Case Study: Product Launch
Brief:
Ardent was engaged to launch an online literature tracking database within the pharmaceutical market. The brief was to fully equip the client’s sales force and develop a complete launch plan within three months.
Challenges:
The product was to compete with target customers’ in-house systems so the proposition had to demonstrate an overwhelming return on investment for each prospect. Market education was a strong requirement as the product derived from new and complex technology.
Solution:
Ardent procured and analyzed data on current drug development profiles for global pharma companies; developed training pack for sales and a support kit to drive demand from prospects; devised segmentation strategy and set price point and discount tiers; qualified prospect list for sales follow-up; launched customer information website; established advisory board and test partners; conducted tele/video conferences with prospects and key journalists; commissioned collateral packs including an ad series; arranged launch events with hot prospects, ran an e-mail testimonial campaign to stimulate awareness.
Results:
In the first week of launch 40% of prospects were converted to qualified leads.