How to make sure that your new product sells!
When it comes to launching new products, we’re experts. We’re particularly good with industrial products and we helped businesses of all sizes launch new innovations that have gone on to win awards and generate an incremental amount of revenue – we’re not called The Product Marketing Company for nothing!
First things first, when a customer approaches us with a new product that they’d like to take to market, we have a clear process for not only getting it out there, but for making the right kind of noise so that the right people hear all about it.
If you’re thinking about launching a new product any time soon, the best place to start is to ask yourself a series of generic questions that will enable you to understand the benefits of the product from the user’s perspective and ultimately shape your messaging to appeal to your target market.
You know your product well, but sometimes that can cause you to overlook essential things that your customers need and want to know, which is precisely why these questions are so useful.
Whenever we take on this task, we find it easier to break our questions down into 6 key areas;
- What need has led to the development of the product?
- What customer research was carried out?
- Have you trialled a prototype?
- Who are your customers?
- Where are your customers?
- How will the product solve their need or problem?
- How is this need or problem being resolved at the moment?
- What are the key features of the product?
Are the features unique?
- Are the features also the product’s USP?
How do the features or USP’s compare to your competitor products?
- What are the primary benefits to customers?
- What will they gain? i.e. space, time, increased safety etc.
- How will it improve productivity?
- Is there any data to prove the benefits?
- Who will the product benefit most?
- Where can the product be used?
- What is your price point?
- How does this compare with the competition?
- Are you running a promotion?
- Are you readily equipped with innovative sales tools to convey all of the features and benefits of the product in engaging ways that people will remember?
All of these things will help you to communicate your latest innovation to your target market, with impact and to bring in those all important sales. For help with all stages of your product launch why not give us a call, after all you only have one chance to GET IT RIGHT!