Your product launch can solidify or improve your position in the eyes of your target market. They will form an opinion about your brand and may even consider recommending you to people in their network. This improves awareness and perception about your small business without incurring additional advertising costs. You need to create a product launch plan that improves your chances of success. The plan also acts as your guideline whenever your team encounters problems before, during and after the launch.

 

Here are some of the things that should be in your product launch plan.

 

Market Study

You and your team should know and understand the pain points of your target customers. The market research you conduct provides you with insights about your audience. This enables you to quantify and qualify their needs and wants. This also allows you to include or exclude features or services that add value to their brand experience. The study will also reveal how much work you need to do to raise awareness about your upcoming launch.

 

Clear Delineation of Roles

Your product launch strategy should include a clear assignment of roles, tasks and projects. This allows your team to focus on their strengths and reduce the mistakes they will make. Create specific teams for each phase of the launch. Assess experience and expertise to determine the roles you give to each employee. This approach improves efficiency and productivity, and also increases success rate.

 

Positioning Statement

Your latest product must have a distinguishing position in the minds of its intended users. Write a positioning statement that states the benefits of your product, who it is for, how it works, and its unique characteristics. You can take a general approach or provide specific details about your positioning statement. This is not just for your target audience, but also for your team. They can use it as a reference point in making marketing collaterals, response to customer queries, and in improvements.

 

Advertising Strategy

Everything has to click when you launch a new product. Develop an advertising strategy that your team can use. Create a focused and specific message you want to convey to your audience. Identify the type of content your target audience is likely to engage and share. Create an editorial calendar to publish videos, articles, and other types of content at the right time.

 

Outline a Media Plan

Avoid making mistakes during your product launch by creating a media plan. Identify the platforms you will use to connect with your audience. This can be newsletters, emails, Facebook posts and messages, online forums, LinkedIn, and other formats. Determine the ideal time to share posts and interact with your target audience. Create a common message across platforms to strengthen your branding and create hype around your product launch.

 

Identify a Launch Date

Determine a product launch date that can create the most sales and generate interest among your target audience. Consider the season, whether it is a holiday or not. Account for the availability of your team during that day because they will have to respond to queries, feedback, complaints and others.

 

Include these in your product launch plan to improve your success rate. Your latest product has a chance to increase the awareness about and profile of your small business. We at Robookkeeper can provide you with affordable small business accounting services. Our outsourced bookkeeping services allow you to focus on your product launch. Let us update your accounting books.