Product Launch E-book - Shane Barker
Ever heard of the Apple Newton? What about Microsoft WebTV? It’s likely that you haven’t. Even if you’re familiar with these names, it’s probably because you read an article somewhere about failed products. In fact, 75% of retail products and consumer packaged goods fail to earn even $7.5 million in their year of launch according to the Harvard Business Review. In this ebook, you will learn about: • WHY YOUR PRODUCT LAUNCH CAN FAIL • EVALUATE YOUR PRODUCT • STUDY YOUR AUDIENCE • STUDY YOUR COMPETITION • ESTABLISH YOUR GOALS FOR THE LAUNCH So you’ve launched your product successfully, and managed to reach your goals. What now? Many marketers become satisfied with the results, so they stop their efforts. This could be a huge mistake as you need to continue promoting your product to yield long-term results. Make sure people have easy access to the product, and to information related to the product.
Ever heard of the Apple Newton? What about Microsoft WebTV? It’s likely that you haven’t. Even
if you’re familiar with these names, it’s probably because you read an article somewhere about
failed products. In fact, 75% of retail products and consumer packaged goods fail to earn even
$7.5 million in their year of launch according to the Harvard Business Review.
In this ebook, you will learn about:
• WHY YOUR PRODUCT LAUNCH CAN FAIL
• EVALUATE YOUR PRODUCT
• STUDY YOUR AUDIENCE
• STUDY YOUR COMPETITION
• ESTABLISH YOUR GOALS FOR THE LAUNCH
So you’ve launched your product successfully, and managed to reach your goals.
What now? Many marketers become satisfied with the results, so they stop their efforts.
This could be a huge mistake as you need to continue promoting your product to yield long-term
results. Make sure people have easy access to the product, and to information related to the product.
Create successful ePaper yourself
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How toBuilda<br />
WINNING<br />
STRATEGY<br />
forYourNext<strong>Product</strong><strong>Launch</strong><br />
www.shanebarker.com
TABLEOFCONTENTS<br />
Introduction<br />
Chapter1–WhyYour<strong>Product</strong><strong>Launch</strong>canFail<br />
Chapter2–Step1:EvaluateYour<strong>Product</strong><br />
Chapter3–Step2:StudyYourAudience<br />
Chapter4–Step3:StudyYourCompetition<br />
Chapter5–Step4:EstablishYourGoalsforthe<strong>Launch</strong><br />
Chapter6–Step5:DevelopaStrategy<br />
<strong>Product</strong><strong>Launch</strong>StrategyExamples<br />
Chapter7–EssentialToolsforaSuccessful<strong>Launch</strong><br />
Chapter8–ExamplesofSuccessful<strong>Product</strong><strong>Launch</strong>es<br />
Conclusion<br />
WhatDoIDoNext?<br />
BookA30MinuteFreeConsultation<br />
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INTRODUCTION<br />
EverheardoftheAppleNewton?WhataboutMicrosoftWebTV?It’slikelythatyouhaven’t.Even<br />
ifyou’refamiliarwiththesenames,it’sprobablybecauseyoureadanarticlesomewhereabout<br />
failedproducts.Infact,75%ofretailproductsandconsumerpackagedgoodsfailtoearneven<br />
$7.5milionintheiryearoflaunchaccordingtotheHarvardBusinessReview.<br />
Soifamajorityofproductlaunchesfail,thatputsyouatariskofhavingyoursfailaswel.That<br />
meansalthetimeandefortyou’veputintodevelopingtheproductandthemarketingstrategy<br />
wouldbeflusheddownthedrain.<br />
Theharshrealityisthatit’snoteasytosuccessfulylaunchaproduct.Andeventhemostseasonedmarketerscanfacechalengeswiththeirlaunchprocess.Thegoodnewsisthatthereare<br />
waystotackletheissuesandchalengesthatoftenresultinproductlaunchfailures.<br />
Inthise<strong>book</strong>,you’lgetstep-by-stepinstructionsforawinningproductlaunchstrategy.<br />
You’lgetelaborateinsightsintohowyoucanevaluatetheproduct,anddetermineitssuitability<br />
toyourtargetaudience.You’lalsolearnhowtostudyyourcompetition,andbuildastrategic<br />
