Six tips for a successful product launch
A successful product launch can make a huge difference to sales, reputation, and profit.
It is often said that 80% of product launches fail, but in reality, this is closer to 40%, and the definition of “fail” can vary considerably. Some of the best tips for ensuring a successful product launch are outlined below.
1. Outreach – go big or go home!
Obscurity kills businesses and products. Attention is crucial to success. When launching a new product, you want to make as much noise as possible. This can take the form of tweets, Youtube/TikTok videos, emails, Instagram posts, LinkedIn ads, or even phone calls and texts. The more people you can reach, the better.
2. Be strategic
There are several key elements to this, but it essentially means working in a way that helps you reach your goals, using critical thinking, and developing a broad set of tactics to achieve your wider targets.
3. Use common sense
Make sure to know your audience, get to know your stakeholders, know your product’s value, adopt a multimedia approach to branding, and engage with reporters and local celebrities on social media.
One of the best ways to get help with a product launch is to use an event management company. If you are based in or near the Irish capital and are looking for local event management companies Dublin has several such firms. Why not take a look at the website of one of the best event management companies Dublin has to offer?
4. Build an army of superfans
Prior to the product launch, build a large group of superfans who will vouch for it and provide positive noise. Lay the foundations well in advance. Try to find your target audience and invite them to testing events, offer incentives, and build the buzz.
5. Use brand ambassadors
Identify ambassadors whose interests are similar to yours and get them on board. Well-established names will bring large fan bases with them. They can also create great content for you to use.
6. Use webinars
Webinars are a great example of technology that is perfect for spreading the word about a new product. During the webinar, make sure that everyone knows when the launch will take place. Allow time for a Q&A at the end; answering questions will help build trust.