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Avoiding the Information “Tug-of-War” During Product Launch

Here’s the scenario. A new product or solution has been developed. Sales and marketing — because they have tangible goals that must be met in a certain timeframe — want to rush out the product launch so they can start selling it.

However, other departments within the organization — such as legal and finance — may take a more cautious approach. Legal doesn’t want to get the word out too quickly because there are too many items that need to be checked off the list first, such as the accuracy of competitive intelligence and any contractual obligations about promotions and sales. Finance wants to make sure that the pricing structure and cost of the product or solution are “just right,” and they need to make sure that future projections are accurate for budgeting and planning.

Working in corporate public relations, and marketing communications specifically, we’ve seen the push and pull between product development, marketing, finance and legal departments over when and how much information to give the general public and captive audiences. We’ve even witnessed arguments — in person and over email — about how much information should be released and how fast.

Here’s what an abbreviated conversation looks like.

Sales: “When is that product going to be ready, we need to start selling immediately!”

Marketing: “All promotions are ready to go. We’ve told Sales that they can start selling next week.”

Finance: “Hold on. What’s the pricing structure and do you have buyers willing to pay for it? If so, how many buyers do you have? And have all promotions and pricing been approved by Legal?”

Legal: “Who approved all of the promotions? We don’t have any contracts that are ready to be presented to customers.”

CEO: “Everyone stop. We need to get our strategy and information aligned before we make any entry into the market with this new product.”

Determining the who and the when

Look at developing marketing communications and the release of information in terms of three phases: product development, product launch, and post-launch.

During the product development phase, there should be several departments at the table. This would include product, marketing and legal, with executive oversight. Product is there to determine the path forward, timing and development efforts. Marketing is at the table to help with competitive intelligence and potential messaging as the product goes through testing. Legal is there to cross check the accuracy and legitimacy of competitive intelligence, as well as the claims about the new product that can and cannot be made. And the executive provides oversight to make sure everything runs smoothly and that the appropriate individuals are held accountable for their team’s efforts.

Preparing for product launch

As we approach the product launch phase — and because everyone has been working in tandem rather than in their silos — information starts to get approval and a go-to-market strategy starts to unfold. Based on testing, product is working out the final details before launch.

However, this is where things could get complicated for marketing and communications. By this point marketing has probably finalized the product name, gotten the legal approvals and trademarked or registered it. But what are we going to say about the product in order to promote it effectively, yet not tip our hand to our competitors? What remains proprietary and what can be shared? If we share too much — or if we say too little — our competitors will seize on it.

This is where marketing and legal engage in a very fine dance — with marketing getting creative and legal providing the checks and balances.

Marketing and its copywriters should begin carefully crafting the messages that were uncovered during the product development phase, and pressure-test them with confidential audiences. Here, the audience reacts to certain emotions and feelings elicited by the actual text, and copywriters can refine messaging based on those reactions. Some messages will get axed, some will get nuanced and some will be born.

After the messages have been created, then bring in the visuals that will align with those feelings and emotions that were uncovered. The visuals can be used for the collateral, website, presentations and any other materials that will be produced.

During the pre-launch phase, legal is also approving the messaging, making sure that all claims are factual, nothing crosses the line, and most importantly, that not too much information will make its way into the public domain. Legal can also help determine the intellectual property (IP) that can be shared with the general population as well as what IP can be shared with the target buyers.

With marketing and legal working as allied forces — rather than opposing forces — the whole product launch will be much easier. And, when materials are presented to sales — after they’ve been fully vetted — a lot of heartburn will have been avoided because sales will have clear parameters about what they can and cannot claim about the product.

Before product launch, marketing should be working with finance and sales as well. Together, they will need to work out product pricing, target audiences, actual buyers and projections. Sales will be determining realistic goals and anticipating the product launch date, and finance will have a detailed understanding of projected revenue.

Now that everything has been worked out and all systems are set, the product can be launched. Having worked together in unity, hopefully, all systems are a go and the information tug-of-war can be avoided — or at least made easier — and the post-launch phase is merely a matter of assessments and simple adjustments to ensure customer satisfaction.

The conversations should then be something like this.

Sales: “We’re ready.”

Marketing: “You have what you need.”

Legal & Finance: “We’re good. Good luck!”

CEO: “Good job, everyone.”

The press release is the Swiss Army knife of marketing

The Press Release: Marketing’s Swiss Army Knife

Swiss Army knives are generally thought of as the go-to multi-tool, capable of performing all sorts of handy functions in one neat little package. Marketers have their own version of the Swiss Army knife: the press release. It has the versatility to advance a variety of marketing goals.

That was not the case several years ago. Back then, press releases were written for the media; hence the name. Today the internet, social media and business practices have blurred the lines, which means in many cases a press release is no longer written with the sole purpose to attract media attention or fulfill an SEC guideline. Instead, it is a multi-function business tool.

