Seven ways to successfully launch in a new market
Stellar’s European Account Director Marie-Sophie Ferriere on how to launch a product in a new market
It is that time of year when we all crave brilliant blue skies and the crystal clear ocean…so what are you waiting for? Jump into the water.
Launching a new product in a new market is a lot like preparing to surf a big, exciting wave.
For months beforehand, you plan and prepare, researching the right spot, checking the weather and your equipment, getting your surfer crew fired up and ready for this special moment.
You are poised, hoping the predicted waves will come in all their glory, giving you the ride of your life.
As much as the unknown is part of the thrill, mastering this uncertainty and the environment is key to catching that tube wave and avoid crashing.
At Stellar, we have successfully ridden many waves, launching in eight European markets, standing firm and steady on our surf boards.
To celebrate our most recent launch in France, we want to share with you our tried and tested technique for positive return on investment, as you introduce your product around the globe.
So, what do you need to be shop-floor ready and make your launch a big success?
Be well equipped – hire carefully
Craft the right brand team to enable you to tell your powerful story. They will be your eyes and ears in-store, so you will need to have complete trust in your points of contact. Listen carefully to their insights as they will equip you with a deeper knowledge of your local market and its evolution, in real-time.
Enable a remote training program
It is vital to have a solid, but moveable education plan in place. Never cut corners when it comes to having the right tools available for team training. Ensure you can recreate the full training experience remotely, which will enable you to scale your brand knowledge faster, further and more economically.
Use efficient communication tools to stay in touch
Working across different time zones and native languages can be a challenge during fast-moving projects. Create new and effective ways of working by using professional communication platforms such as Slack, so you can facilitate a continuous flow of feedback around the clock.
Develop meaningful partnerships with local experts
In this age of co-brand collaboration, form a bridge of brand-awareness and create hype by collaborating with local experts. Stellar partnered with Sage Appliances to facilitate their introduction into the French market, and are currently working with iconic French coffee roasters to educate consumers on third-wave specialty coffee.
Real-time analysis enables real-time change in retail, and is crucial to weathering a launch in a new country, triggering on-going consequential improvements.
Feeling shy? Test the water
If you are not ready to jump straight in, dipping a toe in the water is a great way to start. Popular US beauty brand Glossier first launched in the UK with a pop up in 2019. With 100,000 fans visiting in just two months, it has since become a permanent fixture. Pop ups can help build local brand communities and provide a platform from which to share your story at a deeper level. Alternatively, launching on a smaller scale using a range of engagement techniques to test what works, can be equally revealing before taking the plunge.
Choose agile professionals to accompany you on your journey
Having worked in Shanghai, Paris and London, opening stores across the globe and now bridging between Paris and our headquarters in London, I have had plenty of experience juggling cultural differences, while integrating myself in multi-language teams.
We have the experience and expertise to ensure you build momentum, navigate the weather and surf that wave successfully.
Find out how we can transform your retail performance