The Challenging Odds for New Products
The first year of a new product is crucial to the success of its entire life cycle. However, Harvard Business School professor Clayton Christensen, says more than 30,000 new products are launched every year, and 95 percent of them FAIL. And of those 5 percent that survive year one, only 11 percent of a new product’s customers remain engaged, according to data leader Catalina. With more noise and clutter than ever, these odds require breakthrough strategy and integration for successful product launches. How will your next product launch be in the five percent that succeed?
Are you looking to launch a new product this year? Do you have the right partners involved to ensure your product is successful? While many companies plan for product launches within their own teams, internal employees may miss the opportunity to look at outside influences that can impact a product’s first year success. It’s often called “internal bias” or “tunnel vision,” and it can be lethal to new products.
At CLUTCH, we use our experiences on countless product launches as both clients and service providers to bring a comprehensive approach to the process and the market you’re trying to penetrate. Our go-to-market experts can help you identify the best ways to gain alignment and traction internally and in the marketplace and properly position products to be long-term solutions for your customers.
Ensuring success with new products can be complicated. Contact us to find out more how our integrated approach consistently brings business acumen and creative thinking to product launches to create results.
CLUTCH is a hybrid consultancy and agency focused on helping B2B businesses find and realize their peak potential. As business acceleration experts, everything the firm does is designed to drive the growth of revenue and opportunity. The firm combines a mix of strategic consulting, marketing communications and lead generation, and learning and development services to consistently produce business results for clients.
For more information visit clutchperformance.com.