Most companies feel that new products are the lifeblood of a strong company. This is referred to as upstream marketing. However, your marketing efforts cannot end there if your new product is going to be successful. Strong downstream marketing efforts are needed.
Downstream marketing involves all your go-to market activities, including:
- Product Training
- Sales Tools
- Marketing Communications (advertisements, brochures)
- Post-Market Surveillance
This is often an overlooked step when launching a new product, but is critically important. If your sales team doesn’t understand how the product works and why it provides great value to your potential customer base, they won’t be successful in closing sales. However, if they can speak technically and build rapport with their customer base, it’s quite possible that their customers will approach them first when they have technical questions. This can open opportunities to sell existing products in addition to the new product they are focused on.
As a downstream marketer, one of your top goals is to provide anything necessary to increase the likelihood of success for your sales team. Training is a key first step, but sales tools are very important as well. Strong sales tools that enable your salespeople to properly demonstrate the product can build a potential customer’s confidence in the new product and disarm any potential causes for concern they may have.
It can be extremely difficult to sell a product that no one has ever hear of. For that reason, marketing communication efforts are important for building brand awareness of your new product. This includes advertisements, brochures, technical datasheets, technique guides and instructions for use to name a few.
Downstream marketing initiatives are on ongoing activity until the once new product is removed from the product portfolio completely. The goal of every product launch is to provide a product that delivers a great value to your customers. Post-market surveillance is an important step that is used to gather feedback from current customers to identify if your product is delivering this kind of value.
This feedback could provide data that leads to product modifications, additional new product launches or changes to your pricing strategy. There will be action items to complete by the end result of your post-market surveillance activities.
Downstream marketing must be executed at a high level if your new product is going to sell at a high level. If you would like to discuss any of these downstream marketing activities, please fill out the form at the Contact Us tab . Let us help you with your downstream marketing efforts to increase the likelihood of a successful product launch.