Are you covering the bases with your industrial marketing new product launch?
When you introduce a new product or service to the market, you need to approach it as a separate campaign from your ongoing activities. Here are several items to consider in an industrial marketing new product launch:
Branding for an industrial marketing new product launch
While your company (and thereby products or services) has a brand, you also need to think about the new product or service. First, does it have a name? To make a splash with a new product, you need to identify it. Whether it’s an addition to a current line or a new direction, the name goes a long way to let the market know what it is and why they should care. Once you have the name, ask yourself if it lends itself to having its own logo. If the product/service is distinctly different from your current ones, a logo can help attract more market attention. Likewise, the messages promoting it will help position it in the market and highlight its unique advantages. Also, remember to carry any specific brand into the design of the product and its packaging.
Often a successful product launch starts with a teaser campaign. A teaser campaign uses awareness and lead generation channels to provide hints or “teases” of the new product or service.This campaign creates curiosity and anticipation about the product. Because of the build-up, potential customers are excited to discuss, share or buy the product or service. The components of the campaign could include multiple advertising channels, including e-mail, social media, and direct mail. Typically, an industrial marketing new product launch teaser campaign is 1-6 months.
Once the teaser campaign is done, you can begin the launch campaign. More than likely, it will utilize the same channels as your regular program. However, don’t let what you’ve done in the past stop you from exploring other options. For example, you might not run print and online advertisements, attend trade shows or send out press releases. But an industrial marketing new product launch could benefit from employing those channels to build awareness in target markets.
Most importantly, you need to realize that prospects or even your current customers won’t know about this addition to your service or product line. Consequently, you need to tell them. And you need to tell them often over the course of the first year to establish the new product.
Not only will existing and potential customers need to be educated on the new product, so will any dealers you work with. While they might not be direct employees, they are salespeople for your company. Dealers need to undergo training in the operation, benefits, and pricing. Depending on your launch budget, consider equipping them with posters, giveaways, or point-of-purchase displays to promote the new product.
Current marketing and new material
Finally, you need to be sure your sales material is updated to include the new product or service. In addition to brochures, catalogs, and product sheets, your website will need attention. Add the new service or product to the appropriate areas in the navigation and pages. If the new service or product is unique, your past offerings, new material, and its own website could be necessary.
After the initial industrial marketing new product launch, it will be part of your regular marketing program. However, its success will largely depend on how good of a launch it had.
About the Author
Paul Kowalski (or Pappy as he is called around the office) spent over two decades working at other agencies before opening Conach Marketing Group in 2008. The early part of his career was working with Fortune 500 clients at different agencies. However, working with smaller clients was his preference. This choice was because of the impact on a client’s business growth and forming closer, personal relationships.
When he was creating Conach, his goal was to bring those Fortune 500 strategies along with years of B2B marketing experience to small business marketing clients. As a result of focusing on business-to-business marketing, Conach specializes in construction marketing, financial marketing, and industrial marketing. Even though we are in Mid-Michigan, Conach provides marketing services to clients across the country.