Five Strategies to Create a Product Category
1. Get the name right.
So you’re creating a product category — what’s the name going to be? Names matter, so it’s a tricky business. A rose by any other name might smell just as sweet, but it won’t sell just as sweet.
We looked at seemingly countless options, ranging from customer analytics to customer insights and even customer artificial intelligence.
We also listened to pretty much everyone, too. There has been a widely accepted belief in B2B that analysts are the defining voice for new categories. With their two-by-twos and expert analysis, these firms have built very successful businesses offering advice to companies on product positioning, naming, and overall strategy.
However, without any disrespect to the analyst community, the world is changing. Customers have more voice, and technology has enabled companies such as G2 and TrustRadius to give these customers a medium by which to validate categories and brand leadership.