How to Launch a New Product with Hunter Shields
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In the 41st episode of the GDMS Marketing Podcast, we discuss how to launch a new product with Hunter Shields, Partner at OoBlock.
In this episode we cover:
We also discuss the following:
- How crowdsourcing helped identify the Zodiac Killer
- How to use crowdsourcing as a business tool
- How to identify niches in the market to launch a new tool
- A marketing minute with Matt on what how to create a new brand strategy
How to Launch a new pRoduct?
How to Launch a New Product checklist
- Launching a new product starts by first identifying a niche in your market. A niche could be some area of your industry that is untapped or something current customers are providing feedback on, but the current players are not helping the customer base by providing what they want.
- The next step to launching a new product is understanding how your product differs from the other options available on the market. The niche you identified in step 1 should help you in this area. This is what makes your product unique compared to your competition.
- The final step before launching a new product is putting together a new brand strategy. After identifying the business niche, and fully understanding what makes your product unique, you can take customer feedback and create a new brand message, and clearly define what you want your brand to look and feel like.
In-depth INterview on how to launch a new product with Hunter Sheilds Partner at ooblock
How to launch a new product for your business
Our interview this week was with is Hunter Shields, Partner at O0Block. In the interview, we discussed how to launch a new product including:
- How Hunter originally got involved with manufacturing?
- What Hunter did before he started working on his new product OoBlock?
- Hunter discussed how he and his partners came up with the idea for OoBlock?
- Hunter discussed the need in the market that he and his partners uncovered?
- Hunter discusses the areas of expertise his partners bring to the business
- Hunter discusses the challenges in how to launch a new product completely to market
- Hunter describes the OoBlock brand
- Hunter discusses how they built awareness around the product and your brand
- Hunter discusses when he and his partners started to develop their digital assets and whether that was before or after the product was launched?
- Hunter discussed how OoBlock acquired a couple of high-end customers and how those customers learned about OoBlock and their new athletic tape?
- Hunter discusses how OoBlock got buy-in from these high-end customers
- Hunter discusses his favorite A list horror film (good quality horror film) and D list horror film (Terribly made horror film, but you are going to watch it either way)
- Hunter tells us his favorite Hokie in-person sports moment is and his favorite sports moment
"According to publicity.com, 95% of the 30,000 consumer products that are launched annually fail. "
glorious marketing of the week
Before you start reading Check the Ad out for yourself by clicking on one of the pills
A group of internet crime detectives known as “The Case Breakers” has uncovered what is believed as the real identity of the infamous Zodiac Killer. The Case Breakers used a common marketing tool known as crowdsourcing to identify the Zodiac Killer as Gary Poste.
Unfortunately, Gary Poste will never be brought to justice, as he passed away sometime in 2018.
What is crowdsourcing?
Webster’s dictionary defines Crowdsourcing as the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers
Crowdsourcing - A Top Marketing Tool
So how do Marketers use crowdsourcing? They use crowdsourcing via the internet to come up with new services, products, and ideas.
They engage the customer base directly and allow them to provide feedback to come up with new ideas and create improvements in their brand, service, or product.