One of the hardest things for startups or even established companies is positioning and selling a new set of services, products or solutions. We have had numerous companies from a range of sectors, some decades old and others brand new, look to launch a series of products and services. In many cases, it is really like launching a new business every time.
Paths to market whether they be channel or direct need to be developed, a value proposition has to be created, marketing materials need to be generated and internal teams mobilized to support the sales and marketing efforts. There is a misconception among many firms that it will be easier and require less investment and time to be successful with an initiative such as this. In some cases this is true, but for most it is not the reality they face. We have seen many firms not put in the required investment or give themselves enough runway to really get the proverbial “flywheel” spinning. As with anything new, it always takes twice as long and costs twice as much to get rolling.
Here are a few tips for selling when launching a new product, service or solution, that is not your core business.
Your Direction and Message May Change Multiple Times
In many cases, it takes a series of iterations to get the target market and message right. Be nimble with your efforts and make changes that will help you close faster.
Be Patient
Give yourself enough runway to get the ball rolling from a sales standpoint. Often times, for B2B solutions, this is 6 to 18 months. You need to commit to the incubation from a sales and marketing standpoint to seed the market, farm it and then reap the rewards.
Be Methodical
Apply a plan to get your solution to market and follow up, pivoting and changing direction where needed. Remember to invest consistently in it.
Look For Pilot or Reference Customers
If you can leverage existing customers to try your new solution, do it. Success stories sell. Be aggressive on price if you need to; it will pay you back handsomely later on. A lot of customers don’t want to be the “first” to try a new solution, so you may have to provide incentives to them.
Develop a Sales and Marketing Plan and Related Supporting Materials to Assist the Sales Efforts
Get a plan in place, then execute on it. This sort of thing can’t be done in someone’s spare time. Dedicate resources and then get to “doing”. Be sure your value proposition and messaging includes both quantitative and qualitative components, numbers help sell.
Have an Online Presence
Whether this be a new website or simply a page on your existing site, it needs to be there. The first place buyers look for information is the web. Tied to this should be some sort of content marketing program to position yourself in the market to build awareness and mindshare, drive search engine optimization and ultimately support the sales efforts. Utilize social media to support your sales efforts. Identify the best platforms to use such as Linkedin, Twitter or ComLinked to help assist you with the go to market efforts.
If you are looking for a source of excellent sales and marketing information, please feel free to sign up for our newsletter or follow us on Twitter.