It’s exciting when your company comes up with a new product or service. But it may not be as easy to get customers or prospects to share that enthusiasm and buy.
Here’s a four-step strategy for more successful new product sales:
1. Avoid the features spiel. With new products or services, salespeople often get fixated on the features and veer away from the benefits prospects really care about. It’s usually a better approach to concentrate on what the product or service will do for them.
2. Double-check the targets. Salespeople frequently target their biggest customers first when introducing a new product or service. But often the high-volume customers aren’t looking to change, so they may not value the product as much. Tip: Consider starting with smaller customers or a balanced mix of them to hone presentations and get more traction.
3. Quantify the benefits. We all know that customers are more likely to buy when they know exactly what the new product is worth to them. Try to put some hard numbers around the key benefits, like “boosts productivity by 10%,” to enhance credibility.
4. Prepare for battle. It’s a good idea to pretend you’re a competitor and map out how you’d sell against this product. Examining the launch from that perspective may help point out the strengths and weaknesses in the offer.
Source: “Pack a Punch With Your New Product,” www.peerspectives.org
