Successful product launches are key to a long-term growth strategy. When it comes time to launch your new product, be sure to keep the following in mind.
New Product Launch Guidelines
Goals are the key to a successful product launch. Don’t just launch a product aimlessly. Use goals to frame the purpose of your product launch and evaluate and choose launch techniques. What are you hoping to accomplish with the launch? Is the goal to get 30,000 downloads of your app within the first 30 days? Is the goal to get your product on the shelves of 10 different stores? Guide your product launch around your ultimate goals, and make sure you have the necessary tools and resources to track your progress. These goals don’t have to be elaborate — the simpler the better. Simple goals tend to keep efforts more focused and produce better results.
In the pre-launch period you need to generate excitement around your product and create demand. This means getting customer support involved, developing a sales team, and channeling partners.
Keep your position and message clear
Positioning refers to the way in which you place your products in the mind of buyers. If your positioning is unclear, your buyer will be confused. Remember, a confused buyer does not buy. Effective positioning is essentially a communication process. It means clearly communicating the benefits and capabilities of your product to your target market. Messaging is the language used to convey your position. A clear message will typically consist of several, concise phrases that clearly reinforce the value and benefits of your product.
Time the launch to maximize sales
Timing is everything. Launching before your product is ready is a recipe for a disaster. But if you wait too long to launch, your customers could lose interest. Do market research to identify the specific times and locations that afford maximum leverage for a launch.
Pivot International is a product design, development, and manufacturing firm with extensive experience in the medtech industry. If you are interested in engineering a new product or updating an existing product, contact us at 1-877-206-5001 or request your free consultation today.