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Playbook
A massive 5-step guide to successful new product
launches
Nima Torabi
A large share of new product launches will fail and the minority that
succeeds must have an amazing launch plan. Whether you’re a product
manager leading an established product or an entrepreneur launching a
new business, you will need to develop a product strategy and get your
message market fit right for a successful launch.
Step 1: Considerations Before Launching a
Product
Use problem statements as a guiding star
Every successful product aims to solve a problem and each product will
have a unique problem statement. The problem statement is a clear and
concise description of the problem and fills in the blank between what
should be happening (situation to-be) and what is actually happening
(situation as-is). The problem statement is something that you can refer
to throughout a product’s journey starting with the design and
development all the way to introducing it to the market.
Make sure you spend time with all your team members to outline the best
problem statements that everyone is committed to. This will help your
team focus, stay on track, and ground you and your team in goal setting,
strategies, planning, execution, and assessment of the product launch
plan. A simple formula to a problem statement could be the following:
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Test multiple variations of the landing page and see what sticks with
users (A/B testing) while gathering data and customer feedback along
the way. Don’t wait until the product launch date to validate your
product/market fit. This will help you and your team to go beyond
opinions and identify what strategies and messages resonate with your
customers because, in the end, data always beats opinions.
uxdesign.cc
Using this method as your guideline, you and your team will be able to
later judge whether or not the goals were accomplished. It will also help
you to identify where resources are needed and help you and your team
deliver on the expectations.
Take a step back and talk out your research with all of your team. It will
take time, but landing on your competitive advantage will help drive your
product’s messaging by relying on what makes you different (USP).
Take your list of stakeholders and place them within the matrix.
Your direct superiors will fit in the key player quadrant as they
will be high in power and high in interest. For stakeholders here,
you’ll want to manage communications closely and engage in
frequent updates and conversations along the way. You could create
weekly meetings to share progress updates or ask for advice.
Determine what level of engagement works for you and aim to keep
everyone informed on efforts.
A system administrator may be a stakeholder that you put
within the minimal effort quadrant. They will hold less interest in
your product and less power within the organization. Keep this
stakeholder satisfied by sharing monthly updates on the launch date
and any other details that are required for their work. Minimal effort
should go into the communications strategy with this group.
A developer or someone that’s testing the product will have low
power and high interest and fit within the keep informed
quadrant. For this stakeholder, share a bi-weekly email with product
launch details to keep them informed and engaged.
A busy executive may fit in the keep satisfied quadrant when
they have a lot of power at your company but little interest in
your product. These people will be great for testing new ideas and
checking in once a month to bounce ideas off them. Though they
may influence the decision, they’re not good for communicating
throughout the process because of their lack of interest and time for
your project.
To recruit these team members, speak directly with their managers and
ask whether this person can join the product team, and only then set up a
one on one with the potential team member to talk about the project, and
how the person can contribute. Be ready to share the vision and explain
why this is an exciting opportunity. But be honest about the work
required, you don’t want anyone to join that isn’t ready to help.
As you start to put your team together, the last step is to ask team
members what competencies your team lacks. Talk through the different
goals you’re trying to reach. Do you have the key players that can help
achieve the goals? If not, continue recruiting until you’ve assembled the
best team for your product launch.
Now what makes leading this launch team a challenge is that these
people don’t typically work together, and probably won’t report directly
to you if you are working in a large organization. Instead, they’ll have
other direct reports and other obligations within your company. They may
even hold a more senior role than you.
The best way to lead this team is by setting ground rules early on, living
by example, and asking all team members to adhere to the rules. Cross-
functional teams are made of interdependent, autonomous candidates.
Consider these four rules of engagement.
These rules of engagement will ground you and your team, focusing on
the task at hand. It’s your job to convene the right people, and keep
engagement on the project productive and focused. A great product
launch will only happen if the team is made up of the right high-quality,
motivated people who communicate well and believe in the product.
The SOAR framework allows you and your team to be forward thinking
and identify the potentials of your product. The analysis will inform many
of the moving pieces involved in your product launch and when done
right, can help you launch your product in synergy with the market.
Go through each section of the checklist and talk through it with your
team to brainstorm items, create timelines, set deadlines, and assign
tasks. Make sure everything is clearly defined and that you document the
who, the what, the when, and the how for every task. This will ensure you
don’t skip an important step or forget something along the way.
