Launching a new product or service is a lot of work but necessary for growth, as well as to remain competitive. It’s important to have a plan in place well before the launch date. Let’s talk about things to consider when unveiling your next product or service.
- The solution it provides
Determine the position of your product or service and ask yourself these questions:
- Who is the product for?
- What does the product do?
- Why is it different from other products out there?
- What problems does your product or service solve?
- Your target audience
Who is the product or service designed for? You had a need and are providing a solution to a specific group of people. Surveys or focus groups are a great way to gather information from your target audience, and give insight into the communication channels that they prefer.
- Your go-to market strategy
Once you’ve gathered information on your target audience and competitors, you’ll want to come up with a strategy to launch and promote your product or service. Use the insight from a survey or focus group, and select appropriate channels to promote your product, and create a plan that best fits your target audience and market. Think about your short and long term goals for the launch and develop your strategy based on those goals.
- Creating a timeline
With a set launch date, you can create a timeline with everything that needs to be done in time for a successful launch. This is a great way to keep your team on track and make sure you’re completing tasks in a timely manner. Keep in mind that a new service or product should be marketed for much longer than just launch.
- Keeping your team involved
Think about who needs to be involved in the product development and product launch projects and make sure they have an assigned task and goal to accomplish. Figure out who needs to know what and clarify who is responsible for which task. This will ensure everyone on your team is prepared to launch and market the product.
- Tracking your performance
Once you launch the product or service, you’ll want to quantify how successful it is. Think about the goals you set when developing your strategy. Are you reaching those goals? If not, adjust your strategy.
If you need help launching your next product or service, contact us! We’re ready to help.