solutiontogetaheadofthem.<br />
Woriedthatyournewproductwilfail?Havingtroubledevelopingacompelingproductlaunch<br />
strategy?Readontodiscoverthecomprehensivesolutiontoyourproblem.<br />
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CHAPTER 1<br />
W HY YOUR PRODUCTLAUNCH<br />
CAN FAIL<br />
Intheintroductiontothise<strong>book</strong>,youlearnedthatamajorityofproductlaunchesfail.Thesame<br />
studyfoundthatlessthan3%ofconsumerpackagedgoodsmanagedtoexceed$50milionin<br />
first-yearsales.<br />
Butwhatcouldbethereasonwhysomanyothersexperiencedfailure?Maybeit’sduetolackof<br />
preparation.Ormaybebecausetheproductfailedtodeliver.Understandingthereasonsbehind<br />
thesefailurescanhelpyouprepareaccordingly.<br />
Let’stakeacloserlookatsomeofthereasonswhyyourproductlaunchmayfail:<br />
1.Youfailtotargettherightmarket-Whendevelopinganewproduct,it’s<br />
onlynaturalthatyouneedtodeliversomethingthatpeoplewilwanttobuy.However,thesame<br />
productmayexperiencediferentlevelsofacceptanceorappreciationindiferenttargetmarkets.<br />
Somemarketersmaybetargetingtheirproducttothewrongmarketandexperiencefailure.<br />
Maybetheirtargetaudienceisn’tinterestedintheproduct,ortheydon’thavethefundsforit.<br />
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Remember,thatjustbecausethattargetmarketneedstheproduct,itdoesn’tmeanthatthey’l<br />
buyit.Infact,alotofadvertiserscouldbemissingoutontheirpotentialaudiencebytargeting<br />
thewrongmarketaccordingtoGoogle’sVPofMarketing,LisaGevelber.Forexample,only31%<br />
ofmobilesearchersforvideogamesaremenbetweentheagesof18and34.<br />
2.Youlaunchedbeforetheproductisready–Oneofthebiggest<br />
mistakescompaniesmakeisinlaunchingtheproductbeforeit’sthoroughlyready.<br />
Maybeyou’regetingpressurefromhigher-upsormaybeyourcompetitorsjustlaunchedsomethingsimilar.Youmightfeelcompeledtolaunchtheproductdespitenothavingtesteditthoroughly.Soyou’rejustdeliveringaproductthathasahugechanceofbeingflawedorincomplete.<br />
3.Yourproductdidn’tliveuptothehype–Intheirexcitement,many<br />
marketersendupbuildingtoomuchhypeabouttheirupcomingproductlaunch.Whenaproduct<br />
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isalreadysohypedup,youriskfailingtoliveuptotheconsumers’expectations.<br />
Youmayoverstatethebenefitsoftheproduct,orpromisecapabilitiesandfeatureswithoutbeing<br />
abletodeliveronthem.Thismeansyou’lhaveabunchofdisappointedcustomerswhenyour<br />
productfailstoliveuptothehype.<br />
4.Yourcompanycan’tsupportfastgrowth–Youmayhavegoteneverythingright–youbuiltandlaunchedyourproductsuccessfuly,butwhat’snext?Doyouhave<br />
aplaninplaceincasetheproducttakesof?<br />
Somemarketersfailtothinkbeyondtheproductlaunchandendupbeingunabletosupportthe<br />
fastgrowthresultingfromtheproduct’ssuccess.<br />
Wilyoubeabletodeliverthesamequalityofproductsifyouneedtoproducemoreunitsdueto<br />
highdemand?Ifnot,there’sachancethatyourproductwilfailinthelongrun.<br />
Therecouldbemanyotherfactorscontributingtothefailureofaproduct.Thesearethebiggest<br />
andmostcommoncauses.Andyoushouldprepareyourselfforthem.<br />
Inthenextchapter,you’lgetastep-by-stepguidetohelpprepareyouforaproductlaunch,and<br />
combattheseissues.<br />
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CHAPTER 2<br />
STEP1:EVALUATEYOUR<br />
PRODUCT<br />
Thefirststeptoasuccessfulproductlaunchisproductevaluation.Tonsofnewproductsflood<br />
themarketeveryday.Ifyourproductdoesn’tstandout,orofersomethingextremelyuseful,<br />
there’sahugechanceit’sgoingtogetlostamongtheseaofothernewproducts.Thatmakesit<br />
crucialforyoutothoroughlyanalyzeyourproductanddetermineitsvalueandsuitabilityinthe<br />
market.<br />
Askyourselftheseimportantquestionstounderstandwhetheryourproducthasthequalities<br />
thatwilmakeitsuccessful:<br />
1.Doesitoferuniquefeatures?– What’sthepointofbringingsomething<br />
