74% of marketers prioritise social for product launches
Three-quarters of brand marketers are now prioritising social media above all other channels in their product launch plans, according to recently unveiled research from Five by Five.
This inclination toward social activity for launches may be down to the faster timeframes that it affords: 81% of those surveyed say the average time between first idea and product launch has shrunk over the past five years.
Indeed, a huge 70% of the 730 senior marketers surveyed indicated they are typically restrained to six months or less for product launch preparation.
Social is perhaps at its most important in the early stages of a launch: around two-thirds (64%) of marketers use social listening to support their new product development, while 46% believe it’s most powerful as a channel for generating awareness pre-launch.
“Social media has become the most important way to generate buzz for new products and services before they appear,” explained Martin Flavin, creative director at Five by Five.
“Shareable content and social engagement allow brands to create a groundswell of pre-launch interest in a way no other channel can match.”
However, given social’s low-costing reputation, it is surprising to find that two-thirds (63%) of marketers think launches cost more now than they did five years ago.
Michelle Mitchell, strategy director at Five by Five, concluded: “For many senior marketers, launches have become more multi-faceted.
“This means that effective communication internally, alignment with external agencies and the correct investment of time and budgets is crucial for ensuring a successful launch.”