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New Product Launch Plans Impacted by Social Media

Joan Schneider, CEO of Schneider Associates, discusses the impact that social media has had on the launch of new products, services, businesses, and communities in a Harvard Business Review article.

Based on research published by Schneider Associates, the 2014 Most Memorable New Product Launch Survey, the media plan for a new product launch must carefully consider the target market.  Each generation has a unique media profile.

In general, consumers now seek information from six or more sources before purchasing a new product.  According to the Schneider survey, TV commercials are the most used source for new product launches, followed by Facebook.

Schneider provides ten tips for brand and marketing managers:

-Use social media as a supporting character, not the star performer.

-Use social media to leverage and support an in-person launch event.

-Use social media to build or capitalize on a consumer’s emotional connection to a brand.

-Use social media to support a launch by knowing the target demographic and their social media

preferences.

-Use social media to host contests that foster loyalty and reward brand.

-Use a blogger outreach strategy to help launch the product.

-Use a hashtag to create, ignite, and track the conversation on social media.

-Use visual social media to give people an inside look at a B2B company.

-Use social media to let consumers create the new product.

-To maximize effectiveness of a social media campaign, always stay ahead of “the next big thing.”

  

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