Successfully creating and launching a product is something all brands strive for. Sadly, it’s easier said than done. When it comes to launching a product, the first impression is the last. It’s like your first day at a job; people develop a liking or disinterest for you the first time they meet you. The same goes for launching a product. In this post, we’ll talk about five companies that help you with launching a new product.
Why 95% of Product Launches Fail?
You need to hit the bull’s eye in the primary launch. Of course, you can recover from a disastrous maiden launch, but it takes time, money, and efforts. Most businesses struggle with creating this first impression.
About 30,000 new products launch every year, 95% of which fail. This number is even higher for tech startups (99%). And all this failure boils down to one core reason: lack of preparation. Brands are so focused on creating the perfect product that overlooks aspects like marketing, branding, pricing, and acquisition.
Here are a few reasons why 95% of new products fail:
- The product doesn’t fill a gap or solves a problem.
- The pricing is not competitive – it’s either too high or too low.
- The product is marketed to the wrong audience.
- There’s no actionable marketing plan.
- The company is unable to scale up the product.
- The company fails to gather feedback.
Companies That Help with New Product Launch
As discussed, several factors need to be considered for a successful product launch. But startups and small businesses that lack resources may not be able to address the requirements of launching a product.
In such cases, you can seek help from companies that help with the new product launch. These include:
1. For CRM – Hubspot
Shortening the time to market is critical to a successful product launch. But launching a product hastily without identifying customers and their intent can have an opposite impact. Customer relationship management (CRM) can help your sales and marketing team recognize consumer purchase intent, thereby reducing the time to market.
HubSpot is a company that offers software development, inbound marketing, customer service, and sales solutions. HubSpot CRM is one of the top-ranked CRM solutions in the world, and it can be the go-to pick for your CRM requirements.
2. For eCommerce – Revuze
With 12-24 million sites across the globe, e-commerce is one of the most lucrative business opportunities out there. But with an average failure rate of more than 80%, it’s also one of the most unsuccessful business ideas.
The reason? Well, there are many. E-commerce owners end up selling the wrong products. They lack accurate pricing. A marketing plan is missing. They lack a value proposition.
But it all boils down to one reason – the lack of accurate, actionable information to make improved business decisions.
Here’s where Revuze can help. Revuze is an e-commerce growth and business development company that deploys industry-leading AI to provide e-commerce insights. It enables you to understand the voice of your customers and helps you align your e-commerce strategy with your customers’ requirements.
3. For Marketing – Hubspot
Effective marketing is one of the cornerstones of a successful product launch. From developing positioning to competitive differentiation, a lot comes into play to ensure positive marketing outcomes.
HubSpot helps streamline your product marketing efforts. It offers a comprehensive marketing automation tool – Marketing Hub – that helps you attract the right audience and convert them into high-paying customers.
4. For Collaborative Working – Trello
Many startups and small businesses overlook the importance of collaboration in the new product launch. You likely have a diverse team of engineers, marketers, and managers working together to develop and launch a product. Efficient collaboration is essential to ensure all the teams work together towards a unified goal.
Trello is a Kamban-style list-making solution that helps you list, assign, and delegate tasks. It offers flexible and easy-to-use capabilities to organize new projects and plans.
5. For SDR – Lusha
Sales play a vital role in launching a new product. You might have the best product in the market, but it would be pointless if you don’t have the right customers to purchase it. Therefore, it’s crucial to ensure adequate training and performance of your sales development representatives (SDR).
When it comes to selling, getting accurate phone numbers of prospects is a common hurdle. Here’s where Lusha comes to the rescue. Lusha enables you to locate B2B contacts and company details, thereby streamlining your sales cycles.
Conclusion
Launching a new product can be exciting for a business. But in the chase for developing the perfect product, companies often ignore aspects essential for a successful product launch.
Therefore, businesses need to streamline their marketing and collaboration efforts. The five companies discussed earlier can help you with a successful new product launch if you lack resources.
