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Product Launch: What To Expect

It is statistically proven that your product launch will fail. So how do you ensure that your efforts will be successful? This product launch overview will lay out the basic principles of a successful launch so that you are better prepared to beat the odds.

Product Launch Overview

Pre-Launch

Before you launch, it is essential to create a detailed plan that will set you up for success. Your plan should include who the product is for, how you will market your product, and the goals you wish to achieve.

Determine your target audience and speak with them about your new product idea to learn more about their current pain points. This information will help you create a buyer persona that you can use throughout the rest of your planning process.

Next, review the current competitive market and determine where you can improve your product to offer a unique solution. If there is a similar product with marketing that works, enhance the concept with ideas of your own to have a new spin. Your goal is to address your audience’s pain points where your competition does not and therefore create a competitive advantage.

Finally, create a simple message strategy that aligns with your product. The two most important points to communicate are what your product does and how it is of high value to your target audience. Be careful not to focus on individual features because your presentation time is typically limited. Instead, focus on the most valuable aspect of the product with unique and persuasive messaging.

(For more helpful tips about your pre-launch, check out our article Effectively Launching a New Product.)

Product Launch

With your pre-launch planning and marketing, you have already completed the most time-consuming part of launching a new product. The launch phase is much shorter and is solely the execution of all your strategic planning. Aim for a launch time frame of four to seven days and be ready to address any problems. 

You can choose from many ways to launch your product, including a live event with speakers, hosting a webinar, Reddit AMA, or a live video with chat. Make sure to choose an outlet that will resonate the most with your target audience. In addition, strive for an in-person element by bringing in influencers, customers, or even a product demonstration. Your goal is to make it an occasion to remember helping propel your launch even further.

Post Launch

After your product launches, analyzing your metrics and continuous product improvement based on customer feedback will ensure that your success continues. Review your initial metric goals to gauge how effective your marketing efforts were. What aspects of your plan worked well and what did not. Reviewing your plan will help you with future product launches. Additionally, you can adjust your current marketing strategy to fulfill your next set of metric goals better.

Next, it is important to review your customer’s feedback. This is especially true when it comes to the negative. Ensure that you address any problem with a short-term solution that will address their immediate concerns. Additionally, work to find a long-term solution to ensure future customers don’t have the same problems. Overall, this will result in more loyal customers.  

Finally, you should focus on customer retention. Continue to demonstrate your product’s unique solutions to your customers through product webinars, case studies, or even sharing success stories. These demonstrations will help show your audience what they can achieve with your product and therefore increase retention. 

How Can A Virtual Assistant Help?

Depending on what your business is, products can range from service packages, software products, training events/webinars, ebooks, or a variety of other products and services. Your VA can help with the development, marketing, and even some selling aspects of the product itself.

Our article Launching a New Product With a Virtual Assistant provides more detail into how a virtual assistant can help with these three important aspects of a product launch.

Ready to start selling?

Let CVA’s Infusionsoft Certified Consultants set up your products the right way and help you devise a strategy to upsell your audience and turn them into raving customers! Get Started Today

Posted on November 2nd, 2021 by Client Advocate Team

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