The launch of new products and services is essential in the life of a company, we all know that! What we know less about however, is how to make it a success.
The product launch is a subject that fascinates me most in my practice. It is as much a science as it is an art, and it demands precision: “Be on target!”. It is an important activity that can change the face of a company on a permanent or temporary basis. Positive or negative, whatever change it brings forth should not be underestimated.
It has been over 20 years that I have specialized in B2B marketing and I have attended and seen many product launches. Exo’s first client mandate was to resume the launch of a product which, having been put on the market once before, had not met their objectives. We attempt a second trial and, if we do not abandon the product or service all together, then the issue has become too big for our means.
How many product launches fail?
According to experts :
- – 20-25% in the industrial sector
- – About 30% in the services sector
- – From 70 To 95% in the high-technology sector
Others are more pessimistic, assessing that 60-90% of product launches end in failure, all industries combined.
According to our observations, the reasons are simple and are almost always the same from one case to another:
- – The product does not correspond to the expectations and motivations of the target clients and sought benefits.
- – The price does not match the perceived value
- – Competition is underestimated
- – The assessment of the potential demand is over estimated
The current context of competitiveness involves ensuring regular continuous innovation on a market of new products. These are two factors that become critical to the sustainability of B2B companies. This allows you to retain customers, acquire new ones and ideally create entry barriers.
There are some conditions, processes and key success factors for fetching the maximum clientele during a product launch. It is essential to grasp the content of such strategic activity. This is why the APCM B2B conferences invite you to hear two experts in the field. They will share with you their experience and their way of doing things.
The first part; The art of launching in B2B
Othon Leon, Independent Consultant and Professor at HEC Montréal, will present his experiences on how to launch successful products in the international B2B context.
For the second part, a successful B2B example
Vincent Guyaux will share with us the case of Locus Dialog, showing us the importance of rigour and knowledge of the market in a product launch.
Take note of the date; Friday November 15 for a breakfast meeting.
Click here for more info and to register.