What do the launches of Microsoft’s Windows 8, Wendy’s Pretzel Bacon Cheeseburger, and the 2013 Toyota Corolla have in common? According to the Most Memorable New Product Launch MMNPL survey, from Sentient Decision Science and Schneider Associates, these products made the best emotional connection with consumers. As a result, consumers were also more likely to remember and purchase these products.
Every year, thousands of new products and services are rolled out. Marketers crowd the media space with announcements related to what they’re launching. The result is only about 55% of consumers in any given year are likely to remember any single item that was introduced. How can your clients avoid getting lost in the noise? Joan Schneider, author of the study and CEO of SA advises that “[m]arketers should study what drives their consumers and develop campaigns that connect with them emotionally in conjunction with looking for ways to deepen this impact across converged media.”
In some ways, marketers are already using neuromarketing research findings to tweak their campaigns. This year, researchers found little difference between genders in their ability to recall new products. Only 2 years ago, 11% more woman than men could recall products. Neuromarketing techniques that targeted men recently may have worked to help them remember ad campaigns.
Consumers are also using more media sources these days. Researchers noted that 71% of those who use 6 or more media sources recalled a new product. Only 55% of those who used fewer sources could do so. This finding speaks to the importance of using all available media formats to launch new products.
Research also emphasized that consumer awareness of a new product is not the same as purchasing a new product. Seeing a great ad for a product will help consumers remember it's out there. But before shoppers convert to buyers, they must believe a product will meet a perceived need, or that its features are unique.
Are you encouraging your clients to use multiple media formats and to make emotional connections when they launch a new product?
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-owner of several small businesses in the health care services sector.