Research shows that performance in a new product’s first year is a strong predictor of long-term results. Therefore, maximizing the success of new product launches is critical. Yet even with a superior product profile and marketing strategy, commercialization success may be mitigated by ineffective planning. Many organizations do not realize their high expectations for product launches.
Our experience working with clients has uncovered several common barriers to effective launch execution:
- Inconsistent planning across functional areas – some groups are less organized than others
- Lack of appropriate cross-functional communication – departments tend to operate in silos and do not have insight into the needs and timelines of their peers
- Limited institutional experience – the organization launches new products infrequently or has suffered personnel turnover since previous launches, losing valuable expertise
- Inefficient or ineffective resource allocation – resources are not appropriately matched to needs, usually resulting in under-resourcing
- Insufficient resources to effectively plan for the launch – team members are focused on execution and the issues of the day and do not have the capacity to think about the future
ZS has helped its clients address a variety of challenges related to new product commercialization, from high-level questions to very detailed needs, such as:
- What is the critical path of key milestones and decision points related to a commercialization?
- What is the most efficient way to plan organizational expansion and commercial investment?
- What are the critical activities, either within just marketing or sales or across the broader organization, to launch a new product?
- How can the launch plan be managed effectively to maximize the success of the outcome?
- How can the organization develop the internal capability (e.g., processes, tools, people) to launch new products more effectively and efficiently?
Organizations often develop launch plans that end up just sitting on the shelf, as they quickly become out-dated. ZS Associates’ flexible commercialization planning solution engages the client organization in the process of creating the launch plan and enables the development of a plan that will be institutionalized and embraced by the organization. For nearly 30 years, ZS has helped clients launch hundreds of products, through a solid understanding of the key drivers and barriers for successful launches. Our expertise across marketing, sales, and operations assures a systematic approach to helping you plan for and execute the most effective process.
With ZS, you can gain:
- An integrated, cross-functional view of the key milestones, decision points and workstreams, with clear accountability and responsibility across functional areas
- Best practices for launch execution that will refine and validate your launch plan
- Flexibility to adapt to the various contingencies that may occur during a launch
- A launch plan that will be institutionalized with broad organizational buy-in, instead of left unused
- A partner to help you manage and execute the launch plan
- The internal capability to more effectively and efficiently launch new products yourself
We would be happy to share our experiences helping firms successfully launch new products, and how we can help you maximize the success of your upcoming launches through best-in-class planning and execution.