Study: 74% Of Marketers Focus On Social Media When Launching New Products

Study: 74% Of Marketers Focus On Social Media When Launching New Products. Home : Marketing : Study: 74% Of Marketers Focus On Social Media When Launching New Products A global research study has highlighted new insights around the launch marketing stategies for new products. The research was commissioned by launch marketing specialist agency Five by Five, interviewing more than 730 senior marketers across the US, UK and Australia. Sales promotion ranked second among the most important channels, with more than half of marketers (55 per cent) citing it, with email campaigns coming in third (53 per cent). According to this new study, one factor in the growth of social as the go-to channel for launches may be the faster timeframes facing marketers: eight out of ten (81 per cent) say that the average time between the idea first originating and launching the product has shrunk over the past five years. In addition, 70 per cent say they usually have only six months or less to prepare for a product launch. Matt Lawton, managing director at Five by Five, commented, “Insights from each category indicate there’s a big focus placed on social media pre and post launch and that’s an exciting challenge because it requires communications plans to be flexible.” The study also asked marketers how they feel launch marketing has changed over the past five years. Meanwhile, three-quarters of marketers (72 per cent) think the creative ideas around product launches have become braver over the past five years, rising to 97 per cent among marketers in the travel sector. This proportion is highest among the luxury goods (91 per cent), healthcare (91 per cent) and FMCG (90 per cent) sectors. According to the findings, almost seven in ten firms (69 per cent) use soft launching or pilots to support new product or service development.