New Product Launch Strategy – A Step By Step Guide

New Product Launch Strategy – A Step By Step Guide

Deep down, we all want to launch our brands and earn a six-figure income. Most of us have great ideas for doing it. But when the moment of truth arrives – everything vanishes for not knowing the new product launch strategy.

Not so long ago, entrepreneurship was an activity reserved for a few brave people who struggled daily to survive in a complicated work environment. But nowadays, there are countless cases of success in which, with a simple internet connection, many have achieved a six-figure income in record time.

How Does This Happen?

That happens because the internet brought one of the most potent weapons that any entrepreneur can have in his hand if he knows how to use it properly: mass reach. With this weapon, launching a new product is relatively simple as long as we are very clear about the different strategies that we must follow. Experts say: “A good launch plan for a new product is 80% strategy and only 20% implementation.”

The good news is that you won’t need an extensive marketing plan for a new product launch. At the end of the day, you are selling to people like you. There is no more effective way to sell than to use common sense and the mental and emotional processes that a user follows in a sales process. Below, we have explained a new product launch strategy in the market with all phases and examples

Strep-By-Step New Product Launch In Market:

It is interesting to know the theory of the product launch formula, but what you really want is a step-by-step guide to implement the strategy yourself in your product marketing plan.

Step 1. Define the Product and Target Audience

Before starting with the launch strategy, you have to be very clear about various aspects related to the product and your target audience. These aspects will determine a good part of the rest of the steps. So, define as clearly and precisely as possible what is the promise of your product. 

People no longer buy the product. They buy the transformation associated with the product. The function of the promise is to convey that transformation as accurately as possible. For example, you should never sell an exercise table, but the possibility of getting a toned body.

Analyze to the smallest detail your target audience. As I always say, you should know your potential clients almost like your best friends. That’s the only way to clearly understand where you can find them, what makes them feel good, what problems they have, and what language they speak. If you do not delve into these details, you can fall into the trap of developing a meaningless strategy for those who have to buy from you. Therefore, your results will not be as expected.

Step 2. Create A Product Launch Ad Campaign

Everything in the following steps will be aimed at the audience you have just defined. Simply put, you will have an advertising campaign to attract as many leads as possible to your launch. This is the invitation to your new product launch in the market.

But, as you will understand, not any type of “guests” are worth it. They have to be qualified leads who fit into the profile that you just defined in step 1. Several elements are part of this second step:

A. Landing Page, Squeeze Page, Or Simply Registration Page

It is a specific website page in which your target audience can sign up for the launch by leaving their data in a form. It is essential to convey the promise very clearly. Also, try different versions of it to test which version achieves the highest percentage of registrations. 

B. Confirmation Page

Since a product launch is intensive in sending emails (email marketing), it is highly recommended to always work with double opt-in. It is a system in which the user must confirm their email by clicking on a link in a mail sent for this purpose only immediately after registration.

For that reason, you will need to have a confirmation page to indicate the precise instructions to confirm registration at the launch. As soon as the user completes the registration form, they will be automatically taken to this page.

C. Thank You Page

Once the user confirms his email address by clicking on the corresponding link, he is taken to a thank you page in which he is confirmed that his registration at launch is complete. Next, there are instructions for the next steps or announce the launch date.

D. Online Traffic campaign

You have to mount an advertising campaign to get leads using the payment channels that offer the best results, which today are Social Media Ads. This type of advertising allows precise segmentation of the audience you want to reach. It is the point where applying all the knowledge about your audience (from step 1) will make real differences.

Final Words

If a product launch plan follows the sequence without skipping any step, it is highly likely that the result will be successful. Thus, you will be able to build the most compelling new product launch strategy for your brand.

READ  Career options after Master of Business Administration

Comment here