tothemarketthatconsumershavealreadyseen?Youneedtooferthemsomethingthatwilget<br />
theiratentionandwilbeofinteresttothem.<br />
2.Wilithavemassappeal?–Iftheproductisgoingtoappealonlytoasmal<br />
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niche,theremightbeaproblemkeepingitinthemarketinthelongrun.Considerwhetheritwil<br />
seltodiferentdemographics.<br />
3.Canitsolvetheirproblem?– Peoplewilbemorelikelytobuyyourproduct<br />
ifithelpsthemsolveanissue.Maybeitcouldbeanissuerelatedtotheirwork,oraproblem<br />
aroundthehouse.Ifyourproductofersconsumersasolution,itimprovesitschancesofsuccess<br />
4.Isiteasytouse?–Thinkabouthowyourtargetmarketwilbeusingtheproduct.<br />
Wilitbedifficultforthemtolearnhowtouseit?Orcanyougivesimpleexplanationsabouthow<br />
itworks?Ifit’stoocomplicated,there’saseriouschanceoffailure.<br />
5.Doesthecostmatchitsvalue?– Youmightneedtoseltheproductata<br />
costhigherthanyourcompetitors’duetotheexpensesyou’veincuredindevelopingit.Ifyou’re<br />
oferingsomethingnewanddiferent,thiscouldbeperfectlyreasonable.Butifpeoplecaneasily<br />
findasimilarproductwiththesamefeaturesatamuchlowerprice,yourproductmightnotsel<br />
wel.<br />
6.Canyoubackupyourclaims?–Ifyou’remakingboldclaimsaboutyour<br />
product,youneedtobackthemupwithproof.Peopleneedtotrustyouandyourproductbefore<br />
theybuyit.Ifyoucanprovidesuccessstoriesorstudiesandreviewstobackupthoseclaims,this<br />
wilimproveyourchancesofsuccess.<br />
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Whenyouknowyourproductwel,youcaneasilyaddressthedoubtsandquestionspeoplemay<br />
haveaboutit.Beingpreparedwithathoroughproductanalysiswilalsohelpyougainclarity<br />
aboutyourproductandcomeupwithaconvincingsalesproposal.<br />
CHAPTER 3<br />
STEP2:STUDY YOUR<br />
AUDIENCE<br />
Nowyouhaveanexcelentproducttosel,butyouhavetofindtherightpeopletoselitto.Who’s<br />
goingtobuyyourproduct?Howcanyoumarketittothem?Whatvaluepropositionwouldthey<br />
bethemostinterestedin?<br />
Thesearesomeimportantquestionsyouhavetoanswerbeforeyoucanlaunchyourproduct.So<br />
studyingyourtargetaudienceisthenextthingyouneedtodotodevelopawinningstrategyfor<br />
promotingthenewproducttothem.<br />
Hereareafewusefultipstohelpyouout:<br />
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•What’syourtargetdemographic?<br />
Takeagoodlookatyour<br />
product,andaskyourselfwhatdemographicwouldvalueitthemost.Studyingdetails<br />
aboutthedemographicwilhelpyoumarket<br />
yourproductmoreefectively.Thestudywil<br />
involvethegenderofyourtargetconsum<br />
ers,andtheagegroupunderwhichtheyfal.<br />
Maybeyou’vecreatedanew gadgetthat<br />
teenageboyswillove.Sostudythisdemographiccarefulytounderstandwhereand<br />
howyoushouldmarkettheproduct.<br />
Youshouldalsotakeacloselookattheir<br />
income category and theireducational<br />
background.Thiswilhelpyoucomeupwith<br />
therightpricingfortheproduct.Itwilalso<br />
helpyouunderstandthekindofsalescopy<br />
youshouldcreateforthedemographic.Find<br />
outtheirgeographiclocationandspending<br />
habitsaswelsoyoucanthendevelopa<br />
customerprofileorpersona.<br />
•Whatare theirinterests?<br />
Studyingyourtargetaudienceinvolvesunderstandingtheirinterestssothatyoucan<br />
makeuseofthatknowledgetomarketthe<br />
product.Whatkindof<strong>book</strong>sdotheyread?<br />
DotheywatchalotofmoviesandTV<br />
shows?Ifso,thenwhatkind?Dotheyliketo<br />
listentomusic?Whatgenreofmusicdo<br />
theyseemtolikethemost?Whataretheir<br />
personalvaluesandreligiousbeliefs?You<br />
canmakeuseofthesedetailstomarketthe<br />
productlaunchin-tunewiththeirinterests.<br />
•Wheredotheyshop?When<br />
you’relaunchinganewproduct,youhaveto<br />
thinkaboutthedistributionmethod.This<br />
meansyouwilneedtogainabeterunderstandingofwhereyourtargetmarketshops.<br />
Forinstance,youmightbeselingyour<br />
productthroughdistributorsorretailers.<br />
