Nielsen recently announced a new statistic: 85% of new products fail in the marketplace. This startling number should get all of us thinking.
We all want to be successful, and we get paid to build successful brands. What is your leadership doing to prevent being part of the 85% that fail? The million dollar question is “Why do they fail?”. There are many factors that determine the success or failure of a product, but the main and most important factor is EXECUTION. The best product in the world will fail if it does not achieve proper distribution, visibility and promotion at the right accounts.
This is where GreatVines comes into play. We help companies execute with excellence. What are you doing to build a relevant, long-term product?
Historically, the use of tools has been interpreted as a sign of intelligence, and it has been theorized that tool use may have stimulated certain aspects of the human evolution, including the expansion of our brains. Are you using tools to further leverage your resources? Do you have the right tools in place? Are you taking advantage of current, leading technology? Are you expanding your brain? Or better yet, are you creating an institutional memory for your organization?
There are a lot of questions to consider, and companies that do not do a proper assessment of how to stay ahead of the curve risk being just another statistic.