What do you do if your medical sales product launch fails?

Analyze the strategy by speaking and listening to the representatives. This should have been an ongoing project from day one and prior. Managers should have been in the field and provided feedback on what is working and what is not. Ask for fedback from customers - what, why etc. Reevaluate the strategy or garner the resources needed. You need information and compare that to the analysis prior to launch. Were we wrong? did we execute wrong? Execute in messagibng and teraining the field. A great deal of work needs to be done as you can see.

If a medical sales launch fails, it's crucial to conduct a thorough post-mortem analysis. Identify root causes, whether it's product issues, market misalignment, or messaging flaws. Engage key stakeholders to understand perspectives and gather insights. Based on findings, pivot strategy as needed, whether refining product positioning, adjusting target markets, or enhancing sales training. Implement corrective measures swiftly, leveraging lessons learned to inform future launches. Maintain transparency with stakeholders and communicate revised plans confidently. Remember, failure is an opportunity for growth and course correction, leading to eventual success. Use resources for analysis and market research for future launch

Need a thorough analysis if primary and secondary data. Whether available data resonates with actual on the ground findings. Identify gaps and measures to fill the gap. Brainstorm newer ideas and filter to the best one, motivate the team and don't let their moral down. Rework on market and customer segmentation .

What I have found most helpful as step one, is analyzing the failure itself to help pinpoint the problem more and see if anything was successful. For example, if the failure is financial but it still resonates with customers and the sales reps are engaged (good pipeline) - perhaps we would need to wait a little longer for the sale cycles to complete?

Analysis should be an ongoing project. Conducting a marketing audit on a quarterly basis helps identify key factors that could influence the failure of a product launch, enabling timely adjustments and strategic realignments.

Revisiting your drawing board is always a good move when your previous strategy is not working. One step back, give a pause and bring outside in prospective to reshape your actions. Doing more & more what you are doing already will not work. Expert opinion from external consultant is always handy to revise the strategy.

Losing a round is not failure. Take the time to revise your strategy and try again. Patience pays and winning is a perspective not an objective.

Reassess the Market dynamic . Many at time our plan to launch new product remains unsuccessful. Tje major fault lines lies in assesing market elements and having a bookish strategy. Market dynamics changes so frequently that even the experinced one may have lacking to touch newer aspects. So be with market and having the plan may work.

Edison failed 1,000 times. Failing the first round or two is not the end of the world. Try again and don't give up. Analyze where the failure came from, find solutions, and restrategize.

Back to the basics and revisit the original plan and address the gaps if any, take the help of your team, seniors or your well wishers. It will works really.

Retrain the team need a special focus if there’s defect in whole team or in strategy implementation Or we need to special train for certain team members

If a product launch fails, it's essential to analyze what went wrong. Gather feedback from customers, colleagues, and stakeholders to identify areas for improvement. Then, refine strategy, messaging, or product features accordingly. Additionally, regroup with your team to learn from the experience and plan a revised approach for future launches.