, thirty days after
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launch, we're going to meet with
all those teams, the sales team,
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product team, marketing team. We're
going to sit around, we're just going
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to talk about, Hey, what
well through our product release process and say,
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now that it is in market,
what are the results look like?
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Has It driven good conversations? Has
It allowed you to get your foot in
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the door in a conversation you've been
trying to have for quite a long time
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and now with this product and feature
in our playbook, then it allows us
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to actually have that conversation. Or
maybe it's actually helped you to get a
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few new opportunities that you wouldn't available
to get before capturing those results and then
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actually sharing them and putting them on
paper allows us to set up better goals
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for the next product as it launches. I think today is a little bit
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difficult and something that we're learning and
I think it'll just continue to become more
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clear what those goals should be as
we continue to measure the success after it
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launches. What are some of the
other like kind of benchmark points that you
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guys have put outside of that,
you know, thirty day meeting kind of
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further into the future for folks that
are maybe getting ready to go through this
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process as they think about okay,
what should be our cadence of reviewing things
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beyond that initial period? Kenny,
right now we're folcusing on revenue goals and
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can as we launch new products,
can they increase potential revenue and forecast in
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that revenue can be difficult, but
something that if you align a product and
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it is maybe a differentiator in the
market, try and put a price tag
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on it based on customer research and
then forecast out to say, if we
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can generate this amount of income and
potential net new business down the road time
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to this product, then we can
deem it successful and keep promoting it as
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is or shift in our strategy and
say maybe we need to increase the cost
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because everyone's buying it and saying it
is the best product in the market and
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that's that's a great opportunity. Yep, absolutely, I love that kind of
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two sided approach to measuring the the
impact on revenue. I mean one just
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that you're talking about it and so
many marketing leaders we talked to on a
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day to day basis on this show
and offline are talking about, you know,
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aligning themselves to revenue goals. So
I love to hear you say that
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as a product marketer as well,
and so you know what you were saying.
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They're Kenny is, you know,
try to extrapolate out a potential forecast
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based on the value or your assigning
to this new product and don't just look
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at Hey, did we get to
where we wanted to go? But if
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you way overshoot that, that's not
a bad thing. Like you said,
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it's a great problem to have,
but you may need to revisit, you
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know, the pricing strategy with it
because you may be leaving money on the
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table. I think that's that's great
advice to not just, you know,
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accept hey, we blew it out
of the water and and let's keep pressing
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on as is. You want to
pay attention to that just as much as
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if you fall short of those revenue
forecast goals as well. Kenny, this
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has been a great conversation. I
love the way that you've kind of broken
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down into three steps. New Product
releases. One of the things we like
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to do with a lot of our
guests here on BB growth is ask them
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a learning resource that's been informing their
approach lately, as we try to help
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folks embody one of our core values
here at sweet fish to never stop learning.
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So, whether it's a podcast,
a book, someone you follow on
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social I would love for you to
share with fellow marketers out there something that's
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got you excited or is helping improve
your approach, either personally or professionally lately.
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Sure I actually have two things that
come to mind quickly. The first
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being taken some time to actually rest
and just regenerate my brain and doing something
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creative outside of work. It just
allows me to be so much more productive
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in the daytoday work life. And
I think it was Ken Coleman works with
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Dave Ramsey. He said burnout is
not really something that is existent. It's
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just people that don't actually take the
time to rest their mind and their heart
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and actually focus on what one are
the most important things at least once a
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week, and so I try and
practice that and it keeps me high energy
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and keep some focus on my daytoday. So that's that's the one thing.
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And then the second thing has been
interesting resource, not a book, not
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a Podcast, by a slack channel
specifically for product marketers. It's product marketing
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alliance. Out there different channels like
product marketing, questions, resources, different
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general content. That just allows me, on a team of one right now,
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to have a channel to collaborate with
other product markers that have similar challenges
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in their day to day and talking
among different stakeholders within a business can be
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difficult at times, and just having
a place to say hey, are you
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going through a similar challenge and bouncing
those ideas off each other has been pretty
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good resource to me. I love
it, man. So will put a
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link to that Product Marketing Alliance slack
channel in the show notes since it's been,
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you know, so valuable to your
approach, especially anyone else listening to
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this in product marketing. We want
to make sure they've got access to that
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resource. So I really appreciate it
and I can echo what you're saying about
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about burnout, not only taking time
for rest but, like you said,
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taking time for other creative endeavors not
associated to work and how they're going to
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help you do better work and be
more creative at the job at hand,
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day in a day out. So
love what you're saying there. Kenny,
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you've been a great guest on the
show. If anybody listening to this would
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like to reach out or stay connected
with you, what's the best way for
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them to do that? Yeah,
you can reach me on Linkedin and Kenneth
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l hall, backslash or Kenny Hall
just searching with Springbuck, or you can
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shoot me an email at Kohol at
springbuck bacot. I love it. Man,
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thank you so much for being a
guest on the show today. This
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was a lot of fun. Thank
you so much. We totally get it.
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We publish a ton of content on
this podcast and it can be a
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00:20:51.759 --> 00:20:55.799
lot to keep up with. That's
why we've started the BB growth big three,
280
00:20:56.240 --> 00:21:00.480
a no fluff email that boils down
our three biggest takeaways from an entire
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00:21:00.599 --> 00:21:04.710
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