Utilizing Public Relations throughout the Entire Product Lifecycle
Public Relations is an often underutilized tool when marketing to consumers and medical professionals throughout a product’s lifecycle. While pharmaceutical and biotechnology companies have long used public relations, few companies have actually utilized the full potential of PR campaigns across the entire product lifecycle. The immediacy of new media, such as websites, online social networks, and blogs, has enhanced the opportunity for shrewdly timing and executing PR activities throughout the product lifecycle.
The arsenal of PR tools is instrumental in many brands’ successful market-entry planning up until the tail-end of a brand’s lifecycle. Understanding exactly how various public relations’ strategies, tools and tactics can be employed across the product lifecycle can be a challenge. Luckily, through our recent research we found the winning strategies that best-in-class organizations are utilizing at each stage of the product lifecycle in order to encourage overall brand success.
- Pre-Launch: PR tools were ranked as most effective during the early stages of the product lifecycle. The early years are fertile ground for PR. During the pre-launch period, press releases were a clear favorite among the various PR tools available. Companies also found that beginning to draw visitors to their websites is another way to seed information and guide people to educational resources about the disease state.
- Market-Entry: The most effective PR-related tools that can be effectively applied during market-entry are traditional approaches to disseminate information through media, trusted experts, Internet sites and educational events. PR plan integration and coordination are key.
- Late Phase: More than 50% of research participants noted key PR tools that work well in the late-stage lifecycle. Late life-cycle PR tactics can be useful when trying to reach untreated populations, new sub-populations and to extend the brand relationship with patients. Savvy late-life brands extend their reach through PR campaigns that serve Online Communities and Social Networks – all of which are also useful in brand transition strategies.
Understanding how to use properly public relations throughout a brand’s lifecycle can help to raise awareness of a brand, while also extending mature brands and allowing them to continue to grow. Public relations is a flexible tool that can certainly play a significant role in preparing, launching, growing, and extending the commercial life of a brand.