An idea is worthless unless you take it to market. Somewhere along the way, you need to learn how to launch a product to get it in the hands of your target audience. Otherwise, it sits in development hell and turns into a money pit.
Most think the timing is the critical component of launching a product.
There are many other factors from aligning the branding to social outreach. This article will share what you’ll do in the events leading up to the launch. And, cover the post-launch essentials to make your product launch a success.
How to Launch a Product: Step-by-Step
A business may spend upward of $100,000 in hardware development costs. In comparison, software development may run between $20,000 to $80,000. That’s no drop in the bucket for a startup, small business, or operation tight on budget!
Launching a new product is a make-or-break moment for the business. Rather than relying on chance, follow these steps to improve its market entry:
1. Align the Product to Its Users
Products should satisfy a need or solve a problem within your market. Aligning the product to its users dictates underlying decisions going into the launch.
What areas do the alignment affect? Consider:
You’ll align employees during the product development stages, too. This helps them understand the product to better promote and support it post-launch.
2. Create Template Campaigns and Supporting Rules
Your goal is launching on an epic scale if the budget permits. A massive roll-out has you tapping every available marketing platform. The giant “push” maximizes the launch campaign’s reach, sales potential, and feedback.
Begin the pre-launch by creating brand guidelines (like what you see via MAGFAST). Use brand design guidelines to align the graphics, social media, and outreach materials.
You’ll also create the following:
- Blog post and PR article formats
- Response messages for Twitter and Facebook
- Outreach emails and LinkedIn messages
The templates — and rules you set for using them — streamlines the campaign. Plus, you’ll avoid miscommunication if it’s coordinated by several teams. This is where the rules come in, dictating who and how messages get sent.
3. Take Preorders and Get Early Adopters
You’re in the pre-launch phase.
The pre-launch is the critical moment where you’ll discover:
- Customer feedback and concerns
- Insights of what works for the campaigns
Preorders begin the initial excitement if you encourage word-of-mouth. You’ll also use this moment to get the product to influencers and early adopters. They’ll provide feedback while hyping the product, ushering in a strong launch.
4. The Launch and Post Promotions/Support
- Roll out marketing campaigns on all channels
- Bring on temp talent to handle surge orders
- Monitor and respond to customers on social media
Your combined efforts with the influencer crowd may spike the launch. Continue this hype by doubling down on customer support and promotions. Then, tap your customer list through drip promotions if they haven’t bought.
New Products are a Gamble, Fingers Crossed!
There is a huge difference in learning how to launch a product vs what goes on during the actual launch. You’ve got to stay agile and adapt as the market reacts because a clean launch is virtually unheard of.
Tap the business community for support and guidance.
Come visit our entrepreneur and small business forums. There, you’ll find many others in the midst of their product launch — reach out and coordinate!