Our Infographic Reveals Top 5 Secret Ingredients for a Successful Product Launch
Today, we have published a new infographic which reveals five secret ingredients for a successful product launch in 2015.
Based on round table discussions amongst branding experts and selected consultants, the five secret ingredients are our predictions, directives and suggestions for making noise and carving out a niche when launching a new product this year. The roadmap to a successful launch includes ideas for both start-ups and established firms, with practical and no-nonsense strategies that can be implemented at each stage of the product launch process.
“Even products that are lucky enough to be in the position of ‘eagerly awaited’ can fail,” advises David Micklewright, Managing Partner, BrandRefinery US. “In fact, Forbes estimates that as much of 95% of new product launches fall flat, with no one including the big name brands immune. Not every product will be a success of course but, there are several key things that should be considered when planning a launch. 2015 looks set to be an exciting year for businesses with the start-up culture sizzling in the UK and USA in particular. Our new infographic is designed as a route suggestion rather than a concrete plan – secret ingredients that can add new layers and textures to a launch and help all the hard work put in behind the scenes come to fruition.”
BrandRefinery Top 5 Secret Ingredients
It might sound obvious but timing is everything when it comes to a new product launch. Sometimes this is counter intuitive. A summer product such as a new tent could well launch in spring for example rather than the middle of August. But, other items especially those with higher price points or luxury goods such as champagne should avoid months where events like tax returns and budgets are due to be delivered, as these tend to coincide with belts being tightened.
Social media is a buzz word and it seems every brand, business and concept in the world has its own Twitter or Facebook page. But it takes time to win over influencers. You need to begin early and put in the leg work to get a social media momentum. Which leads to…
Don’t be afraid to ask bloggers and opinion formers to collaborate as you’re developing the project. Involve them, seek feedback and user comment. You can turn this into influence later down the line, when those who have collaborated have a vested interest in promoting their own involvement and contribution.
The buzz may be all about Facebook and Twitter but Instagram is where it’s at when it comes to engaged consumers. Because it is a very visual medium, Instagram is an ideal platform for product promotion. It edges out Pinterest because it’s much easier to seek out the newer information and fresher posts on Instagram, adding immediacy.
Websites can be expensive and if your product launch is being conducted on a tight budget, a platform such as Shopify can remove the tech headaches and high development costs. It’s a simple way to set up shop online, comes complete with reporting and analytical tools and is robust enough to develop with you as your product matures.
To find out more and for additional product launch best practise, visit the BrandRefinery website.
Incorporated in 2007, BrandRefinery UK provides marketing and product launch consultancy services to assist individuals and companies who are bringing products or services to market. Initially established in New York, BrandRefinery UK has evolved to provide specialised product development, promotion and launch consultancy services to individuals and companies.