Blog

Get expert advice on every topic you need as a small business owner, from the ideation stage to your eventual exit. Our articles, quick tips, infographics and how-to guides can offer entrepreneurs the most up-to-date information they need to flourish.

Subscribe to our blog

Accounting

Approaching Uncertainty

Finance

Insurance

Private Equity

Professional Services

Small Business

Startup

Taxes

Startup

How to Plan a Successful Product Launch

Posted by Kanika Sinha

August 14, 2017

Not only is your staff excited, but you can’t wait to show your new product to the world.

Yet, for many startups, all the work goes into creating and developing the product and not in the launch.

To help you get ready, let’s look at how to plan a successful product launch so your new product takes off with momentum and fanfare.

Pre-Launch to Influencers

Your first step is to take your product to the influencers in your market. This may be bloggers, reporters or even some of your customers.

Send your product to them and encourage them to use your product and then write reviews.

You can also take a note from Apple’s playbook. They have the ability to get people talking about their new products before anyone has even seen one of them in its beta format.

Apple gets people all over the Internet talking about the products months before launch date, and all they’re doing is speculating.

How can you emulate Apple? Get to know the media in your market. Meet with them and send press releases – let them know what’s coming and hopefully they’ll take the bait and run with it.

Working with influencers helps you get the word out before your product launch and helps you move quickly.

Talk to Your Audience

We’ll assume that you researched your target market, and you and your team are fully aware of the needs of your target customer, which is why you developed your new product.

Your next step is to talk to your audience. The goal of your launch is to tell your target audience just exactly how your product will change their lives or at least make them better.

You don’t want to talk about the product – you want to talk about how it affects your customers.

For example, if you’ve launched a new GPS mapping system, don’t get caught explaining the features.

Do get caught telling your target how each feature improves their chances of ending up at the right location and how your customers don’t have to push any buttons because the whole system is voice activated, also making it safer to use in the car.

Go out of your way to point out each feature and frame it in such a way that shows how the feature solves your customers' problems.

You’ll find your customers are more excited and eager to try out your new product once you’ve explained to them that it will improve their lives in some way.

Remember to focus on the people and not just the product.

Host an Event

An event is a great way to launch your product.

It’s sure to get you some press, you can use tools such as Facebook Live to promote it, and you can invite the press, influencers, current customers, and your target audience.

Take Pre-Orders

This helps you build buzz months in advance of your product launch.

Consider entrepreneurs on Kickstarter. They start generating buzz the minute they post their products because they are also taking pre-orders. This gives validity to their product while building buzz.

It just might do the same for your product launch.

Plan Your Marketing

Involve your product team with your marketing team in the early stages as you plan your strategy. You’ll find that your product team has a lot to offer in the way of information.

Then, you want to make a plan that includes the following:

Press releases
Visits with media and influencers
Teasers
Social media
Email marketing
Pay-per-click ads including social media and Google AdWords
Your website
Videos – these can be product specific, but you definitely want to include some that grab your target audience – they can be funny, thought-provoking or emotionally compelling
Events
Live Video
Trade shows
Webinars and white papers

Final Thoughts

Follow the steps mentioned here to get started planning your successful product launch.

Review your analytics on an on-going basis, test your promotional channels, and revise/adjust your strategy as necessary.

Continue with your product marketing well past launch day to keep the buzz alive and encourage more customers to make a purchase.

Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.

Image: Tim Mossholder on Unsplash

Newer Post

Featured Downloads

Finance

Blog

Subscribe to our blog

Startup

How to Plan a Successful Product Launch

Pre-Launch to Influencers

Talk to Your Audience

Host an Event

Take Pre-Orders

Plan Your Marketing

Final Thoughts

Featured Downloads

CFO Recession Insights Ebook

Great Companies Are Born in Difficult Times

14 Financial KPIs to Help Track Your Business’s Progress

Related Stories

Why more startups may fold following the SVB collapse

Why startup founders fail: Over-leveraging, capital struggles, and talent acquisition challenges