Maybe it’s time to introduce a new service or product to your company’s line-up? You are going to require a plan for launching the product. You could believe that launching a new service or product entails nothing more than adding an additional page to your website, but this is not the case.
However, you should strive for the greatest possible influence on the awareness of your brand, the experience of your customers, and your bottom line. Therefore, if you are going to do a product launch, you should do so in the appropriate manner.
A new product launch can either make a lot of money or be a complete failure.
The day the new product comes out is the most important day, and you need to pay close attention to it. On the day when all your hard work is about to pay off, you don’t want anything to go wrong.
To make sure things go the way you want, it’s important to plan and test the launch months in advance. This will give you enough time to find the weak spots or make a list of things that could go wrong.
CREATE A LAUNCH CHECKLIST FOR THE PRODUCT
“Launch the product” is not the only item that should be on a checklist for the product launch. There are a number of measures that must be taken before that, including the following:
• Establishing the course of events
• Locating the Unique Selling Proposition (USP) of your new product or service
• Developing promotional materials for your newly released product or service
• Bringing the potential of your team to launch tasks into alignment
• Making an investment in a content, media, or marketing strategy
Because of the time commitment involved, you should get started as soon as possible.
LEARN YOUR PRODUCT INSIDE AND ALL
You have to give folks something to get enthusiastic about if you want them to get excited about what you have to offer. What does this product represent for your company’s brand as well as for the customer who buys it? Is this the beginning of your work with a whole other population type? Does it position your brand as one that is more inexpensive or one that is more premium? Make sure you are aware of the repercussions that the introduction of your product will have on the larger picture. Are you able to produce an image with all of your channels that correspond to the one you want to create? If you don’t, your customers might not believe you when you suggest that the introduction of your product is something that ought to be celebrated.
DISCOVER PPC ALTERNATIVES
Many businesses rely on paid web advertising, such as PPC. However, it is difficult to differentiate a product if you use the same advertising strategies as everyone else. Doesn’t that make sense?
Consider the case of Apple. During its patent litigation with Samsung in 2012, the renowned technology business divulged its marketing secrets.
When the corporation first decided not to pay for ads, positive evaluations sufficed. It not only generated a lot of attention, but it also brought a lot of legitimacy to the brand’s reputation. The product was self-explanatory.
Apple’s marketing strategy might help businesses who are on a tight budget with their product launch promotion. While you may not be able to get your product into the hands of the Kardashians, you may be able to work with a dozen renowned influencers and TV shows.
There are various social media influencers who work in the same niche as your product, whether it be a phone, cosmetics, fashion, furniture, or home décor item.
In short, sponsored advertising may not be as effective as word-of-mouth and genuine favorable evaluations in increasing the success of your product. It’s adequate, but not always sufficient.
USE THE MVP (MINIMUM VIABLE PRODUCT) TECHNIQUE
The MVP (Minimum Viable Product) technique is the best way to ensure that your product is ready to attract its users. Although the technique is extremely beneficial to all businesses, it requires a great deal of critical thinking to use correctly.
The MVP technique serves the following purposes:
a. The ability to test a product hypothesis using limited resources
b. Quicken learning
c. Cut down on squandered engineering hours
d. As soon as possible, get the product to early adopters.
e. Foundation for other products
f. To assess a builder’s ability to create the required product
g. Rapid brand development
However, MVP should not be confused with an unfinished product with half-developed or faulty features. MVP is not an MPV until it sells and has some user appeal.
Once you’ve finished your final product, all you need to do is take advantage of the first-user advantage and begin continuous testing as soon as you have an MVP.
This is useful for start-ups with limited resources and operating on a tight budget. MVP is also useful for businesses that are launching a new product line.
USE SUSPENSE TO BUILD EXCITEMENT
Make your audience excited by putting out a teaser on social media 3–4 weeks before the trailer and the real product.
Customers’ responses will help you make sure that the new product launch meets their expectations. You can also think of a mysterious code name that will keep people guessing.
Post interesting pictures and posts that make people want to know more. Get people so excited about the product that they can’t wait for it to come out.
Think of each post as the end of a book series with a cliff-hanger that makes the reader want to read the next book.
Remember when NVIDIA posted a mysterious image with the words “It’s coming.” written on it? They wrote the post to get people excited about when one of the GeForce GPUs would come out.
And the campaign did a great job of reaching its target audience.
You can also look at Bose headphones for ideas.
At the bottom of the page, Bose has a carousel of pictures to show how relaxing and comfortable its products are.
Text and hashtags won’t have as much of an effect on your audience as high-resolution videos and photos.
Multimedia can also show how your product looks when it is being used in the real world.
People will want to learn more about you and your product if they can see themselves using it in their everyday lives.
With the help of these pictures, the brand shows that their headphones can be worn by anyone.
PAY ATTENTION TO HOW THINGS ARE PACKED
Packaging is all about creating an elegant customer experience that starts the second they take the product into their hands.
