The Best Sales Strategies to Drive Innovation Into the Market

Sales strategies are success factors for innovation

Selling innovation means selling a vision. This vision and the associated innovation are the first step(time machine for vision development). Then it is a matter of bringing the vision and innovation to the market with successful sales, and different sales strategies are better or worse suited to establishing new products, services and business models on the market. Of course, not all innovations are the same. What they usually have in common is that they:

• quickly in order to gain an edge over the competition
• are unknown to customers and often require explanation
• solve an important customer problem, but are usually not yet fully developed
• can achieve higher prices on the market as long as the unique position is still given

Top sales strategies for selling innovations

The following sales strategies are particularly suitable for the market launch of innovations. The most suitable sales approaches are listed first.

1. Multichannel sales (omnichannel)

This distribution strategy makes it possible to disseminate innovations via different channels simultaneously, which maximizes reach and allows different customer segments to be reached effectively.

• Strengths: Broad market penetration, adaptation to customer preferences.
• Weaknesses: Complex management and potential channel conflicts.

2. Key account management (KAM)

Particularly useful for innovations that require a high level of explanation or that could arouse strong interest in specific sectors. Intensive support helps to gain the trust and acceptance of important customers.

• Strengths: Close customer loyalty, individual customization.
• Weaknesses: Neglect of smaller customers, high dependency on a few large customers.

3. Online sales

Ideal for innovations that need to be brought to market quickly and efficiently. Online distribution offers a cost-effective way of reaching a broad target group.

• Strengths: Global reach, low costs.
• Weaknesses: Lack of personal advice, strong competition, not every target group buys online.

4. Event and trade fair sales

Effective sales strategy for innovations that require a demonstration or personal explanation. Trade fairs and events offer the opportunity to show the benefits of new products directly and obtain feedback.

• Strengths: Direct presentation, targeted approach to target groups.
• Weaknesses: High costs, limited in time.

5. Partner sales (channel sales)

Suitable for innovations that need broad market coverage quickly. Partners can use existing sales channels to quickly launch new products on the market.

• Strengths: Rapid market penetration, lower own distribution costs.
• Weaknesses: Less control, dependence on partners.

6. Inbound sales

Particularly effective sales strategy when innovations appeal to an identifiable target group that is already interested in the product. Content marketing and SEO can be used to generate targeted interest.

• Strengths: Interest-driven sales, efficient use of resources.
• Weaknesses: Long-term effect, dependence on marketing measures.

7. Customer-segmented sales

This strategy makes sense if the innovation is tailored to the specific needs of different customer groups. It enables a targeted approach.

• Strengths: Addressing specific target groups, effective allocation of resources.
• Weaknesses: Segmentation errors, limited scaling.

8. Area sales

Area sales can be effective for innovations that require a strong local presence. Particularly useful in markets where personal contact is crucial.

• Strengths: Local market penetration, personal contact.
• Weaknesses: High personnel costs, slow scaling.

9. Product-oriented sales

This sales strategy is suitable if the innovation is very complex and requires specialized knowledge. Sales employees can impart in-depth specialist knowledge.

• Strengths: In-depth product knowledge, targeted market launch.
• Weaknesses: Complex customer relationships, cost-intensive.

10. Direct sales

Direct sales can be effective when innovations require a high degree of control and direct customer contact. However, it is often more expensive and less scalable.

• Strengths: Full control, direct customer feedback.
• Weaknesses: High outlay, limited range.

Of course, the right sales strategy depends heavily on the actual innovation, the target group, the respective industry and the experience of the sales department and the company offering the product. The best approach is often a combination of several approaches and not the strict implementation of a single approach.

TOM SPIKE accompanies innovation to market success

It is only a genuine innovation when it has successfully proven itself on the market. That’s why we support companies right through to market success. This also includes suitable sales approaches for acquiring new customers, pilot customers, customer interviews and validation interviews in the early innovation phase. And in the best case scenario, the sales organization is already closely involved in the early phase of innovation development.