7 steps to launch your product into the market

4th August 2022

Launching a product into the market can be a risky step, especially for a new product or service. Product launches are often your first chance to impress the market. Doing it right takes planning.

Launching a product into the market can be a risky step, especially for a new product or service. Product launches are often your first chance to impress the market. Doing it right takes planning.

It is important to note, however, that a product launch can fail for many reasons:
  • No target
  • Rushing into the market
  • Lack of product unique selling proposition, aka USP
  • And a whole host of other reasons

Planning your launch and being clear on your offering will help to put you in a good position.

How does an MVP work?

How can you create a sticking engineering tool?

1

Identify your unique selling proposition

Consider why someone would want to use the tool and what their motivations may be. The original process may have helped you for one reason, but there may be another angle that could support your audiences.

2

Define launch goals

Know what you want to achieve from your launch. Are you focused on sales only? Or do you want to build long term customer loyalty by building a lasting customer relationship? Do you want to measure market reception for your product? You can have as many product launch goals as you see fit, and its likely they’ll continue to shift and change. The important thing here is to have clear goals before you launch

3

Filter your audience

Know what you want to achieve from your launch. Are you focused on sales only? Or do you want to build long term customer loyalty by building a lasting customer relationship? Do you want to measure market reception for your product? You can have as many product launch goals as you see fit, and its likely they’ll continue to shift and change. The important thing here is to have clear goals before you launch

4

Discover your competition

You don’t want to launch the same way your competition did. Know the strengths and weaknesses of your competition and find a unique, standout way to launch

5

One strategy at a time

Strategies are an essential part of your launch plan. Create a marketing plan. You can have multiple plans but do not implement them at the same time. Pick one for launch and then have the others ready to go to keep momentum going once the launch has taken place, consider re-marketing or re-introduction strategies

6

Monitor launch performance

Monitor your launch performance. The insights you gather from it will help you to work out how best to re-market or re-introduce your product. Your initial plans may not align with live user feedback and data. Leverage the outcome of your first launch to discover how you can also improve your product

7

Re-introduce

This is where all your ideas come into play - it’s easy to have lots of ideas bouncing around in the easy stages of your proof of concept. Build a list of potential marketing strategies and tactics. Keep this list on the sidelines, noting ideas down as they come to you, and then weave them into your plans one at a time, building and testing continually. This way you’ll have measures in place to help keep you focused. You can re-launch your product in multiple ways using new strategies and by feeding in the results from the previous launches. We advise you do this if you have different goals or if the previous launch fails, or soft launches with little impact

Marketing strategies

As a bonus, here are some marketing strategies you can use or combine to maximise returns from your efforts:
  • Website creation
  • Search engine optimization
  • Social media marketing
  • Email marketing
  • B2B marketing

At FHK Technology, we help brands like yours bring their ideas to life and give you the support and tools to launch with impact.

If you need a partner, we can help you achieve your launch goals with a range of marketing campaigns. Learn about a range of strategies that have proved effective and efficient over time so you can build your own success story.

Talk to us about your ideas - submit your enquiry today.