Launching A New Product During A Pandemic
Many businesses are hesitant to launch a new product because of the coronavirus pandemic. However, King Kong Sabri Suby says that businesses must have the guts to introduce a new product because no one can predict what will be happening in the coming months. One thing is for certain; once the pandemic blows over, consumers who have been spending their time online are already aware of the product.
The level of uncertainty in the market is quite high today and people do not want to spend their money. However, businesses can turn the challenging times in their favour. There are companies like Uber, Pinterest, Airbnb, Slack and Lyft that took advantage of the opportunities during the Global Financial Crisis. Office space was cheaper and there was less competition so it was easy to sign new deals. Nowadays, these companies that had the guts are dominating the global marketplace.
The problems that businesses have been attempting to solve before the coronavirus pandemic still exist. There is still the problem of getting new customers and growing the business. Instead of a 12-month SEO strategy, a 30 or 90-day paid traffic campaign may generate new leads to a new product. Since every business is different, it makes sense to adjust the marketing plan according to the company’s requirements.
According to King Kong Sabri Suby, business leaders must think of products that consumers cannot resist. When choosing between vitamins and painkillers, a better choice will be painkillers. Vitamins are not urgently needed while painkillers are critically important. 10 years from now, your product will be known all over the world.