Thismeansyou’lneedtofindonesthatcan<br />
reachyourtargetcustomerswithyourvalue<br />
proposition.<br />
Doesyourtargetaudienceprimarilyshop<br />
online?Ifso,where?Whatsearchterm<br />
wouldtheyusetofindyourtypeofproduct<br />
online?Youwilneedtointegrateyourproductlaunchstrategywithsearchengineoptimization(SEO)sothesesearcherscanfind<br />
yourproduct.Maybetheyshopfromacom<br />
binationofonlineretailersandbrickand<br />
mortarstores.Usegeo-targetingsothe<br />
retailshopsselingyourproductwilbe<br />
amongthetopsearchresults.<br />
74%ofshopperssearchonline toseeif<br />
itemsarein-stockatanearbystore.59%<br />
lookformapsthatdisplaywhichstoreshave<br />
theitemtheysearchedfor.75%lookforthe<br />
priceoftheitematanearbystore.Sohaving<br />
thesedetailsreadilyavailablecan<br />
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dramaticalyimproveyourefortstomotivate<br />
store visits ifyou’re distributing<br />
throughbrickandmortarshops.<br />
• Whichmediachannelsdo<br />
they use? – Whenstudyingyour<br />
targetaudience,oneofthemostimportant<br />
factorstoconsideristhemediachannels<br />
theyuse.Whichmediaoutletshelpthis<br />
targetcustomerbaseinfindingproducts<br />
similartoyours?Dotheyreadnewspapers<br />
orormagazines?Ifso,whichones?Insteadof<br />
wastingyourefortsonspreadingads<br />
througheverynewspaperandmagazine,<br />
findingthemostrelevantchannelswilbe<br />
themostefectiveandinexpensivemethod.<br />
Additionaly,findoutwhichsocialmedia<br />
platformstheyaremostliketouse.Maybe<br />
theyuseYouTubethemost,soyoucould<br />
comeupwithshortpromotionalvideosand<br />
postthemonyourYouTubechannel.Oryou<br />
couldworkwithYouTubeinfluencers,and<br />
havethem contributeto promoting the<br />
prproductlaunch.<br />
Takealookattheagedistributionreporton<br />
topsocialnetworkstogiveyouafairideaof<br />
whichchannel(s)mightbebestforyou.<br />
Whilethereareanumberofvariablesthat<br />
canhaveanimpactonyourproductlaunch,<br />
havingextensiveandaccuratemarketintelligencecanoptimizeyourefortsindevelopingyourlaunchstrategy.<br />
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Whilethereareanumberofvariablesthatcanhaveanimpactonyourproductlaunch,havingextensiveandaccuratemarketinteligencecanoptimizeyourefortsindevelopingyourlaunch<br />
strategy.<br />
Takethetimetostudyalofthesefactorssoyoucanselecttherightmediachannel,andcrafta<br />
compelingsalescopythatencouragestheaudiencetobuy.<br />
Makeuseofthistemplatetostudyyourtargetaudience.Youcaneditthecharacteristicsoradd<br />
morefactorsasneeded.<br />
AgeGroup Milennials YoungAdults Middle-Aged<br />
LanguagePreference<br />
EducationLevel<br />
IncomeCategory<br />
MediaPreference<br />
Lifestyle<br />
CreditCardOwner<br />
InternetSavy<br />
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CHAPTER 4<br />
STEP3:STUDY YOUR<br />
COMPETITION<br />
Yourproductlaunchstrategywon’tbecompletewithoutathoroughanalysisofyourcompetitors.Whenyouhaveaclearideaaboutsimilarproductsandcompetingbusinesses,it’lhelpyou<br />
understandhowtopositiontheproductinafreshanduniqueway.Havinganextensiveknowledgeaboutyourcompetitionalsogivesyouaclearideawhatyou’reupagainst,soyoucandevelopyourstrategyaccordingly.<br />
Hereareafewtipsonconductingcompetitoranalysis:<br />
•Determineyourcompetitors– Thefirststepwilbetodeterminewhoyour<br />
competitorsare.Thinkbusinesseswhoselsimilarproductsorservicestothesametargetaudience.Findoutthefeaturesandqualitiesoftheproductsorservicestheysel.Youalsoneedto<br />
takealookattheirmarketshareandtheirmarketingstrategies.Findouthowtheyreachoutto<br />
thetargetaudience.<br />
Colectalthesedetailssoyoucanmoveon<br />
to the nextstep ofdetermining their<br />
strengthsandweaknesses.Thisenables<br />
youtocomeupwithwaystocapitalizeon<br />
theirweaknessesandworkontrumping<br />
theirstrengths.Seethepotentialthreats<br />
