So, are you on the verge of a new product launch and looking for the right way of doing this?
The first thing first, you need to understand that launching a product is never easy and you have got to invest your time and efforts in order to make the launching a new product successfully.
You have worked so hard to create an awesome product, now you want it to reach the correct audience in minimum time and in order to do so, you have to nail with your new product launch.
If you are doing it for the first time or you have done it previously but have not got the expected results then this is an article for you. Here I will let you know the ways to make your new product launch successful.
Before going deep into the post, you need to pay attention to one of the researches of Marketing Research Association, which claims-
Around 40% of the developed products actually make it to the market and then approximately 60% of those generate the expected ROI.
According to many experts, launching a new product can impact the sales of the product majorly.
You cannot just go random with your new product launch and expect some magic. You are not going to gain customers like that; you will have to work hard for your new product release if you want to make it reach a wide number of relevant audiences.
To nail with your new product release you will need a big plan.
There are two important events in your new product launch:
No need to befuddle anymore, we are here to help you out with your new product launch by unravelling key idiosyncrasies of both of these steps-
First of all, let us focus on our Pre-launch:
Pre-Launch Stage For Your New Product Launch
Pre-launch is one of the most crucial portions of your new product launch. So, if you want to nail your new product release then you will have to nail this phase first.
Let us understand what the crucial steps in the pre-launch of a product are-
First of all, you should know about your product in-depth. It might be possible that your product team is designing a product which is out of your context and space so first of all have a conversation with your product team and inquire about the product. You should have a deep understanding of the product that you and your team is going to launch.
From vision to the market of that product; you should know about everything related to that product. You must know about the targeted audience and their needs as well. In order to have a successful new product release, it is must to know the expectations of your targeted audience because then only you will be able to impress them.
2. Let The People Know
You are launching a new product and you don’t want your targeted audience to miss that launch event, for that you will have to inform them but how? Through press release. Yes, you will have to write a press release specifically designed for that launching a product.
You will have to provide information about your product in a very effective and engaging manner. This press release can do wonders for you so don’t take it lightly. Bigger fishes like Amazon, Hubspot, etc write press releases before their actual launch event so how can you miss one?
While writing the press release make sure that you are not overdoing with anything. If your audience is getting annoyed after reading your press release then it can have detrimental effects on your new product launch. Make sure that everything seems natural in your press release and you are over-promising as well. The press release is going to be a method of communication with your targeted audience so take it like that and make it engaging.
Now share this message to the maximum number of peoples. You want to gain as much traffic as you can so focus on sharing. Spread the message and you will get great support.
3. Go For Beta
You have developed a new product and worked hard into that, you don’t want it to fail when it comes to delivering results to you. Nobody is perfect and you can never be 100% sure if there are no flaws with your product.
Certainly, there will be certain minor as well as major issues but here the crucial point is how to find and fix them. One of the best ways to detect flaws in your product is to get it tested by the right users but how will you do that? You have planned to expose your product to your audience after its launch. Beta testers are the perfect solution to this problem.
Find those who are just like your targeted audience and let them try your product and detect if there are any flaws as such. If there are no flaws you can also ask them to provide relevant suggestions to improve your product.
Sometimes a third person perspective is really important to do a proper analysis of any product. Now you got to set a team which will keep an eye on the beta tester’s review. A separate team must be there to execute the suggestion and fix the flaws as per suggested by beta testers.
It is one of the best methods to fix the flaws in your product. You must have a group of beta testers from whom you can get the feedback regarding the product. You let them use the product, share their experiences and then you evaluate those feedback hence you get a chance to remove the shortcomings before launching a product. Most of the reputed brands follow this strategy and earn the trust of their customers in the first go.
4. Set Your Goals
Always have ambitious goals because it gives you a target that you strive to achieve.
Before the actual launch of your new product set a few goals in your mind like what leads do you expect? How much profit do you expect? And so on.
If you do this, you are actually giving shape and target to your campaign. Don’t go for a target less journey. If you are expecting 100 points and you are getting around 90 then that means everything is right and you have almost achieved your goal but if you are only getting to 50-60 then surely there’s something you should think of.
