Launching a product can be one of the most profitable and fruitful moves that any entrepreneur can make. It can also be one on the most confusing, overwhelming, and stressful projects that you ever complete. The number and series of tasks that are part of a successful product launch can certainly cause paralysis in any of us. Which is why it is important to do your research and learn how to launch a product successfully.
There are many ways that one can go about launching a product and there really is not one particular formula to apply. Click here for more on product launch formula review. In fact, the way you go about launching your product depends on your industry, your target audience, and the type of product that you have. For your launch to be successful, you need to plan out your launch and not skip or overlook any necessary steps.
Steps To A Product Launch
Product Feasibility Assessment
Do you have a quality product? Are providing a real solution or something of true value? What is the market demand for your product? How about the competition? Is someone else out there offering a similar product? If so, how are they marketing it? Are you a leader in your industry or at least perceived as one? These are vital questions that need to be considered as they can very well influence whether or not your launch will be successful.
Strategy Development and Preparation
This is the stage when you plan out all of the activities and sequence of events that will make up your product launch. You will map out the next three stages of your launch. What needs to happen before, during, and after the pre-launch, the launch, and the follow-up steps? This is a critical step that involves a lot of organizing, research, and skill. It is the stage when you build your team as you will more than likely need to outsource several activities.
At this stage you begin to create a buzz for your product. Do you have a squeeze page set up? Are you actively building your list? Do you know how to build a list? Have you set up all of your social media marketing activities? Do you have articles and press releases ready? Are you blogging consistently and initiating a buzz? Have you researched a list of potential joint venture partners?
Launch (The Main Event)
This is where the actual event takes place. At this stage, everything needs to have been setup. Is your shopping cart set up properly? Are your auto-responders set up? Do you have a compelling sales page? Have you created an event for your launch day? How about an affiliate program, is it ready to go? Have you considered other advertising methods such as pay per click ads?
This is activities that are done after the launch to ensure momentum and also reevaluate and plan on the way forward. Are you tracking your stats properly? Do you have ongoing communication activities in place? Are you listening to your customers and their feedback? Are you continuing with your blogging and social media activities?