Many midsized software vendors adversely fumble the critical pursuit of game-changing market intelligence research and analysis that lead to strong go-to-market strategies. Continuously updated market intelligence is the keystone for understanding what software products vendors should be selling – and why; and to determine which customers and markets are the best fit for the vendor’s offering now and in the future.
Midsized software vendors often lack essential experts, especially for solution and customer strategies, and strategic market intelligence. Usually these vendors don’t have the resources to continuously update strategies. But just as often it’s because strategic decisions aren’t based on data and intelligence – they’re based on “gut”, previous experience or even ego. If any research and analysis are done, the work is often shallow and designed to “prove” what the vendor has already decided to do.
Vendors seem to proceed with no clear indication of how their offerings and go-to-market plans might align to a clearly defined business solution space, or to specific customer and market segments. The main focus of many software vendors is still on feature sets, instead of forging a sharp commitment to delivering authentic and useful solutions for specific industry scenarios and business problems.