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4 Key Insights You Need Immediately after Your Product Launches

Whether it’s a new-to-the world product, a line extension or just new and improved – every product launch needs a few quick key data points to help guide marketing strategy and give upper management an understanding of how it is performing.  We believe that, among others, there are 4 key insights and questions that can be answered and which should be read immediately upon launch…

1)  Source of Awareness

How did consumers become aware of your launch?  Was it your TV advertising, Word of Mouth (including social media) or an in-store flyer/coupon?  This key understanding helps to determine reach but also depth of your marketing communications strategy.  Did the media you believed would drive awareness really perform?  It’s also critical to understand the impact social media might be having

It’s also critical to understand what social media impact might be having (from positive buzz on Facebook to negative blogs posted on Mom sites) and take necessary actions immediately.

2)  Reasons for Purchase

Why are consumers initially purchasing your product?  Is it parent brand recognition/affinity or just because they had a coupon?  This is an important step to understand what might drive triers back to re-purchase or even to get aware non-triers to give it a go.  If your initial strategy is promotion heavy, how will this impact future repeat in the months ahead?  Tapping into the reasons behind their initial purchase can help inform future marketing activities and communication strategies.

3)  Product Experience Feedback

So how did they like it?  What could be improved?  Sometimes launches are quickly pushed in-market… and there might be a period of reformulation or re-strategizing for the brand team during post-launch months.  Taking into account early feedback from consumers should be the foundation for future improvements – to both the product itself as well as brand strategy.

4)  (Re)Purchase Intent

Are triers going to buy your product again?  How often?  Why/why not?  This can help with future forecasting as well addressing key issues early to ensure stronger sales go-forward.

It seems like every marketer needs information about their product launch yesterday.  These key insights can be quickly and efficiently gathered among ACTUAL PURCHASERS or TRIERS of your new product via our BAR (Behavior Activated Research) solution.  This approach capitalizes on our partnership with Catalina Marketing and Adheris Health (formerly Catalina Health) to deliver survey invitations to consumers (and patients) who actually buy your product, or even your competitor’s.  Contact us today to learn more about this innovative approach to research!

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