Top 10 B2B Product Launch Factors - The Case of the Missing Content

Schneider Associates recently surveyed 98 business-to-business marketers on their product launch practices. The results are included in this executive summary and this press release. Out of the findings, here are the ten suggestions from Schneider on how to improve your product launch success:

1. Create a documented launch process.
2. Set a separate launch budget and make sure it is adequate to meet the launch challenges you face.
3. Establish your launch budget as early in the product development phase as possible.
4. Keep your launch budget stable throughout the implementation phase.
5. Determine your launch performance measures before the launch begins.
6. Measure the “right” success metrics.
7. Include the “right” external launch professionals on your team.
8. Fight for bigger budgets.
9. Educate your sales force and other internal audiences about your new product or service. Also focus on distributor, retailer or dealer education.
10. Spend money on word-of-mouth campaigns rather than on advertising.

I'm not sure there is anything earth-shattering here (outside of #10 on WOM campaigns. For more on that, check out CK's blog reaction about this survey.). But, I must say I'm very surprised by a few things:

• I've seen many a product launch die because of a lack of communication with not only the sales team, but the entire employee base. I'm glad to see this make the list, but this is #1 or #2 in my opinion. Internal marketing is more important than external marketing - ALL THE TIME. This is especially true for a product launch. What's the use of creating the perfect external launch plan if customer service isn't clear on the vision. Say goodbye sale. Customer touch points are still as important as ever (maybe more important). Invest first internally, prepare the troops, then create demand generation.
• Lots of focus on budget here (and rightfully so), but very little focus on the customer (which is scary). At the very top of the list should be in-depth research on the buyer. What are the buyer personas we are dealing with? Have we set up listening posts (feedback channels) to properly get the feedback we need? With the new product launch, have we focused entirely on what the customer wants (not necessarily what we have)?
• In the summary, it was noted that those that prepare earlier for the launch were more successful. This obviously makes sense. I guess I'm interested in what the preparation entails. We've all seen (and maybe done) the marketing launch that floods the product message through print, web, in-person without the upfront "nurturing" that is needed. What do I mean by nurturing? Before the product is ever mentioned, we better be targeting the core buyer with content that meets their informational needs. That means starting early with blogs, white papers, eBooks, a print magazine, an eNewsletter, an in-person roundtable, etc., discussing key industry issues with customers and prospects and developing a dialogue with them. Yes, this kind of effort takes time, but it should be the second or third issue on the table (after internal communication) when you are discussing your product launch plans. Product launches become much easier if you already have built-in communication channels with your customers and prospects.

Here is a short list of what I would like to see as the results of the next survey:

1. Invest in buyer research to understand the buyer persona and decision-making cycle for your product. Set up feedback channels throughout current communications, as well as launching new research initiatives. Flowchart the buying process for the product (often times six or seven people in a business-to-business organization).
2. Clearly educate all internal employees on the new product, how it affects them, and how the new product aligns with the needs of the customer and the culture of the organization.
3. Set up a documented launch process as early as possible in the process.
4. Determine the ultimate success of the program. What are the conversions that need to happen throughout the buying cycle that define success?
5. Define the budget for the program at 25% higher than anticipated.
6. Develop a highly-targeted content plan to deliver consistently valuable information to the target buyer (this should be integrated with your current plan if you have one). Through your buyer research, you should have the data to know how your buyers interact with content. Once you have that information, deliver consistent and ongoing content through the channels they use the most. Be sure to integrate the communication effort within all channels.
7. Find "outsource" professionals to assist in both your content creation/execution and your product messaging execution (might be the same or different).

Final note: The more a company pushes a product, the more sales information tends to flow from the company to the buyer. Be sure your communications don't become constant solicitations. Continue to deliver quality content to them, and they will open their eyes to your product offerings. Better yet, if you clearly understand your buyer, your product will be a true solution.

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Related Articles:

• 16 Questions to Ask Before Launching a Content Marketing Project
• Stop Shouting Features: 5 Tips To Create a Knowledge Marketing Program
• 4 Content Marketing Essentials for Every Business

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Comments

[CK]

Excellent assessment Joe...I'm going to update my post with a link to this post. I am, as I said over at my place, absolutely confounded that the customer didn't even make it to the top 10 practices (really, how can this be?). And internal communication is critical. Just updated my post with a link over here as you're far more articulate than I -- thank you!

[Joe Pulizzi, Junta42]

CK...you were dead on with your assessment in your post. It scares me as well that some of these marketers have their heads in the ground. Thanks for drawing attention to it!

[CK]

You should have heard me "yelp!" last night when I saw it. And I'm not knocking the producers of the report...they're merely relaying "findings."

But MYOPIA is our issue here. Even with internal communications being so far down the list.

And that report is covering marketers with huge budgets. Such a waste when what we need to do is decrease the gap with our customers and increase the communications with internal departments. If we can't even be talking to the sales departments, no wonder we aren't with customers.

Sigh.

[Joe Pulizzi, Junta42]

Agreed. Collective sigh! Guess we need to keep pounding the drum.

[Wayne Regehr]

I appreciate your comments and interaction with this study.

We have been working in the area of communicating product information to sales teams (#2 above). It is fascinating how the area of communicating product launch details such as value propositions, deal scenarios, aligned references are not common practices.

Regards,
Wayne

[Wayne Regehr]

I appreciate your comments and interaction with this study.

We have been working in the area of communicating product information to sales teams (#2 above). It is fascinating how the area of communicating product launch details such as value propositions, deal scenarios, aligned references are not common practices.

Regards,
Wayne

[Joe Pulizzi, Junta42]

Great point Wayne...it's funny how many organizations continue to not invest in their own marketing resources...increasing turnover and hiring inexperienced staff. Companies continue to rewrite activities year after year. Sounds like your company is on the right track!
Best
Joe