The finishing touch to any new product launch is implementing a sales strategy that supports success. Think about where a product can take your brand or how it can open new opportunities, then set your sales team out with targets that yield the biggest returns. Is your new SKU going to open up new venues for your sales team, like golf courses or rooftop bars? Is it something that will relate really well to a certain geography or region? Is it a seasonal that’s going to peak for seasonal events, like Oktoberfest? Your sales team should attack opportunities that make sense based on the personality of the specific product.
Prioritizing your sales efforts can seem like a daunting task, but all our panelists agree that using technology like Lilypad makes it not just possible, but practical. Through Lilypad, your team can create target lists and goals that align with your new product strategy. You should send your team after those targets, then as a management team you need to pair gap reporting with your sales execution tools to steer your team after launch and drive new product success home. By customizing your execution strategy with real, tangible data, you are giving yourself a fighting chance. From there, it’s all about ongoing reporting to deem your newest launch a success or a failure (more on that in the e-book).