With product launches having so many moving parts, a lack of resources leads to 95% of new developments to fail. If you want your product to be well received after its release, you need a groundbreaking launch that captivates everyone’s attention. But what does it take to make one successful? Read on as we uncover common do’s and don’ts to consider when forming a new product launch strategy!
Do: Focus on customers’ needs first
The mindset of your product launch should be set on the customers and not just the marketing. Remember, your goal is to successfully message to consumers that your product is the perfect solution to their problem. Through the ins and outs of developing your launch, your strategy should remain shaped around the needs of your target audience or clients.
Don’t: Get consumed by the competition
Of course, you should be watching what your competitors are doing so you can discover ways to edge them out, but don’t let this trip you up. Your ultimate focus should be on listening to your customer base and understanding how to better serve those in your market. When you’re able to highlight what makes your product beneficial to consumers, you are distinguishing your brand as unique against the competition.
Do: Determine measurable goals
Before the launch of any campaign, business goals should be specifically established and trackable. Whether your business aims to increase website traffic, hit several sales, or acquire more followers, there are tons of KPIs to be pinpointed that may align with your company objectives. As you investigate analytics, make decisions in response to campaign performance and move forward from there.
Don’t: Lose the momentum
After generating the initial press and buzz about your product launch, you may think that your product is set to continue selling. However, the work has just begun. Marketing post-launch is probably more important than the pre-launch itself because it’s necessary you continue with building brand awareness and having a concrete content marketing strategy to keep driving sales.
Do: Use social media effectively
Social media is one of the more optimal mediums which you should be using to promote your brand due to the engagement it can offer. Get creative with content, whether by working with influencers, blogging, or implementing advertisements so you can bring as much interest and anticipation to your launch. Social media has never been more powerful for brands wishing to connect with their target audiences.
Don’t: Underestimate the planning process
Even if you truly believe in your product, the truth is that not every product can sell itself. Your team should take the time to make appropriate decisions that will ensure your product can be seen by consumers and in the best light possible. Don’t cut corners to rush the preparation process because you’ll want every detail to have been accounted for to maximize launch results.
Marketing a new product can be a tricky process, but with the right team, it doesn’t have to be. Get in touch with us today so we can nail down a strategy that is customized for your product launch!