A 9-Step Guide To Launching Your Product With A Bang

The launch of a new product or service is the most important aspect of any campaign. You’ve got to start with a bang! There’s a reason why Apple always launch a new product with an enormous conference event. They stream the announcement live, and every media company is there to report. Fashion companies launch new products on a catwalk, and musicians launch their new album with a huge live performance. As a business, you can follow these concepts to create a product launch that works.

Most product sales curves follow a similar pattern. There’s an enormous spike when the product hits the market, followed by a slow downward curve. This downward curve represents the buzz slowly dying out, and product sales settling into a natural pattern. The trick is making sure that first spike is as big as possible. You’ve got to reach as far and wide as you can with your first announcement. There is an art to launching a product. You need a long period of planning before that product hits the market. Ready to learn the tricks and techniques? Let’s take a look, shall we?

Steve Jobs always launched Apple products with a bang (image credit)

1. Make sure the product is perfect

If you’re product is going to catch fire, you need to make sure it’s the best it can be. Remember, this is your chance to impress key media tastemakers and your existing community. You only get one chance to make a first impression. Sure, you can tweak the product down the line, but you’ll lose that initial impact. Don’t be afraid to take an extra few months if the product isn’t ready. Get essential feedback and make alterations. Only launch when you are 100% happy, and you know it will make an impact. If not, it’s back to the drawing board!

2. Define your target audience

If you run a small business, your product launch ought to target a very specific niche. You can’t simply host an Apple-style conference and stream it to every computer in the world! There isn’t the demand. So, take the time to figure out who has the most ferocious appetite for your product. Who are the thought-leaders and taste-makers in that niche. Who’s opinion matters? Who’s going to use this product? Most importantly, who is going to spread the word and shout about it from the rooftops? These are the people you need to tailor your launch to.

3. Research

Research is crucial in all aspects of business, but particularly when it comes to launching a product. Through research, you can discover the perfect product opportunity that is missing within your niche, optimize already existing products, or fill a gap in an industry. Research the competition, and identify your unique selling point over them. Find the gaps in the market, and fill it with this new product launch. Most importantly, research the process of product launch itself. There are hundreds of great case studies to help you draw inspiration and ideas. We recently used Product Launch Formula, a learning tool that takes you through the entire process. Learn as much as you can, and take the time to research every step.

4. Set a budget

Launching a product costs money. A lot of money! Hopefully, you’ll make it all back when your product is featured on all the top blogs. When thousands buy your amazing new product, you’ll see a healthy return on investment. But first, you need to set a budget for the launch. You’ll need money to pay marketing and PR teams (we’ll come to that next). You’ll also need money for an event and advertising. Set aside a realistic sum, and make sure you have plenty left over in reserve. Try to stick to the budget as strictly as possible.

5. Build suspense

Launching a product without any warning will catch everyone off-guard. The surprise launch is only effective if you already have a huge profile and a big following. If you’re not an enormous company, you’ve got to start spreading the word and building anticipation. Put a count-down on your website, and start teasing the new product in your emails and web content. Show people that something big is coming; ask them to sign up to hear about it first. Try to source a few early exclusives on tastemaker blogs and social platforms. Build a buzz and excitement, so you can finally launch it with a huge fanfare.

6. Hire a PR team

It is possible to launch a product on your own. Using your personal contacts and marketing techniques, you can build some excitement. However, for a real impact, you’ll need the services of an expert PR team. These professionals have contacts with all the major media outlets and niche services. They’re crucial when it comes to securing coverage, reviews, and tastemaker influence. They’ll get your product in the hands of those that matter.

Host a launch event for maximum impact (image credit)

7. Host an event

Nothing builds buzz like a high-profile launch event. People love a good night out, and a few free drinks will get people in the right spirit! Hire a trendy bar in town, or turn your new fashion boutique into a party venue. A launch event is especially important for getting journalists and bloggers on board. It’s a chance to show them your product and talk to them first-hand. You’ll get lots of social media response as people enjoy the party. Best of all, you’ll get plenty of reviews in the right places afterwards.

8. Start taking pre-orders

The period building up to your release is the most important time. If all goes to plan, you’ll get features in the best magazines and blogs. Taste-makers will be talking about you, and potential customers will flock to your site. This is the time to secure them with pre-orders. Take advantage of this early interest, and start building sales instantly.

9. Set the campaign in waves

Finally, make sure the campaign has a number of waves. Once the product is launched and out there, don’t stop working. Set another wave for a week or two later. This is your chance to send follow ups to journalists and taste-makers. Perhaps you could put on a flash sale or offer a product add-on. Get creative here, but make sure the waves keep coming!

Follow this advice, and you’ll launch with a bang! Those pre-orders will start rushing in, and you’re numbers will grow. Congratulations!