When 65% of new product launches fail, at a cost of billions of dollars, companies need to change the way they communicate new products to the sales force and to customers.
Brainshark recently sponsored a Sales Management Association webinar where Professor Michael Ahearne, University of Houston and Associate Professor, Thomas Steenburgh, University of Virginia, shared the results of new research that explored why conventional approaches to selling new, innovative products are ineffective and how you can change the sales and marketing process to ensure a successful launch.
New product launches are challenging for sales leaders. New products compete with existing offerings for the sales organization’s mind share and effort; especially when it comes to innovative new products, since they inherently require training, updated messaging, and customer education.
Their research suggests that the more innovative the product, the less time salespeople spend selling it, as counterintuitive as that may be. In addition, when salespeople do focus on new products during their interactions with customers, they talk rather than listen.
To explore the results of this original new research, view the webinar replay.
Paula Crerar, Sr. Director of Content & Product Marketing at Brainshark, wrapped up the webinar with a discussion of how marketers could help provide engaging content to support new product launches. Creating content for each customer persona, providing the sales force with questions to start the conversation, the importance of providing live and on-demand training and measuring results were topics Paula covered.