3 Reasons Your Product Will Fail

It’s tougher than ever to introduce a new product or service into today’s market. Incredible competition and brilliant innovations create an environment that chews up and spits out anything imperfect or subpar. There are fewer problems to solve, there’s a distrust in bad branding and it’s harder and harder to think of something that’s truly original.
If you can leap those hurdles, there are more obstacles still. Here are the three main reasons your new product or service could fail.

Poor market research

You could have an incredible product, but that product will not sell if it can’t exist on the market. What if it can’t beat out the competition? What if consumers are simply not ready to buy such a product? What if your crazy new invention doesn’t even solve a problem – or maybe it does, but it’s the wrong problem?
Test out a prototype. Let enough people see, play with, use, whatever your new device or app or service is. You’ll capture loopholes and get valuable feedback on improving your product. Make sure it’s perfect.

Poor marketing

Gathering funds to promote and market your new product is easier said than done – we get it. However, nothing sells if people don’t know about it. You need to communicate the features and benefits of your new product in an effective way, to the right people. With competition and innovation at an all time high, great branding and advertising make a huge difference, not only in sales, but also in the launch of your product.

Poor market timing

This product launched too early. Fail. This product launched too late. Fail. This product launched at just the right time. Success. If you launch too early, customers may not be ready to buy your product, and if you launch too late, you’ll find some stiff competition. It could also be possible that economic factors and the political environment aren’t conducive to your launch.
If you’ve made a mistake in the timeline of launching your product, look for a way out immediately. Withdraw from the market, work on some improvements, rebrand and relaunch. If this does not look like a feasible step, then all you can really do is take the failure in stride, learn from the mistakes and move on to your next project.

4 Fundamental Strategies in the Age of Digital Marketing

In the good old days, marketing wasn’t so complicated. Make a commercial. Make a radio ad. Cater to the top magazines.
Now, however, we’ve got countless amounts of TV channels, billions of web pages and hundreds of thousands of “APPs” along with DMP’s, API’s and SDK’s. Huh? Technology has conclusively made marketing that much more difficult and much more elaborate.
What could once be considered marketing was identifying the buyers needs and communicating the said benefit. Now we’re supposed to build enveloping experiences that engage consumers.  In a land of wannabe experts selling snake oil here are four principles to guide your marketing efforts.

1. Formulate Business Objectives

In the day to day of marketing, there’s almost too much to keep up with. Everybody is struggling, not just you. This pace has catapulted every marketer to feel pressure to be “progressive” and bring in cutting-edge techniques for their marketing campaigns and proposals.
The mark of a good marketing campaign is how it achieves the advantageous goals. Therefore, how you define your intent will have a profound impact on whether you succeed or fail.
It’s easier for marketers to create a “one size fits all” approach for a portfolio of brands. However, most businesses are more adequately captured by evaluating these three metrics: awareness, sales and advocacy.

2. Identify Emerging Opportunities

Marketing executives are busy people (don’t we know it). Between monitoring the marketplace, identifying new business opportunities, collaborating with product people and running promotional campaigns, it is unreasonable to also expect them to keep up with an array of emerging technology and tactics.
It is essential to have a team dedicated to identifying emerging opportunities, meeting with start-ups and testing programs to evaluate their true potential. Most of these will fail, but the few winners will more than make up for the time you spent with the losers.

3. Separate Strategy and Innovation

Innovation teams and strategy teams are largely populated by senior executives because companies want the “best people” on them.
However, the strategy is fundamentally different from innovation. As noted above, a good strategy is one that achieves specific objectives and has a history of working. Innovation, however, focuses on creating something completely new and tend to not work as well as standard solutions (for now). Innovation is a messy business.

4. Build Open Assets in the Marketplace

Remember the days marketers could create compelling advertising campaigns that would get the consumer’s attention and drive direct sales?
Well today, effective promotional campaigns are less likely to lead to a sale and more likely to lead to an Internet search, where behavior can be tracked and retargeted by competitors. Ugh.
Successful brands are becoming platforms and need to do more than just drive consumers to a purchase, they have to inspire participation. That means marketers have to think less in terms of USP’s, and GRP’s and more in terms of API’s and SDK’s.
In the digital age, brands are more important than ever – practically communities of belief and purpose.

