Dos and Don’ts of Software Commercialization
So how can you be successful in commercializing software? Here are some dos and don’ts.
- Create online, self-running demonstrations of your software with narrative voiceovers
- Create collateral that clearly differentiates your software from what is already available on the market; a feature/function matrix would be helpful
- Make an evaluation version available on a time-trial basis (under nondisclosure agreement [NDA] and/or Software Usage Agreement if necessary) to prospects
- Be prepared to support the evaluation process with additional technical resources
- Expect prospects to license the software based on its marketing brochure alone
- Misrepresent the software’s technology readiness level or make prospects erroneously think they can run the software as-is when really they will be best served by redeveloping it using their own architectures
- Forget that with software, a prospect’s decision to license often comes down to make-versus-buy (Is it cheaper to license the software than to develop it from scratch?)
Marketing software intellectual property can be a challenging task. Providing clear differentiation and trial versions of the software will help alleviate the natural skepticism inherent in this market.
–By Karen Hiser