Product Launch – Promotional Efficiency
When approx. 75% of product launches fail, what are the causes that even technically sophisticated products are not successful in the market?
How to achieve an efficient promotion at the product launch?
Handy message with tangible value proposition
Good market knowledge makes it possible to simply derive tangible arguments for product benefit. However, this must now be converted into a handy and striking advertising message in a language that is understandable to the target group. It is important that the entire life cycle during product usage is considered and that the arguments focus on the touch points of the respective target group within the customer journey.
Appropriate, target group-oriented media
When a new product is not known in its target group, it cannot be sold. To gain awareness of a new product, the advertising message must reach the target group by a suitable advertising medium. And of course, the respective target group must actually use the medium in a sufficient manner.
It makes sense to plan the AIDA funnel in advance in order to assess the suitability of different marketing measures and to monitor the effectiveness of the measures later.
All marketing measures cost money and require personnel resources. In the selection process of different marketing measure two important criterions are the reachability of the sales revenue and the capability and the resource of the sales staff.
Online advertisement has significantly pushed back print media. Dialogue marketing in the form of e-mail advertising and keyword display has prevailed instead of expensive advertising in trade magazines. Automated link advertising campaigns with subject-specific areas on the own website or on areas in social media allows different response processes for the ad hoc follow-up for the interested visitors.
Staggered product launch
Focused in-depth marketing or wide sower principle? → Both marketing principles are yours.
Companies tend to euphorically launch new products with a simultaneous global rollout, so that higher sales revenues at an early stage compensate the cost of product development to get into the profitability of the product life cycle as quickly as possible. However, this carries the great danger that the "Big Bang" will become a "Grande Flop".
Experience has shown that staggered launches significantly reduce the risk of market failure and offer the charming opportunity to test sensitive topics in pilot markets (pricing, positioning, tricky marketing measures) and, if necessary, make slight adjustments. This in-depth promotion allows focus of resources at the beginning of the market launch on manageable regions and customers. The experience gained from the pilot markets will then enable an efficient rollout of the overall market and thus a rapid increase in sales. Furthermore, the successful projects of the pilot markets motivate their own sales team as well as new customers.
I hope I could arouse your interest in structured product launches. I appreciate your comments or contact me directly for more details.