SAVO Poll Reveals While Product Launches on the Rise, Companies Missing Full Revenue Potential
CHICAGO, IL – July 24, 2012 – According to SAVO Group, while more than half of the companies polled (56 percent) have increased the amount of product or service announcements in the past six months, 63 percent have admitted that they only achieved 50 percent or less of the anticipated revenue associated with their launches. The results are from a live poll of 135 participants conducted during one of SAVO’s educational webinars, “Effectively Launch New Products To, And Through, Your Field.”
“While it’s encouraging to see innovation on the uptick, too many companies are missing revenue opportunities by shortchanging a crucial player – the sales person – in their launch plans,” said Dan Schleifer, senior director of marketing at SAVO. “To gain the largest return, companies not only need to ensure that new products or services fit seamlessly into their overall sales process, they also need a solution to capture their selling success to educate the rest of the sales force or make adjustments with their sales process or marketing assets.”
During the webinar, participants were asked which oversight they were most guilty of with regards to product launches. The results were as follows:
- 40 percent said poor channel education;
- 24 percent reported weak messaging;
- 21 percent indicated deficient market research; and
- 15 percent said a lack of demand generation efforts.
In addition, in another SAVO webinar of 73 attendees, 85 percent of those polled said they do not have a way to guarantee that new messaging is being used in the field.
“Even though companies put a lot of effort into making their products different, it ultimately comes down to the story sales people tell that convinces customers they need to change and do something different,” said to Tim Riesterer, chief strategy and marketing officer, Corporate Visions. “Instead of training salespeople on product features, companies need to help salespeople have better customer-focused conversations and make more effective presentations.”
SAVO will host its seventh Sales Enablement Webinar in the Mission: Possible series on August 7, 2012 titled, “The 21st-Century Sales Warrior: Delivering Sales Effectiveness For Today’s Sales Organization.” Registrants are eligible to receive a free SAVO Maturity Benchmark of their organization.
Founded in 1999, SAVO is a leading provider of sales enablement solutions. SAVO’s on-demand sales enablement platform maximizes the sales team’s ability to communicate value and differentiation in clear, consistent and compelling ways. Combining proven sales and marketing best practices with award-winning technology, SAVO addresses all aspects of the sales enablement challenge — spanning people, process, insight and technology. For more information, visit www.savogroup.com or follow us on Facebook, LinkedIn or Twitter.
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