Cross-dressing for success
THE ACADEMY OF BUSINESS STRATEGY
MARKETING COMMUNICATIONS BLOG
Cross-dressing for success
AUTHOR
Matthew Francis (CBS) MBA LLB MCIPR
Introduction
There is a lot of work that needs to go into launching a new product for your business. Whether it be one that complements others that you already produce or it is something that might seem completely diverse, there is a lot of work to be done. The most important is to get the message out to your external stakeholders that your new product is arriving. Contrary to popular belief however, this does not have to be a budget breaking exercise.
This article will look at a range of ways that you can let the world know about your new product or line, weeks or months before it even arrives. This will mean that by the time it does, it really does ‘hit the ground running’ and your profits will be sky high. So, what is the secret to all of this? Absolutely nothing! I will outline here, 5 key ways that you can make sure that the often stressful period running up to a new product release is as smooth as possible, at a price that your chief accountant will be smiling at too! Throughout the article I will be referring to some of the world’s most successful companies who have themselves leveraged some of these techniques.
An Essential Strategy For Success
Strategy 1: Communicate The Benefits
This does not mean stating all the product or service features. Oh no! The impression should not be given that this is just another way for you to get your customers to part with more money. But they will, if you can communicate how the new product or service can ADD VALUE to their life. Consumers are not actually influenced solely by price, so don’t be afraid of keeping the sales price high. This is proved by the number of BMW cars that are on the road. However, the message that you will be driving ‘The Ultimate Driving Machine’ is the real value that the customer will get. So be creative. Communicate your product’s value.
Strategy 2: Adopt a Multi-Communications Policy.
So, you have decided the value or values that your new product adds to the life of your customers. Now let’s tell them about it! It’s not enough just to display it on your corporate website. The consumer needs to be immersed in the value added that they will get if they purchase the new product. The way to ensure of this is to use a multiple channel approach to your marketing communications. Try out different ideas. Each week, try out 2 different marketing ideas. See which ones work best and then drop the ones that don’t. Try some direct email marketing, make phone calls and talk to some of your current customer base, even think of entering a joint venture with another company that can enhance your product.
Strategy 3: eMarketing – Don’t Be Afraid To Inform!
Obviously you don’t want to be bombarding your valued customer base with email after email. However, a structured approach to eMarketing can prove to be hugely successful if done the right way. The key here is the let your customers know about your next product subtly. Keeping in touch by email is a key way to do this. Just make sure that in each email you send, you are not trying to sell them something. Again, your target may be to make money and make money alone, but the most successful entrepreneurs have been those that truly want to make a difference to the lives of their consumers. Adding Value to your customers lives is the key here. So don’t be afraid to send emails, perhaps twice a month, giving something back to them in the form of information or something fun for them to read. If you do this, by the time you actually send them the email letting them know about your new product, they will already be on your side. Nokia for example have already convinced the consumer that they are ‘Connecting People’ before they even release their next product to the market.
Strategy 4: Public Relations. The Free Jewel In The Crown
Don’t underestimate the power of Public Relations. This is an area of business marketing communications that is often overlooked by even large organisations. The point is, if you can create a story, then there will be journalists who will grab hold and run with it. The key here is originality. Think of ways that attention could be drawn to your new product or service, even without you having to parade it in front of your potential consumers. A great success story in this area is Sir Richard Branson, head of the global Virgin Empire. When Virgin launched their wedding stores, Virgin Bride, Sir Richard stunned the world by appearing in front of the cameras dressed as a bride himself! Some thought it a bit silly, but that’s it! Silly attracts journalists because it’s different. Different gets stories. Stories get publicity. And publicity, well that gets customers!
Strategy 5: Bringing It All Together
There are many other ways that messages can be communicated to the market and some of them are even more innovative and crazy than a man dressing as a bride. The most important thing with any communications strategy is to ensure that it is all brought together into a coherent Plan of Action. As a leading expert in the area of public relations states:
‘Companies don’t need to spend millions getting their new products to the market. Just get a plan together and then strategically inform their potential consumers that they can add value to their lives. The rest will fall into place.’ (Robert Grant of Fusion-PRo)
Conclusion
The point is, when you are thinking of launching a new product or service, don’t be afraid to do things differently. Adopt a innovative and creative approach to your marketing communications and most of all, lose your inhibitions and do something a bit silly!
ABOUT THE AUTHOR
Matthew Francis (CBS) MBA LLB MCIPR is an approved Certified Business Specialist (CBS) with the Academy of Business Strategy and his specialist subject is marketing communications. He has achieved an MBA from Cass Business School, an LPC from Exeter University and an LLB from London University. He has also achieved a MCIPR from the Chartered Institute of Public Relations. He initially qualified as a Lawyer before being employed as a Management and Operations Consultant for a variety of different companies and has experience within the oil and gas, telecommunications, consulting and financial service industries. A selection of his clients or employers have included Areva Mining, Credit-Suisse, Mars, Ernst and Young and RJ Reynolds. He has geographical working experience in Russia, Kazakhstan, The Ukraine and The US and he speaks English, Russian and French. His service skills incorporate international public relations management, marketing communications, project management and business process transformation. To contact Matthew Francis, please contact the Academy of Business Strategy by forwarding an email.
