Extreme market research drives new product development at FileBound

With tight budgets and uncertain short term economic forecasts, technology buyers are using more discretion than ever in their purchase decisions.  Any new solutions they acquire need to deliver a quick ROI and provide organizational scalability to address additional business as the economy recovers without adding additional costs.

At FileBound, we understood this new paradigm and knew that our future product development needed to account for it. We decided to launch a new market research effort to uncover where the greatest needs in our market space where, how big they were, and what the ideal solutions might look like, as defined as those that the economic buyer would be willing to spend budget dollars on.

Our efforts included interviews with our channel partners, direct marketing campaigns to test solution concepts with our target audience, focus groups, and direct conversations with target prospects. The result was validated data on specific challenges within the group, the perceived size and cost of them, and good sense of what they would be willing to spend to fix them.

With this research data in hand we set out to build a solution that addressed the most significant challenge at a price that would make sense to them.  The result of this process will be unveiled April 12th at the 2010 FileBound VAR Conference in Las Vegas. Be sure to stay tuned for more information on this exciting new launch, and visit www.filebound.com to learn more after the 12th.

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