Too often, new offers fail to meet their growth targets either because the strategy was not planned early enough or the initiative was underfunded. The high price associated with developing new products necessitates the need for a deliberate approach with the correct focus, tools, and talent.
Purpose:
When pursuing growth strategies, B2B companies often opt to develop new offers (products, services, solutions) to sell to current customer-base. Unfortunately, companies often fail to shift the selling motion – which might include new messaging, new buyers, and/or new accounts. By exerting a focused effort with an analytical understanding of the customer, unique messaging, and enablement of sales personnel, companies can overcome this growth challenge.
Benefits: By applying our principles, you can:
- Add greater value to customers and increase customer spend more quickly
- Properly evaluate your new offer and the market receptivity
- Grow revenue and margin without completing acquisitions
- Reinforce your organization’s ability to innovate
Critical Success Factors:
Introducing a new offer to your current marketplace requires you to adjust your segmentation strategy. The process entails the following stages:
- Acquire reputable accounts that differentiate you and have the potential to grow
- Tailor the messaging and the offer to the account
- Reach critical mass by enabling your team
Tools:
Executive Mindset, True Solutions SM, Idea SellingSM
