We are all aware of the national and international product launch successes. Some companies are so good and finding a market need, building a product for it, and launching it that we are disappointed when their new products have launch problems.
What about small business or regional launches? How big can they be? You will find an interesting short video about a recent successful new business launch at CNNMoney. Please take a couple of minutes to watch it.
There are a few things I think are worth pointing out in this example:
- Smart Website: The website for this new business looks well designed and user-friendly. It gains attention and sells. Your website is often the first impression a potential customer has of your business. That first impression will last a long time.
- Unprepared for Success: The owner is not prepared for the success a good online presence can bring. His “store” has an international front, but he is unable to deliver. If you are using SEO and social media tactics to build awareness, you must be sure you are gaining attention from the right geographic market or have solutions for customers outside your operating area.
- Lacking an Ongoing Marketing Plan: The owner clearly invested time and capital in developing his initial marketing materials. His website, products, and packaging are well thought-out. He admits, however, to not planning or budgeting for an ongoing relationship with a marketing / public relations firm, and I suspect he did not budget for ongoing marketing. Every business should plan to reinvest part of their sales in marketing and business development, and the most efficient use of your marketing dollars comes from a professional marketer.
Your business probably has an updated and actionable marketing plan, which undoubtedly includes an ongoing investment in marketing activities. On the off chance you do not have a good plan, please take the time to build one.
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