3 Tips to Successfully Launch a New Product Every store owner knows that when you launch a new product you are going to be in for a challenge, so here are some tips to help you sell that new item. Ready… Set… Promote! The first rule of any new product sales strategy is to know the product. Because it’s new, you’ll have to list the features and ingredients. Your staff need to become an expert on every aspect of it, so you can answer your customers’ questions. If you don’t, you may lose out on the sale. 1. Create a Sales Plan Your sales plan will determine the price and marketing material placement within the restaurant. You should already have a good idea on the price of the new product. Make sure it’s in line with your competition, but don’t lose too much of your margin. The sales plan should also incorporate employee training on how to sell the new item. This will also get them excited about the new product. Think about using our SMS or Email marketing tools to help promote the launch. 2. Set Goals The general rule concerning setting sales goals is to be realistic. You can still be optimistic, but your goals need to reflect the market and the product. Make sure the goals are measurable and specific. Including your employees on these goals may drive sales higher, so find the right incentives for them to get motivated and watch those sales grow! Be sure to use our Item Sales Report in DPos and the Cloud Reporting to measure the sales. 3. Marketing You’ll need to create a marketing budget to cover the additional costs in promotions and advertising for the new product. Many of these are simple and won’t cost very much, such as updating your … Continue reading 3 Tips to Successfully Launch a New Product