Why is a product modernisation not only about tech? And how can we shift perspective beyond tech, so that our modernisation creates a successful product?
The product leader Andrea Bandera explains that:
There are a lot of B2B products, that have been built over years, addressing large customers' requests. But the problem, is that there comes a time when this business model of having large customers is getting less sustainable, because:
1) Because large customers allocate less budget and not longer fully fund the development of the big feature.
2) Because large customers looking for guidance outside from the market on more technical aspect.
"This means that you as a product company, need to come with a solution ALREADY DEFINED for them." AND "You are no longer just listening from them what customers need and implement it." INSTEAD: "You need to understand how you can use those technologies."
For those companies that are used to implement requests from large customers, usually the relationship with their customers is:
- LISTEN to what customers want,
- Try to UNDERSTAND the REQUEST properly
- and then IMPLEMENT it.
But if you want to be at the forefront, you need to provide solutions to customers. This means that you need to:
- LISTEN
- Deep dive and really understand the real NEED that is behind what you hear
- and then FIND a valuable and effective solution for that.
So you have to FLIP THE RELATIONSHIP with your customers. FROM: a more executive approach: I listen, I implement and I give you what you asked me. TO: I proactively try to understand what you need. I choose what to bet on, what to invest on, I implement a valuable solution, and then I start to sell.
This is a huge flip and it's a big difference, IT'S YOU as a product company that has to bring the understanding and knowledge to lead the product development, NOT the client who tells you what to build.
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Find out more about HOW Andrea helps companies modernise their products and their organisation. Andrea shares lessons learned and practical tips that you can apply tomorrow.
