Product launches involve a ton of steps that need to be choreographed just right, and your product launch plan is the basis for it all. So, how can you set this plan and what points do you need to include?
Launching a brand new product and have it be well received isn’t exactly easy. You need to bring your product from the Product team to your Sales teams – and have it all go through your Marketing department where everything is crunched and packaged. You need to make sure that everyone in your organization is aligned and understand the product and message, and then you need said product and message to reach the target audience outside your doors. In other words, there are quite some puzzle pieces that need to fall into the exact right position, and this is where your product launch plan comes in.
What’s a product launch plan?
Your product launch plan will let you set all the steps of your product launch in the right sequence, and a time frame for each one. It should include everything that needs to get done for your product to be shared and noticed in the proper places. Here, it can also be a good idea to set the scope for your launch, and think about whether you’re launching your product:
- Softly, i.e. that you’ll tiptoe your way into the market without any bells, whistles or loudspeakers. Maybe you’ll even go with a strict ABM approach and get your products to select, high-value accounts – or you’ll do a kind of beta launch to select clients as you work out the kinks.
- Carefully, i.e. when you’re launching a product with a smaller footprint and don’t want a ton of market spend.
- Loudly, i.e. when the above mentioned bells and whistles are used to their full extent and your goal is for everyone to know about it and want to buy in.
How do you set your product launch plan?
When it’s time to actually set your product launch plan, it will be important that a few key things are included. Such as:
1. The details of your product
What exact product are you launching and what features does it have? Here, you can write a short description of the product as well as the problems it solves for your customers.
2. Audience & message
Who are you actually addressing? Pinpoint your target audience and the personas you’ve found. You can also specify your message for your product in this step, and make sure it’s tweaked to fit the target audience and key personas.
3. Timeframe
When is the product ready, and when should the launch be complete? Specify the time frame for your product launch and all the activities that need to be done before then.
4. Marketing material
With your scope and target audience in place, how can you best go about getting your product out internally and externally? Here, you should specify the material that needs to be created, as well as the platforms and channels you’ll use to get it out.
5. Budget
If you haven’t already set and divided your launch budget, now is the time to do so. Which can prove rather easy if done in this step of your journey, as you now have the details that will help you set an informed budget and division of funds.
Want to know how to actually put your plan into action? Check out our article on launching your product in SP_CE, or contact us to talk more about your product-launch needs.
