377: Get your product’s go-to-market strategy right – with Karthik Suresh

What product managers need to know about launching products Today we are talking about go-to-market planning and what is involved in planning the launch of products. Helping us learn about this is Karthik Suresh. He is a technology product leader who has led teams as founder, early hire, and executive at companies including Facebook, Craft.co, and KCG holdings. He studied computer science at Carnegie Mellon and business at the London Business School. Now, he is the co-founder of Ignition, which has helped organizations launch more than 200 products. Ignition is the world’s first go-to-market platform for managing all stages of the product life cycle. Summary of some concepts discussed for product managers [1:50] Can you share a story about getting a product to market? My last role at Facebook was as a product manager in the Facebook Reality Labs, which is now Meta. The go-to-market (GTM) process involves many different teams, including engineering, product, marketing, and management. We worked with teams across Facebook to launch the product. It was a huge, highly cross-collaborative process with many stakeholders. We managed it out of one giant spreadsheet about target persona, messaging, positioning, etc. A bunch of people from different teams collaborated by getting together and talking about what we had gotten done. We had a huge launch checklist with all the things we had to do before launch, like promotion, design, copywriting, budget for campaigns, approval from leaders, and legal. It was one of the hugest, most cross-functional processes I’ve been through, and it was surprising that everything was managed through one spreadsheet. Six months later, we had another launch with a new product marketing manager who did it differently. We had to learn everything again. It was a highly fragmented process, with assets and copies delivered in various different ways. Eighty percent of the time, product marketing managers are managing stakeholders rather than planning the launch. [9:48] What factors contribute to failures in launching products? One of the biggest issues is not having a strategic planning process for go-to-market. Companies dedicate most of their resources to engineering and product development and very little to messaging about their value propositions. Sending an email to customers is not a launch. You need a multichannel approach to reach your target users. Another reason is lack of experience. Company founders tend to be product managers or engineers who value product and engineering over marketing. Many product marketing managers don’t have previous experience doing launches at a large scale. Your go-to-market process should be tiered. Spend the first tier planning as a team, setting objectives, thinking about the target audience, talking to users, and figuring out messaging and positioning channels. You need to communicate your value proposition to your customers. Product managers talk a lot to users, but marketing doesn’t have that experience, so they often copy everything from the product specs and make that the launch. That doesn’t work because it needs to be a completely different process. You also need to know what marketing objective you’re going after and have a game plan for each objective. If you’re trying to get customers to switch to your product from a competitor or you’re trying to grow your category, you could invest in SEO. But if you’re creating a new category, don’t invest in SEO because people aren’t searching for it yet—instead, invest in content generation. Another problem is being rushed. Marketing teams and engineering teams rarely communicate about delays. There’s a problem with coordinating timing. [15:54] What elements should be part of go-to-market planning? At the macro level, go-to-market includes the company-level GTM strate...