Ingredients For a Successful Product Launch

Making your own way in the world of business is a remarkably satisfying experience for everyone, but especially for us women. After all, we’ve spent generations hitting the glass ceiling. We’ve been told to know our place and stay in our lanes. We have lost opportunities to male counterparts and are still fighting the gender pay gap. However, there has never been a better time for a female to start a business and launch a new product.

So what can you do in your product development and launch planning to ensure your product fills a need and resonates with your target audience? Step one in having a successful product launch is to make sure to test your product and carry out extensive market research in creating your prototypes. Your product should also be intrinsically tied to your ethos, branding, and mission statement.

But a successful product starts with a successful product launch. And here are some ways in which you can ensure one…

Define a Marketing Strategy with Clear and Measurable Goals

As with anything in business, you need to know what success looks like before you can achieve it. What will a successful launch look like to you? How many units sold or pre-orders? Or the buzz generated online? Perhaps it will be upselling opportunities? Or simply the new product’s propensity to increase your following online? There are no right or wrong answers but you need to have clear and measurable goals in mind if you’re to quantify your launch’s success.

Start to Generate Buzz with Your Marketing Campaigns

Well in advance, it behooves you to start generating buzz around your new product on social media. You should know which platforms your target audience is using, and you should set up an online presence on those platforms. Tease your brand and your product’s features and uses. Showcase its unique aesthetic or design elements. And come up with an inventive hashtag (hashtag proliferation can be a useful performance metric). Start positioning an SEG banner in places where it will be seen by your ideal customers. Get people talking about your brand and your new product online and in the real world.

Find Out which Top Influencers Matter to Your Customers… and Get Them on Your Side

If your product is aimed at a millennial audience, getting social influencers on your side can be a great way to help maximize the buzz around your new products. Younger consumers trust influencers because they’re consumers themselves. In fact, 40% of millennials believe that their favorite YouTube creators understand them even better than their friends do.

So make an effort to find out which influencers matter to your target audience. Give them early access to your product for review and maybe even give them their own promotional code to give their following a discount on it. While this might mean a slight dent in your margin, you can potentially shift more units at the point of launch as well as introducing your brand to a whole new audience.

Build Up to the Big Day

Don’t forget to have press releases ready to go out, and strong customer support in place. You want to be sure your customers have the best possible experience with your brand. Sometimes it’s simply customer service that can set your product apart from similar products in the marketplace.

With all the preparations in place, all that’s left is to tackle the big day itself. But don’t worry, we’ve got you covered there, too. Take a look at this article which will guide you through everything you need to do to prepare for the big day!