Tips for a Successful Product Launch at Retail
BDS’ Business Intelligence Team conducted an independent study to provide insights to a wireless phone manufacturer looking to launch their new smartphone at carrier retail stores nationwide. The study focused on in-store promotional activities, retail sales associate product knowledge, and campaign messaging.
Here’s what we found:
- The competitor’s smartphone launched on the same day earned 80% of the recommendations compared to focus brand with just 20%.
- On average, more than 50% of assisting associates either carried the competitor’s smartphone for personal use and / or recommended the competitor’s model to customers.
- Though 92% of associates were aware of the focus smartphone when asked, up to 25% showed a lack of knowledge around key consumer benefits.
Here’s what we recommend:
- Stagger launch dates where possible to limit competitor interference.
- Ensure sales force familiarization through early access to product for personal use.
- Design a talk track around distinguishing product features and benefits.
- Keep brand and product top of mind with associate target drip campaign.
For more tips on how to launch a new product successfully at retail, visit www.bdssolutions.com/retailproductlaunch.