How to Successfully Launch a New Product
Bringing a new product to market is a process that takes you through many stages, emotionally and professionally. To do it successfully, you’ll need careful planning, thorough research, and an effective strategy to bring customers on board and set the scene for lasting success. Whether you’re launching something entirely new, or refining an existing product, a smooth and impactful launch relies on following certain steps…
Understand your market
Before putting a new product on the market, thorough research is vital so you can understand what your customers are looking for, weave in industry trends and learn from what your competitors are doing (and, perhaps as importantly, what they aren’t doing). Identify gaps that your product can fill, and find its unique value – the thing that will make people want it.
Develop and test until you’re confident
It is important to see the time pre-launch as your chance to make it as good as it can be. If your business is office-based, give employees the chance to test the product, as they will understand it and be able to offer actionable feedback. If you have frequent or repeat customers, offer them the chance to be beta testers. It’s useful to know what motivates people to buy your products, and all of this information will help you refine; a later launch is better than a failed launch.
Plan a launch event
There should be a moment where your product goes from being a concept to entering the world, with guests of honor, selected customers and event photography services all on the guest list. This event is the chance to show your product off to the world and get useful publicity which can drive further demand. Use those same social channels to livestream the event and to share clips afterwards. It’s great if you can feature film of influencers holding or using the product and giving positive feedback. Make the event interesting and visual, with branding prominent in all shots. Upping the level of interest is a gradual process that doesn’t end once the product has been launched.
Build anticipation with marketing
An important part of launching a product is the countdown. It’s best if customers know your product is coming, so you can pique their interest and boost demand. Use all of the tools at your command to do this.
- Social Media: Share teaser photos and videos, and have a literal countdown to create a buzz.
- Email Marketing: Let existing customers know that something interesting is coming soon. Reveal more details the closer you get to launch.
- Influencer Collaboration: Target the best-known influencers in your industry and send them prototypes which they can then talk about to make your product more credible.
- Content Marketing: Take customers behind the scenes to talk about the journey the product has been on, and why they should be excited.
All of the above should be done when you’re confident you’ve actually got something you can bring to market and that the refinements you want are possible. There are few bigger business no-nos than teasing a product that then falls flat. What you’re looking for is a countdown clock that hits zero, then the screen goes black, and your planned launch event goes live. Then, you’ve got to turn that publicity into purchases, but that’s another story…
