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A Stitch in Time
Saves Nine
This page addresses my high-level guidelines and a preliminary process for a supplier to build cost-effective communications and publicity - especially when launching a new online product / service.
The challenge in building buyer interest in a new product, and communicating its perceived benefits, is often made difficult if the product is not as unique as its designers first believed, or if it’s not competitively priced. Ideally a feasibility analysis was undertaken early in the process, but here are a few sometimes overlooked points to consider:-
- Initial demand and potential sales will not happen if an ambitious new market entrant develops a technology-push solution to a ‘problem’ that has not yet been actually verified and measured.
- There may not be a sufficient gap in the current market for the new product, and the realistic potential demand (if untested) may not be substantial or sustainable.
Hence, some of the preliminary steps before promoting and launching a product are:-
- Estimating (and maybe researching) the realistic demand-supply market situation
- Preparing a SWOT analysis to ensure nothing important has being overlooked
- Preparing a contingency plan (or back-up scenario) in case modifications are needed
- Performing a market trial to get user feedback and to test quality and back-end systems
- Identifying the typical decision making process that buyers will undertake
- Identifying the communications pattern of target segments and early adopters
After the above inputs are available to management, a robust Marketing Plan should be developed (and agreed upon) followed by a detailed Communications Plan that includes timelines and a budget for expenditure.
Thereafter, a communications practitioner will be able to suggest an action program to launch the product that can build awareness, interest, and ultimately sales. That action plan should be broad and include online digital channels, social media, traditional broadcast media, newsletters, publicity, events & seminars, user guides, podcasts, alliance partnerships, and sponsorship ideas etc.
Cliff Howard
enquiries@falconwriting.com.au
