Wikipedia defines innovator as “…a person or an organization who is one of the first to do something and often opens up a new area for others and achieves an innovation”. It’s a dream of every product development company to come up with a product which is first of its kind in the world. Being someone who has managed product developers for several years, I can say that engineers thrive on developing such innovative products.
So where are the challenges? The challenges are often faced by the sales teams. For the sales person, the challenge is in convincing the customers about buying something which they have not heard of. Customers, most of the times, believe that they don’t need it because they have lived without it for years.
For an innovative product, when it comes to selling, it is about selling the concept. Concept selling involves educating the customers. Here the product benefits and Unique Selling Points (USP’s) need to be used to ‘create the need’. It is about selling the benefits rather than selling the features. It’s different than established products. For established products, it’s about convincing the user in buying a product by telling how it is better than others.
Although referred as concept ‘selling’, this is one step beyond selling. Here, one needs to come up as an expert in the field and true advisor to the user. Although the end goal is to “sell” the product, it needs to go through: educating on the concept --> convincing on the benefits --> explaining the features --> describing the ROI --> and finally selling.