Retail and consumer packaged goods analysts estimate that 75% of new product launches fail to deliver on expected outcomes. To overcome these odds, a global beverage retailer engaged Point B to help it launch its new product line into a new channel, grocery, drug, and mass-market stores. The company needed a successful launch to demonstrate the growth potential of this strategy, but also a different marketing approach that reinforced its image as a purveyor of high quality products.
Designing and executing an innovative launch program
Point B worked across the organization to create and execute an innovative marketing program for successful product launch into the new channel. We helped the client:
- Create the overall launch strategy, positioning and execution plan.
- Develop an incentive for consumers to try the new product without risk – instead of a typical money back guarantee, which didn’t align with the retailer’s high-end brand, consumers could receive the “traditional” version of its product.
- Concept test the program in nine markets. Response in these markets helped fine-tune the messaging as well as surface fulfillment challenges.
- Lead cross-functional teams to create an extensive marketing campaign, including print, TV, and online ads.
Creating awareness and building brand
The program delivered vastly higher ROI than past programs run by the client by targeting the right message to the right audience — with support from online and print advertising, in-store merchandising, and customized retailer events. Post promotional research indicated that:
- There was a 20% increase in sales in the nine concept markets when compared to the other markets, helping this retailer meet their overall sales goals for the year.
- More than 50% of consumers aware of the promotion found it to be motivating, and more than a third of those aware actually purchased the product because of it.
- Overall, the promotion created positive goodwill about the brand, with almost half of those aware of the promotion now feeling more positive about the company, with the rest feeling just as positive.
Point B’s marketing expertise and knowledge of the retail channel proved critical to the design of this product launch. Further, our ability to execute the program ensured the success of the launch and provided a blueprint for future launches into the same channel.