Last updated on Jul 10, 2024

You're refining your product positioning. How do you address stakeholder concerns about potential risks?

As a product marketer, you're constantly refining your product positioning to stay competitive and relevant. However, this process can sometimes raise concerns among stakeholders, especially regarding potential risks. Addressing these concerns is crucial for maintaining trust and ensuring that your product continues to thrive in the market.

Key takeaways from this article

Engage stakeholders early:

Bring key stakeholders into the fold from the get-go. Organize workshops or focus groups to collect their thoughts, making them feel heard and part of the journey, easing their concerns about risks.
Ask clarifying questions:

When a stakeholder expresses worry, dig deeper with specific questions. Understanding their perspective on risks can integrate their concerns into your strategic planning, mitigating potential issues.

This summary is powered by AI and these experts

1 Understand Risks

When refining your product positioning, start by understanding the potential risks from a stakeholder's perspective. This involves identifying any factors that could negatively impact the product's success or lead to a misalignment with market expectations. Engage with stakeholders through meetings or surveys to gather their insights and concerns. By acknowledging these risks upfront, you can develop strategies to mitigate them, thereby reinforcing stakeholder confidence in the product's direction and your ability to manage challenges.

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Kayla Lafi

Product Marketing Manager | 1x LinkedIn Top Voice | Responsible AI & Governance | Full Stack Marketing | Tech for Good Advocate | Building the first Celiac AI assistant
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Ask clarifying questions to the stakeholders about their concern for risk. Analyze the risks they propose and consider them within your thinking through of the positioning.

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Marilia Manfrin

Marketing Manager | Global Brand Lead | Strategy | Innovation | Branding | Mentor | Tarsila’s Mother
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Estratégia realista onde contemple os objetivos, principais ações, prazos, custos e riscos envolvidos. Isso deve ser contemplado e compartilhado com todos os stakeholders desde o momento inicial.

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2 Communicate Clearly

Clear communication is key when addressing stakeholder concerns. Make sure to articulate the rationale behind the new positioning, how it aligns with the overall business strategy, and the anticipated benefits. Explain the process you'll use to monitor and respond to market reactions, and be transparent about any uncertainties. This level of openness helps build trust and demonstrates that you're not only aware of potential risks but are also proactive in managing them.

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Marilia Manfrin

Marketing Manager | Global Brand Lead | Strategy | Innovation | Branding | Mentor | Tarsila’s Mother
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Comunicação clara envolve mostrar os trade-offs que serão feitos naquele projeto. TUDO NÃO TERÁS. Diante das decisões estratégicas e deixando os objetivos principais claros e visíveis sempre, será mais fácil monitorar e responder ao mercado.

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3 Involve Stakeholders

Involving stakeholders in the product positioning process can significantly ease their concerns. Invite them to participate in brainstorming sessions and provide feedback on positioning statements or marketing materials. This collaborative approach not only taps into diverse perspectives but also gives stakeholders a sense of ownership in the product's success, which can alleviate fears about potential risks.

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Raveen Subasinghe

Digitally transforming organizations, one paper at a time.
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Involve key stakeholders early in the process to ensure their input is considered. Organize workshops, meetings, or focus groups to gather their feedback and incorporate their insights. This involvement fosters a sense of ownership and reduces resistance.

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4 Mitigate Concerns

To mitigate stakeholder concerns, develop a risk management plan that outlines potential scenarios and corresponding actions. This plan should address both short-term and long-term risks, with clear steps for monitoring market feedback and adjusting the positioning as needed. By having a structured approach to risk mitigation, stakeholders can feel assured that you're prepared to handle any challenges that may arise.

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Marilia Manfrin

Marketing Manager | Global Brand Lead | Strategy | Innovation | Branding | Mentor | Tarsila’s Mother
Report contribution
No plano de gerenciamento de riscos, devem ser incluidos também as respostas diante das situações que possam acontecer. Como a empresa se manisfestará diante de problemáticas? Cada estratégia, cada lançamento é uma aposta da empresa! Uma aposta que muito estudada e elaborada por especialistas que reduzem ese risco. Mas mesmo assim, é uma aposta. Mostrar preparação, organização, e estar ciente de que problemas acontecerão, deixa as coisas mais tranquilas para o aprendizado e ajuste de rota.

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S.Huei F.

🎯 Multilingual Chartered Marketer in Tech | 🚀 Scaling Regional Growth with Agile Innovation | 🤖 Next-Gen AI & SaaS Integration | ✍🏻️ Cutting-Edge Marketing Insights & Tech Trends |
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Diving into Scenario Analysis through tools like Monte Carlo simulations in Excel, and utilizing Sentiment Analysis with MonkeyLearn for real-time market feedback, transformed our risk management narrative. In an instance, Monte Carlo projections highlighted a potential downturn scenario we hadn't fully appreciated, allowing us to fortify our reserves. Concurrently, MonkeyLearn’s sentiment analysis on social media caught a shift in consumer mood early, enabling a swift strategy pivot that preserved our brand’s market position. These tech-savvy moves not only reassured stakeholders of our resilience but also demonstrated our proactive stance in safeguarding the brand's future.

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5 Provide Assurance

Providing assurance means demonstrating your commitment to the product's success and the well-being of the company. Share past successes and lessons learned from previous positioning efforts to illustrate your expertise and capability in navigating market changes. Offer regular updates on the product's performance and any adjustments made in response to market feedback, which will reassure stakeholders that their concerns are being taken seriously.

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6 Plan for Feedback

Finally, plan for continuous feedback from stakeholders throughout the product positioning process. Establish regular check-ins to discuss progress, market reactions, and any necessary pivots. This ongoing dialogue ensures that stakeholders remain informed and involved, reducing the likelihood of surprise or resistance to changes. It also provides an opportunity for you to address any new concerns promptly, maintaining a positive and proactive relationship with all stakeholders involved.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You're refining your product positioning. How do you address stakeholder concerns about potential risks?

1

2

3

4

5

6

7

1 Understand Risks

2 Communicate Clearly

3 Involve Stakeholders

4 Mitigate Concerns

5 Provide Assurance

6 Plan for Feedback

7 Here’s what else to consider

Product Marketing

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You're refining your product positioning. How do you address stakeholder concerns about potential risks?

1

2

3

4

5

6

7

1 Understand Risks

2 Communicate Clearly

3 Involve Stakeholders

4 Mitigate Concerns

5 Provide Assurance

6 Plan for Feedback

7 Here’s what else to consider

Product Marketing

Rate this article

Thanks for your feedback

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