Today’s topic is new product launch. Joining us is Andy Wright, Executive Vice President of New Product Development at Cypress Semiconductor.
Cypress Semiconductor is the number one manufacturer of memory used in electronics. Chances are that the device you are using to read this article right now is powered by Cypress. Andy is responsible for corporate wide design and driving P&L for all design activity worldwide.
Andy and Greg discuss how to conduct a successful product launch. A product launch hinges on being able to tell stories that compel your customers to act by answering the key question, “Why change?”.
Product launches fail to generate revenue when sales people and channel partners are not involved in messaging development during pre-launch preparations. When messaging is developed in isolation it is not compelling enough to get your customers to act. Stories told directly to customers by well-trained sales channels enable customers and prospects to answer “Why change?,” and this stimulates latent demand while leading to exceptional revenue growth.
Download our 10th annual workbook, How to Make Your Number in 2017. Turn to the product strategy section and review the Product Launch and Messaging guidance on page 143 of the PDF.
Listen to Andy explains how his team works to identify launch risks early on. He controls launch risk by rapidly sequential phase gating. As each phase gate he evaluates whether he goes through the rest of the R&D phases.
During the interview, Andy answers these questions:
- How should you determine your new product launch goals?
- How do you ready the entire organization for the launch?
- Where does sales enablement live, and who should own it?
- How should you measure success or failure of a new product launch?
If you need more help with your product launch strategy, download our 10th annual workbook, How to Make Your Number in 2017. To request a workshop with a product launch expert simply sign up for a MySBI account and check the box in your preferences to request a workshop.