When re-launching a product in the market through a different lens of value, how would you create the demand for it, and what campaigns would you run?
We did something similar at Brex with the launch of Brex Bill pay last summer. We had a simple Bill Pay product on our original platform, but were bringing it upmarket on 'Empower' - our more advanced spend management platform.
Existing Customers: As with any re-launch, it can create customer confusion so I always recommend starting from your existing customers. How can you ensure your new messaging and positioning appeals to them? We conducted customer interviews and even validated the new messaging with a quick survey prior to launch.
Campaigns: When re-launching a product, I have found that competitive campaigns can be the easiest to quickly change perception of where your product is in the marketplace. For instance, you may have seen Brex's "Concughhhh" campaigns (OOH, SEM, Social ads). This allowed us to quickly position ourselves in the T&E space against Concur, without necessarily addressing that we are primarily known as a "corporate card for startups."
Partnerships: I also think intentionally creating new partnerships (either through referrals partners, co-branded events, affiliates, etc.) can also add a lot of validity to your re-launch here.
Hope this helped!