Setting your goals is another way to understand your potential. If you are not aiming up to your potential then it is surely not going to help you in the long run. Getting good results is easy when you have better goals. Dream big and achieve big.
5. Develop The Launch Set
You are almost there and the moment has arrived. You are soon going to launch your product and it is the time to create the set. Your launch should not look dull and boring. The more creative it will be the more will be the chances of success.
Don’t wait too long and start building the launch assets. Do you have to tackle so many questions like how will they purchase your product? Are you going to give a free-trial? And so on. You will have to find answers to these questions before you actually head towards the launch event.
Start writing creative and engaging emails to drive traffic. Once you are done with this, it is the time to prepare the website, pages, videos, social media posts and so on. Prepare a final document where you will input details about a product like; pricing, planning, market analysis, and other information.
You have done everything right till now and it might look that everything is going fine but you have not to stop here. Do not lose momentum and set up the launch set by giving your 100% into it.
It is one of the most important phases of your launch event and you surely do not want to fumble here. Check if everything is OK?
And if there’s any flaw get it fixed as soon as possible.
Since there are a number of platforms to launch your products their launch procedure is also different so make sure that you are well aware of each and everything.
Let us move to our next phase.
Now your pre-launch phase was successful and it is the time for your new product launch. Though this phase is going to be shorter than your pre-launch it matters a lot. You will have to focus on a number of things during your launch which is mentioned below:
Things To Pay Attention To During Launching A Product
(i) Make sure that you are launching a product on the right channel or platform. You don’t want to choose a channel where you will not get any traffic. In order to showcase your product before the targeted audience, you will have to choose the channel which is comfortable for them. Before the launch make sure everything is OK and your team is all set for this milestone.
(ii) Have a proper conversation with your sales team and make sure they are ready to handle the demand for the product. As soon as you are finished with the launch, you should start coordinating with your sales team. Boost up your marketing in order to get the best reach. It is advised that your sales team should meet the customers directly if you are launching your product in an event.
Now your launch is over and you have nailed everything perfectly but is it done?
No, after your new product launch you will have to focus on the post-launch phase which is also very important. Most of the people do not pay attention to this phase but actually, it can leave a great impact on your overall sales.
Read to know more about this phase and how can you perform brilliantly over here:
Post Launch Phase Of A New Product Launch
(i) During your launch, you might have reached a wide number of audience and have influenced so many of them but don’t stop here. Rather carry on with your emails, free-trials, demos, etc. You want as many conversions as possible and it is the best time for that. Talk with your sales team and marketers to make your product reach as wide as it can. Be creative with your efforts. Have conversations with your targeted audience and it will definitely help in building their trust in your product.
(ii) It is advised to evaluate your launch event and check what were the shortcomings and where it was up to the mark. This will help you with the marketing of the product. Think of new and innovative methods to influence customers and increase the overall sale of the product.
(iii) Once you have started getting leads with the right lead generating techniques and people are showing interest in your product it is very crucial to make them stay. You don’t want to lose your customers in the initial phase itself. Marketing is no doubt very important but while you are focusing on earning new leads also focus on those who are already your customer. Don’t let their trust go down and enhance your product’s reputation.
The launch is probably the most important phase of your product’s sale. Sale of a product depends a lot on how you launch your product. You need to focus on a number of factors if you want to nail with your product’s launch.
It is never easy to put everything together and execute your plans but by following the above mentioned tips you can surely work upon your expectations. A lot of people have this wrong conception that launching your product is all about that D-day but that is where things go wrong. If you are not focusing on your pre-launch and post-launch of your product then it might leave detrimental impacts on your product’s sales.
So this was all about how to launch a new product. It is never easy to launch a new product in the market and you don’t want any issues as such. You want everything to go perfectly fine as the launch can become a deciding factor in the overall sale of your product.
Follow the above-mentioned tips and methods to get the best out of your new product launch.
Joining the Inbound Marketing Certification Course will enable you to learn and implement the best new product launch practices.