Product introductions can be nerve-wracking, even in the best of times. Everything needs to be in place, everyone must be on message, new shirts and hats and trinkets must be ordered, press conferences must be scheduled: the whole nine yards. Then, the day arrives! The time has come to prepare for incoming orders!
But what if the phone stays silent and the internet traffic idles? Days following the introduction go by… nothing. Followed further by nada.
All that work and effort has amounted to a big, fat 0.
Can you turn around poor product introduction? Come back from the dead with more vigor and life than ever?
It can be done, because I help clients do it. They go from crushing defeat to startling victory in the space of a few months, all because of our proprietary system that helps companies turn things around, and even better, get and stay on the right track.
In the specific case I am thinking about, the client had a differentiated customer value proposition for their product, but they didn’t articulate it well enough in their product introduction. The result was market interest that didn’t convert to orders.
To help this client, we used our proprietary Empathic Method to do three things:
1) Identified the needs and best customer fit
2) Identified the value proposition that converted prospects into customers
3) Delivered that value proposition in a way that resonated with the best prospects
The results were nothing less than staggering; the client took our advice and ran with it. The next product launch was filled with specific messages designed to create a clear, compelling customer value – one unlike anything else in the market at that time.
The result: the client was inundated with orders. Products were flying off the shelves, triggering a rapid expansion of the product line.
I can’t say what percent increase the business achieved, because what’s a multiple of $0? But I can say that management went from despair to giddiness when things turned around, all because they had worked with me to find out a few customer truths that changed their business.
If you’d like to see how to best communicate your market position, give us a call. We’ve got the industry experience and the research expertise to get you answers and insight.
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