Innovation

Commercialisation – The Risky Road to Market

Drum roll please ….your product is ready, the sales reps are raring to go, marketing is about to push the button… so what could go wrong? Sadly more than we'd like to think about.

After years in development and millions of dollars investment products still crash and burn after launch. This can happen even if they are technically superior to the competition or more convenient to use or cheaper.

Customers, Influencers & Channels

Working across industries we see a lot of great ideas and technologies fail not because the user didn't like or want the product. Very often the customer is not the user and they may not want to pay for the product. Or a key influencer or channel won't support it because they personally lose revenue if the product succeeds. And then again, many companies just target the wrong group of potential customers or just can't get their value proposition right. All of these mistakes are avoidable.

For more on commercialisation
and building hype click here

 

Trial, Adoption & Loyalty

Creating the hype that builds awareness and interest in your new product is an important first step to achieving adoption. But adoption and loyalty depend on so much more than hype. Once the product is in the customer's hands it must speak for itself. It needs live up to expectations and then some more.

And of course, moving the relationship from the trial phase to adoption and hopefully loyalty will require ongoing dialogue and attention. Don't assume because they tried it, that they'll ever buy it again.

All of these distinct phases need to be managed for success with ongoing monitoring and contingency planning to keep commercialisation on track.