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As a marketing firm, we are regularly involved in supporting new product and service launches. Launching a new product or service is no easy process. It requires development of a marketing strategy and resources to put that strategy into action building momentum and interest over time.
In all cases, it is important to look for the low hanging fruit or the opportunities to leverage and maximise efficiencies in order to drive reach and take up as quickly as possible.
In the past six months we have worked on two new product launches both to the aged services sector. In each instance we seek to develop a best practice approach ensuring marketing planning to define the most effective routes to market and closely consider customer needs.
Our advice is to consider these important factors in approaching the launch of new products or services and supporting marketing activities.
- Work out what your key messages are and repeat, repeat, repeat! To prepare effective messaging you need to understand your competition, how your product or service differs and how these points are compelling or meaningful to your audience. And while the way you express these key messages may differ, the underlying meaning should remain the same supporting recognition and calls to action.
- Consider closely your target customers to understand the profile of your primary audience. The target market identifies the particular group of customers you want to sell your products or services to. It defines your focus and where you direct your marketing efforts. The clearer your focus, the more efficient and relevant your marketing approach will be. Don’t try and be all things to all people. Make it clear what your point of difference is and hang your hat on that.
Meeting consumer need in aged care means recognising that the 65 years + age group is just as diverse as any other part of the population. A study led by KPMG with the goal to help the aged care sector see the diversity of needs found that segmentation by age is not useful. Rather behaviour, physical and social function and socioeconomic factors play a significant role in how customers make decisions.
- Ensure you have an impactful brand identity to support your profile and positioning. Working on one of our launches, although some work had been undertaken to develop the logo and other branded materials, we recommended they be further updated. This is because we felt it important to ensure these brand materials resonated with the target audience. Having an impactful brand identity with well-considered visuals is very important to create stand out and build a reputation that customers remember, identify with, come back to, and, most importantly, trust.
- In today’s fragmented world, it can be hard to make yourself heard and build credibility among the crowd of promotional messages. Paradoxically, with the accessibility of digital platforms it is easy to communicate and, yet, create little meaningful cut through. It’s important to understand which are the most direct channels to reach your audience and how your budget can best be deployed to provide greatest bang for buck and optimisation. Don’t get caught up in promotional activities that cannot be effectively leveraged. Work out how to garner the attention of your audience and wherever possible, capitalise on existing strengths and relationships. Develop an integrated approach to your marketing communications activities. This will enable you to leverage or optimise activities across different channels and distribution points creating efficiencies and accelerating promotional aims.
- Finally agree a realistic budget and understand what marketing can deliver and how it can be integrated with your sales efforts.
Edmonds Marketing is a strategic marketing consultancy based in Brisbane. We have long standing experience of marketing within the retirement and aged services industry. As well as assisting with promoting products or services, we undertake market research, and develop marketing and brand communications strategies.
For further information on how we can assist your organisation to deliver effective marketing, contact Sophy on firstname.lastname@example.org or call us on 07 3175 9905.
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