theypose,soyoucancomeupwithastrate-<br />
gytoprepareforthem.<br />
•Compareyouroferings –<br />
Yournextstepwilbetocomparewhatyou<br />
oferwithwhatyourcompetitorsareofering.Seehowyouranknexttothem,soyou<br />
canunderstandwhereyouneedimprovement.Youcanuseacompetitorgridtolist<br />
theirweaknessesandstrengths,whichwil<br />
thenhelpyouunderstandyourdiferences.<br />
Here’satemplateforacompetitoranalysis<br />
grid,whichyoucanmodifyasperyour<br />
needs.<br />
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Competitor<br />
<strong>Product</strong>/<br />
ServicePrice<br />
<strong>Product</strong>/<br />
ServiceFeatures<br />
Facility Strength Weaknes Strategy Diferences<br />
Agoodcompetitoranalysiswilhelpyouunderstandmarketgapsandmarkettrends.You’l<br />
beabletodeterminewhatkindofcompetitiveadvantageyouhave,andhowyoucanposition<br />
thattoyourtargetaudience.<br />
CHAPTER 5<br />
STEP4:ESTABLISH YOUR<br />
GOALSFOR THELAUNCH<br />
First,takealookatsomeofthetypesof<br />
productlaunchgoalstogiveyouanidea:<br />
thesuccessofthelaunch.Withagoalin<br />
place,everyoneintheorganizationcanwork<br />
togethertowardsasimilaroutcome.It’ltel<br />
themexactlywhattheyneedtodo.However,<br />
yourgoalneedstoberealisticandmeasurableinadditiontobeingdefinedbyatimeframe.<br />
•Salesgoals–Youprobablyalreadyhavesalesexpectations.Definehow<br />
manyunitsyourwishtoselwithinaparticulartimeframe.Forexample,youwantto<br />
sel1,000pairsofshoeswithintwomonths<br />
ofyourlaunch.<br />
Establishingagoalforyourproductlaunchiscrucial.It’sthebackbonetotheentirelaunch<br />
strategy.Ifyoudon’thaveasetgoalinmind,youmighthavenoideahowtomeasure<br />
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•<strong>Product</strong>awarenessgoals–<br />
Thistypeofgoalconcernstryingtomakethe<br />
marketawareofyourcompanyandyourproduct.Youcansteeryourmarketingefortstowardsbuildingthatawareness.Forexample,<br />
youwant100socialmediamentionsand<br />
1000websitevisitswithinthefirstweekof<br />
launch.<br />
• Prospectgoals–Thistypeof<br />
launchgoalisespecialyimportantforthose<br />
whohavealongleadtimetoselnewproducts.Outlinethenumberofprospectsyou<br />
expecttogetfromtheproductlaunch.Forexample,youwanttoidentify500prospectsin<br />
thefirstsixmonthsoflaunch.<br />
• <strong>Product</strong>defectgoals–<br />
<strong>Product</strong>defectsareinevitablealthoughyou<br />
mighthavedonewhateveryoucouldtoproducesomethingwithminimaldefects.You<br />
cansetagoaltoresolveanyissuethat<br />
comesupsoastoavoidletingitafectthe<br />
restofyourgoals.Forexample,youwantto<br />
addresshigh-priorityissueswithin48hours<br />
ofbeingbroughttoyouratention.<br />
•Customergoals–Customer<br />
goalsareessentialifit’snotyourfirstrelease.Haveagoalinplacetomeasurehow<br />
yourexistingcustomerbaseisadoptingthe<br />
newproduct.Forexample,youwanttosee<br />
atleast50customerswhowanttoupgrade<br />
withintwomonthsoflaunch.<br />
Youcouldcomeupwithdiferentgoalsfora<br />
shorterandlongertimeframesothatyou<br />
canmeasurethesuccessoftheproductin<br />
thelongrun.Thesegoalswilhelpyoudraft<br />
theperfectstrategythatwiladdresseach<br />
objectiveefectively.<br />
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CHAPTER 6<br />
STEP5:DEVELOPA STRATEGY<br />
Whileeveryproductlaunchstrategyisdiferentbasedontheproductandindustry,thereare<br />
threeessentialelementsthateverywinningstrategyneedstoaddress.Theseelementswilthen<br />
formthebasisoftherestofyourlaunchstrategy.<br />
Askyourselfthesethreeimportantquestionswhenyou’redevelopingastrategytolaunchyour<br />
product:<br />
1.How wilyoudelivertheproducttothetargetmarket-<br />
You’vedonethoroughresearchontheproductandyourtargetmarket.Nowtheimportantthing<br />
toconsiderishowyou’ldelivertheproducttothismarketthatyouhavedefined.<br />
Sinceyou’vealreadydeterminedwhereyourtargetcustomersaremostlikelytoshop,you’lnow<br />
