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Do you have the perfect product in mind but don’t know precisely how to implement it?
The good news is that you’re not alone! Developing a new product can be difficult, with many hurdles and complications. After the grueling task of growing a new product, the last thing you want to do is neglect your product launch.
Neglecting your product launch will have devastating consequences on the success of your business and may cause it to fail. Fortunately, studying successful new product launch examples is the best way to learn about this topic!
In the 21st century, countless successful product releases employ clever strategies that led to their victory. Only the best product launches can pave the way to success in the current competitive market.
So, how do you ensure you successfully launch your business and meet or even exceed your sales goals?
Learning from other companies is a free lesson in understanding what works in the market and how to adapt it to your product. With so many successful product launch examples, business owners are sure to find a product launch that exemplifies their target market.
What is a Product Launch?
If you think the launch of a business or service happens in just one day, you may need to adjust your thinking!
A product launch is a process. Although it includes the day a good or service is released, it’s essential to remember that a successful product launch incorporates the product launch strategy, the product launch campaign, and the new product launch.
While it may sound overwhelming, you don’t have to start unprepared.
A product launch plan keeps you on track for the big day!
One of the most important parts of prepping for your new product launch is keeping your messaging beforehand consistent and engaging. If you want to see how to keep your messaging on-brand, look no further than any number of strong Instagram product launch examples.
As you prepare, you’ll want to check your progress thoroughly. The easiest way to set your attainable goalposts for a successful product launch is to separate them into three stages.
So, what are the three stages of a product launch?
What are the 3 Product Launch Stages?
Because product launches are a process, there are three standard phases to them:
- The pre-launch stage
- The launch stage
- The post-launch stage.
Each of the three stages helps keep your KPIs (key performance indicators) in mind to impact your bottom line best.
The following are the 3 product launch stages and how best to utilize them to your advantage.
The first stage of a product launch is the pre-launch stage. The most critical stage during your launch process is researching and planning. This is where businesses formulate their strategy. Market research lays the foundation for a strategy. Furthermore, strategies differ between aggressive entrances focused on a short period or a slower approach, valuing a drawn-out launch.
Utilizing research to formulate your plan requires thorough, detailed work, no matter the speed of the approach. Knowing your target market by determining demographic and other key metrics is vital, as these will greatly impact your ability to reach your market.
You must complete your product launch strategy before moving to the other stages. You can also set KPIs to measure the success of your new product.
A marketing team will be able to accurately predict your buyer personas and know the best social media platforms to target them.
Before moving on to the next step, looking at any potential pain points in the marketing strategy, such as budget, redundancy, or unclear steps, is generally a good idea.
Create a checklist for the product launch to keep your research organized!
Now that you’ve done all the prep work, you’re ready to move on to the launch phase! This phase is the most vital in your process and holds all the actions that make up your product launch strategy.
The launch phase consists of events, ads, or any other method you use to gather attention. All planning for this stage is completed during your pre-launch phase. The launch date is also a factor that requires research, as it depends on your product.
All your hard work during the planning phases makes way for the best possible launch date and beyond! Building your brand awareness should be a smooth process if you’ve done your research and effectively targeted your audience.
As you implement your launch strategies, ensure that you build anticipation for your new launch by increasing your brand awareness. Creating brand awareness is the main goal of your launch stage. Brand awareness can be the difference between a product that sells and one that keeps your budget in the red.
Sometimes, it may be enough to directly advertise your product to your pre-determined target audience. In those cases, brand awareness will build itself. In some cases, however, you’ll need to do more legwork. Keep your messaging consistent, and your new product launch will go smoothly.
The post-launch stage of a product launch is a critical period for any business. It’s when you need to focus on building momentum and driving sales to ensure the success of your product.
One of the most important things to do during the post-launch stage is to gather customer feedback. This will help you understand how your product is being received and identify any areas for improvement. Make it easy for customers to leave reviews and feedback on your website, social media, or other channels.
Another key strategy during the post-launch stage is to continue promoting your product. This includes paid advertising and organic promotion through content marketing, social media, and other channels. Keep your audience engaged with updates, special offers, and promotions to keep them returning for more.
Tracking your sales and metrics during the post-launch stage is also essential. Analyze your sales data to identify trends and adjust your strategy accordingly. Use this information to refine your marketing approach and improve your product.
Finally, remember to celebrate your success! Launching a product can be a challenging and stressful experience, so take some time to recognize your hard work and achievements. Celebrate milestones, share success stories with your team and customers, and use this positive energy to propel your business forward.
5 Inspiring Successful Product Launch Examples
When deciding the best way to launch a brand-new product, the best way to learn about it is to examine case studies of successful product launch examples.
The following are five examples of inspiring product launches.
Apple knows how to build anticipation in its customers through its marketing campaigns. The launch of the ‘AirPods Pro’ made excellent use of a launch email that enticed customers to the new product and its features.
The email kept clean visuals and was a value proposition of all the new features offered by the AirPods Pro. Apple always keeps a tight lip on prelaunch teasers. This causes consumers to generate buzz whenever Apple teases its next product.
The first teaser of the product was in posters showing models wearing the AirPods Pro without any text. Apple can create excitement about an upcoming product despite its unknown features through teasers that provide little information.
Apple favors visuals that tell the features and value of their products, alongside minimal text usage. The result is their iconic infographic style that is easy to understand.
One primary advantage of Apple’s advertisement style is its low cost compared to the competition. Many companies similar to Apple opt for an aggressive marketing campaign with a high budget.
