Launches matter more now than ever. Lessons from leading brands in getting it right (hint: they’re using Twitter)
Most marketers know that whether it’s a brand, product, feature, message or promotion, the way you enter the market matters. But the bar for a successful launch is higher today than ever. According to Bain & Company, there are over 100 launches per day - a 27% increase from just two years ago.
They also found that getting the launch right drives lasting value: brands that have successful launches are more likely to gain market share and see an increase in annual revenue. There’s also long-term risk for brands that miss the mark: over a third of marketers cite loss of distribution and loss of brand affinity as consequences of poor launch performance.
According to Sarah Personette, global vice president of Twitter Client Solutions, Twitter is a critical platform for brands looking to have the most successful launch possible, because its influential and receptive audience is incredibly valuable for brands.
“Twitter has one of the world’s largest focus groups, as the platform is made up of people who are tweeting live and in real time daily,” Personette explains. “Marketers can use these cues in order to inform their launch strategies to best bring a product, brand or a message into the market.”
Twitter is where the conversation is happening, according to Emily Giannusa, vice president of digital and social media, HBO.
“It’s important for us as marketers to be authentic for our fans. Game of Thrones incites many emotional reactions from people, and because of that, our fans create their own trending moments around the series. Whether they're sharing reaction videos around the Red Wedding or creating their own Bran Stark memes, it's incredible to see how their creativity takes off and how they can cement themselves in pop culture and make their own moments.”
When it comes to delivering a successful launch, Giannusa says that knowing your audience is the essential element to success. By keeping a pulse on the insights, if your audience is the crux of everything you do, authenticity will follow.
“Develop bespoke programs for each of them, keep a pulse on what they're talking about, and be there with them every step of the way,” she advises. “Social media is never a set it and forget it platform; take full advantage of Twitter’s one-to-one capability to connect with your fans in an instant way.”
What's important to lingerie brand ThirdLove is that they listen to their customers. The best place to talk to them is in real-time, on platforms like Twitter, where you can respond to them instantly on any matter, be it positive or negative.
“We have a team who responds quickly on Twitter,” says David Spector, co-founder and co-chief executive officer, ThirdLove. “We're always out there trying to figure out what people are saying, what they're excited about, what they're passionate about, or what they're unhappy about. That provides us with the best insights about how to make changes.”
Lastly, Personette recommends brands consider teasing their launch on Twitter before they get to the official reveal date to generate buzz and reinforce their messaging over time to stay top of mind.