How to Create & Plan a Product Launch That Gets You Noticed

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Launching a new product can be an overwhelming process, but having the right product launch-to-market plan can certainly make you breathe easier. Once you have a marketing plan for a new product launch, you’ll have all kinds of the necessary information at hand.

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From defining your target audience and how to find them, determining the optimal price for your product, or knowing which selling point to highlight in your messaging and advertisements, a new product launch marketing plan can help you to tackle all kinds of obstacles without panic.

How to Create & Plan a Product Launch That Gets You Noticed

How to Create & Plan a Product Launch That Gets You Noticed

Product Launch Marketing

You have a product that is almost ready to launch to market and announce to the world, so what do you do next? Before you take another step, you need to create a solid product launch marketing plan that will outline the messaging and marketing strategy.

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The stronger your strategy, the closer you get to your bottom line, which is getting customers to adopt your new product.

One key piece of information you’ll need to be a bit more versed in to be able to build a marketing strategy to promote your new product is the product lifecycle.

A product lifecycle is the amount of time from when a product is first introduced to the consumer market up till it either dies out or stops being sold. It is broken down into different stages:

• Development

• Introduction

• Growth

• Maturity

• Saturation

• Decline

Other experts break it down to the stages of ideation, innovation, market analysis, testing, launch, and post-launch. In either case, the process of product launch marketing is ongoing and made up of various stages. Understanding where you are in the lifecycle of a product helps you to make important decisions, for example, when to increase advertising, when to adjust the price of your product, when it’s time to explore new markets, redesign your packaging or change your messaging.

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This is your research phase when you are trying to understand the viability of your product, determine if it’s ready to go to market, and decide how you want to approach the launch.

Next, you’ll be ready to jump into the introduction phase, that is, the stage when your product is first launched in the marketplace.

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This is when you are trying to understand your target market better, understand the competitive landscape and focus on raising product awareness!

In the growth stage, your product has already gained some acceptance from customers, and your focus will shift more to increasing your market share. In this stage, your demand and revenue should be growing steadily.

When your sales start to level off, you’ve probably reached the maturity and saturation stage. Don’t panic, you are probably still growing, just not at the same rapid rates as before. This is the point when you may consider implementing a different marketing strategy to promote your new product.

This includes making adjustments to the price of your product, offering free additions, or incorporating add-ons to keep your product competitive.

If you’ve reached the decline stage, then it’s the end of the line. This is the point of the product lifecycle associated with a decrease in revenue, high competition, and changes in the needs of your customers.

Plan

This might seem like a simple one, but setting aside time to create your plan is crucial before launch. A launch plan doesn’t look the same for every business, so it’s important to take into account things like the industry you’re in, who you’re trying to reach, your competitors, and what’s unique about your offering.

Remember that sometimes, it’s better to push back your launch date if it means making your strategy more effective. Rather than rushing into it, make sure you’ve sat down with your team and that everyone is on the same page. You’ve only got one shot at being new to the market, so you want to make it count!

Identify Your Customer & Make it About Them

One of the most common mistakes made in business is that we focus too much on the details of our offering and not enough on our customers and how it can benefit them. While everyone on your team is excited about all of the details of your new product and how amazing it is, your customer is more concerned about their problems and how the product will make their life easier.

Build Your Community

When it comes to your launch plan, don’t go it alone. Get industry experts, bloggers, and influencers on your team before the launch! Whether your company has a history or you’re launching for the first time, working with opinion leaders is an amazing strategy because they can spread the word and get people excited about what’s to come.

The reason we see so many companies working with influencers today is that it creates a need in the market for what you have to offer. It’s an amazing way to get people talking about you before you even launch, which can make getting press a lot easier. This will give you a great foundation and allow you to start converting the moment you launch.

1. Start by doing your research and finding the right influencers to reach out to. This is such an important step because you want the influencer to help you reach your overall goals. Consider things like their reputation, the type of following they attract, and their content creation style. Don’t just work with anyone who says yes - be picky! After all, it’s your business that you’re trying to promote.

2. Once you’ve identified who you want to work with, reach out to them! Give them plenty of information about your company and product and do so in a compelling way to create something they want to be a part of.

3. Finally, always be sure to give influencers incentives—are you going to be sending them a free product? Paying them? Re-posting their content on your account to give them exposure? Be sure to communicate why it’s a win-win for them to work with you.

Set Up A Pre-Order Strategy

If you’re going to be working hard to create hype about your product before launching, be sure you have a pre-order strategy in place. This way, customers who are intrigued can secure their spot in line right away.

While this might not always be possible due to pricing and other details, it’s an amazing way to secure sales from people who are already interested. If you can’t give your customers the option to pre-order, at least give them a way to get on the inside and receive updates leading up to the launch!

Make Your Launch an Event

Hosting a digital launch party with the right people there can do wonders for your business. Whether you’ve created a new site or are rolling out a new line of products, having an event for your launch can provide you with networking opportunities and the chance to show people the amazing things you’ve been working on!

Encourage Customers to Share

Last but not least, an amazing way to gain exposure for your business is to release something that your customers will want to share with their audience. Now more than ever, people buy based on recommendations, so keep this in mind when marketing your product!