10 Steps to a Successful Product Launch, Part 2
Successfully launching a new product is a complicated process. Last month we
discussed the first steps to a successful product launch in Part
1 of our series. The key first steps include:
1. Make sure you have a market looking for a product and not a product desperately
seeking a market.
2. Understand the full revenue impact of your new product or service.
3. Thou shalt beta test.
4. You have developed customers who are referenceable.
5. Your channel is informed, trained, and ready.
Now it's time to hit the streets with the product. Follow the next steps in
our Product Launch Process.
6. You have a customer communication plan.
Customers need to be among the first to know about product plans and launches.
The last thing you want to do is raise fear of product abandonment or concerns
that your focus has changed. This is why customer communication plans need
to encompass the following:
- Upgrade/migration issues
- Pricing or licensing issues
- How the new product is different from the current products/versions
- Why they should consider upgrading/migrating
7. The support organization is trained and ready.
It's always best to get your support organization involved as early as possible;
don't wait until the last minute to get their input. They should be closely
involved with the beta process so they can prepare their organization for
the new release. They can often put their experience to work by helping with
such issues as implementation design methods. In addition, customers will
want assurance that there is a long-term support plan for their existing product
and will want to understand the implications of moving to a new product, the
timeframes, and if there is an end-of-life plan for the products currently
in use.
8. Create clear, succinct messages that will support your go-to-market strategy.
Build new messages that appeal to market needs, as discovered in step one.
Make sure the messages do a good job of identifying a problem and presenting
your solution and the benefits. This sounds easier than it is. Make your solution
simple to articulate and easy to understand. Hold back your desire to over-explain.
Just focus on the compelling facts that will help persuade someone to look
at your product.
- What business problems are you solving?
- How does your offering solve them?
- What are the benefits?
9. "Try before you buy": Test new messages before taking them
to market.
After you have set the initial foundation for your message, it's time to
take it for a ride. It's important to try it out and get feedback from outside
influencers like analysts and customers. You will quickly gain an understanding
of how your message is received and where you need to make adjustments.
10. Create buzz around your product before and after the launch date.
To jump-start momentum, you should plan to create buzz and excitement just
before the launch by conducting a press tour and introducing influential editors
and analysts to your new product or service. This may result in coverage that
could go a long way.
In addition, you should plan a lead generation campaign that will coincide
with the launch date to build interest and excitement in your local market.
These campaigns should be focused on educating the market about your solution
to build credibility and bond with the needs of that audience.
One Final Note
Don't forget that a new product launch doesn't end at the launch date. The
most successful campaigns have established long-range communication plans to
give your product or service the visibility and consistency it needs to gain
market share and mind share.
Ideally, you should plan a minimum 6-month horizon to get ready for the launch
day. Think of your launch plan as the foundation for the future of that product
or service. If you find you are stressed for preparation time, make sure you
prioritize deliverables that will ensure your success, i.e. working with beta
customers, and push out sales tools and other deliverables that will not impact
your effectiveness if they are produced post-launch date.
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