Are you working on a new handmade project and wondering how you can make your people want your products on its first launch?
Not to scare you off but only 35% of product launches are successful after launch. There will be a lot of challenges you need to undertake for a successful launch but understanding these challenges help increase your chances for success.
Here are 7 tips to help you increase your chances in launching your new product successfully:
1. Set Your Goals
Setting goals is essential in order for you to control the success of your launch. This will serve as your guide and help you stay on track during the whole process; checking in regularly on how each action supports a goal ensures you are using your time and resources wisely.
Example product launch goals include:
1. Well thought product name, brand, and position
2. Ensuring the quality of the product
3. Identifying the right channels
4. Extend awareness and strengthen the product
5. Execute a benefits-oriented launch that addresses the learn, try, and buy purchase phases
6. Cross-sell new product to existing customer base
The best method to set goals is by using “S.M.A.R.T.” (Specific, Measurable, Attainable, Realistic and Timely). Using the S.M.A.R.T. guidelines can help you realize whether or not you accomplished your goal, rather than just make guesses.
2. Run A Test
Perform a test drive of your product/s before your launch to help you verify that your product and audience are ready for your launch. Always remember that perfect is the enemy of good. A beta test of a minimum viable product.
That is why some restaurant perform a “soft opening” before the grand launch to gain insight on what customers really want.
3. Prepare For The Surge
A new product launch can bring a sudden increase in sales. So be prepared to have enough products available, you have your payment methods ready, and ensure that your team is prepared for the increase in volume and complexity of work. Make sure you fill all necessary positions and educate team members on the vocabulary, processes and features of the new product.
4. Choose The Right Channels
During the planning phase you should have outlined the channels you want to use to share your product’s information. This is not a “the more the merrier” sort of thing – a mistake new product marketers often make.
Be sure to avoid channels where the audience may not be the right fit. Pick one main social media channel, an event, or blog post. Don’t forget to use email, social, paid, and other channels to support that main post.
5. Collect Feedback
Collect and analyze customer feedback, then determine what changes you need to make to enhance your product.
6. Measure Results
Go back to your goals and measure the outcomes of your initiatives according to those goals. You can use Google Analytics for this. You’ll want to track daily, weekly and monthly analytics data involving page views, visitors, social shares, etc. This is great to determine what’s contributing to sales and other goal completions.
7. Don’t Quit
You’ll reach a lot of people with your launch, however, not all of them are immediately convinced to make a purchase. Make sure to continue to move folks who’ve raised their hands as “interested but not ready to buy” down your funnel.
This means nurturing emails, free trials, demos, and more in-depth, product-focused description and exposures. Build extra creative, like a longer video or social media posts that you can save for after the launch. This will give you fresh assets to share.
One handmade seller introduced by my good friend Renae Christine has been doing a great job of launching its newest products. Check this one out:
I would love to hear other innovative ideas for creating attention around product launches. Please let us know in the comments.