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Measuring the effectiveness of a product launch

Over the last few months we have seen the launch of a number of high-profile tech products including the Samsung Galaxy S6 and HTC one smartphones and the Apple Watch.

These highly-anticipated products have been talked about all over the world, both online and in print, generating hundreds of articles and, in the case of the Apple Watch, over a million tweets.

This has provided an enormous volume of data for the companies involved, which will help them to accurately measure the effectiveness of their launch and gain an understanding of the ‘buzz’ surrounding their product.

Media monitoring

Media analysis is key to any product launch and it’s particularly important for large tech companies who need to make sure that their products stand out in an incredibly competitive and lucrative market.

Within this, traditional (print) media monitoring and social media monitoring work hand-in-hand. This is because, although traditional media often drives conversation on social media, it also works the other way round, with social media discussions affecting what is being said in printed articles.

For example, at global technology events such as Mobile World Congress 2015, tens of thousands of attendees (including 3,900 members of the press) post actively on social media with their opinions about new products – forming the basis for many printed articles.

Sentiment analysis

It’s essential with a launch to get an overview on how the new product is being perceived by the media and, more importantly, current and prospective customers.

Sentiment analysis can look at the tone of product mentions and separate them into positive, neutral and negative. Following this, any segment can be delved into for further insight. For example, drilling down into the negative mentions may flag up an underlying problem with a particular function on the product. By spotting this early, it can be reviewed and resolved quickly, showing that customer feedback is being acted upon.

Evaluating positive mentions is also beneficial as it can often flag up features of the product which weren’t considered as a USP, but are proving very popular with customers. In turn, marketing strategies can be altered to highlight this feature – making it more desirable to prospective customers.

Benefits

Overall, media monitoring and analysis is a fantastic tool when it comes to product launches. As well as understanding the ‘buzz’ surrounding the product, there are a host of other benefits, which include:

  • Analysing competitors offerings
  • Identifying key influencers in the industry
  • Discovering where people are most likely to talk about a product
  • Spotting early warning signs to avoid a potential crisis

For more information on our traditional (print) and social media analysis services, please contact us.