Planning to Launch a Product? Here are 5 Tips

Planning to Launch a Product- Here are 5 Tips

You invest a lot in generating an idea and making it into a reality. But you will need to go the extra mile promoting your baby’s entry into the world.

Product launches are crucial to get your idea noticed. But it often takes the right approaches to events marketing to stimulate buyers into buying your product.

Here are some tips from that you can use to increase the publicity of your product launching:

The planning team

Who is really responsible for the product launch? (Hint: it’s not just marketing). The most successful launches employ a ‘whole organisation’ approach. The optimal launch team is composed of at least one member from each functional area of the business including leadership, marketing, sales, service and legal etc.

It is imperative for this team to be assembled early – minimally, before new product development is complete – ideally, concurrent with the development of the product, not after.

Foundational strategies

Foundational strategies include the mission and vision of the product launch; business case and objectives; brand strategy; fit within the overall product portfolio; and uncertainties and risks.

These strategies must be developed within the context of the overall business strategy and product portfolio strategy, and are important to define early. They serve to provide direction and clarity for what is needed to launch the new product (the short-term) and sustain it in the marketplace (the long-term).

Audience specific strategies

Audience strategies define how your product will ‘go-to-market’ for internal and external audiences such as distributors; national accounts; key customers; union labor; suppliers and partners; installers and technical support among others.

These audience strategies must be coordinated and complementary with one another, and support the foundational strategy.

Operating strategies

Integrated operating strategies include the plans for every functional area of the organisation – including finance, product, sales, legal, customer service, regulatory, training, IT and analytics and marketing.

These strategies are more tactical in nature and build the operational capabilities needed to deliver the high-level strategies.

Three launch phases

Too many launch plans are just that, ‘launch plans’ focused on the launch phase as a moment in time. A total launch strategy encompasses the three distinct phases of a new product introduction: pre-launch, launch and post-launch.

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