Rolling out a new product? Follow these 10 steps to ensure a successful launch

1) Understand your market

Hopefully you did plenty of research before designing your product, but now that it’s finished, it’s time to go back and take a deeper look at your potential audiences. Focus groups, experiments, surveys, and expert interviews can all act as a resourceful marketing tool to help you better understand your customers

2) Test it, and test it again

Owners make this mistake far too often. They get excited about a new product, and jump to mass production before thoroughly testing their invention. Having to recall your product will be detrimental to the success of your company.

3) Create the story, aligning with your brand identity

What’s the purpose behind the product? Why was your company the one to invent it? How does it fit in to your overall brand? If you can’t answer these questions, PR professionals and potential customers will be weary of promoting your product. Sloppiness, or a lack of brand identity surrounding your product will result in uninspired customers.

4) Offer early incentives, acting as a ‘soft launch’

Why launch your product to the masses when you can do a soft launch filled with people of your own network who can offer objective feedback? You can then use that feedback to perfect your product before mass production

5) Bootstrapping > Pouring thousands of dollars into large marketing campaigns

I get it. You have a great product, and you want to create the most amazing marketing campaign to go along with it. But it’s 2018, the internet is a tool in itself, and there are plenty of free marketing tools to help you successfully market your product. You can use Canva to create free, professional looking marketing tools. Google Analytics provides a wealth of information regarding your website & social traffic, and Facebook pixel advertising has been proven to reap huge results, with owners pouring 0 dollars into the social platform.

6) Know your competition as well as you know yourself

What is your direct competitors plans for the near future? Do they have anything similar to your product? Is there a chance they can copy your idea and make it into their own? Is there a way that you could potentially work together, or join forces on this one project? People often look at competition as the enemy, but why? Competition, especially in the business world, can be a great resource for your business. Notice what they're doing well. Track their customer feedback, and take a mental note of what people wish they improved on. 

7) Pricing is key

Turning a profit is important, and if you have investors, that's going to be the figure that everyone is most concerned with. However, a cultural shift is happening within our capitalist society. That shift is a consumer base that is becoming more aware of where their dollars are going. If you're price gauging, your customers will notice, and any trust that they once had will be diminished. 

8) Make it about more than just the product

You need to show to your customers that the main reason you created your product isn't to make money, but rather to make their lives easier by providing a solution to a problem that they continually endure. Showcase how with your product, life is either more enjoyable, less stressful, or simply easier to navigate through.

9) Get partners involved

If you don't have partners, then get your network involved. One of the best ways to promote a product, is to have someone else do it for you. If a trusted company promotes your product it will add value to it because consumers will associate a positive feeling with it before it even reaches their hands. You can only tell your story so many times, it's important to seek other avenues to get your message across to potential consumers. 

10) Be patient

If your product doesn't go viral right away, don't worry. Success doesn't come overnight, and in many cases, it may take a few months to see the traction you envisioned from day one.