Are you getting ready to launch a new product? If so, you’re definitely not alone.
Every day, entrepreneurs around the world are launching new products into the market. However, not all of them are successful. In fact, according to Harvard Business School professor Clayton Christensen, there are over 30,000 new products introduced every year, and 95 percent of that fail!
So what can you do to make sure your product launch is a success?
In this blog post, we’ll walk you through seven of the most important ones. Whether it’s your first time or you’ve done this before, these seven key steps are what you need to take to ensure a successful product launch.
1. Plan your launch date
The first step in any launch strategy is to choose a date. This may seem like a small decision, but it’s actually one of the most important steps. The date you choose should be based on a number of factors, including the availability of your product, the timing of your marketing campaign, and even the season. Once you’ve selected a date, you can begin to put together the rest of your launch strategy.
2. Get help from experts, if needed
If you’re feeling overwhelmed, it’s important to seek out expert help. A product launch consultant can work with you to map out a launch strategy that takes all of these factors into account. They can also help you to identify your target market and develop a sales plan that will maximise your chances of success. With the right launch strategy in place, you can give your business the best possible chance of achieving long-term growth.
3. Prepare your marketing materials
A product launch is a critical moment for any business. Not only do you need to have a great product, but you also need to create a buzz around it and get people talking. One crucial step to product launching is the preparation of your marketing materials. This includes everything from your website and social media channels to press releases and fact sheets. Once you have everything in place, it’s time to start reaching out to media, bloggers, and customers. The goal is to get as much exposure as possible and generate excitement for the product.
4. Develop a digital marketing strategy and create content for your channels
One of the most important aspects of a successful product launch is developing a digital marketing strategy. This should include creating content for your website, social media channels, and email list that will generate interest and excitement for your product. Additionally, you’ll need to make sure that your website is optimised for search engine ranking so that potential customers can easily find your product when they are looking for it online. By taking the time to develop a comprehensive digital marketing strategy, you can give your product the best chance of success when it launches.
5. Set up a landing page
This landing page should be simple and focused on one thing: getting people to sign up for your product launch list. Include an attention-grabbing headline, a brief description of your product, and a strong call to action. Then, promote this landing page across all your channels – social media, email, paid advertising, etc. – to make sure as many people as possible see it.
6. Organise a launch event or webcast
By organising a launch event or a webcast, this will help create a sense of anticipation and build hype around your product. A well-organized event will also ensure that your product gets off to a great start, generating positive reviews and word-of-mouth marketing.
7. Monitor your results and make necessary adjustments
After all that work you’ve poured into launching your product, it can be tempting to just sit back and relax once it is finally on the market. However, that’s not the time to take your foot off the gas. It’s important to monitor your results after a product launch and make any necessary adjustments. Otherwise, you run the risk of your product falling flat and all your hard work going to waste. Keep an eye on your sales figures, customer feedback, and competitor activity. If you see any red flags, don’t be afraid to make changes to your product or marketing strategy. The goal is to ensure that your business becomes a sustainable revenue generating activity even after the launching hype is over.
Product launches are a critical moment for any business. But by following these seven steps, you can create a successful product launch that will get your product in the hands of consumers and help you achieve your business goals.
If you need expert advice in mapping out a product launch strategy, Women in Digital Business offers a free consultation that will walk you through every step of the process.
Check our available consultation dates here: https://calendly.com/natalianicholson/strategycall?back=1&month