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.

 

2. BUILD YOUR BRAND

Ok, so your product tastes great. You’re good to go. Stop! Your brand can make or break the success of your business. Partner with a creative team that really understands you, and your product. From your logo, through to packaging design and advertising creative, consumers will need to be drawn to your product and desire it, if you’re going to outsell the competition.
 

3. STORY TIME

Talk about your new product to anyone you can, and develop a compelling narrative which makes your listener want to find out more. One of my favourite brand stories was from a client who discovered a wonder product in the US, and realised a dream of bringing it to market in the UK as the demand for functional drinks with added healthbenefits boomed, as did her business. Ensure that you’re armed with responses for both buyers and media alike to establish a strong brand messaging that resonates with your desired audience.
 

4. KEEP CURIOUS

Fingers crossed, at this point you’re selling like hotcakes! However, don’t rest on your laurels. Keep a keen eye on your competitive set, and developments from across your category. Continue to keep an on-going dialogue with your customers and end users, gathering feedback and thoughts on where you could take the product next – from a new flavour combination to packaging format, so your product proposition evolves and your profits grow!
 

 

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