‘How to’ launch your new product
Not to put you off straight away but… people have deep relationships with certain brands and the products that they sell.
In most cases, consumers fall in love with one brand and will exclusively buy their products for years. Take iPhones for example, how many people do you know that will continuously upgrade to a new iPhone even if there’s better phones on the market? This is why when companies are planning on launching a new product, it can be extremely daunting. However, we’re here to fix that!
For long-term success you need to change consumer habits
And here is the reason why quality research is essential for NPD … according to Harvard Business School professor Clayton Christensen, each year more than 30,000 new consumer products are launched and 95% of them fail. People may well like a new product, may even try it – but in order for you to achieve long-term adoption of a new product, it requires the consumer to change their current behaviours and habits. At Emotional Logic, we approach NPD for what it is – behavioural change. We identify what people get out of their current consumption and usage habits and what is holding their product and brand preferences in place. We then give you the tools to unhook those current habits and stimulate behavioural change.
Consumers are trying new products
Our process helps you generate ideas for innovation, screen innovation concepts, accurately predict future sales and refine product features and packaging to maximise appeal to both current and future customers. Having said that, because of the pandemic, 36% of US customers have tried a new product brand. And of those who have tried a different brand, 73% intend to continue to integrate the new brands into their lifestyle. Also according to the McKinsey study, Gen Z and high earners are most prone to switching brands.
Because consumers are more open to trying new products, now might be the perfect time to set the wheels in motion. Here is an example of a case study we received from a client and the new insight we provided them with:
An FMCG brand was looking to increase their market share and grow the category they were operating in by activating new consumption situations. Emotional Logic was asked to screen, then test and refine a number of new product ideas for their potential to change consumer behaviour and activate growth for both the brand and the category.
Like many FMCG purchases this category was very habit driven with consumers reaching for 2-3 brands without really taking notice of new options. Our Motivation Deep Dive revealed what held existing behaviours in place and how to unhook those habits. We tested product concepts for appeal and ability to attract attention at point of purchase. This enabled the brand to develop a strong new product concept that will disrupt the category and create new consumption occasions.
Throughout this research we used a range of techniques such as our motivation deep dive where we apply language patterns from Neuro Linguistic Programming to reveal the underlying emotional drivers that influence purchasing, eye-tracking which reveals what captures shoppers’ attention and what triggers pack engagement, message decoding to discover the subconscious messages that your packaging is conveying and understand more deeply how your design influences the audience. We can fuel your innovation pipeline and screen your concepts easily.
Our research significantly improves your chance of a successful product launch
So, does it work? The vast majority of clients who have completed our NPD process, commission their next project with us within 3 months and continue to work with us over many years. Products launched based on our research achieve or overachieve their sales targets and many have gone on to become long-term top sellers for their owners.
Whether you need insight to adjust your strategies for existing brands to the new normal or are thinking about launching new products we can help you get it right. Emotional Logic is a specialist behavioural insight agency and we offer a range of cost-effective research solutions to ensure your strategy connects with the constantly shifting needs of the consumer. Please get in touch for a free consultation.