Great technologies don’t create business success, but great marketing can.
The start-up ecosystem is flooded with great technologies each searching for an exit. We have created a system of innovation that makes decisions to optimize the next business transaction, instead of driving product-led growth.
Don’t get trapped in the product-market-fit fallacy
Technologies don’t create unicorns; products do. Today, founders are funded for technology innovation with little concern for product strategy. That’s why there are so many services that promise to assist founders with “product-market-fit”. Anytime your product is searching for a market, you have ignored the marketing function. If your startup is seeking services to help you with “product-market-fit”, you should be prepared to manipulate a market need or go back to the beginning and perform the product design process in the way it was supposed to be performed in the first place. There is also the option to do nothing, which usually ends in failure.
Founders find themselves in this position for two reasons:
- They don’t understand the difference between a technology and a product.
- They don’t understand the product marketing is more than web pages and brochures.
Marketing is more than pretty pictures and websites
In most technology startups, marketing is one of the last roles to be hired, after the technology has been developed. At that point, there is little marketing can do to help right the ship for the initial release.
We aren’t suggesting this is an easy problem to solve. We understand the pressure from investors on progress with the technology. That is why EOP Media has developed services to help founders get the marketing support they need when they need it.
The Product Value Cycle investigative engagement will help founders determine the difference between a technology and a product. It will also help them define the many different options for generating value across stakeholders.
The Product Value Cycle workshop is for the do-it-yourself founder. After completion of the class, you will have a flexible framework for defining your product and determining the value streams that align with your business goals.
