“Tough times are the best times to launch new products. Customers are looking for value, for alternatives, to save money, to make their business more competitive, to better their lives. In tough times, customers are more willing to change than they are when life is easy,” says author Jeffery Fox.

Product Manufacturer Investments

Many building product manufacturers try and save money during tough times and are unwilling to invest in a new product launch. Building product manufacturers might think that investing the capital is too risky or won’t deliver ROI. Research and development is crucial for manufacturers to stay competitive and to get specified by architects . Innovation leads to a successful future. Stagnation can sink a company.

Small companies, mom and pop shops, etc. might not have the funds to invest heavily into R&D. However, there might be venture capitalists, public resources, and other opportunities for smaller companies to launch new products. Medium to large sized companies have the ability to purchase acquisitions, buy patents, and hire employees to increase R&D.

Motivate Product Reps

A new building product can motivate sales and marketing folks. New products give your product reps a reason to visit architects, specifiers, contractors, interior designers, engineers, and LEED APs. Architects and designers enjoy learning about new cutting edge technology that can contribute to their building projects.

New products can help wage war against your competition. New building products create buzz and excitement in the marketplace. Products take up space on the shelf, they get exposure via social media, and they help motivate products to sell. However, to launch a new product successfully, you must have the resources allocated for a successful launch.

New Product Launch Tools

The American Institute of Architects (AIA) launched a major study this past year which provided several insights into the product specification process. Education was one of the critical factors that the AIA identified for product specification. AIA members must take 18 hours annually to maintain their membership. There are over 90,000 AIA members so there is a heck of a lot of opportunities to educate decision makers about your products.

Building product manufacturers can help launch their new products by developing free AIA CE courses , webinars, and face-to-face lunch and learns. Free AIA architect courses offer a significant way to build relationships and increase product specification opportunities. Pro tips for developing a successful AIA CE course are:

• Avoid the PDF format! Architects dislike the PDF format as a primary resource. Don’t waste your money on an antiquated format with poor ROI!
• Invest in video and professional photography for your AIA online course. Crappy photos, poorly lit shots, and video shot by your forklift operator won’t cut it.
• Invest in webinars . If you want to educate 200-400 architects in 1 hour this is the solution to all your problems.

Overall, building product manufacturers need to invest their money wisely when launching a new building product. Manufacturers need to gauge ROI from the services they invest in and AIA online education can deliver a mountain of data to prove it’s worth. How does your company launch a new building product?