There are just as many differences as similarities and you need to get it right.
When a regional company plans a product launch their plan of attack needs to vary greatly from them growing share in an existent market. The first difference is obvious. For most companies unless iconic in nature they have very little following or brand awareness in a new market. In a mature market growth is generally achieved by poaching another company’s consumer by repositioning its message.
Remember consumers are not psychic. They don’t visit a location or purchase a product unless they are aware of its existence and attributes.
When a regional company is expanding into a new market, after thorough research of the market, often pre-launch and launch campaigns are the first steps that should be taken. This means creating an awareness that far exceeds the main demo target because it’s beneficial to ensure everyone whether 4 or 94 years of age knows you are there. Sales leads come from everywhere.
An awareness campaign allows for a new audience to be introduced to a brand and create an identity in that market. Who are they? What’s their story? What makes them unique? Where can they be found? All things that help the consumer find the brand in a new market.
There is a great need to truly understand the market and how those specific consumers behave and engage with media in their local area. Since these elements can vary greatly from market to market, it will dictate which mediums will be most impactful.
Reinforcing a mature brand is quite different. First, it really takes clean and concise creative to change a consumer’s mind. The message needs to be narrowed to the most relevant audiences. No longer going wide but going narrower and deeper. Because now your organic room for growth primarily comes from poaching another company’s consumer. In these markets, competitive analysis, media frequency and impact must be studied and understood completely to combat your competition. The worst thing for any brand is to become background noise.
Often these campaigns need to enlist additional guerilla marketing elements very different than the mass explosion that should be felt when first launching the brand. Sometimes audiences just need a little push with a call to action campaign. Campaigns like text to win, apps, social positioning, a charitable cause or specific influencers can spark a resurgence and get an audience that has become complacent with a product or service involved with the brand again.
Understanding a brands place in the market really will dictate what the best course of action is for the type of marketing that needs to be done. In the end advertisers will find that both a launch and sustainable mature campaign needs to be in their marketing plans. It’s understanding the differences that will make all the difference.