Do you have a new product to launch? We have compiled the ultimate product launch checklist. Learn how to successfully launch a new product here.
Every business in this day and age will have a new product (or service) to launch. This could be a one-off or something that is held on an annual and ongoing basis. Irrespective of you working on your first product launch or if you consider yourself and seasoned professional, there are similar requirements that can be taken to ensure that it is a success for your business.
How to successfully launch a new product?
What are your Goals?
Before working on any product launch you need to objectively analyse what the core goals are at the end of the launch. How will you define success? Is there a particular number of views, sales, pre-orders, registrations that you need to quantify to determine success? By anticipating the end results before you even start working on anything you can then work backwards to breakdown each area to better focus on.
Working with Influencers, Brand Ambassadors and Super Fans
In order to help create all that buzz and hyper before, during and after your launch you need to work with a variety of fans. They all bring something different you’re your business and future customers. When connections are well made with these groups you will find that gaining future momentum in interest and sales may not be possible without them.
The Influencers – Ideally you are already working with a small number of influencers for your brand. But even with a completely new product you should be able to find influencers on YouTube, Twitter, Instagram or any other platform easily. They key thing to keep in mind is that they must be a good fit and genuinely have an interest in the area or field that your product segment is in. If you were to pay them, offer them free products for themselves or their own audience or featured them on your own official channels it is important to know from the start that they already are passionate in that field. Work with these key influencers before the campaign starts so that they can help build awareness around the launch.
The Brand Ambassadors – An ambassador must be treated differently that an Influencer and Super Fan. They are loyal to your brand, product, service and have been since the beginning. They go above and beyond informing friends, family, co-workers and strangers about how fantastic your product is over others. By creating an exclusive ‘Ambassador Program’, you can utilize their strength in helping the community and spreading awareness. Remember that influencers will likely be paid for posts, appearances, attending the launch. Whilst the Brand Ambassador will be happy to volunteer their time and help in any way possible. You may offer them products, invite to the launch, exclusive items, gift bags etc.
The Superfans – Finding your superfans can be easy depending on your goals. These are the ones that will likely pre-order the product when it is first announced. As such rewarding them with extra items, exclusive models, invitation to the launch or other unique items is important so that they feel rewarded and valued. These early adopters will keep the buzz and excitement alive once launch day arrives.
Plan and Schedule
Make sure to plan everything as best as you can from pre-launch, launch and post launch. By breaking this down into these three key areas you should be able to plan everything required to build up hype, pre-orders and interest. After the launch your goal should be to keep that momentum and buzz up as high and as long as possible. This can be achieved by creating new content on an ongoing basis that can be easily shared by your customers resulting in new visitors, new customers and further sales.
Why most product launches fail?
Now that we have looked at a few requirements to create a successful product launch it is important to understand why most product launches fail…
There are a variety of reasons that any particular product launch can fail. This can be due to bad timing for a number of reasons. Perhaps a competitor has launched before you or alternatively by the time you are ready to launch interest has moved to the next big thing. Pricing is also a major factor to launch fails. Offering a price that it too high will cause potential customers to avoid researching and generating interest for themselves. At the same time if your price is too low then customers will consider it lower quality, poorly made and will look elsewhere for the better version from your competitor. Another reason product launches fail is that the product was simply not needed in the first place. The product has to fix some sort of issue no matter how large or small. If it fails in this area then why would anyone purchase it.
How to launch a product online?
Utilize your website to its full potential
This can include a feature landing page, blog posts, interviews, articles, Q&As, Podcasts and even YouTube Videos. Your new product should have a variety of content across all your platforms directing to your official website. This is where you want to ideally drive all your traffic. Perhaps having one unique URL specifically where all new visitors will start their journey on your page. Remember to only offer a sample of what your product offers initially. You are trying to ensure that visitors will click on the links, video and articles for more details. Think of recent product launch pages for a new car, phone, smart TV or any other product that you may be interested in. Have a look at what those pages look like upon first appearances.
Emails, Newsletters and Social Media
Once you have clearly defined your goals, objectives and overall outcome you can start sending out key messaging to tease the launch and get a sample of who is interested. This can be achieved by setting up a simple registration form to get an estimate of numbers. Alternatively, a simple link to a landing page on your website for more details can be a very effective way to measure this. The best thing to do at this early stage is to try and contact as many current customers/fans of your business directly.
Work on your SEO
Make sure that you spend a great deal of time improving your Search Engine Optimization. This will benefit you in the long run as you want to ensure that key words and phrases search for will naturally point to your product page. Making sure your site is clear, mobile friendly and has a variety of relevant content is of highest importance. Use the keywords that a new customer would use when thinking of your brand or product and not necessarily the words your marketing team would use internally.
There are many other tools and techniques that can and should be used in order to create a successful product launch. Try to work best with the online tools that you have available at the moment and always think of new ways that this can be improved for any future launches.