Learn how to successfully execute your product launch marketing plan with the help of this guide.
In this article:
The Product Launch Marketing Guide
1. Understand Your Product and Market
The first agenda in your product launch process should be to understand your product and market. As a product manager or product marketer, you should be familiar with these.
It’s important to know what problem your product solves. You should also know who your target end users are and what they need.
Remember — your product’s goal is to meet your target market’s unique needs to make an impact.
You can use these guide questions as you develop your product and even your product launch marketing:
- What strategies and tactics are currently thriving within your industry?
- How can your company cut through the current industry status?
- How will your new product fit in?
- What makes your product different from the other ones in the market?
While you may already have a target market in mind, you need to focus more on creating a single buyer persona. Who among your target market would greatly benefit from the new product you’re launching?
One of the ways to better understand your buyers is to talk to real people who embody your buyer persona. Find out their needs and pain points, and get their insights — then focus your efforts on meeting those.
Once you get these rolling, you can move on to the second step.
2. Create and Share Your Messaging
The second thing to do is to create your messaging, also known as product positioning. This is essentially a simplified introduction to your product.
Here, you only need to highlight the aspects that your buyers will find most valuable. It may sound easy enough, but it can be tough.
It’s difficult to not announce every great feature and benefit your new product offers — and this is exactly what you need to avoid. Your messaging needs to be simple, unique, and persuasive.
Ideally, it’s something you can communicate even within a few seconds, and is often limited to 10 words only for easier recall.
A good product positioning statement includes:
- A tagline
- What problem it solves
- The most important features
- The unique value proposition
Be open to improve and build on your messaging. You can do this by sharing it with others. Use other people as a sounding board to come up with product messaging that will resonate with your target buyers.
Creating a mock press release may come in handy for your product launch marketing. This will align everyone in your company about the product you are launching, and can also help you gauge the effectiveness of your PR.
3. Work With Beta Testers
Beta testers are people you give early access to your new offers in exchange for honest feedback.
You can validate your messaging and unique value propositions with your beta testers. Take note of how they receive your new product and how they interact with it.
You can use their feedback to improve your product and messaging even further. The data from your beta testers can also support your product pitch.
4. Set Your Product Launch Marketing Goals
Setting goals for a new product that has no benchmarks can be challenging. What you can do instead is to set a ceiling for your marketing campaign.
For instance, you can ask, “If everything goes right, what’s the highest we can achieve?” This could be in terms of leads, sales, buyers, etc.
Practically speaking, one’s ceiling is almost never achieved, but that doesn’t mean you shouldn’t set ambitious goals. This will help you gauge how well you did with your new product launch.
5. Prepare Your Market for the Product Launch
If you’re planning to enter an unfamiliar space where you aren’t a known authority yet, it’s best to prepare your market first.
You can do that by creating and releasing relevant content pre-launch. This will help you establish yourself as an industry expert and give you insight into the kind of content that resonates with your market.
Then, you need to figure out how you’ll get the buyers’ attention and how you can drive them down your funnel.
After you’ve determined these, you can start creating the assets that will help you achieve your product launch marketing goals. These are things like email messages, landing pages, videos, and social media posts.
6. Identify Your Channels, Media List, and Influencers
Now is the best time to identify which channels you’ll use to share your message. Make sure to select only those that will benefit you. For instance, choose a channel where most of your target audience already is.
Choose one main channel (e.g. a product launch event), then use other relevant channels (e.g. social media posts and emails) to support it.
Before launch, make sure that your assets are all polished and working right. If you’re staging an event, equip your team to expertly handle anything that could go wrong.
By this time, you should already be well-acquainted with your target market. This will make it easier for you to come up with a targeted media and influencer list to invite to your launch.
This way, you can focus your efforts on people who’re interested and invested on your new product.
7. Develop Your Go-To-Market Strategy
Record all the information you gather and the insights you gain in a document or a deck that’s shareable. Make sure to take down clear notes so it’ll be easy for others to understand your product launch campaign.
Your go-to-market strategy is a documentation of all your launch goals, plans, and activities. This also includes other information that may be relevant to your campaign, like market and competitor analyses.
8. Use The Right Channels
It’s now time to use your chosen channels to launch your new product! Remember, you don’t need to be in every available channel. Just pick the ones relevant to your target audience.
Maximize each channel you use for your product launch marketing. If you prepared the market for your product launch, it’ll be easier for you to get your message across to your intended recipients.
9. Activate the Sales Team
Bring in your sales team to handle inquiries and sales during launch day and the succeeding days. Equip them to turn leads into immediate sales by providing them with all the information they need to make a sale.
During your launch event, give your sales team an opportunity to talk to prospects and customers properly. You can even have a special area for meetings, complete with everything your sales team may need.
10. Create Events for Your Product Launch
Creating a tangible experience for people connects them more with your product and brand. This is why having a product launch event is something you should consider for your campaign.
Aside from the usual event activities, you can also tap into newer technologies to market your new product. You can stream a live video or stage a live demo event for the press, influencers, and your target market.
11. Keep the Product Launch Fresh
While there are people you can immediately convert to customers during your launch, there are also interested buyers who still need a little push.
Keep your new product fresh in their minds by nurturing them post-launch. Make sure to get their contact details so you can send them follow-ups.
This can be in the form of emails, demo videos, free trial offers, and invitations to product-oriented webinars. You can support these with content marketing to keep things consistent.
Don’t forget to guide your sales team along as they get comfortable with selling your new product. Educate and empower them by modeling the kind of performance you expect.
12. Report The Results
You’ve set the benchmarks for your product launch marketing campaign earlier, so now, it’s time to fill those with actual data.
Take some time with your team to analyze the results and evaluate your campaign. Make sure to record your insights as reference for future campaigns.
13. Focus on Retaining Your Customers
After launching your product and gaining new customers, you need to find fresh ways to retain them.
One way to do this is through continuous user education. You can also share testimonials from customers to let others see how your product helped others like them.
A product launch marketing can be exciting and daunting at the same time. But, with the right direction, you can achieve what you want out of your campaign.
Review this guide and use it on your next product launch so you can attain the results you desire.
What is your current process on product rollout? We’d love to hear from you in the comments section below!