Press releases allow you get your message out to your audiences unfiltered. This one piece of collateral is completely versatile and can help companies work towards a plethora of goals, including:

  1. Media relations: Good, solid media relations. Through distribution services, press releases are sent to journalists’ email, where they can choose to write about the news. Even if the reporter does not cover the announcement right away, your information may be filed as a “source” for future articles. The exposure can also make journalists aware of your company, or keep them informed about your latest developments.
  2. Sales: Current projections estimate that 60% to 70% of the business buyer’s purchase process is made before they contact the vendor. Given that most information a prospect obtains is before they enter the sales funnel, you need ways to reach them earlier in the purchasing journey. Also, press releases can be a reason for the sales team to go back to a prospect. Customer wins may be shared with prospective client of a similar size, specialty and/or location. Many deals are completed by potential customers after seeing what their peers are doing.
  3. Attract New Talent: Who does not want to work for a company that is doing exciting and innovative things? Showing momentum can turn the heads of qualified candidates for even hard to fill spots.
  4. Keep Investors in the Know: Highlighting your successes can attract investors. A steady cadence of news signals an active company that is gaining traction, a key to obtaining investor interest.
  5. SEO Benefits: When credible websites and search engines pick up your press release, it can raise your placement in Google search results, which drives traffic and increases awareness for your site. Using specific keywords can optimize the press release to be easily searchable by audiences, including prospective and current customers, employees, investors and the media.

You can significantly increase interest in your press releases by adding images or video, making them even more beneficial. Which business objectives will they help you unlock?

Make sure PR becomes the sales team's best friends in 2017

Why PR Will Be Your Sales Team’s Best Friend in 2017

I always get excited about the first month of a new year. January is like back-to-school season for grown-ups. It’s the ideal time to rethink your current way of doing things and to consider abandoning the status-quo for a fresh, new approach. Especially when it comes to the relationship between your PR, marketing and sales teams.

While we’re not advocating leaving behind what has made your team successful, we are advocating tossing out what’s keeping your team from achieving even more success. While we’re not advocating leaving behind your long-term strategy, we are advocating breaking down the silos that limit that strategy from being even more effective.

One of those limiting factors is managing your public relations, marketing and sales teams as separate entities. Whether you’re at a startup or a large corporation, you’re likely losing both dollars and deals by not harnessing the power of an integrated approach. In fact, we believe that PR can be your sales team’s biggest asset, to use on an ongoing basis or to leverage when times are tough.
But this is also a cautionary tale. When handled poorly, asking your sales team to use PR can be off-putting to your colleagues in sales and to their prospects. If you’re not thoughtful and deliberate in your approach, it can go quickly go awry.

That’s why we’re sharing four tips to help you get started:

    1. Start slow and be smart: Bombarding your sales team with too much information is always a recipe for disaster. But that is especially true when it comes to press releases or articles items they may be less familiar with than PowerPoint slides or marketing slicks. While it’s tempting to start off by sharing the highlights of your PR efforts from the last year, and then to start funneling the sales team every press release and article moving forward, it’s simply not the smartest approach. Similarly, just giving your sales team access to a shared folder of PR materials and saying, “use this stuff,” is ineffective. Most of the sales reps won’t do it, and others will likely do it very wrong, which is even more problematic.
    2. Remember your audience: You must choose your PR content wisely to get buy-in from the sales team. In addition to selecting items that are timely and relevant, it’s critical to think about their audience and end goals. The big idea is that communicating with prospects is vastly different than communicating with the media. For example, do sales prospects want to read a press release about an award that the company earned? Probably not. It’s better to share press coverage about that award from an industry publication because seeing an article in Healthcare IT News, rather than the “News” section of your website, increases the company’s credibility more than any self-issued release. Another great example is providing a client case study article for your sales team, and then letting them know that client quoted in the article is available for a reference call or to answer questions via email. Even though most prospects will not take you up on that offer, it creates instant credibility in their eyes, and puts sales reps one step closer to a signature on the dotted line.
    3. Provide guidance on the message: Keeping the audience top-of-mind helps you deliver the right message to your sales team, and helps them to deliver the right message to their prospects. Writing clear, concise emails to communicate with your sales team is vital. Many of them are traveling and skimming emails quickly on their phones. They may prefer to view articles as links, rather than by opening attachments. Understanding these preferences and adapting as needed is key to forging a partnership and facilitating their success.It’s equally important to help streamline their outreach for the PR materials you’re providing. Otherwise, your good intentions can be misconstrued as creating extra work. Having that message formulated and ready to go makes the outreach much more actionable for busy sales reps. We recommend providing an email template that enables them to easily copy and paste the information, and add a few personalized touches. Copy, paste, tweak, and send. Task completed!To take that idea further, some reps like when communication is sent on their behalf via a marketing automation tool like Pardot or Hubspot. If you have the time and resources to make this a reality for your team, it’s incredibly valuable. The only precaution here is making sure that the team is informed about the automated process so they don’t duplicate communications, or act confused when a prospect mentions the email that came from them.
    4. It should be a two-way street: Lastly, we recommend establishing a regular cadence for communication with the sales team so they know what to expect from you and when. There will always be unanticipated items that don’t fall within the neat confines of these rules but those can be the exception, not the rule. Combining that email communication with a recurring meeting increases your odds for success. While nobody wants to have more meetings, they are the most effective forum for two-way communication between teams, when they are well managed with a set agenda. The simple act of showing up and presenting yourself as a resource to the sales team, and then welcoming their feedback is greatly appreciated. Ideally, their feedback can provide new ideas and help inform your PR strategy moving forward. So, they’re winning deals and you’re winning too. And isn’t that what our work is all about?