Launching a new service or product? Then you’re going to need to create a winning product launch if you want it to start strong. But how do you do that?
A product launch is tricky because in most cases, you only get one chance to get it right. That’s why we’ve put together this article – to help you get it right first time round.
Let’s get started.
Establish your goals
You can’t measure the success of your product launch without understanding what it is you’re trying to achieve. The goal of the product launch is going to be much smaller in scale than say, the overall goals of your business. But you may decide that you want to increase customer base or improve market share with the launch.
Know your target audience
If you want to run a successful product launch you need to know your target audience inside out. Figure out why it is that they specifically need your product, what makes them tick, and who influences them. With this audience profile you can start to generate messages for them, and come up with ways to reach them – i.e using a celebrity to endorse your product.
This incorporates everything within your product launch; a concept of sorts. You’re going to want to tell the story of your product within it; show off product specifics; attract buyers to it; and generate special offers. Make use of social media and PR tactics to generate a buzz.
Think carefully about where you’re going to market and promote the product you’ve created. Keep them aligned with your target audience – the most common are to hold product launch events, creating press releases, and creating online offers.
The only way to learn if your product launch has been a success is to look closely at the goals you established at the start and track how you’re faring during the launch. Measure each option individually so that you can tell whether one is more successful than the other.