- by Rory Ramsden
In this wired world, the long-term product marketing strategy has been replaced by one that adapts and changes as opportunities are identified. Products go from beta to 1.0 to 2.0 and on an on in quick succession. The product life cycle is counted in months not years.
Each iteration requires a new product launch
“Launch and Forget” brands today, such as Marlboro, are rarer than hen’s teeth. To succeed in the long-term, you first have to succeed in the short-term. And to succeed in the short term you have to do 3 things
- Know the demographics of your market but focus more on what makes them tick – their psychographics –
Your prospects live their lives constantly on the lookout for new opportunities to improve their existence. They search for solutions to their problems, ways to avoid unwanted situations, ways to develop, improve, and advance themselves and their circumstances and chances to have fun and enjoy life with their loved ones
This is nothing new. Since the dawn of time, we humans have been on the look-out for anything that will make our lives easier and more comfortable whilst expending the minimum effort achieving the maximum bang for our buck
- Keep a constant watch on your competition
Doing so means that you should never be forced to play catch up. By running a constantly evolving SWAT analysis on a monthly basis you will probably be the first to pick up new developments in their marketing strategy. And because you also know where they came from, you can anticipate their ultimate destination. You can also identify their weak points and position yourself accordingly
- Know your own competitive Advantages
There are strengths and values that you bring to the market place that are unique to you. Identify these. Build them into your products and services. Create an overwhelming offer that is innovative and therefore disrupts the status quo and you will have transformed a toolbox into a weapons system and gained an ‘unfair advantage‘
Start by doing a TWAS – Threats, Weaknesses, Advantages and Strengths – analysis
Having a good grasp of these will allow you to differentiate your business and your offerings from those of your competitors whom I’m sure you will find are more similar than different.
That’s why we put together the Launch Systems Toolbox – download the LSTB here for free if you have not already done so – which gives you the six essential steps to quickly an easily get your product and your business ready to withstand the stresses and strains of a full product launch.
90% of product launches are ‘bottle rockets’ rather than intercontinental ballistics missiles. The big day arrives and is a crushing disappointment. Sales are slow. Your affiliates and JV partners are not mailing for you despite all promises to the contrary so you make some money but not nearly enough to justify the time and effort you have expended.
In short, you must have a credibility problem…
Rest assured that this can be overcome once you recognize it. Start by making a medium term business plan that envisages a series of product launches each one bigger than the last.
The Launch Systems Toolbox will work in any niche market provided you follow the six steps. You don’t have to be an Internet marketing veteran. You don’t even have to be a propeller head.
You just have to have the will to take action. The ambition to work hard. And set realistic goals for you and your business.