Ask most sales leaders on your team, and they’ll likely tell you they aren’t always excited about new products. Who’s to blame them? New products require learning new features, benefits, audience triggers, pricing structures and more. But without a sales team’s complete support, new product introductions can fall flat when it comes time to drive them into the marketplace. All too often, internal teams are focused on the “what” in a new product and not enough about the “who” that’s behind it. And that brings me to the word “integration.”
The word “integration” is more than a buzzword at CLUTCH. When we think about new product launches, “integration” literally defines the difference between failure and success. We often see product launches that have a strong product strategy, relevant value proposition, well thought out go-to-market plan, strong marketing approach or fully “bought-in” field team. Rarely do we see product launches that are successful with all of those. Organizational silos can help generate expertise but may make it more difficult to facilitate alignment and collaboration. The lack of doing so can result in staggering actual and opportunity costs.
To successfully launch a new product, you need integration in both the development and downstream go-to-market phases. You need a combined team of hybrids, generalists and specialists, to succeed. You need a champion who will take risks, but also be a pragmatist when required to balance out the process.
New product launches aren’t easy. In fact, only 5 percent of new products are successful within the first year. If you’re looking to launch a new product soon or trying to make sure you make the most of a recent launch, some of the information in this issue of Art + Acumen can help. It may feel like an uphill climb but finding a partner who can not only help you build your team, but guide you through the process, is priceless.
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.