Time to expand your businesses offering, whether by launching a new service or product? You’ll need a product launch plan. You might think an additional service or new product launch means nothing more than adding an extra page to your website. But you should be aiming for maximum impact on brand awareness, customer experience, and your bottom line. So, if you’re going to do a product launch, do it properly.
1. Make a product launch checklist
Unfortunately, a product launch checklist doesn’t solely consist of “launch the product.” There are lots of steps before that, including:
Defining the timeline
Finding the USP of your new product or service
Designing promotional materials for your new service or product
Aligning your team’s capacity to launch tasks
Investing in a media, content, or marketing plan
This takes time, so make sure you start early.
2. Know what you’re selling
If you want people to be excited, you have to give them something to be excited about. What does this product signify for your brand and for your customer? Is it the start of you working with a whole new demographic? Does it position you as a more affordable or premium brand? Make sure you know what your product launch means for the bigger picture. Do all your channels match the image you are trying to create? If not, your customers may not believe you when you say your launch is worth getting excited about.
3. Find the best influencers to work with
Reach out to influencers, publications, and websites to drum up some excitement. These individuals get dozens of product launch emails every day, so make sure you’re offering something of value. Be creative, so you can stand out among the crowd.
4. Give away something for free
You might not like the idea of doing something for nothing, when is the last time you refused to take something that was offered for free? Giving away a free item to celebrate product launch day, whether that’s a physical product or a digital eBook, can be a much-needed addition to your product launch formula. Plus, you can gain extra insight (i.e., email addresses for lead generation) this way.
5. Be a tease
Hype may seem like a buzzword, but it’s imperative to the perfect product launch formula. Reach out to your customers via email, social media, and via your site with little teasers like “coming soon” or “exciting news very soon!”. Even if your launch isn’t the most exciting thing happening on the internet, you’ll have piqued your customers’ interest, and maybe gained the attention of some new ones. If you’ve done customer segmentation analysis and you know which group your new product launch will most appeal to, then make an extra effort to reach out to them.
6. Consider an introductory offer
If you want to see those sales pouring in on product launch day, you have to make it worth your customer’s time. Consider an introductory offer that runs for a limited time, giving your product an air of exclusivity and pushing people to make the purchase ASAP.
7. Tell customers what they need to know
Do you have everything customers need to know about your new product? Make sure you dedicate a portion of your product launch strategy to customer education. If it’s a new service, what makes it better than your old offering? If it’s a new product, why is it better than your competitors? Make sure these UPSs are front and center of your channels in ways that are easily digested, i.e., infographics, images, and snappy copy.
8. Don’t give up after product launch day
You’re unlikely to have a marketing powerhouse behind you like the world’s biggest brands, so don’t be downhearted if your launch doesn’t break the internet, and certainly don’t give up. Launch day is just one part of the product launch plan, now you have to keep up a great customer experience so that word-of-mouth and positive reviews can do their bit.
9. Keep up the engagement
Don’t let your new product or service fade into obscurity just because you’ve fulfilled your product launch plan. Make sure you mention the new offering across your channels on a regular basis, or keep a hero image on your homepage.
10. Don’t abandon the strategy
Once you have a product launch strategy underway, don’t get in the habit of changing it just because things aren’t going how you expected. If you realign your plan, you may undo all the good you’ve done so far. Even if it really does fall flat, regroup and consider what needs to be adjusted. Don’t simply make panicky additions to your strategy.
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