a step for step plan for a successful launch

Selma — Tue, 27 Sep 2022 20:14:39 +0000

a step for step plan for a successful launch Selma Tue, 09/27/2022 - 22:14

A step for step plan for a successful launch

Here we are we have a new product that we want to launch and offer to customers, but we are not sure if we have the right audience in mind for example. Do not worry that is what a Go-To-Market strategy is for. A Go-to-market strategy is a step-by-step plan to successfully launch and deliver a product or a service to your customer, relaunch a brand or a company or bring a current product to a new market. Where you can test and launch demos of your product in a calculated and organised manner to save you time and money.

WHAT

WHAT: identify your product or service, is your product a new concept, is your product an updated version in the market, etc… It is essential to know your weaknesses and strengths and who your competitors are.

WHERE

WHERE: The first stage of developing a Go-to-market is establishing a clear definition of the target market. Start with the question are we targeting a B2c customer or a B2B customer? The purpose of your target market should be broad to be able to give more room for potential income objectives, yet specific enough to customize your marketing material and sales approach.

WHO

WHO: Identity your customer. You need to look at your service or product from the consumer's viewpoint. At this stage, we take several elements into consideration such as location, demographic, buying potential, interest, buying habits, etc… This stage will result in a customer profile “ buyer persona”

HOW

HOW: so we have established our market as well as customer how are we going to reach them? This how needs to cover aspects of how you are going to approach them and how are we delivering the product.

Let us start with the delivery as that is more straightforward. Are we applying a direct or indirect distribution model? Direct distribution enables the in-home team to sell and deliver directly to the customer as there is a distribution network set within the company, As for indirect distribution we rely on third-party distributors. As for the methods of approaching the customer is it better to apply a marketing strategy or a sales strategy? We need to understand the potential response of the customer.

WHY

WHY: this is the brand messaging. This message needs to speak to the consumer and the stakeholders simultaneously. When it comes to the consumer you need to address why this product or service is useful and valuable to them. The stakeholders on the other hand will want to see the value proposition of your product or service.

WHEN

WHEN: We have created a clear process now it is time to carry out the plan in an organized manner and use good communication skills within your team. This is also relevant to the timing of releasing your product and service if you calculate it right you might be ahead of the competition or have a first-mover advantage. If you are too late your product or service might not launch as smooth as expected.

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Download: Segmentation spreadsheet

For example, the ebike company is starting in Belgium

East Flanders
West Flanders
Antwerpen
Limburg
Flemish Brabant

In each segment, there is another segment is the audience type in this case

Hotel with 4 and 5 stars
Hotel with 3 stars
Hotel with 2 and 1 stars

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Start with location research

Selma — Tue, 27 Sep 2022 11:32:56 +0000

Start with location research Selma Tue, 09/27/2022 - 13:32

Start with Location Research

When people hear location research they often associate it with industries such as retail, real estate and warehouses. However, location research can be implemented in any tangible product industry. For example, placing EV chargers will not be efficient and optimal if they were placed randomly therefore location research is carried out to decide where EV chargers should be installed so that they are used optimally and effectively. The same goes with a shared bicycle provider, conducting location research will illustrate the best spots to have this service available.

Location research = understanding prospects

However, location research is not only limited to determining the location where a product should be available for optimal performance it can also provide information regarding how many units should be placed, what is the acceptable price point within the region, and who the competitors are in this region.

And before conducting location research an effective site screening method should be put in place. Meaning that if we have 500 potential locations only the most potential location should go through extensive location research that way you will save money and time by weeding out the not-so-successful locations.

Customized to each industry

Location research is customized to each industry or company as the selling points and focus points of one industry will be different to the other. Therefore it is important to establish the criteria that will make a location a winning or a losing location. For example, an EV charging location will take into consideration the population, pricing competition, and how many cars will pass the location where the EV charger is installed at.

Another major point to consider is the fact that a product might not be solely a home-based business source meaning that it does not only serve the local but also the passing by, for example, taking the EV charger again as an example they do not only serve the neighbourhood they may also get traction form highways and passing traffic.

Using models and methods

We use the multivariate statistical models and analogue method, such as stepwise multiple regression analysis for individual sites. As for networks we use gravity models which are commonly used for petrol stations and retail chains.

Why this is for you?

Why should you invest your time and money in a location research service as it will help you:

Grow your product coverage strategically
Save cost by placing your product effectively by avoiding costly mistakes
Target your selling scoop which will lower your sales cost and higher your closing rate and well success rate
Grow to different regions, cities or countries strategically
It improves the ROI of a business as it indicates the efficiency of an investment

Feel free to contact us for help we have researched hundreds of locations (prospects) and enjoy helping you become more successful

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