Fashionably late doesn’t often fly when it comes to product launches. Being late to the game will often have dire effects on your sales and put you behind the competition. On the other hand, rushing a launch that isn’t ready won’t be any better – planning your launch timeline as early as possible will help you avoid this issue. When creating a product launch timeline, it’s important to give yourself time, plan out key points in your timeline and resource enough staff to execute it. At Your Favourite Story, we’ve worked with our clients to launch products for over 11 years. Our clients all have very different budgets and goals. We’ve put together a few tips we’ve found work best when managing a product launch.
Product Marketing – Over plan everything
You don’t want to be scrambling for time and resources when your product launch is going live in less than a week. Giving yourself and your team a realistic amount of time to organise your product launch and enough time in case to fix any emergencies or hiccups that could happen between the planning and launch phases. This is a problem for businesses of all sizes, some of the largest businesses rush to launch their products – even if they aren’t ready. If you’re finding it’s a case of overspending and not being ready for launch, take a look at our advice on going big with a small budget.
Marketing Techniques – Set Clear Goals
Know what is needed from you, what is needed from your team and what you want to achieve – by what date. You need to have a vision of what the end goal looks like and set up milestone goals to keep your team aiming towards it. Think of long term and short term goals so your team can best manage expectations and give you a better idea on timings needed to achieve your overall goal.
New Product Development – Understand your customer
Look at your customers buying habits, choosing the wrong time to release your new product can lose momentum in your strategy. If you’re doing the most in your customer research you should be able to find the most opportune time for the majority of your buyers and even hook a few people who may not know they need your product yet. Being as reactive as possible in the market can keep your company feeling fresh and relevant. Are you launching for the first time? Check out our first time launch guide.
New Product Launch – Choose the right team
Just like the Avengers – choosing the best team for the job will make or break your product launch. Keeping your team on task and ready for anything the project may throw at them is key. Often product launches will have bumps in the road, it can be anything from tech, design or even content. You need to play to the strengths of your staff, if someone is stronger at one aspect they should have a lead on that area of the launch.