From the Center for Strategic Relations, a twice-monthly supplement to Applying Strategic Relations, mailed at your request

Introducing New Solutions

In this issue, you will learn how to help prospects choose your products even if they are new and unfamiliar to them. In addition, you will learn of an upcoming radio program that you can use to gain that exposure while sharing your experiences with peers.

I hope I am covering interesting aspects of business relationships that help your company create sustainable revenues. If you ever have any questions about the content provided here, just write. It is my pleasure to answer your questions.

Happy Holidays,

Justin Hitt
Consultant, Author & Speaker
https://iunctura.com/

How to Help Prospects Choose Your New Product Offering

By Justin Hitt, Strategic Relations Consultant, https://iunctura.com/

You know when you introduce a new product, better than anything on the market, and prospects do not seem to respond. Your engineers spent countless hours building the perfect solution, but no matter how hard you try prospect continue to use inefficient and out of date solutions. Using relationship skills, you can introduce a new product and have it accepted by the marketplace.

How do you get prospects to choose your new product over other solutions in the market? Here are some relationship-based strategies you can use in your own business:

  1. Build from existing customer experiences. Where does our new product continue the experiences of our existing customers? When you share positive customer experiences with prospect, you reduce their concerns about making the wrong decision. Show where these experiences will be found in your new product and convey this in your marketing.
  2. Let them try it before a commitment. How can prospects test the product for their application before they purchase? If you can let your customers use your product before they have to commit to it, you reduce another barrier of fear while increasing their familiarity with what you offer. Get your prospect to try your product for a small application, even if you only break even, but always have the larger commitment clearly defined.
  3. Get their feedback in development. What about our product could be changed to fit your application? Before you launch the product, get prospects involved in the development. You will find the more users of your product or service involved during development, the better your offer will fit their application. You will also learn about selling obstacles before you have to face them.
  4. Relate good points with a familiar product. Where the new product is similar to good points of existing products prospects are familiar? Find out what your prospect already knows about that line of product; remind them, "Common with product X, our new product Y does Z." Make sure prospects know they will still get what they want, plus...
  5. Explain why you choose to differentiate. What rational did you use to decide to be different from what is already available? For every point you differ from the products prospects are familiar, explain why you choose to be different. "We differ with X, because we used A for its B characteristics." Show the buyer that you not only match the positive benefits they want, but you paid careful attention details that make you better suited for the intended application.
  6. Describe new characteristics that identify. What about your new product makes you stand out from others in that same category? For every characteristic that uniquely identifies your product, be sure each prospect is keenly aware of its value to them. If the character is not something a prospect can see, make sure your prospect knows how to measure the level of value this new product provides. Teach the prospect how to know your product is better, even if educating the prospect makes it easier to evaluate a competitor.
  7. Provide samples and demos to influencers. How can you show influencers in a dramatic way that your product is better? Identify those individual who influence a purchasing decision, reach out to them with samples and opportunities to experience your product. Determine what they feel must be in your new product to be selected or even recommended by them. Provide the tools they need to test the options you provide.

Prospects will be more concerned about making the wrong decision than making no decision at all. In making no decision, they often choose a product they are more familiar. You can create new relationships by helping customers feel a decision for your product is a better decision, but help them come to this conclusion through their own educated process.

As with most relationship strategies, building from existing relationships let those already satisfied with the value you provide share their message with those who have not yet experienced what you offer. Do not just explain what makes your new product different, but also explain why you made specific choices to improve the results buyers achieve. Help your prospect select your new product by making it familiarly the logical choice.

© 2003 Justin Hitt, All rights reserved.
/ customer-relations | 101-strategies /

Justin Hitt gives executives tools they can use to increase profits using relationship building strategies. For real results in your business, call +1 (877) 207-3798 for a complementary 15-minute consultation.

Shameless Self Promotion:

Share Your Coaching Experiences on Upcoming Radio Program

Do you want additional exposure for your company or even yourself? Advance your business or career by being a guest on my upcoming radio program. Yes, I have the opportunity to host a radio program on business coaching, but cannot do it without you.

If you are a coach or have hired one in the past then your comments could help listeners in a way that advances your own objectives. I am looking for guests who can share their experiences about what to expect, what to avoid, and anything else that will help listeners with their coaching experiences.

This exposure can improve your career, or enhance your business. How can this program do just that? I would like to tailor the 13-week program around gaining you the maximum exposure while addressing the topic of business coaching.

You will also have the opportunity to learn how to effectively utilize management consultants, business coaches, and answer questions you have about such programs. Get the questions you want answered addressed, while learning how business relationships can improve your business.

Write me at radio-program (at) iunctura.com with your phone number and best time to call. I will call you this week to discuss your role in a program and how we can work together to create the best arrangement for all.

Perhaps you do not want to be a guest in the program, but have an opinion on what to cover in such a program--write me at the same address with your thoughts. My contribution to this program will explore the relationship with contractors, including how to use internal relationships to improve your business.

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Inside Strategic Relations is for Sales and Marketing Management who want to turn business relationships into profits. Members read past issues at https://iunctura.com/archive-newsletter

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