Constructing a model of the Eiffel Tower with 706,900 matches over eight years may appear to have little relevance to a product launch, but the fact that it was disqualified from world-record status because it used the wrong type of matches serves as a graphic warning.
Labouring with intense focus and unswerving attention to detail is a fundamental of pre-launch planning, but the fallout from not assessing and understanding the market can be catastrophic.
Richard Plaud innovated his intricate design by cutting off the red tops of matches. It helped his modelling but the exquisite shortcut breached regulations, which he only discovered at the unveiling of his 23ft tall labour of love.
Few organisations will get it that wrong, but the pharmaceutical launch pad is scorched with failure and the debris from misfiring projects, with analysis from Trinity Life Sciences revealing that 62% of biopharma products launched between September 2019 and December 2021 ‘underperformed expectations’.1
Sticking to routines and mechanisms that served well over previous generations of launch will not insulate against the fierce failure rate of the current, volatile climate infused with the often competing interests of patients, HCPs and healthcare systems set against the constant drum beat of digital change.
While advancing science has improved treatment potential, it has also created crowded launch arenas with multiple products jostling for attention and commercial success. Sticking to launch templates created in the blockbuster era can create roadblocks along the product journey, and fine-tuning them may not be enough.
“Whether you’re launching for a small, breakthrough biotech or big pharma, the traditional launch playbook is not fit for purpose. It’s outdated and outmoded,” says Vernon Bainton, Chief Medical Officer at leading healthcare communications agency Havas Lynx.
“We need a new, responsive approach; simply throwing money at a launch is not the solution because it does not deal with the market dynamics and the seismic changes that have happened and are continuing to happen.
“The new playbook is built on a better understanding of your customer needs and the market dynamics. It needs a greater understanding of how our communications are consumed, digested, shared and enjoyed, and that allows us to problem solve and communicate in better ways, and have an ongoing relationship with our customers.”
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