TOP TIPS FOR A SUCCESSFUL PRODUCT LAUNCH
Wander down the aisles of your local supermarket, and it’s likely you’ll be faced with a barrage of new products and emerging brands, each vying for share of your wallet and a spot in your basket. Here at The Hub, there’s nothing we love more than seeing our clients’ latest innovations fly off the shelves. From product development and consumer testing, to creating engaging advertising and effective awareness campaigns, bringing a new product to market can be one of your brand's most news-generating moments, if you follow these golden rules for success!
1. QUESTION EVERYTHING!
Carry out a thorough S.W.O.T of the market before you even consider going into production! Here’s just a few of the questions you should be asking yourself...
Why this product? What insight or information do you have that there’s a hunger (or thirst!) for your latest offering? Is there a gap in the market? Or is there already an oversaturation of your chosen product? If that’s the case, what makes your innovation better than the competition?
Who is your shopper? By understanding your target audience you’ll be able to create a targeted awareness strategy and develop messaging that appeals to the wants and needs of your identified demographic.
When is the best time to launch? Most importantly, get to know the buying cycles of your key customers, so you’re pitching your product at the right time to secure that much coveted shelf-space.