TIPS FOR A SUCCESSFUL PRODUCT MARKETING LAUNCH
Your new product is getting launched shortly. Maybe it’s exponentially better — more advanced, faster, providing more value — than anything else on the market.
“Product launches are tricky because, unlike other marketing efforts, you really only have one chance to get it right," said Daniel Waldman, president of PR and marketing firm Evolve Communications. "There's not a lot of room for testing and refining tactics. Launches need to pack a punch.”
In all of these scenarios you will face a similar question: how do you tell the world — whether they’re existing customers or new faces — about your great new product and build momentum for a long product life cycle? In many cases – especially start-up technology firms, success of your product launch could make or break your company. And there are a lot of functional roles involved in a product launch.
Here are few tips that you can apply while launching a new product:
This is your first step in launching the product to the market as it comes out of development and into your lovely little product marketing hands. You need a plan. Follow the principle of “KISS” Keep it as simple and short. Don’t get bogged down in the process.
2. Thorough Competitive Analysis
In order to stay on top of your competition, you need monitor your competitors and their marketing material, their ads, brochures, websites, social networking sites. You need to understand what and how they communicate with their buyers.
3. Know your exact unique value proposition
In order to succeed, it is very important to communicate to your prospects and buyers how your product is differentiated from the rest.
4. Test the water before plunging in
It is extremely important to test your campaigns before releasing them to the public. This can easily be done in the form of focus groups, or sample testing or online research. It is quite possible that there is a gap between what you’re trying to convey and what is understood by your target audience and this step will help bridge that gap.
5. Connecting with channel Influencers
Whichever channel you pick to market your product – online or offline; it’s essential that you figure out influential people in those channels who will impact how your product is received.