The development of new products provides your company with additional opportunities to generate revenue, so you need to get those new products to market as quickly as possible. But if your new product is more than just an updated version of your current line, you’ll need to tackle some potentially significant sales challenges to turn those new products into new profits.
Make sure you have a productive, engaged sales force.
Your inhouse sales team will face an increased workload, but they may already be working at peak capacity. That means you’ll need more help.
Make sure your sales force has the necessary knowledge of and experience in your new market(s).
Often, new products are aimed at entirely new markets – different geographical areas or industries with which your current personnel may not be familiar. But to make rapid new market inroads, you need contacts and established relationships that you can call on right away. You need to identify the most promising initial and secondary targets to start filling your sales pipeline, and a practical lead-generation plan to keep the process moving forward.
If you don’t have enough sales people, or they don’t have the right expertise, you’ll need more help. But hiring and training take precious time.
A winning new product launch involves more than making sales calls. You need the right sales strategy.
Success requires a comprehensive sales strategy. You need persuasive messages and the right delivery methods, compelling collateral, maybe even some special events to create maximum awareness and interest.
If you don’t have a clear overall strategy, though, you’re not ready to introduce your new product. Partering with a sales advisory firm can help turn sales challenges into sales success, which is why it has become such a popular business management tool. Through this partnership, you can get expert advice and augment your existing sales team with highly-qualified professionals knowledgeable about your products and markets, for a single project or long-term support. That means you can minimize lag time between product readiness and market exposure.