“At one point, Mark Cuban borderline dismissed the product and said: “It's a flashlight”, and the owner pitching the product was emphatic and replied: “This isn’t just a flashlight - it's the only rechargeable, solar-powered lantern that's also a phone charger that you can count on when the power goes out. It’s a multi-purpose flashlight - you can use it in a bunch of different ways as a USB charger, and so on. Last night, I was watching Shark Tank, and there was this product called the X Torch. “Therefore, I bring a lot to the table as far as the differentiated position is concerned and establish how that impacts effectiveness when it comes to things like user adoption and consumption. If you’re bringing a niche product to market, the chances are consumers will be willing to spend more cash to experience something different from everything else.Ĭarter Holland explains why product differentiation is important for product marketers, and in business, generally:Īs far as adoption metrics are concerned, how has the role of a product marketer changed the way you as a marketing leader look at new user adoption campaigns versus existing customers and consumer adoption? “I’ve managed product marketing, but my background in marketing and rising to market leadership stems from communications. Curiosity and consumers go together like hand in glove. Why is product differentiation important?ĭifferentiating your product sets it aside from the competition and provides your target personas with a distinct reason to opt for your company - if competing products aren’t offering the same features, where else can they go?Īdd to that, exclusivity provides you with a basis to introduce higher price points. He shared his insights on what’s important when launching a new product. What is important when launching a new product?Ĭarter Holland, Market Strategist at GhostRetail, has 25 years of experience leading large-scale marketing teams and shares his insights on how product marketers can measure the success of their product launches and optimize the launch process. Keep your eye fixed firmly on the importance of securing your investment, stay composed, and don’t get protective. You need to develop thick skin and take potential criticism on the chin. It’s important to prepare yourself for a tough crowd. Always be sure to say where you got your data from, include comprehensive, granular information, and select stats that meet the requirements of your audience. Numbers can be your perfect ally if you’re faced with tricky questions or have to support claims made in your pitch. Never underestimate the importance of data. Bide your time, nail that all-important first impression, and focus on the specifics when/if the time comes. For example, insisting a potential investor sign a non-disclosure agreement isn’t acceptable. While investors want to see a confident pitch, it isn’t appropriate to be overly confident. You need to take this opportunity to ensure you convince a potential investor that you’re the right person to deliver on your promises and release a successful product. Investors team up with people they know, like, and trust - you never get a second chance to make a good first impression. Preparation is key to helping you find the right investor - don’t try taking any shortcuts. Conduct thorough research before pitching so you’re not wasting your time and that of your attendee. You need to pitch your product to an investor that ticks all the boxes. Here are some tips to help you prepare for the product launch pitch: How do you pitch a product launch?Īn effective pitch is pivotal to the success of any product launch, with the most you must combine thorough research, meticulous preparation, and an engaging presentation. These include sales, customer success, product, and product marketing. The primary purpose of a launch is to provoke a sense of anticipation and generate awareness of your product amongst your target audience.Ī collaborative exercise, product launches require input from different people within an organization to ensure the process is successful. A product launch is a process in which a new product or service is brought to market by a company.
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