The key takeaway from this product launch is that fewer words are sometimes best. Consumers prefer visuals over a block of text. Additionally, Apple needs to delve deeper into the technical specifications of its products. They prefer to mention how the feature will affect your lifestyle and leave it at that.
When Apple unveils a new product, it’s about more than just showcasing the features and specs. It’s about highlighting the incredible experience that comes with it. And let’s face it; not everyone is a tech wizard. That’s why sometimes, sparing your audience the nitty-gritty details is the smarter move. So, focus on the benefits and the overall experience, and let the product speak for itself.
Meepo Voyager X
The Meepo Voyager X launched recently and skyrocketed into success. The long-range off-roading skateboard was the first of its kind released by Meepo.
Because of its thorough market research, Meepo determined that its audience wanted to know specifics as part of a niche market. Therefore, unlike Apple, Meepo uses many technical terms on its product page. Since Meepo is in the niche market of specialty skateboards, most customers require technical information over an infographic design.
This company established itself through previous products and has a dedicated following for its quality goods. Meepo relies heavily on the quality of its products as its main selling point. This can be seen on their landing page; they prioritize displaying their products over using fancy images or photography.
Meepo used a YouTube review to showcase their new product and demonstrate how it works. They also gave away free Cyclone wheels for the first 900 Voyager X orders. Reviewers liked the product and gave it good ratings, proving it is high quality.
Many YouTubers who reviewed the Voyager X also offered a discount code to promote sales. The product received positive reviews, which encouraged potential customers to buy it. The lesson from Meepo is to showcase your product’s features and let it speak for itself. Meepo allowed YouTubers to review their Voyager X and target their audience of skating content viewers.
Hard Mountain Dew
Some companies use flashy ads to promote their products, like Mountain Dew did with their Hard Mountain Dew. They made a 15-second YouTube video announcing the new product’s release and its different flavors. The video also added humor to keep viewers engaged while only providing important information.
Mountain Dew’s established brand name helped make the launch of Hard Mountain Dew successful. The new product matched the look of the original Mountain Dew and was available in over ten states on its release.
Keeping your brand exciting after launching a new product is important for continued success.
Amazon isn’t just a website that sells books anymore; it’s become a one-stop shop for all your needs. But how did this e-commerce giant manage to grow beyond its humble beginnings? Well, they used a variety of marketing strategies to launch each new feature of their landing page. They blended traditional marketing tactics, like print ads, with digital marketing strategies to capture the attention of their target audience.
Amazon also uses sales promotions, product placements, and pay-per-click campaigns to promote its products, spreading the word about its offerings. They even use affiliate links to build partnerships and drive constant traffic to their site.
But what sets Amazon apart is its pre- and post-launch stages. They use data-driven reports to target their audience and gauge post-launch performance, constantly collecting customer data to keep their brand fresh and relevant. They even release an annual Consumer Behavior Report to illustrate and explain customer preferences.
So, to launch a successful product, take a page from Amazon’s book. Keep your brand fresh with customer data and affiliate links to stay relevant long after launch. With the right strategies in place, you, too, can leverage your brand into new growth phases!
Airbnb’s success story began with a brilliant marketing strategy that utilized direct email campaigns and referral programs. Faced with skyrocketing hotel costs, the company contacted homeowners on Craigslist and offered their unique rental services. Their email campaign was a simple but effective way to grab the attention of potential clients.
Using data input from replies to their emails, Airbnb developed an algorithm to automate finding and sending invites to homeowners looking for renters on Craigslist. This approach proved to be highly successful during the pre-launch stage and helped Airbnb build a solid customer base.
Post-launch, Airbnb engaged their customers with a referral program that rewarded them with credits ranging from $25 to $75 whenever they referred a new customer. This helped reduce fraud in their website listings and created a sense of community among users.
Airbnb’s success story teaches valuable lessons about customer engagement and finding customers on other platforms. By using referral programs and creative marketing strategies, businesses can keep their customers engaged and grow their customer base.
How Do You Develop a Product Launch Strategy?
Developing a product launch strategy consists of four main phases:
- Product development
- Customer research
- Market research
Each of these four steps helps you create your guide for a successful new product launch, and often, using a product launch template can help keep the process smooth.
Product development entails your great idea for goods and services and means you have a thorough plan to make it happen.
Customer research includes getting out there and talking to the people your business engages with. Don’t be afraid to ask potential customers questions and for feedback about your idea too!
Market research includes surveying the culture around your proposed product. This step involves assessing your competitors and seeing how your pricing strategies compare to theirs. Making a direct comparison to similar products on the market offers you valuable insight!
Finally, the testing stage of your product launch means you get to try out your product and ask for feedback. Sometimes this stage can illuminate areas of your product or launch that need work, and that’s okay. Keeping an open mind can often be the difference between a successful venture and a failed one.
Still Need Help with Your Product Launch?
Are you ready to launch your business, but need help figuring out where to start? Look no further than Launch Club! With expert guidance and a supportive community of entrepreneurs like you, Launch Club provides everything you need to plan and execute a successful product launch.
Say goodbye to the stress and uncertainty of launching a product independently.
Launch Club offers comprehensive resources and tools to simplify your launch process. Whether it’s your first launch or your fifth, Launch Club’s expert guidance and community support will help you achieve your goals.
Take advantage of this opportunity to take your business to the next level. Sign up for Launch Club today and get access to all the resources you need to launch your next big idea!