WHY YOUR MARKETING LAUNCHES ARE FAILING 👎
Updated: May 4
The first aspect of a project launch is making sure the project is market ready. This includes organizing analysis on design, usability, functionality, and problems the project may have.
Before we create a launch with our clients we always ask what insights have they've gotten from the previous testing in the market?
When you launch, you are attempting to disrupt & alter reality.
However, according to Harvard business school professor Clayton Christensen, every year more than 30,000 new consumer products are launched and 80% of them fail.
That means 24,000 of them weren't successful, leaving reality untouched.
New products go un-purchased, nonprofits fall short of its goals & government programs never reach the people it was meant to help.
One of the elements a lot of companies make is in testing customer behavior and misreading consumer groups.
What your brand believes customers want and what customers ACTUALLY want can end up being two completely different things which can seriously hinder the success of project launch.
Changing failing launches requires completely altering the thought process behind a project launch to avoid the typical doomsday results.
We think of it like this: we’re looking to conquer human nature.
In order to do this, we first start by halting overestimating the odds of success.
Then we rationally weigh out gains, losses, and probabilities. For example, when the true odds of success at 15% and you think it’s 50%.
With our clients, we start by asking for the data so we can pinpoint actual numerical values on launch failure rates for their company industry and comparative industries who have similar projects to theirs.
For example, one of our cosmetics client wanted to partner with us to organize an influencer marketing campaign. We asked for their previous success rates which weren’t what they were hoping for.
This was a cumulation of their failure to realize that partnering with one micro-celebrity influencer once every 2 months was not enough to drive a significant return based on the fact that they are working with a million other brands so they can make money as an influencer.
By learning more about their previous failures we were able to properly account them to achieve better results and exposure.
The point of gathering the data is to look at the obstacles that were faced in the past to make better decisions.
Our method of successful launches is imagining the failure in advance and provide explanations of what happened. One very important question we as ourselves when imagining a launch catastrophe is - Why did we fail? -
Then we begin to list out the possible reasons and provide counteractions to those mistakes before they happen. We section the list off by industry, demographics, internal client information, the market, and design.
To do this, we gather different job roles within our agency team to send off creative and differentiated perspectives.
Demand creators are what we become as we are prepping clients for the marketing portion of their launch.
During and after the launch, continued customer conversation and redesign in marketing strategies is an imperative part of the process as well.
When your organization is ready for the marketing launch how do you go about ensuring success? Leave your answer in the comments below.
If you’re struggling to answer this question, let us help you out. Download this freebie that helps you identify the potential failures within your launch so that you are completely ready for implementation for the launch.