4 Tips for a Successful Product Launch

You have put weeks, if not months, into envisioning, designing, and creating a brand-new product line for your business, and it’s time to finally present it to the world. Whether you’re a boutique company, a massive corporation, or an entirely fresh name in the game, what comes next will determine not just the success rate of that product, but the financial stability of your business as well as your brand reputation. Much like you never send a crew of talented people to create a product from scratch without doing your research first or without giving them a budget scope, you shouldn’t tackle your product launch with any amount of spontaneity.

In fact, this stage of your brand’s development particularly deserves strategizing and innovation, so as not to bury your product in a sea of constantly arriving new products by other brands in your industry. With so much competition around you, and a need to stay memorable in the eyes of your consumer, you need to prepare yourself for this step in order to make the most of all the previously invested effort to create the product. Here are the four tips you should take to heart and transform your product launch from a dull process into yet another creative strategy!

Define your product goals

Much like every other segment of your business, the product launch depends on each goal and milestone you set to achieve, before, during, and after the launch. It’s far from enough to say that you want higher profits or more brand awareness, because these general terms should be driven by more specific, realistic, and most importantly, measurable goals. First of all, what problem does this product solve for your audience? How does it fit into their lives? Do you wish to strengthen the bonds with your current customer base or expand into new markets?

All of these and many other vital questions will define your final strategy. Answering them will show you where you should aim to advertise your new product, when and how you should communicate its purpose to its customers, and the like. While your product is still in testing stages, you can adjust your goals based on its capabilities, and make sure to keep an eye on your achievements throughout the launch! This will give you a powerful learning curve to give your brand a chance to brace for new product launches in the future.

Know thy market

There can be no successful product launch without happy customers as the end result. And who better to ask then the audience itself if your product is ready, fulfills their expectations, or even exceeds them? By using various methods such as text messages, surveys, and trials, you can get customer feedback that will ultimately help you shape the product, as well as the launch itself. The information gained through collecting feedback can help you spot unsolved issues, flaws in your product prior to launch, and the finest qualities you should emphasize.

It will also give you a better idea of the best communication channels to disseminate the news, the most suitable language to use in the process, and if there are any specific pain points you can address through your product that your customers prefer. Getting feedback doesn’t have to be limited in the preparation stages of the launch, but you can keep asking for more input throughout the launch and post-launch as well.

Get in touch with the right people

In addition to your customers and your audience in general, there are other relevant sources that can on one hand give you feedback, and on the other, provide you with the needed publicity and coverage when the launch is in the works. Social media teasers in various forms have been used in different industries to create ample buzz around a product, but add to that the face and the popularity of an influencer, and the hype will skyrocket exponentially.

Seeing snippets of videos, or images of them using your product and their reactions to it can be more than enough to inspire your audience to start following your brand’s new line of products before the launch. They will also be more likely to engage in a conversation around your product, comment, share, and react to everything that you and your influencers post. What’s key here is to ensure your supporters are genuine and honest in their reviews.

Rely on social media

People like to feel special, and playing on that particular emotion may be the best way to grow interest and visibility on social media. By providing snippets and sneak-peeks from your product line, you give your customers a glimpse of your offer. They then know they are in a group of select few of people who have the knowledge before the rest of the world, because they already follow your brand pages. The suspense that results from such efforts is more than enough to get even more people on board by the time your product is ready for launch!

Include some of the following content to get people excited:

  • Behind the scenes videos from making your product and the people involved in the process
  • Short updates on the process and the team members’ excitement
  • Announcing influencers taking part in the project
  • Setting up polls to see the preferences of your followers
  • Advertise upcoming giveaways and discounts
  • Allow people to pre-order products and provide discounts for that first batch of orders
  • Educate your audience on the value you offer through your product
  • Hold webinars to answer your followers’ questions

 

Although a brand’s name is sometimes all it takes to get your audience excited, you can still benefit from an approach that lets you use various strategies to engage with your customers. Use these tips to strategize your launch, and the hype will be all the greater for it!