havetothinkofacost-efectivemethodofdeliveringtheproducttothemwithoutacompromise<br />
onquality.<br />
Thinkaboutwhetheryoushouldgoforadirectorindirectdistributionchannel.Maybeyoucould<br />
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Youwilalsoneedtoconsidertheneedsoftheend-user.Maybealivedemonstrationwilefectivelyconvincethemtobuytheproduct.<br />
makeuseofbothchannels.Directdistributionwouldbeselingyourproductthroughyourwebsiteorthroughyourflagshipstore.Indirectwouldbeselingitthroughanintermediarylikea<br />
wholesalerorretailer.<br />
Takealookatthetablediferentiatingbetweenthetwochannels.<br />
WhoMakestheSale? Web-DistributionChanels PhysicalDistributionChanels<br />
You(Direct)<br />
Yourcompany<br />
website<br />
Directsalesthrough<br />
flagshipstores<br />
•Ecommercesites<br />
•Appplatforms<br />
•Aggregators<br />
•Socialcommerce<br />
•Two-stepdistribution<br />
•OEM distributors<br />
•Dealers<br />
•Retailers<br />
•Value-addedreselers<br />
•System integrators<br />
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Incaseofelectronics,cars,andsoftware;it’spossibletocreatedemosthatwilshowtheend-userexactlywhatthey’regeting.Ifyou’reseling<br />
clothing,however,you’lneedtrialroomsforprospectivebuyerstotrytheproductonthemselves.Ifyou’reonlyselingtheproductonline,youcould<br />
givethemtheoptiontotrytheproductathomeandthenreturnthemifitdoesn’tfitoriftheydon’tlikeit.<br />
2.Howwilyoupromotetheproduct-Thepromotionstrategyisavitalpartofyourproductlaunchstrategy.Theideaisto<br />
startthepromotionwelaheadofthelaunchdatesothatyouhavebuyerslinedupbythetimeyoustartdistributingtheproduct.Howearlyyouhave<br />
tostartthepromotionmaydependontheproduct,butitmightbeagoodideatostartatleastthreemonthsbeforeyourlaunchdate.<br />
Youcanusesomeoralofthepromotionchannelsbelow:<br />
•Website–Withmorethan3bilioninternetusersworldwide,it’ssafetosaythatyourwebsiteisthefaceofyourbusiness.Soit’simportant<br />
thatyouprioritizedesigningasitethat’sSEO-friendly,wel-organized,andaestheticalypleasing.<br />
Yourwebsitecopyshouldbepersuasiveandcompeling;makesureyouhaveitreadyatleastamonthbeforelaunch.Youcanstartdisplayingimage<br />
andvideoteaserstwoweeksbeforethelaunchdatesoastobuildexcitementandcuriosity.<br />
•Socialmedia–Socialmediachannelscanbeyourbestfriendwhenpromotingyourlaunch.They’recostefectiveandhaveawidereach,<br />
meaningasinglepostcouldeasilyreachthousandsofpeopleatatime.Generatebuzzusingsneakpeeksthatareeasytoshare,sothattheycan<br />
reachamultitudeofpotentialcustomers.<br />
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3.Howwilyouhelpcustomers? –Forlong-termsuccess,it’simportantthat<br />
youhaveasupportsysteminplacetoaddresscustomercomplaintsandqueries.Ifthingsgo<br />
wrong,youwilhavethepreparationtofixtheissues.<br />
Determinehowyouwilhandlecustomerfeedback–maybeyou’lrespondtoeveryfeedbackor<br />
incorporatesomeoftheusefulones.Makesureyouhaveacrisisplay<strong>book</strong>readysothatthere’sa<br />
protocolinplaceforanyconceivableproblemsuchasbadpressorlawsuits.<br />
PRODUCTLAUNCHSTRATEGYEXAMPLES<br />
Hereareafewideasonproductlaunchstrategiesthatyoucanuse:<br />
•Makeuseofinfluencers–Youcantapintothevaluableaudienceresourcethat<br />
influencersalreadyhavebyreachingouttothem.Lookfortoptomid-levelinfluencersinyour<br />
nicheandgetthemtotelyourstorytotheirfanbase.Forthistowork,youwilneedtobuilda<br />
strongandgenuinerelationshipwiththeinfluencers.<br />
•Livedemos/freesamplings–Letyourtargetcustomersexperiencefirsthand<br />
whatit’sliketouseyourproduct.Maybeyou’relaunchinganewvideogame,havealaunchevent<br />
wherepeoplecantrythegameforfree.Ifyou’relaunchinganewlineofediblegoods,arangea<br />
freesamplingevent.Otherwise,youcouldalsomakethemostoffoodfestivalsandmalstoreach<br />
yourtargetcustomers.<br />
