A 6 Step New Product Launch StrategyHaving a good or a bad product launch can mean the difference between success and failure. It’s easy to get too product minded and expect success simply off the back of a good idea. The iPhone would have never become the generation defining invention that it is today without Steve Jobs’ expertly choregraphed rollout. Without the correct balance of strategy and flamboyance, even the best products can suffer. So, if you’ve created the next “big thing”, make sure it has a worthy product launch, by following these 6 simple steps:
1. Plan your strategy in detail
Failing to plan is planning to fail. Putting together a step-by-step project plan ahead of time will help keep things on track, as well as bring to light anything you may have missed. Make sure you have every crease ironed out and are prepared for anything that could go wrong to go wrong.
2. Make sure your brand has presence
Using a multi-channel promotion approach is a recipe for success. Getting the right mix of social, paid and traditional media platforms helps to promote brand awareness before, during and after the event, so make sure you’re present and active in all these areas. It’s vital to understand your audience too – what media do they consume? What times of day are they most active online? The more you understand your audience profile, the better you’ll be able to tailor your launch strategy. Volvo Group North America’s video of its Largest object unboxed record, in which a three-year-old boy opened up a supersized toy box to reveal the new Volvo truck, received more than 25 million views within two weeks and reached number three on Ad Age’s 25 July 2017 Viral Video Chart, which tracks brand-driven viral videos.
3. Build suspense
You need to pique the public’s interest by showing them just enough to get them asking questions or give them the opportunity to take part. For instance, when Fiji’s national airline was rebranding to Fiji Airways, its competition to give five New Zealand couples the opportunity to get married in the sky (thus achieving the Highest altitude wedding on an aircraft) and a honeymoon in Fiji received more than 400 entries. Make sure you’re publicising the launch and your new product to build awareness but bear in mind that saturating your channels before the product is launched, may seem anticlimactic. It’s all about getting that balance right and leaving the public wanting more.
4. Make the launch an EventWhen the launch day comes, go big to make sure you get the publicity your product deserves. Why not try and break a world record to get people talking? At Guinness World Records, we help brands and businesses create unique record-breaking product launches that leave a lasting impression, such as when Jaguar’s E-PACE defied gravity to recreate a dramatic James Bond stunt with the Furthest barrel roll in a production vehicle. The barrel roll film was the most successful launch in Jaguar’s history measured by PR reach, achieving over 5.5 million views in the first week and generating over 460 broadcast news segments.
5. Make the product available to relevant influencers
Influencer marketing is now bigger than ever, and a highly effective way of igniting a chain reaction of chatter around your product. Help your product’s popularity to spread via word of mouth: identify influencers in your field and invite them to the launch or let them try out your product beforehand.