This week we reach the final of our 5 Building Blocks for Certain Launch Success, where we discuss insights and the power of truly understanding our customers, market and or competitors.
A key launch capability is the capturing, understanding and applying of information to better understand the market, customers and product.
In our industry, we can leverage a pyramid of understanding to match Product Capabilities to Market Needs (we have to know that our product is solving a real problem, which physicians are willing to treat and buyers are willing to pay for.)
The power of analytics can be seen clearly with insights. An insight is a revelation or a truth about the customer and the relationship of the customer to the brand. In our industry this can be the key component when developing positioning, messaging and marketing strategy.
As an industry example, in the erectile dysfunction therapy area, there have been a couple of moments of truth. Firstly, patients (men) would refuse to recognise and discuss impotency, as this is a social taboo word and required development of a new lexicon and disease called erectile dysfunction. The other was the launch of Cialis, which as 3rd to market needed a distinctive ‘go-to-market’ strategy anchored in real market insights.
In this table, we highlight from the previous pyramid of understanding the difference between a finding and an insight in this example:
In this case, the insight was to understand the needs of the patient (and partner) were more focused on relationship rather than simply sex. This supported a quality of life promise and leveraged the dosing, administration and efficiency benefits of the therapy. Cialis subsequently overtook Viagra as market leader in this category.
Over the past few weeks we have covered our 5 Building Blocks for Launch Success as Forecast, Launch Planning, KPIs, Marketing Plan and Insights. For the full article containing all 5 topics, contact us at email@example.com or call our team on +44 (0) 1892 825110 to discuss which areas of your launch IE can help you optimise for success!