New Product...So Now What?? 4 Keys For Leaders To Deliver Your New Product To Market Like a Pro

From the infancy of the Industrial Revolution through to the new international age of technology and social media, business leaders, and specifically sales leaders have pined for new product offerings like a four year-old kid on Christmas morning, sprinting down the stairs to rip the wrapping paper from the gifts under the tree.?Unfortunately, the resultant actions of this hastened execution can sometimes feel like a “Ready – Fire – Aim” implementation process.?This eagerness, often sacrifices preparation, efficiency, and in many cases will cause reputational damage to the leadership as a whole.?

It’s not THAT you bring a hot new product to market….it’s HOW you do it.?Speed matters, but as leaders of an organization or sales staff, your team member’s level of anxiety and stress is significantly reduced by the assumption (hopefully the accurate assumption) that their leader is thinking 10 moves ahead; knowing that the decisions, vision and strategy have been planned in advance in an intentional manner in such a way that looks out for THEIR best interest.?As leaders, we tend to have the best of intentions for our staff and in our strategies.?Sometimes we deliver quite well.?Other times we drop the ball.

Having a clearly defined process to be your guide as a leader for delivery of a new product to market is the key to success.?Here are four steps to position you as a leader for successful reputation management, AND successful new product delivery:

1. ?PROSPECTING – How will we market this product and to whom??Identifying your target market through a combination of market demographic research, and propensity to buy modeling is a great place to start.?Look for those most likely to embrace your product, and build a plan to contact them.?You’ll need to know the best times to contact (morning, evening, weekend), the best contact method (phone, text, email, social media, or face to face approach), and the key conversion ratios to produce your desired sales volume outcomes given your known closing ratios.?Building a plan, with the key verbiage in advance, combined with stated volume targets will guide your team’s effort metrics and become the ultimate predictor of your end results.
2. PROCESS – How will sales staff present this new product to potential client, and with what tools??Make certain that your staff has a clear and executable plan of attack.?Be clear on the process by which the team will present and deliver the product to market.?You’ll need to first begin with the WHY.?Purpose overall drives action.?Educate your team on the nature of the problem they are solving for consumers through this product.?Focus on the PROBLEM you are solving, not the PRODUCT you are offering in this step.?When you focus solely on product, I.e. features and benefits, you make yourself small…captive to the preconceptions a consumer might have about your product.?When you focus on the problem your product solves, you make yourself larger than life, as the means by which negative consequences can be avoided, and virtuous outcomes might be achieved.?In this step review the presentation materials needed, the key verbiage to both present the purpose, as well as your competitive advantages overall in the marketplace versus both alternative products, and competition in a commoditized space.?If you lay out the stepping stones, with tools for your staff, they will be more confident in their sales approach.
3. PRODUCT – Knowledge and expertise of the product is key to success.?Knowledge breeds confidence!?Consumers look for a confident, knowledgeable guide in making buying decisions.?In this stage, you’ll need to dig in to the nuts and bolts…multiple times…until your team is confident in the product features.?They need to understand what makes this product truly great, and truly unique.?Product knowledge in-depth brings AUTHENTICITY to the approach.?The greater the understanding of product strengths, and competitive advantages, the greater the degree of conviction and therefore appeal.?Be sure your team has the knowledge to confidently deliver your product to market.
4. PROMOTE – What incentives will we provide to our staff, or consumers to drive engagement and volume??As we navigate the “Great Resignation” in a nearly post-pandemic world, finding ways to reward, and recognize team members is paramount.?A truly great sales incentive is one that drives decision making in the moment.?It harnesses “discretionary effort” from your staff in moments of discipline where they may, or may not put in that extra ounce of activity.?Create promotions for your product internally that inspire action in the moment.?Place the power to achieve the incentive in the hands of every staff member instead of rewarding just the top seller.?Identify metrics that are realistically achievable for team members if they are highly engaged.?If a goal is too high, or only rewards a select few, you lose the attention of the majority of your staff before you even begin.?Find opportunities for both INDIVIDUAL recognition through this promotional incentive, as well as a collective team payoff…one designed to bring people together and build culture.?Truly great promotional incentives can achieve both.??Next, look for ways to promote to your target market.?Analyze existing customers first, then Centers Of Influence, the take to social media and TELL YOUR STORY.??In a service-centric economy, you’ve got to think about what you’re giving away for free to build loyalty and connection to the market. What value-adds are you delivering??How re you finding way not just to PROMISE service, but DEMONSTRATE it.?

I believe that the best leaders play chess in business, but not with people.?They think ten moves ahead in ways that can allow them to remove obstacles from the path of their team members before they even arrive. Playing chess in business brings comfort, predictability, and sustainability to your organization.?Playing chess with people is very different, and is rooted in an air of secrecy and self-preservation.?

The four above steps will help you as a leader to build a path to prepare, train, equip and motivate your team to achieve excellent results in driving your product to market.?In doing so you’ll teach your team to trust your judgement, decision-making, and ability to look down the road on their behalf.?

Build your plan today and achieve amazing results!