How to ensure your innovation doesn’t fail after launch
In a rapidly evolving environment, diagnosing consumer response to new innovations soon after launch is the key to its long-term success.
So, you’ve successfully brought your innovation to market. But now is not the time to stop learning and evolving your offer if you want that innovation success to continue. Consumer behavior is changing rapidly post pandemic, and people are facing additional challenges with the war in Ukraine, inflation and the cost-of-living crisis.
Closely measuring innovation performance straight after launch can highlight if a new product requires fine tuning to avoid innovation failure, or even a change of strategy to meet changing consumer needs – and your sales targets. And if everything is going great, then effective product launch monitoring can identify what success looks like and inform your future innovation strategy.