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Product launch is
making an offering to potential customers in an
attention getting way.
Product Launch
Steps:
Pre
–Launch
- Distribution:
Before you
launch your product you have to have your
distribution mechanism in place.
If you plan to
sell your product in other retail stores where
they can be purchased then you have to make sure
that they are in place in those stores by a
designated date so that you can announce that to
your customers.
To get your
product in other retail chains you have to do so
through an established distribution channel or
one that you created.
If you only
plan on selling the item from your store you
don’t have to worry about this.
- Positioning
& Messaging:
- Define what you’re
offering and how it’s different (better) than
what the competition is offering
- Define the value to the customer
- Define how will it be packaged and offered to
customers
- Establish
Launch Goals:
Be specific
about what you’re trying to achieve and have the
mechanism in place to measure it.
Examples of
goals include:
- The
number of people you want to reach
- The
demographics you want to reach (age, gender,
social & economic background, etc.)
- The
number of downloads in the first day (week,
month, etc.) you want to achieve
- Leverage
Marketing Tools To Reach Customers:
Utilize the
most effective and efficient methods to reach
your audience.
Social media,
blogging, current customers, employees, press
releases, etc. are examples of marketing tools
that can be leveraged to get your audience’s
attention.
- Build
Adequate Inventory:
Be sure to
have enough of the products on hand to meet the
expected demands.
You don’t want
to turn away customers who are interested in
your product.
Have samples
and demos to be handed out at the launch on
hand.
-
Build
Excitement:
- Develop a simple, straight forward, and catchy
slogan that identifies your product
- Peak the interest
of the public by releasing bits of information
about your product that captures their interest
and make them want to learn more.
This could
take the form of short videos, pics, short
statements on your website, etc.
- Announce deals for
purchasing the product upon launch.
This could
take on the form of a discounted price.
- Giveaways:
Create samples
and demos to give out to give out as freebees to
those in attendance.
- Displays:
Develop your
displays and have them on hand in time for the
launch.
- Time The
Event:
You have to
time the event to maximize exposure and thus,
sales.
- Determine
The Launch Venue:
- Tradeshows:
- Media Event:
- Local Event:
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How Did
Others Do It:
Do some research to find out if other
companies have launch a similar product and how
they did it.
Find out what are some of the venues and
promotional methods they used.
- Train Your
Sales Team:
Make sure that
the people who will execute your plan are well
trained and ready to execute the plan.
Take nothing
for granted.
Cover every
aspect of the launch by ensuring that someone is
responsible for every key task.
Have a backup
plan in place in case a team member has a last
minute emergency and can’t make it to the event
to cover down on their role.
-
Conduct a Pre-Launch Check:
Check to make
sure all of the things above are in place.
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Post Launch