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•Createexcitingcontests–Engageyourtargetaudiencebycreatingacontest<br />
orcompetitionaroundyourproductlaunch.Comeupwithexcitingprizesthatarevaluable<br />
enoughforthepublictobeinterestedin.Youcanintegratethisstrategywithinfluencersandhave<br />
thempromotethecontesttotheirfanbase.<br />
Nowyouhaveaclearideawhatyourproductlaunchstrategyneedsandhowyoushouldgetstarted.Remembertostartplanningyourstrategyearly,sothere’sampletimetoprepareandtomake<br />
adjustmentsinthestrategyasnecessary.<br />
CHAPTER 7<br />
ESSENTIALTOOLSFOR A<br />
SUCCESSFULPRODUCTLAUNCH<br />
Whenlaunchinganewproduct,yourpromotionandlaunchstrategyisoftheutmostimportance.<br />
Thereareseveraltoolsavailableinthemarkettoleverageyourefortsandensureasuccessful<br />
productlaunch.<br />
Takealookatsomeofthemostuseful,must-havetoolswhenpreparingtolaunchanewproduct:<br />
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1.Unbounce<br />
Withnewproducts,youwanttomakeas<br />
manyconversionsaspossibletomakeup<br />
fortherevenuespentindevelopingtheproduct.Unbouncehelpsyoucreatelanding<br />
pagesthatdriveconversionswitharangeof<br />
pre-made templates available.You can<br />
easilycreateandcustomizemobileresponsivepagestomeettheneedsofmobile<br />
users.<br />
2.GoogleAnalytics<br />
WhocouldmissGoogleAnalyticswhenit<br />
comestomarketingandanalyticstools?<br />
Whilethefactthatit’savailableforfreeisalreadyagoodenoughreasontouseit,the<br />
bestpartisthatitprovidesin-depthanalysis<br />
onuserbehavior,siteusage,andkeywords.<br />
Itcanhelpyouunderstandhowusersinteractwithyoursitesothatyoucanmakenecessaryimprovementsaccordingly<br />
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3.MailChimp<br />
Every emailmarketing campaign needs<br />
MailChimp,sothismakesforanecessary<br />
toolwhenyouhavetomarketyournew<br />
productviaemail.Youcancolectemailaddresses,andgiveyoursubscriberswithregularupdatesabouttheproduct.Youcanuse<br />
theauto-responderfunctionalitytosend<br />
countdownemailsthatwilhelpbuildhype<br />
aroundthenewproduct.<br />
4.ReTargeter<br />
ItIt’sessentialtostartearlywhenbuildinga<br />
listtoremarkettoanaudience.Youcanuse<br />
theReTargetertooltodropcookiesfor<br />
first-timesitevisitors.Thiswilthenenable<br />
youtoremarkettothemlaterandleverage<br />
yourproductlaunchmarketingeforts.The<br />
toolhelpsyoucreateeye-catching,targeted<br />
adstodriveconversionsandincreasebrand<br />
awareness.<br />
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CHAPTER 8<br />
EXAMPLESOFSUCCESSFUL<br />
PRODUCTLAUNCHES<br />
<strong>Product</strong>scomeandgoeveryyear,butsomeproductlaunchesaresosuccessfulthatthey<br />
becomememorableassomeofthebestmarketingcampaigns.<br />
Let’stakealookatafewexamplesoftheseproductlaunchessoyoucangetsomevaluableideas<br />
fromthem:<br />
1.McDonald’sRealFruitSmoothies<br />
InJuly2010,McDonald’sdecidedtointroduceanewitemintheirmenutoredefinehowconsumersperceivedfruit.SotheylaunchedtheirrangeofRealFruitSmoothies,whichresultedina5.7%<br />
boostinsales.Howdidtheypulthisof?Hereareafewkeytakeawaysfromtheirlaunch–<br />
•Clearvalueproposition<br />
McDonald’sclearlycommunicatedtheirpitchbasedonvaluewiththeaimtoprovideafordable<br />
indulgence.Theystressedonthefactthatcustomerscouldget12-ouncesmoothiesfor$2.29,<br />
whichishalfthepriceofanalternativefromStarbucks.<br />
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•Videoads<br />
McDonald’salsocreatedTVcommercialsto<br />
boosttheirproductlaunch.ThesecommercialswerepostedonYouTubetoreachoutto<br />
milennialswhospendmoretimewatching<br />
videosontheinternetthantheywatchTV.<br />
•Freesamples+contest<br />
Notexactlyacontestperse,butMcDonald’smadeitpossibleforcustomerstowinafree<br />
smoothiebyplayinganinteractivegame.Thismighthavecostabit,butgaveplentyofup-seling<br />
