Corporate affairs, public relations & communications are crucial in developing a healthy vendor vendee relationship. One major branch is the product launch. In this article, we shall talk about the initial stages of a launch, things to keep in mind, after launch strategies, promotions, pre-launch, and much more.
Prior to the launch is a well-planned market research activity in order to get a clear picture of the market, trends, customer interests, etc. Unless you do not learn thoroughly about your user, launching a product wouldn’t make sense. Conduct online surveys, personal interviews, use focus groups, conduct analysis, understand your competitor strategies, pin down your target audience, develop a roadmap, and then proceed.
A key element in every product and marketing decisions taken by the organisation is the positioning statement. It is a brief description of your target market along with a forecast of how you want that market to recognise your brand. All the decisions must and should be parallel to the positioning statement. After thorough research, the next step is writing a well-defined positioning statement. Once the statement is ready, present it to the stakeholders for them to have a clear idea of the market & its density.
Every brand, product, or firm has one go-to marketing strategy to work on. Plan an efficient market strategy that could help as a backbone for the launch.
Set up a team, set a goal for the launch, promote your launch – create promotional content to advertise the launch, launch the product & wait for the results. Sounds pretty simple! It is simple, definitely. Now we got to talk about these steps in detail.
- Choose a theme. What theme would you choose? Bright? Tech-savvy theme? Pleasant theme? Or let’s say how can you decide what theme would suit your product the best? Consider the goal, consider who’s your audience, and keep them in mind, do not consider irrelevant themes, ensure the theme is inspirational for viewers.
- Pick a Venue. Would you select a modern, creative, luxury, historic, or outdoor theme? Again, let your theme and brand correlate & dwell well with each other. Choose an easily accessible location or just simply hire a venue scout. The numbers should always be in mind, you do not want to hire a venue that could fit at least 1000 people when you’ve just invited 100 of them and vice versa.
- Start building hype. Do not talk just about the launch, talk about the product, the brand, and the story behind the brand. Let people know your personal journey, show them a product demonstration, try behind the scenes videos, or sneak peek videos to keep the audience engaged. Start hashtag campaigns, countdowns, offers or vouchers, etc.
Coming to the production sector – lighting, decor, time of launch, food and beverages, seating arrangements, podiums, furniture, stage decor, backdrops like curtains or graphics, background music, any form of entertainment, and maybe a photo-booth to click pictures! Remember first impression is the last impression and you cannot afford to make a mistake during the launch.
Do not forget the press. Newspapers, tv, radio, mobile & emails, magazines, blogs & digital platforms. Place your product everywhere and anywhere. Let the media talk about your brand and promote the launch.
How to promote the product launch?
- Write, write, and keep writing! Talk as much as you can about the event through blogs. Write guest posts, invite people to follow your blogs
- Influencers seem to be affecting the mindset of people a lot these days! Best way to connect with your audience? Ask an influencer to leave a review.
- Crowdfunding platforms are being highly appreciated by humans these days. Use them and promote the event.
- Use social media. Facebook, Instagram, LinkedIn, Pinterest, Twitter, and the list goes on. There are numerous social media platforms with billions of users for you to let them know about your activity.
- Start accepting pre-orders.
- Create amazing content filled with visuals, graphics & videos.
- Invite people to the launch.
The Pre-launch checklist
- Once the launch date is announced, never change!
- Plan Finances and allocate required budget for the launch.
- Get ready with data, company web page, press release articles, etc.
- Ensure that your product is available even before the launch. This can help you with pre orders.
- Statistics say that 80% of the products fail because of bad design. Get a concrete design!
- Timing is the key! Poor timing can break the entire scenario.
- Consider launching the product on a digital platform.
- Prepare all the designs, graphics, leaflets, brochures, emails to send, etc.
- Get ready to support new users, respond to comments, tracking your campaign results.
- Invite journalists, potential clients, partners, or business analysts.
After launch analysis – What can possibly go wrong?
- Everything can go wrong with an unclear requirement or an undefined strategy. Hence, more emphasis on strategies.
- The first step we spoke about is efficient market research. 19% of the organisations fail due to lack of analysis, cost & competitor capabilities.
- Management failure, improper timelines, lack of internal communications, unclear resource allocation.
- The Product may fail after the launch due to performance issues.
- Availability is what we spoke earlier about. The brand image is tarnished if the product is unavailable or maintenance is not up to the mark.
Product launches are fun. You get to meet new people, create an image of yourself, present the best work, influence people to purchase, understand new tactics, etc. But we must also not neglect the roadmap, timeline & at what dimensions everything could possibly go wrong.