We spent a year developing a new product and have spent £250,000 on the launch which doesn’t seem to have worked.
The launch involved adverts, flyers to existing customers and the sales people taking information to existing customers. Sales have been decreasing for some time and the new product was thought to be the answer. The new product was developed by the design team with feedback from customers. When it was trialled at an exhibition it seemed to generate positive feedback.
It’s six months’ since the launch and none of the existing customers are buying the new product. The sales team keep promising orders in the pipeline. Myself and the board feel that the launch has failed, perhaps adverts were not the way to go and PR would have been more useful. We want to organise a re-launch and have a budget to go ahead. How would you approach a re-launch? We’re in manufacturing and sales take place via sales people.
The first thing we would do is to press the pause and rewind buttons.
The customers are giving you a message; you need to talk to them. Why are they not buying? I know what the sales team are suggesting, but frankly I’m not sure that turkeys vote for Christmas.
You personally need to pick up the phone and speak to some customers that you’ve had no contact with for some time. Ask them why they haven’t bought the new product from you? What’s happening and what do they think of the sales team.
Save the launch money for something else.
Do keep us posted.