opportunities.Theyalsomadeiteasyforfanstoparticipateandprovidedanupgradetoanexistingappthatcustomersalreadyhaveinstaledontheirphoneinsteadofmakingthemdownload<br />
aseparateapp.<br />
Thisfreesmoothiecampaignworkedsowelthattheyhadtostopgivingoutfreesamplesinthe<br />
weeksleadinguptothecampaignbecausetheywererunningoutoftheirsupply.Theyevenhad<br />
tocanceltheirin-restauranttastingevent,whichhadbeenscheduledtobeheldbetweenJuly<br />
22ndandJuly24th.<br />
2.Samsung3DTV<br />
InIn2010,Samsunglaunchedthefirstconsumer3DLEDTVinthemarket,whichhas<br />
revolutionizedthetelevisionindustry.When<br />
executingthelaunch,theirmaingoalwasto<br />
createawarenessaboutthetechnologyand<br />
theproduct.Theymadeuseofsocialmedia<br />
channelstogeneratebuzzaboutthenew<br />
technologyreceivingmorethan2.4bilion<br />
impressions.<br />
HerearesomeofthemethodsSamsung<br />
usedtofuelthisproductlaunchsuccess:<br />
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• Publicitystunt<br />
Themostremarkableandmemorablefactor<br />
oftheSamsung3DTVpromotionwasthesurpriseperformanceinTimesSquarebyThe<br />
Black-Eyed Peas.The performance was<br />
filmedbydirectorJamesCameronin3Dand<br />
thenusedfordrivinganintegratedcampaign.<br />
• Influencerevents<br />
Samsungalsoorganizedanafter-partywith<br />
celebritiesandbrandedB-boys.Theparty<br />
involved a multi-screen 3D cube which<br />
showcasedwhatthetechnologycando.The<br />
partywasintendedtogiveinfluencersand<br />
mediapersonnelafirsthandexperiencewith<br />
Samsung’s3Dtechnology.<br />
•Socialmediabuzz<br />
SamsungmadeuseofFace<strong>book</strong>andTwiter<br />
todrivefanstowatchtheperformance<br />
online.Therewerethousandsoftweetsgeneratedfromtheevent.Theyalsoadvertised<br />
thenew TVontheirYouTubehomepage,<br />
whichreached12%oftheirtargetaudience.<br />
Theseareonlyafractionofthemostsuccessfulandmemorableproductlaunchcampaignsthathaveoccuredinthelastseven<br />
years.Whiletheyarebignamesintheirrespectiveindustries,youcanstiladaptthe<br />
strategiesandexampleswithoutexceeding<br />
yourproductlaunchbudget.<br />
Thekeyistoplancarefulyandoptforthe<br />
mostcost-efective channels like social<br />
mediatogeneratebuzzandpromoteyour<br />
newproductlaunch.<br />
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CONCLUSION<br />
Soyou’velaunchedyourproductsuccessfuly,andmanagedtoreachyour<br />
goals.Whatnow?Manymarketersbecomesatisfiedwiththeresults,so<br />
theystoptheireforts.Thiscouldbeahugemistakeasyouneedtocontinuepromotingyourproducttoyieldlong-term<br />
results.Makesurepeople<br />
haveeasyaccesstotheproduct,andtoinformationrelatedtotheproduct.<br />
Todoso,youcouldprovidethemwithvideotutorialsorblogpostsdetailing<br />
howtheycanmakethemostofthenewproduct.Theideaistoensurethat<br />
peoplecontinuetofindaninterestinyourproductandremainloyalcustomerstoyourbrand.Makethemostofthestepsoutlinedinthise<strong>book</strong>to<br />
comeupwithanefective,winningstrategyforyournextproductlaunch.<br />
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WHATDO IDO NEXT?<br />
Itcanbeexhilaratingyetfrighteningtoprepareforaproductlaunch.Withsomanythingstodo,<br />
youmighteasilyfeeloverwhelmed.Soinsteadoftryingtodoeverythingonyourown,whynot<br />
getsomehelpfromprofessionalmarketstrategistsandproductlaunchexperts?<br />
Don’tletbudgetissuesandlackofexposureweighdownyourproductlauncheforts.Contactme<br />
todaytostartplanningyourwinningproductlaunchstrategy.<br />
Therearetwowaysyoucanreachme:<br />
1.FilouttheContactUsformonmywebsite<br />
OR<br />
2.FolowmeonTwiter@shane_barkerandstartaskingyourquestions<br />
YoucanalsogetyourFREE30-minute<strong>Product</strong><strong>Launch</strong>Consultationbyclickingonthelinkbelow<br />
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BookA30MinuteFREE<br />
<strong>Product</strong><strong>Launch</strong>Consultation<br />
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