The TV Ad Revolution

When the 3D TV revolution ended at the start of 2017, some were convinced it was all over for television.
But the opposite happened. TV exploded.
This is due to TV’s evolution into a performance-marketing channel. It has been pushed forward by technological advancements, more timely, accurate targeting and measurement, and the ability for advertisers to optimize TV campaigns just like they do with digital.
So what’s next for TV and advertisers?
TV isn’t dying – not even close. It is still the most powerful marketing channel for brands – just look at the facts:

U.S. adults spent almost four hours a day watching TV in 2017. Estimates see this number dropping by just five minutes in 2018, and six minutes in 2019. That’s still three hours and 47 minutes a day.

TV ad spend continues to grow and even digital-focused companies are changing their focus.

Ad Spend Back to TV

“Fake news” has made things tough in the digital advertising realm. The industry was increasingly hit by fraud. People want transparency, now more than ever. Because of this, brands have started to reallocate ad spend to older, trusted formats, like TV.

Mini Ads

Last year saw a new format emerge on TV: mini ads. Perhaps inspired by Vine, or digital video in general, these six-second slots deliver quick-fire impact, leaving no time for viewers to switch channels. For advertisers, these ads mean reaching a very large audience at a time when they are fully engaged in the programming.

Better Targeting

Page Agency considers TV to be a performance-driven channel. In the past TV was typically used just for reach, but advertisers are demanding a way to get better targeting with TV.
These demands have been met – new tools have been born that can deliver real-time performance data on TV spots, enabling advertisers to gain valuable information on audience TV habits and insights into aspects of what best drives engagement. It’s not about just reaching a target audience, it’s about using data to reach them in the place and time they are actually going to respond.
This year, we’ll see more advertisers leverage spot and response data to better target their TV campaigns. Expect to see networks as well push for greater targeting and measurement efforts like Open AP.

Ad Agencies Shouldn’t Feel Like War Zones

evolution of ad agencies
When did advertising become the overworked, stressed out, squeeze-every-drop-of-creative-juice-until-you’re-all-used-up career field that it currently seems to be? What happened to the old agency spirit that pioneered the way for successful and epic brands?
Every moment was spent immersed in a cauldron of creation and ‘ideation’, carefully orchestrated by exceptional minds. Clients loved to visit ad agencies because they were a wonderland of possibilities and a factory for their visions and aspirations.
It’s tough to come up with world-class ideas when you’re working, thinking, chipping away 24/7, but it seems that’s what agency owners want in 2017. New-age offices are designed in a way so that no employee would ever have to leave. The onus of urgency rests heavily on the agency’s shoulders, so motivation is key for employees.
But motivations can do only so much. It is important to reinstate the rituals of the creative process, currently damaged by the transformation of the digital world (convenient though it may be).
Then let the planning team take over in full earnest, converting business aspiration into a jumping off point that actually makes sense, with enough flair to stimulate the creative mind. Following this will be ‘concepting sessions’ of deliberate cross-cultural conflict, eventually leading to the manifestation of a breathtaking idea with a passionate in-house presentation.
 Agency creative strategic process 
Finally, the client presentation should be considered a grand finale of sorts. A concert. A ceremony. The audience should be enthralled. The client should see (and be moved by) the passion and intelligence and creative acumen it took to come up with an idea that’s truly worthy of brand consideration.
From restoring respect and profits to improving employee morale, it would be immensely beneficial for the advertising industry to bring back the old industry spirit. The prevailing culture of brevity has morphed the exciting rituals of advertising into the monotony of procedure, leaving little room for inspiration, and reducing the quality of the craft as well as the value perceived by clients.
The digital age is eating the romance of advertising alive, misrepresenting abbreviation as efficiency and crippling creative minds. Advertising has always been a labor of love. Once that ends… everything is over.

5 Best Types of Videos for Marketing Your Brand

Video works really well when it comes to your marketing efforts. Movement draws viewers in and usually keeps them around as well. The real question is how to make your video and what goes into it to make it successful. Pretty much: how do I make my videos not suck. We’re here to help.