The success of a product launch does not necessarily lie in the quality of the product (although that is important of course), but in the planning to make it a successful launch.
Follow these steps to help you successfully launch your next product:
- Clearly identify what your next product or service is. What title will you give it? What are the key words in that title? What additional benefits does it have? What bonuses or additional incentives can you offer?
- Promotion Strategy. Outline your promotional plan. What is the web-site and sales page? How do you want this to look? Do you have compelling sales copy? What is the process you want to take the buyer through? How will you deliver the product and any additional bonuses? Where else can you advertise? Can you do talks or presentations? Video and social media? Joint venture partners? How will you manage all of this?
- Action Steps. Map these out for the whole process from first attracting your customers through to the after sales process. For joint ventures and advertising, talks etc. these need to be planned in before you do most of the set up to make sure you have people onboard.
- Extra Mile. How can you go the extra mile for your customer. Give them a surprise bonus or gift? Or can you do an up sell with something that gives even greater value to using the product they’ve just brought?
- Budget. What budget do you have for this promotion? How can you maximize this budget to get most out of it? It is better to split the budget across ten different promotional avenues than to lump it all into one basket. Remember to test small first of all too.
- Lead Time. What is the lead time to your promotion? Do you need to get things printed? Packaging? Facilities booked? Joint venture partners on board (these are often busy people and have set timeframes for promotions)? Sales pages and copy?
- Follow On. What are you doing following the promotion? If the first product is a small cost, what action do you need to take to get people to your big price offer? This all needs to be part of the bigger picture.
These are just a few helpful tips to help you through the thinking process of making your product launch a success.