Have a section for testing the product, QA, and the complete
value chain cross-checking prior to launch.
Cover marketing and sales in detail. Cover subjects such as the
design and distribution of sales promotional plans or the pricing
structure.
Include your communications and customer support. Cover
items including the creation of support documentation for an online
FAQ, or an owner’s manual.
The legal section is an essential part to a product launch. Include
activities like creating customer contracts, terms and conditions,
and other legal or regulatory documentation required. Cover matters
with your legal team to make sure you have everything in place.
Include a product leadership section. Here include tasks such as
ensuring the entire organization is informed of the product launch
date and how that may affect their job responsibilities.
Every product launch checklist will be unique and the items on your list
will vary based on your industry, company, and product.
Product launch checklist by A Maqsood — https://pin.it/7krAyzl
A strong product launch starts with the hard work of preparation. Map
out your product launch plan. Make it easily adjustable for risks involved
so you can modify your plan as work changes and deadlines shift. And
make your plan visual so you can share with stakeholders to get buy-in
and make sure everyone is on the same page.
Product teams should aim to launch fast and get products to customers
as quickly as possible. But being too quick carries its own risks. The goal
is to find the right balance of a fast launch without sacrificing quality. To
set your product launch timeline, follow these two important rules:
Don’t forget to work closely with your team to prioritize the activities that
will have the biggest payoff and ensure you set realistic and reliable
deadlines.
A tool to manage your team: to track all the tasks and activities
that happen behind the scenes, from testing to press release. There
are many moving pieces across different team members. Use project
management tools such as Asana or Trello.
A tool to manage your marketing: something to assist in managing
your marketing efforts, in streamlining, automating and measuring
marketing tasks and workflows. Tools like MailChimp or HubSpot can
help you follow prospective customers’ early activities. These
solutions allow you to schedule and track campaigns and foster
leads, getting them ready for your sales team.
A tool to manage your customers: a CRM manages all of your
company’s interactions with current and prospective customers.
Salesforce is a great CRM tool to track your customer relationships,
from optimizing the customer journey to your product or forecasting
sales.
Step 4: “Growth-Hack” It
The Complete Growth Marketing Playbook
An essential collection of mindsets, tools, and strategies
in nine chapters
medium.com
Tell stories
Stories create powerful and emotional connections. If you want to sell
your product or pitch your vision, you have to leverage the power of
storytelling. A successful story needs to convey the following points:
When you land on your product’s story, practice it over and over with
different variations. Test what resonates with people and ask listeners
what made the story compelling. Continue to iterate and tweak your style
until you have a story that fits.
Use the story to guide your marketing and branding efforts. Evangelize it
throughout your organization, so people are drawn to the importance of
your product’s launch. Make products stand out through a compelling
story that creates an emotional connection with your audience.
Nike has over 83 million followers around the world and is one of the top-
followed brands on Instagram. This social media following raises brand
awareness and leads to increased sales. Nike’s strategy is to add value to
the conversations to amass an online community of athletes, influencers,
and customers.
Here are three tips to use for creating social media campaigns:
Get right to the point, tell a good story. 20% of viewers will drop
your video after ten seconds of watching, so make your introduction
stand out, and address your customer’s needs and desires.
Create catchy titles, have SEO in mind. Use titles that resonate
with people and keywords that are findable through search engines.
Consider the time length of the video. For lower end products,
consider keeping your video between 15 and 60 seconds long. For
higher end products, a five- to 15-minute video campaign is best.
To create your video, there are many free or affordable online tools that
will help you produce a professional looking video. All-in-one video
producing tools such as Promo or Biteable are great resources.
Influencer marketing
If you have crossed the chasm and found your product market fit and
growth via cheaper digital channels is slowing down, then you will need
to use influencers to get your message across to the early and late
majority segments, in a fashion that they do not become skeptical of your
offering.
Influencers are people that have built up a large and engaged following
through social media and their followers admire and respect their
opinions. Influencers may have acquired their loyal followers due to their
lifestyle, job, hobby, or stories they tell, meaning any brand has the
potential to utilize influencer marketing for their product and target
demographic.
medium.com
uxdesign.cc
A large share of new product launches will fail and the minority that
succeeds must have an amazing launch plan. Whether you’re a product
manager leading an established product or an entrepreneur launching a
new business, you will need to develop a product strategy and get your
message market fit right, for a successful launch.