Tips for Launching a New Product
The closest thing to having a baby in the business world is launching a new product. In the most literal terms, when you launch a product, you’re giving birth to something new with the hopes that the world, or at least your target market, will fall in love with your newborn. The biggest difference between giving birth to a product and giving birth to an actual human is that even strangers feel obligated to adore your baby. And how could they not? However, launching a product is nowhere near as assuring an event. People aren’t obligated to love the fruits of your labor and will be honest about their dislike of it.
The question is, what can you do to make a launch successful? Is there an art to breaking a new product to the general public that actually supersedes the importance of the quality of the product itself? The strategy you use to launch your product will be as integral to its success as its quality. Continue reading to get some tips to help launch your new product into the top tier of its market.
Dare to be different.
Unless you’ve invented something altogether new, then you’re releasing a product that’s already on the market. Even if there aren’t many ways to improve upon the original design, the point is to add something different to your model. Your product needs at least one unique feature.
The key is to research your competition and see what specs their products offer and fill a void. You may notice a simple feature that your competition doesn’t offer and revolutionize your entire industry.
Your presentation needs to wow.
If you serve someone a gourmet meal atop a garbage lid, then unless they’re starving, they won’t give a first, let alone a second, look. That’s because we humans eat as much with our eyes as our mouth and stomach. The eateries that people make reservations to weeks ahead of time to ensure they get a table aren’t the ones with the tastiest food—it’s the ones with the best presentation. If you can make someone feel like they’re eating a gourmet meal fit for world-class nobility—they’ll pay handsomely for it. Why? Because it’s not about the food—it’s about the feel.
When you launch your product, you need to put together a campaign to make your target audience feel something when they see it. When Gatorade launched its “Be Like Mike” campaign, they sold the idea of Gatorade being what fuels Michael Jordan. And, even though you may not have a 48 inch vertical like Mike, you can drink Gatorade like Mike.
What are you going to sell your clients? You can’t sell them a drone. There are thousands of drones on the market. The question is, how can this drone revolutionize the flying experience for aviation aficionados? If you don’t know how to market your product, you don’t truly know how to make money with your drone.
One of the first things you need to do is build a captivating website where people can learn more about and purchase your products. You definitely shouldn’t wait until the launch to start building an online presence for your product. If you’re not a web design whiz, Webolutions Website Design can build you a top-notch website that will look professional and appealing.
A short video of your drone accomplishing amazing feats will raise some eyebrows. Still, a company that provides motion graphics service can turn that same footage into a 3D animated video of your drone doing the impossible. People want products that make them feel like they can do the impossible, and you need to start planting that seed about your product during the launch phase.
Go to trade shows.
One of the best ways to generate buzz around a new product is to attend trade shows. They happen all around the United States, so the more of them you attend, the more markets you’re allowing to get a firsthand look at your product. Leading up to trade shows, you need to make as much noise on social media as possible. If you’re a small business owner launching your first product, then your goal should be to get your family and friends buzzing and sharing about your trade show.
When you’re traveling the country with your product, you have to be diligent about protecting and storing it. US Self Storage provides 24 hour storage all over the country. As you travel, you’ll see that you have to spend more time in some cities than others, and safely storing your valuables can become a real issue. Putting them in self-storage is a great way to secure them in a climate-controlled environment safe from natural and criminal elements.
Always Be Closing
To successfully launch a product, you have to acquaint yourself with the ABC’s of sales: Always Be Closing. There should never be a moment when you’re caught off-guard and unable to pitch your product to a potential customer or investor.
Prepare an elevator pitch that you can give to prospective investors on the spot. Also, practice a friendly, congenial sales pitch to give to passersby. The point is that you never stop selling your product, from the time you conceptualize it to the day you launch it and beyond. Remember your ABC’s and make sure that you’re always closing.
Improve it and relaunch it.
One of the keys to longevity as a developer is learning how to improve your product and re-release it repeatedly. A great example of a product repeatedly dropping in different incarnations is the Madden Football series. The game itself is over 30 years old, but it’s so wildly popular that its release is one of the most highly anticipated every year. Indeed, the launch of a new Madden game is an annual event.
If your product is a success, then you may have something with the potential to become a lasting franchise. You could tweak your design, add some new features every year, and relaunch your product to eager cult followers. Your drone could become the “Madden” of drones.