You may be asking yourself how to launch a product? Well fear not we are here to help. By now you’ve already gone through the product development process and are excited to get your new product into the market, but there are a few things you have to consider before your product is ready for customers.

At Your Favourite Story, we’ve worked with our clients to launch products for over 11 years. Our clients all have very different needs and customer bases, but each want to get the most out of their product strategy. We’ve put together a few important tips to consider when launching a new product or service to guide you into market.

 

Product Launch Plan

Early Influencers

This doesn’t mean you have to shell out the big bucks to have Kendall Jenner promote your company, but it does require researching people with larger social followings who may have influence over your buyers. Many online personalities speak to their audience so it feels like a friend – it’s been noted that users are more likely to trust a product recommendation from someone they feel connected to.

 

Product Launch Plan

Think of the user

In all the excitement of launching a new product, it can be easy to forget your product needs to go somewhere. The people who use your product are the key to creating your launch strategy – after all, there’s no point in having a great product if no one is using it. One way to do this early on is to target your audience in places your buyers frequents both online and offline. For example, a fashion brand may choose Instagram, or Pinterest to get the word out about their new product.

 

Product Launch Plan

Start selling before it hits the market

 

Most people want to be the first to have the newest and coolest products. Pre-orders can help your company gauge interest and give you an idea of where you need to invest to further advertise. This also means you can start seeing sales numbers long before your product hits the market.

 

Product Launch Plan

Plan Your Product Launch 

This should go without saying, but the work you do before your product launch has a direct impact on how your strong your sales numbers are. A product can’t survive without marketing and advertising at some level. Creating a strong product launch strategy for each of the three pillars can ensure your product will be given the best chance to reach your target market and capture all sales opportunities. At Your Favourite Story, we focus on Pre-Launch, Launch and Post-Launch strategies to get our clients the best return on their investment.

 

Product Launch Plan

Create Buzz

Since you are starting from scratch with your first product launch, you will have to work to build your brands reach. Creating buzz using social media can help push your product further if done correctly. We’ve talked about the importance of creating buzz before, check it out here. The key is to create buzz as early as possible across as many touchpoints as possible.

 

Product Launch Plan

Ask for Help

It doesn’t hurt to ask for help – experts are able to point you in directions you may have never considered and help find profit regions often overlooked. Assessing your strengths and weaknesses can help avoid failure and put you one step ahead of competitors. Analytics can sometimes be tricky for businesses just starting out – having someone who has worked through product launches to guide your launch can be beneficial. From setting up tracking, creating images, thinking of in-store and digital displays, experts are able to help you get the most and continue to grow.

Got a brief? We love a challenge, contact hello@yourfavouritestory.com.

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