Creating the wow
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The document discusses how to create breakthrough products and experiences that "wow" customers. It provides 5 rules for breakthroughs: 1) having real customers with clear needs, 2) listening to customers, 3) showcasing problem-centric stories, 4) changing the game to win, and 5) only leaders thrive. It also lists must-dos for selling breakthroughs like thought leading the market and accounts. The rest of the document uses HealthShare, a healthcare informatics platform, as a case study for how it transitioned from an underwhelming product to a breakthrough by repositioning itself, re-targeting its market, and driving the breakthrough through market targeting, sales training, and thought leadership programs.
Creating the wow
- 1. Creating the Wow 2013 Executive Leadership Conference Richard Currier
- 2. Wows/Breakthroughs: Getting There The breakthrough rules: 1. Real customers with clear, pressing needs 2. Listen to customers to learn how to lead them 3. Showcase theme-based problem-centric stories 4. Change the game to win 5. Only leaders thrive The “must do’s” for selling breakthroughs • Thought lead your market • Thought lead accounts • Obliterate obstacles
- 3. #1 Real customers/ clear pressing needs Populations Needs: Recognized urgent needs Target Urgent Markets Important Useful
- 4. #2 Listen to Customers to Lead Them Useful Important Talk Passion Talk volume Urgent Need Categories
- 5. #3 Showcase Thematic Problem Stories The formula for great stories: •They need to be crisp, clear and compelling •They are problem-centric • The problem is compelling, easily understood, quick to tell and highly empathetic •Story artifacts make them more compelling • Name dropping (especially people/ peers) • Numbers (especially numbers about the problem) • Visual or metaphorical •You should build a compendium of stories • Multiple stories are needed to accommodate different situations
- 6. #4 Change the Game to Win • It starts with a vision Usually focusing on a different problem • It requires high impact sales/ marketing •Thought leadership for accounts/ markets •Change the way you sell and market •Change the way they buy • It is anchored in compelling product attributes • Sometimes new product is required
- 7. #5 Only Leaders Thrive Breakthrough apps that wow! revenue time
- 8. Where to Start Goals, objectives, aspirations Key strategies, themes, Long, medium and short term stories, … Problems, barriers to success Target Markets Buyer Needs
- 9. HealthShare Needed a Breakthrough Ensemble’s underwhelming results A great product loved by customers with a mixed market reception Ensemble’s missed market positioning •Composite apps •Messaging engines HealthShare’s slow start •Great product but slow uptake •Questionable market (buyer viability, only needed: “simple”?)
- 10. HealthShare: A Wow / Breakthrough Re-positioned product, re-targeted market: •Key benefit: HealthShare rapidly delivers high-payback (breakthrough) benefits to some of the most pressing, vexing healthcare problems •What sets HealthShare apart: HealthShare is an innovative strategic healthcare informatics platform that efficiently delivers far greater value than tactical point solution alternatives •The three keys to the HealthShare breakthrough: •Strategic interoperability •Engaged communities •Analytics in the active dimension
- 11. HealthShare: Driving the Wows • Market targeting • Sales training • The Roadshow • Targeted thought leadership programs
- 12. Creating the Wow 2013 Executive Leadership Conference Richard Currier