Mistake #71: Your marketing efforts are timed all wrong

If you’ve been reading this series, you’re well aware of the fact that most retailers aren’t into the business of satisfying demand, not creating it. 

You know how easy it is to overestimate awareness.  And how a few over-estimations compounds into really bad results.

By now, you should be convinced that marketing has to be part of your launch plan.  You need to take control and own demand creation.  You can’t just get your product on a store shelf and expect it to sell itself.

 In addition to identifying the right prime prospects (the audience) and offering a great value proposition (the message), the marketing has to be on the right platforms at the right times.

Of these, getting the timing right should be the easiest to accomplish.  Yet I see companies regularly screw up the timing due to poor planning. 

Many factors can influence what timing is best for a particular product in a particular category.  As always, the better a product understands its prime prospects, competitive context, and the particular tactics it is using, the better the timing can be optimized.

However, there are eight general guidelines you can follow to avoid crippling mistakes when it comes to planning the timing, duration, and distribution of spending on your marketing efforts.

Realize how long you’ll need to continue driving new trials to keep growing sales:  I see too many companies operate under a false perception that a product launch begins with a phase of driving initial trial and then shifts to a phase of driving repeat purchases.  In reality, most products need to remain focused on driving trial among new buyers for years, if not for the life of the product (while they simultaneously make sure they are getting repurchased by existing buyers).  It is an unfortunate truth that shoppers are fickle which means repeat purchases and loyalty almost always remain far lower than anyone would want to admit.  A significant new trial must exist to consistently replenish the lost volume from all these one-time, lapsed, or disloyal buyers.

Anticipate the time it takes for distribution to rollout across stores:  While a new store modular may be an official rollout date of July 1, expect that rollout to take four to six weeks at many larger retailers.  It would not be uncommon to be two weeks into a modular rollout and still have less than half of all stores set for the new modular.  Being able to recognize when stores get reset can provide valuable insight for delivering localized content to quickly drive traffic the moment you know the product is on the shelf.

Don’t rely on great in-store compliance:  While in-store shopper marketing should be a part of most new product launches, retailers have notoriously poor execution both related to how well it is done on a store-by-store level when the materials actually get displayed in-store, and how long they actually remain displayed in-store.

Consider your category’s purchase cycle:  If the average shopper is buying your category every two weeks, it shouldn’t take long for most people exposed to your marketing materials to be back at a store shopping for them.  If your product has a 6-month purchase cycle, your shopper will (on average) be 3 months away from their next purchase and you’ll have to wait much longer before the opportunity exists to translate any interest you created into sales.

Don’t wait for your product to get into distribution:  Many companies believe in the seemingly logical truth that marketing does no good unless the product is immediately available to buy.  They forget that a clock starts ticking the first day the product lands on a retailer’s shelves.  Buyers generally expect sales to start out strong, not slowly build from zero.  Demand for your products should already exist on day one, not just be beginning on day one.

Don’t start marketing too early:  Few products are ever in the position of Apple, a company that can announce a product like the Apple Watch six months before it becomes available.  For more mortal companies, spending too heavily on marketing before the product is available on store shelves can drive early adopters to search in vain, potentially lose interest before ever buying the product or buy a competitive product shortly before your launch.

View early marketing as an opportunity to educate:  Truly innovative products that challenge existing perceptions or habits require extra time to educate shoppers both on what the difference is and why it is better.  This typically requires multiple exposures and developing belief or confidence in the product over time.

View early marketing as a teaser to build interest:  Like Apple’s approach to announcing their watch before the final production model has been finalized, really interesting or intriguing marketing can actually build demand even when people don’t fully understand what it is they would be getting.  However, the ability to build this interest is proportionate to the quality of the marketing materials and the uniqueness of the product.

Not sure if or how each of these should be applied to your launch plan?  Concerned that your plans might be inadequate?

We’d love to help you find ways to improve your plans so your budget goes as far as possible.