Anybody who has ever been in sales or marketing will tell you that the success of a product is partly down to the quality of the product, partly due to the readiness of the market and very much down to the way that the product is marketed and presented. A quality product in a market that is ready for it can still fail if it fails to catch the public’s imagination. It is a fact of business that products don’t sell themselves. They need to be amplified to the public, they need to have their story told and it needs to be done smartly and cost effectively – especially if it is a new product that is being launched. So how do you go about taking a new product to market? Here are a few tips to help ensure that your product doesn’t crash and burn.
Find the right partners
From the outset, you need to recognise that you cannot do everything by yourself. If you are a sales and marketing guru, then maybe this is something that you want to tackle. Just remember that you are already running a company and that you will likely have your hands full with the operational and personnel side of the business. From a marketing perspective, you will almost certainly be best off identifying a good creative branding agency Sydney certainly has plenty to choose from. Spell out your goals and objectives and let them take it from there.
Incentivise your salespeople
An incentivized sales force is one that will focus hard on selling. Remember though that while competition is good, it is only good up to a point. You don’t want to create a winner takes all situation where one sales person wins big, but the others miss out entirely. If that is the case, you may well end up with a situation where one person sells big, but the others get demotivated and drop off the pace. Make sure that your people win each time they sell.
Live the brand
As the company owner or leader, you need to live the brand. There should be absolutely no doubt that you are a believer and user of whatever product it is that you are selling. If that is a message that you are able to convey from the top, then it will permeate the culture of the business and that belief will be seen and believed by potential business clients. Be particularly aware of the fact that if there are competitors in the marketplace that you are not caught using their product or endorsing it in any way.
When entering the market, you need to make sure that your price points are right. You get one chance to make a first impression and you need to make it count. If you are selling a premium brand you need to make sure that you convey that message through the pricing. But you also need to ensure that you don’t price yourself out of the market or end up with potential clients not getting to sample the product because they cannot afford it. Be aggressive and use your pricing model to send a message.