Author Archives: Ken Smith

Selling Innovation: The Data (chapter 6)

The innovation economy shifts daily. New or updated products and services change the landscape at an ever increasing rate, and occasionally a truly disruptive innovation enters the market forcing incumbents to alter plans while opening up new opportunities for the latest crop of fast followers.

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Selling Innovation: The Repeat (chapter 5)

While the most cost-effective method of customer acquisition is capturing a repeat customer, in the innovation economy that second sale is paramount. The second sale validates the marketplace, and moves you one step closer to broad market penetration. It is the catalyst to moving from selling to early adopters to selling to a larger, mass market.

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Selling Innovation: The Pitch (chapter 3)

Once you have designed a great product or service and determined the most effective path for taking it to market, selling your innovation will require creating a message that communicates the value proposition to prospective buyers. Because both consumer and corporate buyers are far more sophisticated today with access to multiple sources of information - from product reviews to competitive pricing - your pitch can not be one-dimensional. You must blend a simple, easily grasped and remembered tag line with feature-function lists, competitive product comparisons, and not a small measure of excitement.

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Selling Innovation: The Path (chapter 2)

Once you have designed your core product, service or solution, it’s time to plan the optimal path to market. Traditional go-to-market strategies are a good foundation from which to build a path to market for your innovation. But in the innovation economy the exact path or paths to success may not be knowable at the outset. Successful Selling Innovation requires constant listening, adapting, and refining plans as new data emerge - in current lexicon it's called pivoting.

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Selling YOUR Innovation

The most important measure of a successful commercial innovation is revenue traction. Operation’s requires it and VCs & Angels often demand it before engaging. Yet many innovators’ efforts end at the point of marketing. Completing the revenue capture process with a solid sales strategy is essential.

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