In our previous blogs, we discussed the major opportunity cost CSPs sustain in not launching all of their products. But the ability to launch products is only one dimension of product performance. Delayed time to market also incurs enormous opportunity costs. Some products are even time-sensitive opportunities that will expire entirely unless the CSP is able to deliver them within the correct time frame.
As can be seen by Figure 11, Sales and Marketing teams expect telecom products to take less than 6 months to launch, which is long enough. In reality, it can takes over two months more than that (8.87 months). This translates into an overrun of over 40% on average against marketing expectations.
In contrast, the most agile operators are able to plan and launch a product in less than one month.
The causes of delay in the PLM process are widespread. As shown in Figure 12, for the majority of CSPs delays occur in all parts of the process except monitoring (although 3 in 10 still experience delays here).
When a product’s management process lacks reliability, marketers cannot build demand for those products, which has long-reaching effects for the entire organization.
To learn more about the crucial role of product lifecycle management, download our whitepaper.