Do you know the number one reason product launches fail?
The answer is simple: product launches fail when they lack a clear launch strategy.
Products without a well-defined launch plan fall short at attempts to engage customers before, during, and after launch. As a result, these products fail to attract new customers, generate press, and achieve sales goals. Alternatively, strategic product launches are more likely to bolster brand recognition, exceed consumer expectations, and surpass revenue targets.
If you’re ready for a few key tips on how to benefit from a strategic product release, read on! (And you can download the full product launch eBook here!)
Set a Realistic Launch Date
Realistic is the key word here. It’s not about when your marketing or PR team thinks the product should launch. Rather, it’s about when your engineering or product team can actually produce the desired result, without the need to pull all-nighters or live up to other unfair demands. In addition to giving all of your team members plenty of time to complete the project, remember to factor in the time it will take to test a beta version or prototype.
Everyone in your organization should agree on important product information, like pricing and market positioning. What’s even more important is that each team member can readily access this information via a dedicated tool. With a go-to source for product launch information, your team becomes empowered with the knowledge they need to communicate the product consistently across all consumer-facing channels.
For example, Brandfolder is a great way to upload and share all assets related to your product launch. Did your press contact view the announcement? Did your partners grab the latest logo or sales sheet? Our tracking and analytics tools even allow you to monitor the assets once they’ve been shared.
Product Launch Spotlight: Sphero BB-8
Sphero’s recent product launch success proves the importance of an organized and collaborative team.
Sphero partnered with Disney to launch their new app-enabled droid, the BB-8 toy, alongside the highly-anticipated Star Wars movie, The Force Awakens. Morgan McQuay, Channel Marketing Manager at Sphero, explains how Brandfolder was a crucial element in Sphero’s widely-publicized product launch.
“First and foremost, Brandfolder’s stealth mode capability helped us to maintain the privacy and search-ability of our product until the day of launch. This allowed us to work on the Brandfolder, without fear of leaking assets to the public. It was important to uphold confidentiality right up until that very second of Force Friday, and Brandfolder’s settings really helped us do that.” – Morgan McQuay
After Sphero switched their Brandfolder from “private” to “public” on September 4th, partners, press, and other members of the media could easily access information about BB-8. Brandfolder’s flexible customization features also played an important role in Sphero’s BB-8 launch. This included the ability to include specific information about BB-8, such as market positioning, taglines, FAQ sheets, and multiple product descriptions.
With the ability to present their new product to the public exactly how they wanted, Sphero ensured that both their product and brand were accurately represented in leading media outlets such as Forbes, The New York Times, and TechCrunch.
To access the rest of the product launch guide, download our free eBook!
You’ll learn essential product launch tips, including how to: – Write compelling, customer-focused product copy – Keep customers engaged long after your product hits the shelves – Streamline product messaging throughout a global organization – Achieve widespread press coverage and increase social reach