Launching new products in the New Year can be quite an adventure, it's no secret that the road to success for any NPD is filled with many bumps and mostly arrives at a dead end. As reported by Harvard Business Review, a staggering 90% of new products face failure within their first year, despite the substantial investments by FMCG manufacturers in R&D, marketing, and advertising.
To help your new products have the best possible start in the New Year, we'll explain the crucial role of consumer reviews. Here are four compelling reasons why securing a good number of consumer reviews as early as possible is essential for the success of your new offerings.
PS For even more on why reviews are critical for NPD, see our post 10 Reasons why Shopper Reviews are vital for Successful New Products.