There are many tried and true metrics and success frameworks for measuring the performance of a product over its lifecycle but that special moment of a new product launch has a unique set of techniques and criteria for success. A successful product launch is often defined by the intensity, quality and scale of interactions with or about the new product or brand. Consumer electronics, lifestyle brands, CPG companies, fashion brands and movie studios have historically been great at creating new product momentum. Apple’s iMac, iPad, and iPhone launches are now classic case studies. Nike’s Air Jordan launch arguably created one of the most valuable sports brands of all time.
The traditional product launch playbook has consisted of a concentrated combination of reach advertising vehicles (television, out of home, radio, Yahoo! home page, etc.), press outreach, and some combination of buzz-generating promotional events.
While effective, these are brute force methods and, in the world of the connected consumer, lack a sense of authenticity. Today the mobile/social web allows for a much more authentic, measurable, lower cost and, most importantly, effective vehicle for new product launch campaigns.
Social + mobile are arguably the best mediums to build intensity and reach for increasing the frequency of interactions with a product or brand. ComScore’s analysis of the top 100 brand pages showed that for every Facebook fan there are an additional 34 friends of fans on average that can be reached. The multiplier is 81x on average for the top 1,000 fan pages. This reach is also more authentic as it’s driven by person to person interactions around a product rather than simply a brand to person direct messaging about a product. Finally, by focusing on fans and followers for a new product launch, the brand is addressing self-selected loyalists who are more likely to spread the word to their friends. According to a Channel Advisor study, 83% of consumers globally are more likely to visit a website recommended by a friend on Facebook, and more than half say comments posted on a retailer’s Facebook page also influences their opinions.
At ShopIgniter, we have worked with a number of innovative brands to leverage social media to launch products. The following are techniques we have seen work well for launching a product on the social web.
Teaser messaging to your loyalist customers – Wall posts, tweets and emails targeted at loyalists that give limited information about the coming new product and where/when it will be available.
Visually rich, branded product showcase experiences – This is an app or microsite with strong social design including passive and active amplification and discovery mechanisms. For example, the experience could provide exclusive availability, early look or pre-sale of the new product, and may require a minimum number of users to unlock content or colors.
Integrate social and mobile into your broader promotion plan - Using tweets, wall posts, links from owned web properties, email campaigns and paid media.
Amplify organic sharing using sponsored stories & promoted tweets - This introduces new users into the experience who drive sharing that can be further amplified. Think of it as a reinforcing outward spiral of impression reach. TBG Digital reports that Sponsored Stories ad units received a 46% higher click through rate, a 20% lower cost per click and an 18% lower cost per fan than Facebook’s standard ad units.
Identity and reward your top influencers during the product launch – Rewards can include new product giveaways, future VIP access, badges or points for example.
If executed correctly with the right tools and partner, a social product launch can scale message reach well beyond that of traditional advertising vehicles with a more authentic message and at a significantly lower cost.
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UPCOMING WEBINAR: To learn more about the latest Forrester research into the key behaviors driving the new “always-adressable” customer, join Senior Analyst Melissa Parrish and ShopIgniter CMO, Kevin Tate for a webinar this Thursday titled, Your Connected Customer: Inspire Buying and Sharing in The Always-On Mobile and Social World
