When do you start introducing different Brand Experts to help you with your brand development / launch ie PR agency, Sales Strategy and Retail expert, Product development and marketing etc?
This is a question I get asked all the time by clients that I have worked with and been lucky enough to meet through project work. Normally this question is asked when unfortunately it’s too late! The biggest challenge is when decisions have already been made and brand experts for various projects have been brought in too early causing haemorrhaging of cash flow or doubling up of work load.’
Each brand is different and subsequently requirements from various brand experts are different. However the same principles apply for any brand launching from scratch, at the point of creating and producing the product or entering the UK market for the first time. Essentially with each client the way we work is we understand the current status of the brand, understand the vision and if there are any current timeline restrictions (which could be based on financial or production). Once we understand the status it then becomes very easy to introduce the relevant brand expert at the right time and stage of the project. For example, if Investment is going to be required the Business Plan is only needed to be created once a clear understanding of the retail landscape has been defined, Buyers have been met with and a good understanding of retail expectation is confirmed. Completing a Business Plan to early at this financial level will only require duplication by another consultant in line with the financial team as this detail only gets confirmed and fine-tuned once retailers have been met with.
A PR agency should only be introduced to a brand and signed for once an understanding of retail distribution and launch timescales have been confirmed. The number of brands I meet with that have already secured their PR agency prior to even finalising their product and meeting with the retailers is a number too high to mention. This is a valuable agent to invest in, but you will burn cash too quickly unless managed in a constructive way.
Understanding each stage of a launch and the market you are entering is key, that way timescales can be managed and when appropriate the right brand expert can be introduced to ensure the company isn’t doubling up, wasting money and securing a return on their investment.
If this is of interest to you or you have made some of these mistakes and would like to hear more, please contact [email protected]