You Invented a Great New Product. Now, How Do You Sell It?

Thomas Steenburgh

Michael Ahearne

<article-ideainbrief class="article-ideainbrief">
 <h4 class="ideainbrief-title">Idea in Brief</h4>
 <div class="ideainbrief-contents">
  <h5>The Problem</h5>
  <p>Instead of training salespeople to understand and overcome the obstacles inherent in selling completely new products, most companies overrely on product demonstrations. Thus sales teams often struggle to close deals.</p>
  <h5>The Research</h5>
  <p>Studies show that customers are often enthusiastic about new products early in the selling cycle but become resistant later. Studies also show that salespeople who take the long view and have a learning mindset are better prepared to handle the frustrations inherent in the longer process.</p>
  <h5>The Solution</h5>
  <p>Train salespeople on process, not a product’s bells and whistles. Create a psychological profile of the ideal buyer. Assess salespeople for resilience and grit. Use strategic account management.</p>
 </div>
</article-ideainbrief><p>When we talk with companies about the biggest challenges they face in growing revenues, we hear a consistent complaint: Senior leaders have great confidence in their ability to develop innovations but not in their ability to commercialize them. Our research suggests that this gap results from a lack of formal processes and effective talent-management strategies. It’s a big problem, because it limits the return companies reap from their R&amp;D spending. To put it simply, companies that have invested millions to dream up new-to-the-world innovations need to become more adept at selling them to customers.</p>

XTWvHBPGf6WQHkK12ImHNA2U3QlAT4XBuPKRmkTLkJ8qCXaYxko72Kv9vRhenO+CNpJYRM17Rv+zuuCuVni3rNCW0L+gpdiRlngvXKJZEHXDSBmWqvvFDHakZ4OE9l+P

<p>Senior leaders have great confidence in their ability to develop innovations, say the authors, but not in their ability to commercialize them. This may result from a lack of formal processes and effective talent-management strategies. Steenburgh and Ahearne suggest a new approach: Assess the skills of your salespeople systematically. Train them for knowledge and resilience rather than focusing on a product&#8217;s bells and whistles. Create a psychological profile of the ideal buyer. And assign strategic account managers to your most important customers.</p>
<p>When new products are launched, the authors write, the best companies are strategically aligned, from the sales force to the C-suite. HR creates competency maps and works with sales managers to establish training and coaching programs. Frontline sales managers support the learning process that their reps go through in the field. And top leaders make sure that pressure to meet earnings targets doesn&#8217;t stand in the way of future growth.</p>

How to Sell New Products

Senior leaders have great confidence in their ability to develop innovations, say the authors, but not in their ability to commercialize them. This may result from a lack of formal processes and effective talent-management strategies. Steenburgh and Ahearne suggest a new approach: Assess the skills of your salespeople systematically. Train them for knowledge and resilience rather than focusing on a product’s bells and whistles. Create a psychological profile of the ideal buyer. And assign strategic account managers to your most important customers. When new products are launched, the authors write, the best companies are strategically aligned, from the sales force to the C-suite. HR creates competency maps and works with sales managers to establish training and coaching programs. Frontline sales managers support the learning process that their reps go through in the field. And top leaders make sure that pressure to meet earnings targets doesn’t stand in the way of future growth.

How to Sell New Products

Summary.

Partner Center