You probably know what Unboxing is. You can find unboxing videos from all over the world for any Apple product or the newest Samsung flagship phone.
Unboxing became so popular that companies now pay more attention to how they package their products. A beautiful box can change everything.
Let’s look at something as simple as soap. Women used to buy soaps that were wrapped in plastic, but those days are over.
Now that organic, eco-friendly soaps in jute bags are popping up all over the Internet, women are more likely to buy a $10 artsy soap than a $1 regular one.
DO NOT BID TOO LOW; SHOW QUALITY
Companies and brands often fight with each other over prices. You see a company selling a phone for $350, and then you see another company selling a phone with the same or more features for $50 less.
This may look like a good way to market a new product, but it’s not. Customers are now looking for products that give them the most value for their money, not just the ones with the lowest price tag.
If you think that underbidding is a good way to make money through marketing, you will end up in a situation where most of your profit comes from buying in bulk.
So, the best way to sell a product at the right price is to focus on its unique selling proposition (USP) (Unique Value Proposition).
Try to make your product stand out instead of thinking of it as part of the competition. Don’t just talk about “the one” feature; talk about all of them.
To reach more people, you can also sell different versions of the same product at different prices.
FIND YOUR KEY PLAYERS
You need to find the people who have an effect on the people in your target market. Tell them about the product or service you’re about to start selling. First, tell them the news. Give them a sample or trial and ask them to write a review or share it on their social media. Over the past few years, public relations have changed. Now, we have to look at more than one way to get our information out, and influencers are one of those ways. Online influencers have been able to get people to pay attention to them through their blog, social media channels, videos, etc. Because of this, their influence is often bigger than that of mass media.
USE SIMPLE WORDS AND AVOID INDUSTRY JARGON
Don’t use jargon or terms from your field. Make your website and sales copy easier to understand for customers.
Use simple, direct language to talk about the good things it has to offer. The goal is to get customers excited about all the services a product has to offer, not to give them a lot of information about the industry.
All they need to know is why the product is something they want. And you have to get this across with good writing.
Make sure the tone of your sales copy matches how the product looks. You don’t have to try to sound like an expert to be one.
TAKE PRE-ORDERS FOR CUSTOMER RETENTION
Don’t forget to keep your customers interested until the product comes out by letting them pre-order it.
A lot of businesses skip this step. They didn’t sell their products until the last version was out. Taking pre-orders, on the other hand, can help you sell a lot more. When people talk about the products, more and more people want to buy them.
Once the product comes out, the hype is likely to die down. So, it has an effect on sales.
The time after a product release event and after the product comes out on the market is valuable. It’s always being talked about; there are reviews everywhere, people are using it, and they want to buy it as soon as possible.
Do not keep them waiting. Let them know they can pre-order.
It’s impossible to beat Apple when it comes to pre-order.
You can only imagine how excited a user would be to be looking at Apple’s page for a new product and then find out that they can pre-order it.
SHOW THEM WHAT YOUR PRODUCT IS REALLY LIKE
If you’re putting out an MVP or first-of-its-kind product, you can’t ignore the fact that people will think twice about buying it.
This is a problem that most brands face, whether they are successful or not. Even the most devoted customer wants to know if the product is worth the money.
So, how do you get them to buy it? It’s easy: just let them try it on and make their own choice. Give them something they can’t say no to. Take a look at how simple Apple’s “reserve it” solution is.
Apple told its customers that when the iWatch came out, they should go to an Apple store and try it out. So, if someone wanted to pre-order an iWatch but wasn’t sure if they liked it, they could try it out first and decide later.
GIVE GREAT CUSTOMER SERVICE
When a new product comes out, there is more to the marketing plan than just the launch event. It means taking care of any problems that your users might have with the new product.
You can’t say for sure that a customer won’t need help with your new product. If customer service is hard to reach or isn’t good enough, it could hurt the reputation you’re trying to build.
In the age of Twitter and YouTube, one angry customer on social media can do long-term damage. Negative reviews will be less likely if people can get help quickly and easily. This will also make the company and its product look better.
Again, Apple is at the top of the list when it comes to great and easy support. Apple, Google, and Amazon all have great customer service, but they are falling behind Apple. But what really makes Apple stand out is how friendly it is.
In addition to the support on Apple’s website and the helpful articles it often posts, customers can always call, text, or stop by an Apple store to talk to a professional.
The purpose of this report is not to give the impression that you have to have a lavish introduction of your product like Apple and Bose do.
It is never a good marketing strategy to imitate someone else or do exactly what the rest of the world has already seen, regardless of how ready-made and tempting either of these options may be.
The important thing is to realize how essential pre-launch planning is, and to keep working on that planning even as you move forward toward a more streamlined process.
The primary purpose of a product launch is to bring to the audience’s attention the existence of your product and to pique their interest in purchasing it. In addition to the ideas for launching an online product that were presented previously, one may also organize events and competitions. At the end of the day, every idea that you have for launching your product should make sure that it gets people talking about your product.