Creating a new product category in a crowded market: Part 2

With so many options in the HR tech market, standing out can be a daunting task, especially when your technology doesn't fit neatly into an existing category. But it’s clear that while building a new product category in HR tech or work tech is challenging, it can be also a strategic move that can lead to market leadership if done well.

Listen in to part 2 of our conversation with Sam Kuhnle, Vice President of Marketing at HR tech company, Loxo. In this episode, we continue to dig into how the Loxo team made the decision to create a new product category, what their experience has been and why they’ve committed to a long-term marketing strategy to achieve their vision of big growth. 

(00:01:05) - Having a long-term mindset when declaring a new product category
(00:01:59) - Loxo's strong product-market fit and the challenge of building awareness in a crowded market 
(00:05:46) - The shift from lead generation to demand generation 
(00:06:31)  - The impact of changing buyer behaviors on marketing costs and sales cycles 
(00:10:32)  - The time frame for seeing results and indicators of progress
(00:14:16)  - Aligning sales and marketing efforts to drive revenue and foster trust with prospects
(00:17:00) - Evaluating if creating a new product category is the right move 

The Demand Gen Fix is hosted by Deanna Shimota, CEO of GrowthMode Marketing. Listen to our team of marketing experts and featured guests drop knowledge on how HR tech companies can maximize the success of their marketing for today’s B2B prospects. Learn more at www.growthmodemarketing.com.