By
Penny Young
How
do you launch a brand or product? PENNY YOUNG looks at the variety
of ways in which you can create a launch to suit your product
and to maximise marketing.
Successfully
building your product or packaging your services are essential
ingredients for business success. However, that is not where it
all ends. Just because you build a new, improved or newly available
product does not mean people will know about it, buy it, or even
know why they should.
This is why
you need to communicate clearly, effectively and consistently
to your potential target market. The first step in a successful
launch is communicating what your product does. A new product
has both the advantage and disadvantage of being new. No one else
may have a similar product, but potential buyers may not clearly
understand the benefits of the product. Consider carefully the
following questions:
* What
does your product or service do for the prospective customer?
* What makes you special or unique?
* What is the message you want to get across to your prospective
customers?
* Is it a single product or product line?
You may need
to produce product information sheets, brochures or other marketing
literature to help educate potential buyers. Take care to explain
the product or service using benefits, not features, and point
out any key differentiating factors with regard to competition.
The
Message
All
new brands, be they products, services or a combination of the
two, require a larger marketing communication boost in the short
term to establish awareness. Without awareness, people will not
be enticed to buy, and the last thing you want is your product
to just sit on the shelf, assuming it even gets that far. Launching
a new brand involves using a number of marketing communications
tools, from advertising to sales and internet marketing. Here
are some key issues that you should consider well in advance:
* New
Product: Where a new invention is being launched, not only
do you have the challenge of educating your target market about
the existence of your offering; you also need to educate them
about use of the product and reasons why they should consider
purchase. From a launch point of view, the focus would usually
be on public relations and perhaps some form of publicity event.
A launch function would be mandatory for a new invention as a
place for the product to be displayed and demonstrated to both
its target market and the media.
* New
Version or Release: New releases or versions of existing products
may be launched via advertising, PR and direct marketing. However,
they would not usually involve a specific launch function unless
they are a highly complex product requiring detailed demonstration.
* Consumer:
The launch of a new consumer brand, due to the relatively large
size of its target market, would typically comprise advertising
to the mass market, perhaps some form of launch function (i.e.,
a cocktail function or stage presentation) with the media invited,
sales promotions at the retail level and within the channel to
secure appropriate shelf space. New product acceptance is likely
to be easier with an established brand or company name behind
it and you should leverage off this position where possible.
* Business-to-Business:
The launch of a new product and/or brand in the business-to-business
world usually focuses more on personal selling, direct marketing
and a launch event (i.e., a sit-down or buffet meal, presentation
and demonstrations) attended by existing VIP customers and prospective
customers and the media. Product launch functions are particularly
important where business networking and relationship management
are crucial. Typically the launch campaign would be on a smaller
and more personal scale than that designed for the consumer market,
as the target market is more limited. Business-to-business launches
may also centre on an exhibition, conference or seminar where
there is the opportunity to display and demonstrate the product.
Major
Benefits
Consider
the following opportunities that a launch can bring:
* Focus: Holding a product launch event allows a specific
focus on the new brand versus focus on the rest of your product
range or on competing products. It provides a clear platform for
the new brand to be introduced and reduces the clutter surrounding
the message.
* Special
Event: A launch event provides the opportunity to invite customers,
potential customers and media to a special event, to treat them
to something exclusive.
* Sales
Opportunity: Launch functions are a great place to take orders
in advance for new products, as the focus is specifically on the
product and the people attending have signalled their interest
in the product. Depending on the type of product or service you
are marketing and the level of attendee, direct-selling may or
may not be appropriate.
* Media
Opportunity: A launch function provides the opportunity to
get the media's undivided attention and for senior spokespersons
to have access to a variety of media representatives. It enables
you to demonstrate the product, discuss possible angles and it
is newsworthy because it is a new product launch.
* Demonstration:
Like exhibitions and seminars, a formal launch function provides
a central place and captive audience to perform product demonstrations.
Prospects can handle, test drive, or even take home samples of
your new product.
Making
It Work
Making your product dazzle and stand out from the crowd is one
issue, ensuring effectiveness in communicating brand benefits
to the target market is another. Before you start, think about
what the overall marketing objectives are for your brand. What
are the communication objectives that a launch will help you achieve?
Consider the following questions before you begin:
* What
do you want your launch to achieve? Increase awareness? Provide
product or service information? Sell product? Or something else?
* Do your
competitors utilise launch campaigns? If so, analyse their
methods, as you would a competitor's advertisement.
* Who
are you targeting? New or existing customers, or someone else?
* What
are your financial, time and technical constraints?
* What
information would your target market find useful to receive as
part of the launch campaign?
* Will
you be managing, designing and implementing the launch using internal
or external resources, or both?
* Will
your launch be tied in with a conference, trade show or other
industry event?
* Are
you doing simultaneous national launches, a combined regional
launch, or specific country or city launch?
* Most importantly,
who will be handling inquires from your launch campaign?
Marketing
Tools
The following marketing tools should be assessed to determine
how they can help meet your overall product or brand launch goals.
Advertising
* Use
it to create general awareness.
* Reach
new and existing customers and prospects.
* Develop product literature and information sheets outlining
benefits to your target market.
Personal
Selling
* Utilise sales to give more detailed information, especially
for complex or high ticket items.
* Approach existing customers using personal relationships.
* Provide a mechanism for prospective customers to buy.
* Utilise outbound telemarketing to enhance the sales effort.
Direct
Marketing
* Provide detailed product information to a wider market.
* Reinforce advertising and personal selling messages.
* Direct invitations to your target market to attend the launch
event.
* Provide an alternative mechanism for customers to buy.
Web Marketing
* Educate potential clients by providing detailed product information.
* Provide 24-hour access to your business and product information.
* Reinforce advertising and personal selling messages.
* Provide an invitation mechanism.
* Provide a mechanism for customers to buy.
Exhibitions
and Seminars
* Additional educational opportunities provided by a tight forum
of interest.
* Provides wide attendance for lead and prospect generation.
* Can gain additional media attention.
Public
Relations
* Create wider awareness.
* Build credibility through possible third party endorsement of
your products and services. * Reinforce advertising, personal
selling, internet marketing and direct marketing messages.
Promotions
* Utilise sales promotions to generate trial of product.
* Promotions
can assist in pushing your product on to the shelf or through
the distribution channel.
* Promotions can be used to get introductory offers and samples
to the market.
* Penny Young is the director of Creative Thinking Marketing,
a Sydney-based business that helps small and medium-sized businesses
stretch their marketing dollars further.
For more
information, or to sign up for The Creative Thinker free monthly
e-zine, go to www.creative-thinking.com.au
