According to research,1,897 new products had already been launched in India by September 2020. Although most of these were in the health and hygiene categories, they still involved the fundamental elements of product launches. Launching a product is hard work coupled with lots of challenges. However, it’s rewarding when done the right way. Are you wondering what the secret is to a successful launch and what you can do to make yours a great one? Here are a few things to do before a product launch.
3 Things to Do Before A Product Launch
1. Work towards convenient timing
Timing is a critical factor for every product launch. Even with the best product idea, satisfying quality assurance results, and confidence in the product, wrong timing can damage your hard work. There are specific seasons when launching a product can be highly unproductive, such as Christmas and New Year’s Eve, as many people aren’t available during that period. During these times, people tend to be more focused on the festivities than on a product launch.
The only exception is if the new product has a direct influence on these seasons. For example, are you launching decorative Christmas lights? If that’s the case, the timing will work just fine for you. Furthermore, it would help if you considered the prevailing micro and macro-economic factors of the period. For example, when the pandemic struck globally, businesses collapsed. This effect led to tough economic times, making it inadvisable to launch a new product during that time.
2. Advertise the brand and logo before full activation
Slogans such as “Watch This Space” and “Coming Soon” become very common, especially leading up to the product launch to generate publicity. Tools and strategies such as giant billboards, town floats, and teaser videos effectively advertise the brand before the launch date. Branded apparel is another common way businesses build anticipation toward their launch event. They’re often printed with a single logo to announce an impending and unknown new product. Assuming you have a new product to be launched soon, you can opt for a more contemporary look, such as your logo on sunglasses, to get people talking and create enough buzz before the actual launch happens.
3. Seek reviews
Getting reviews for a new product is one of the best ways to create a buzz around your product launch. You may be wondering how you can do this when you haven’t yet revealed the product, but you could test the product in advance by getting a few trusted people to try it out. Although this is sometimes done quietly, a select group is tasked to try the product first in other instances.
As an entrepreneur, you should be objective and receptive to all kinds of reviews. Naturally, positive feedback about the new product is uplifting. However, it would help if you were more interested in the negative responses as they draw your attention to possible improvements you need to make before your products reach a broader scale. Accepting criticism helps you to identify gaps you can improve to make your product better and more viable.
You can’t go wrong in today’s consumer environment if you incorporate feedback into your product development. Your launch announces your business to the world, and how you go about it can make or break the brand.