“If I give this new product to my current sales team to sell, it might eat away my existing business.”
We hear this a lot.
So many executives get caught up in the fear that new products will detract, or worse destroy, their existing business. It is a legitimate concern. Total or partial cannibalization can occur when a new product moves customers away from current service offerings or product lines.
That’s why we spend a lot of time helping companies to scope, position, and launch new product innovations in a way that does not mistakenly cannibalize existing revenue streams.
We call our approach the 3 Cs of Cannibalization.