What Is A Product Launch?

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There’s nothing like sharing something you’ve worked on for ages. And sharing it with the masses at that!

But there is a particular strategy when it comes to launching a new product and making sure that it launches successfully. The last thing you want is for your baby to fall flat on its face once it hits the market floor.

What Is Product Launch

So how can you make sure it soars above the rest? Well, we’re glad you asked!

We’ll walk you through every go-to market strategy there is when it comes to product launches. And we’ll see you all the way up to your launch day.

Gosh, it makes us teary just to say so! But we’ll hold it together for you, our little entrepreneur!

Product launch definition

Okay, the reason you’re here is because you have one question. What is a product launch?

In plain terms, a product launch is a coordinated effort to bring a new product forward to the market. But that’s far easier said than done.

The goal of a successful product launch is to make sure that all members within the entire organization are aware of the new product. As well as target customers and partners.

Each component of the product launch is just as important as the next. After all, you don’t want your launch strategy to leave a bad impression on any of those involved.

So let’s look at the different types of product launches you can choose from. (We know what you’re thinking: “There’s more than one?!”)

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Types of product launches

A product launch template can mean many different things. But that doesn’t mean that each launch plan doesn’t have its own set of specific strategies.

Soft launch

A soft launch is kind of like a sneaky way of introducing your new product to the market. Not sneaky as in deceitful. Just discreet.

Let’s say your new product isn’t quite ready for the type of fanfare that accompanies a big, bold celebration. You know, the kind that hires virtual comedians to come in and make a grand gesture, introducing the newest fad. 

So instead, you formulate your product launch plans around introducing your new product to a few customers at a time. See? Discreet. 

There are different kinds of product launches to help you best introduce your product to the market

As a strategy, it’s a great way to launch a product, especially if you’re wanting to be extra careful about getting it through the right channels. So who knows? Maybe a soft launch is for you.

Minimal launch

A minimal launch sounds similar to a soft launch. But it’s specifically meant for smaller products or products with incremental changes along the way.

So when the product launch occurs, its fanfare is minimal so as to get the word out. But without a huge amount of marketing efforts and spending.

Full-scale launch

If you haven’t guessed it from the name itself, this is the type of product launch that screams, “I’m here!!” from atop a balcony. It will require a company wide effort from the sales team to the marketing team, from product managers, to beta users.

The support team for a full-scale product launch is no weak bunch. They’re ready to get this product out there, answer questions, and launch activities that give the new product its best chance for success.

The components of a product launch plan

Every successful product launch needs a template to work off of. So consider these your target destinations on your product roadmap!

Summary

Like all product roadmaps, you need a good place to start. So why not start with a summary that will lead you through the entire process?

Make sure your product launch template includes a summary of all phases involved

Technically, this summary should be completed after everything else on the list. But you want the pre-launch to be just as informed as the rest of the process. (So don’t let this slide!)

Product description

This can be a brief description of your new product, highlighting its key features and how it will ultimately help new users. Remember: the business of launching a new product is all about the customer experience.

Target audience

Of course, you want your product launch to reach the masses far and wide. But setting up the customer journey to cater to a very specific demographic is actually the more strategic way to go.

You’ll have to ask yourself who makes up the target market for this product. And how the product team can identify user behavior within this demographic to better address the needs of the customer base.

Yeah, it’s a lot of market research. But when done well, your product launch strategy will only benefit from the hours you put in beforehand.

Key messages

You might think that a product is just a product. Well, yes and no.

A product is literally just an object. But in this day and age, a product needs to have a key message attached to it.

The product must be positioned in a certain way that speaks to its customers – maybe it even speaks through the guise of a corporate entertainer! So try to come up with a message that other teams may not think about. (And hey, another advantage for you!)

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Tangible success data

When it comes to anything new, folks inevitably have trust issues. It’s just how humans are wired.

And that’s why launching a product with successful data attached to it is so important. Your marketing data can come from sales records, business partners, revenue targets, and channel availability.

Really, anything that’s going to show off just how trustworthy your product is. And how trustworthy your company and team members are as well.

Marketing campaigns

A successful launch will likely include launch phase after launch phase. And depending on the target audience, these phases and activities will result in a different kind of campaign that speaks directly to customers.

Marketing campaigns may come in the form of a press release as given out by the product manager. Or, it may be a launch event where tons of Instagram-worthy booths for customers to post pictures of on social media.

The marketing channels and strategies you use will greatly depend on your audience. So this part of the product launch plan really boils down to what’s the greatest demand on the market now.

What goes into a successful product launch?

Okay, we’ve talked about everything in theory now. But what about the actual process of launching a product?

A cohesive product launch strategy

Both a product launch plan and launch strategy is an all-hands-on-deck situation. That means everyone in the company from the sales department, the customer support department, product management, social media…

Every successful product launch needs a solid marketing strategy and sales team attached

(We could go on but there’s a lot of folks to mention.) Once everyone involved in the business process of the product launch is gathered, then the company can start to visualize its quantifiable goals.

And those goals must be specific. Whether it’s a strategy to roll out new features as you go. Or set up a product launch plan that sees you through to full-scale.

A product launch roadmap

With so many different parts, you’re going to need a roadmap to lead you through. And not just a roadmap that leads you up to the launch date with that virtual event host you’ve been waiting to work with. 

But a roadmap that also considers what ought to be done post-launch as well. Post-launch might mean introducing a new feature.

Or maybe it’s establishing a single landing page for customers to contact sales and subscribe their email, subscribe to a newsletter, and more. Either way, you’ll want that roadmap to lead business all the way up to the final endgame.

A polished marketing plan

Product management will know exactly how the product works. And they’ll need to communicate that both to marketing and sales.

Because getting a polished and cohesive message out will help the product launch itself. Your company is likely looking to make the lives of their customers easier.

So any way that sales and business pitches can match up their language to meet the needs of the customers is best. (Really, it boils down to communication!)

An outlined sales collateral

Obviously, the goal of any new product launch is to generate interest and sales. That’s why the sales department needs to outline their approach in order to establish their prime lead generation sources.

That way, the product launch plan will make more sense to other departments involved. And the sales team will know exactly where they’re looking to generate leads.

Even though a company may only have one sales department, everyone needs to be a salesperson during a product launch. The product is going to sell itself!

A robust customer support system

You might think that your product is straightforward and concise. Easy to navigate and understand, even as a new user.

But not everyone will see your product that way. And that’s why you’ll need a robust customer support system to answer any questions and collect feedback.

Customer support is crucial when launching a new product to answer inquiries and engage customers firsthand

Of course, the ideal is that your product launch goes swimmingly. But things will inevitably crop up, and most especially with customers.

So having a customer support system in place to tackle those obstacles as they happen in real time will help your campaign stay afloat. And it will generally keep everyone feeling happy!

Final thoughts

This new product may have been on the back burner of your company for ages. But now is your product’s time to shine!

Sure, a lot goes into the planning and strategy of launching a product. But your product deserves the best!

And let’s be honest. It’s probably the baby of the company you’re working at. And like any offspring, you want it to have the best chance of success possible.

So use these tips to generate as much interest and strategic planning that you can when it comes to introducing this new product to the world. It’s an exciting time to bring new and innovative features to the main market.

Just make sure that you introduce them with a long-term plan in mind. And that your customer base is always at the forefront of your mind when planning out the various phases of your launch.

Happy product launching!

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Adam Christing is a professional comedy magician, virtual MC, and the founder of CleanComedians.com. He is a member of the world-famous Magic Castle in Hollywood and a popular corporate entertainer, magician, and virtual speaker.