Accelerating the Adoption of a New Product

Accelerating the Market Adoption of a New Product or Service Offering

High tech and low-tech companies alike can develop product or service-based innovations. The challenge is getting them adopted into the marketplace at an acceptable pace, and turning their investment into positive cash flow quickly.

Typically, engineers don’t understand why customers can’t see the brilliance of their inventions, General Managers can’t understand why the sales team can’t be more effective, Marketing needs more money for promotion and Sales wants to drop the price. The perceived barriers, reasons and excuses are many.

QMP™ has worked with both high and low-tech companies to accelerate the adoption of their innovations into the market — without resorting to dropping prices. Interestingly, client successes and turnarounds have exhibited the following common characteristics:

· A more focused market targeting, versus broadening the reach

· An increase in selling price rather than lowering the price to attract new customers

· Spending less on marketing versus more

· Looking within the existing customer base versus exploring remote markets

· Reducing product development efforts that would expand product capabilities and, instead, focusing on more market-specific solutions

· Targeting, training and rewarding the sales force versus pressuring them

The documented successes of the QMP process in accelerating the adoption on innovation include:

· Software: Gaining 1,000+ new customers in three years

· IT: Penetrating 150 hospitals in a year while increasing selling prices and the average order size

· Electronics: Growing a business 55% a year for six years straight, and achieving $80 million in revenue while maintaining price premiums

If your new product or service offering is “stuck”, call QMP to find a way to get it fired-up and growing. Call us at 503-318-2696, ... and read our paper on the subject “Accelerating the Market Adoption of an Innovation”