Launching a new product is an exciting time, you can get swept up in the rush of getting their product launched and aren´t always sure on how to go about it. I´ve spoken previously about top tips to a successful launch and top tools to use for a product launch, but in this post, I´ll be looking at what it is you need to know before you launch. Knowing what questions you should be asking yourself before a launch helps you put together a plan and reduces the risk of something going wrong in the process.
Let’s see what questions you should be asking yourself.
Question 1 – Is my product ready to launch
Sometimes you can be anxious to release your product before your competitors, or in time for a special occasion and can be tempted to rush through the launch process. Nonetheless, ask yourself ¨Is the product actually ready for launch?¨ Consider releasing a digital product in beta if you want to release quickly. Testing the product on various beta testers can highlight any glitches within the product itself, giving you time to fix any issues before launching.
If customers encounter consistent problems with a fully launched product it may cause issues and lead to negative feedback, while a beta launch makes it clear that all the bugs are yet to be discovered. If a physical product, it is best to test it several times before releasing, as you cannot fix it with a few keystrokes unlike a digital product.
Question 2 – Will my product be useful to my audience?
A very vital bit of information you will need when planning your product launch is to know who to launch it too. You may know your audience but does your product provide the solution to a problem they have. This problem could be an unmet need, or a desire to have something. Your audience may already be addressing the problem they have, through substandard means. It is your job to discover a way of providing a solution more optimally, and letting them know how.
The better you know your audience the better you can answer this question. If you find your product does not fit with your current audience but you still wish to launch it, then you will need to market research your new audience.
Question 3 – How will I promote my launch?
You need to make your product come alive and provide a vision for your audience to imagine exactly how your product will fulfil their unmet needs and wants. This is where understanding their buying habits are vital. Armed with information on your audience you can analysis where it is your product is most likely to be appreciated, and how. If you are selling a baby product, then it is unproductive to participate in social media groups filled with single businessmen, instead find groups for parents instead.
Analyze your newsletter statistics (if you currently have a list) and determine the potential of reaching your audience through launch emails. It would be worth while collecting new emails for those interested in your new product through a series of sign up avenues as part of the build up towards launch. Do the same for your social media analytics, determine the type of posts most appreciated and create posts similar to get the most interaction.
Once you have the answers to these three questions you can start planning your strategy and putting it in place. Only you need to put a deadline on a product launch, so take your time. A rushed product launch could result in missed opportunities and lower sale levels.
Enjoy the planning and build up, then celebrate your launch.