For today’s technology companies, growing market competition is a weekly occurrence. But it’s easier to accept, even encourage competition, so long as you’re striving to provide the better product. Right? The reality today though is that marketing strategies from 5-10 years ago, including the assumption that satisfaction with a product means good customer lifetime value, doesn’t always hold true. Although customer lifetime value and loyalty still need to be the focus to compete, companies need to be prepared to go beyond their product and prove how they can serve customers not just today, but well into the future.
So how do you demonstrate future success? A well designed roadmap might just be the place to start. If companies can break the old marketing traditions by becoming more transparent with their plans for the future and leverage their roadmaps, then the competition may still be in the bag.