Product launch is one of the most crucial time for any product, that decides the fate of the product. Executing a product launch with a proper plan and strategy would yield better sales and similarly a failed planning will lead to negative feedback for the products. Successful entrepreneurs plan a product launch way before developing the actual product so that they have sufficient time to plan and execute the launch strategy. According to stats the chances of a product failing is quite high compared to the ones producing positive sales, therefore it is very important to do product launch with utmost planning.
Product launch is a long and time-consuming process, that involves proper product development, planning, marketing, and research. All the departments should work simultaneously to produce a successful product launch.
We have discussed some important checklists that you should take into consideration before actually launching your product blindly.
Market insight Market research is a significant step to get insight into the market and should be done way before developing the actual product. This would provide enough time to develop a specific product that would fill the void in the market. The product should have sufficient demand to produce enough sales to keep the company profitable. Also market insight help in sorting the right audience for your product. Knowing your potential user base beforehand helps in the development phase and also in the marketing process. These potential buyers can be then specifically targetted in the later stages.
Marketing strategy Once you are done with the market research the next step would be to plan your marketing strategy. Since you have a lot of data after the market research phase, you know you have to turn this useful data into a marketing strategy. This would help you increase your product reach after product launch. The marketing strategy can be done using different mediums for example through email campaigning, google search and display ads and using other social media platforms to promote your upcoming product. This would keep the user ready for the product launch, which is always better than the last moment promotion.
Product description It is very important to portray your product accurately. Instead of writing an overall description, describing the product in detail by highlighting its unique features would help in gaining relevant traffic to your site. Also, this would give your audience a clear image of what you are offering and what to expect from your side.
Beta-test Before actually releasing your product commercially it is always advised to run a beta-test, this would let you know of any possible errors beforehand itself. Beta-test can be done by providing free samples and asking people to review your product. This would help in getting the real feedback about the product and the suggestions would help in improving the product quality. Also, these people can be used as a marketing method for promoting the product even before its release.
Landing Pages for the product It is always advised to design specific landing pages for each product this would help the audience connect with your product more efficiently. Also landing pages should be in such a way that it keeps the user engaged with the page. Deploying of landing pages can be done during product launch, but keeping the pages ready beforehand can reduce the last-minute chaos.
Prepare a backup plan Even after proper planning, there are chances for product launches to go in the wrong direction. Even big companies have faced similar situations. Therefore it is better to keep a plan B ready if Plan A doesn’t work out. Running for a solution at the last moment would lead to bigger disasters so keep your backup plan ready.
Pre-launch Marketing Start executing your marketing strategy and try to reach as many customers as possible. More the number of people aware of your product launch more is the conversion rate. Use platforms like Google, social media sites to promote your product launch event. Also, you can reach out to bloggers or paid promoters who could spread the news for you.
Finalize and launch your product Once all things are set up, the next step would be to cross-check everything. Ensure that every checklist has been completed no loopholes are left behind. Now do your research about the best time to launch your product, because the number of impressions your product would receive would vary with different timings. Check the time with most traffic online and launch your product.
A product launch can be quite stressful without a proper plan therefore always make a plan and stay ahead of time for proper execution of product launch. We hope this blog would help you understand how to launch a product properly and what is the key point that needs to be taken care of.