Question

Topic: Strategy

New Product Launch Strategy

Posted by Anonymous on 4/27/2009 at 12:27 PM ET 250 Points
We are an international consulting and information services company in the global paper and pulp industry. (www.fisheri.com) Although we currently have the most advanced analytical tools and comprehensive data within the above mentioned segment, we have very little visibility do to the shadow of a much larger industry player with a MUCH better marketing strategy and budget.

We are on the brink of launching a new product that directly competes with their current "News" offering. They are the current "go-to" source for all industry news, but we are hoping that an additional component to our product (that they cannot compete with) will allow us to capture market share. This is a huge opportunity for us but I need help with putting together a product launch strategy. I currently have not been able to find anything helpful online during my initial research (templates, campaign strategies, etc.). Suggestions on how to optimize this launch, or ideas on how to get more visibility in this market will be greatly appreciated!
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RESPONSES

  • Posted on 4/27/2009 at 12:45 PM Member
    I just took a look at your web page. Though I have not any experience in your kind of business I did notice that in your client list you have 19 important companies. I also noticed that you have not had any event since 2007. I do not know how competitive is the industry but not having had any event or participating in any event for almost 3 year now might affect your business "share of mind" among clients and prospects. At any rate, I would suggest using your list of contacts in those clients and use a good new media agency PR agency to help you develop mobile and twitter communications. In addition prepare "combos" pricing your services with special discounts in these critical economy. Hope this helps. Though I am not working for any PR company if I was you I would take a look at the page of, David Meerman Scott a New Media PR specialist. Hope this helps.
  • Posted on 4/27/2009 at 2:03 PM Member
    Can you provide some more information on the following?

    1. What is the mix between companies you already do business with or who know you, and the companies that you are trying to break in with? This will help determine where your money should be spent.

    2. Who in the target company are you trying to reach? What is their title usually?

    3. Can you provide more information about the product itself? Different products need different strategies - advertising, pr, virtual demonstrations, in-person presentations, etc.

    4. Who is the competitor you mention, and what do you feel they are doing better than you right now?

    5. How complex is your value proposition? After looking through your site, a lot of the copy is pretty nebulous. For a product launch, the typical "we help you with solutions targeted at blahblahblah" will fail miserably. How clearly and, more importantly, specifically can you get my attention if I'm your target market?

    6. What kind of budget do you have?

    7. What kind of field agents do you have available that can support the launch?

    I know that's a lot, but the more info you can provide, the better feedback you'll get.
  • Posted by Jay Hamilton-Roth on 4/28/2009 at 8:50 AM Accepted
    Invite some well-known clients to trial your new offering in exchange for creating case studies around their use/benefit from the tool. This will create a win-win: you'll get additional input, testimonials, and explain clearly how other companies can benefit.
  • Posted on 4/28/2009 at 11:35 AM Member
    I agree with previous posters that you should work with an outside firm for not only the launch but to get your message reworked. The launch represents a hefty investment of time and money, not to mention the future of the company. Spending a little now will make sure that everything from this point forward works.
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