In a typical new brand development process, the role of the launch strategy is to maximize the odds of profitably achieving acceptance in the target market
Companies know that strong brands are and have been historically associated with accelerated revenue growth and increased returns to shareholders.
That is why each time most of the organisations focus their strategies on building strong brands as they represent competitive advantage and they are a key success factor in creating value to the customer as well as value to the company.
Today I am breaking down the five-phase of a successful brand launch strategy that generates demand, and drives loyalty from day one. This strategy is used by lots of successful brands.
Step 1: Polling Phase
Each and every company out there dreams to make their brand among the best ones in the market but only a few of them are able to do so. One of the prime reasons behind this is poor marketing.
Online polls or surveys are among the best marketing strategies that companies mostly use.
This is because-
- Through such polls, the companies can engage a large amount of audience and can take advantage of it before launching a new product /brand.
- With the help of online surveys or polling, any company or business can easily understand the market’s requirements as well as the needs which can affect the overall buying decision of the customers before official launching.
Step 2: Pre Launch Phase
Below, I’m going to share a checklist of items that you should consider-
- Carefully create a plan and analyze your potential audience
- Create an explainer landing page or website
- Give out freebies to create hype around the launch
- Host a giveaway
- Connect with industry influencers
- Share behind-the-scenes images on various social media sites
- Email your people.
- Write blog posts that announce your brand or product or service. Share enthusiasm, be personable and create exclusivity
Step 3: Pre-Promotion Phase
One of the best ways to build hype is hosting a pre-launch private event. You can offer exclusive discounts or promotions during the event.
Run paid advertisement using Google Ads or Facebook Ads. I recommend using Facebook Ads for such a campaign because it allows detailed interest-based targeting.
Contact media houses. It is important for increasing your brand awareness and helping your public relations.
Step 4: Launch Phase
Let everyone know you have launched your brand!
Showcase your launch across all social media like Facebook, Twitter, LinkedIn, Instagram, etc. Also, share videos, live streaming, and photos to build hype around it.
The more you can find people discussing your brand, both at the launch event and on social media, the better it’s going to perform.
Step 5: Post-Launch Phase
The post-launch phase is designed for you to do two things-
- The first thing you need to do is deliver amazing customer support and eliminate buyer’s remorse. This will help you to survive in this competitive market.
- The second purpose of the post-launch phase is to down-sell those people who don’t buy. For example, if you have a high ticket product, everybody is not going to be able to afford it and for those people that are not in a position to buy it YET, you can offer a lower tear price alternative. This will help you to maximize your revenue.
Final Words:
Successful launches require extensive planning, collaboration and precise execution. According to professor Clayton Christensen of Harvard Business School, more than 30,000 new consumer products are launched annually, and among them 95% of fail.
If you have the patience and dedicated team to set up a strong and effective launch process that will beat the competition and make a splash in the market, you will succeed.
Developing your customized, repeatable launch strategy takes multiple trials and a large team. Because the tactics that work for other companies may not necessarily work for you.
So, if you need a detailed launch strategy customized for your own brand, you can contact the best brand strategy & digital marketing company in Chennai. It is one of the best digital marketing company in Chennai.
How do you plan brand launches? Are there other ways to create hype around your brand? Let us know in the comments section below!