Launching a product and maintaining attention on it is no easy task. Most strategies fail, and products often struggle to find their buyers. Alternatively, the initial hype fades quickly because the brand fails to meet audience expectations. Let’s take a closer look at how to prepare for sales and avoid the trap of being overlooked.
What is a Launch?
A product launch refers to a series of activities aimed at attracting attention to a new product. This includes planning the launch, studying competitors, and executing marketing campaigns. Launches are primarily used by young companies and startups to create initial impressions about a product.
To understand the importance of a launch, let's look at the risks. Launching a product without proper preparation can lead to:
▪️ Introducing a product to the market that isn’t needed.
▪️ Missing opportunities for growth and profit.
▪️ Falling behind competitors.
▪️ Experiencing slow or nonexistent demand growth.
A product launch plays a critical role in determining a company's success, so it’s essential to approach it with care.
Main Types of Launches
Marketers use different strategies, but the three most common types are: Pre-launch, Re-launch, and Soft-launch. Let’s take a closer look at each:
1. Pre-launch
This strategy involves creating «buzz» around the product before it officially hits the market. Key marketing tools such as teasers, announcements, social media activity, media coverage, and ad campaigns are used to generate interest.
2. Re-launch
A re-launch is used for products that have already been on the market but failed to meet expectations or lost popularity over time. This type of launch involves significant changes, such as redesigning the product, improving its features, implementing new technologies, or even changing the target audience. A classic example of a re-launch is cosmetics brands reintroducing their products in new packaging with updated ingredients or formulas.
3. Soft-launch
A soft launch refers to testing a new product with a limited number of users before a full-scale launch. Feedback helps companies identify weak points in the product and address them. Soft launches are commonly used in the IT industry for testing new software products or updates.
How to Measure Launch Success?
Evaluating the success of a launch goes beyond just sales numbers. It also involves understanding how the target audience perceives the product and whether it meets their needs. If the product is actively discussed and frequently mentioned on social media or in the media after launch, that’s a positive sign.
Feedback plays a crucial role, and it’s essential to listen to it. To collect feedback, companies often use surveys or feedback forms. By gathering feedback, businesses learn what consumers like and what might be lacking, allowing them to refine the product.
In the weeks following the launch, it’s important to assess how many new users were attracted. This metric indicates market interest and the effectiveness of marketing efforts. If the number of new users exceeds expectations, it suggests that the product has strong potential for future development. Additionally, it’s important to analyze which user groups are most engaged.
Key Takeaways
A successful product launch requires careful planning and market research to understand user needs. However, the launch itself is just the beginning. Even if it’s successful, continued engagement is essential. Regularly monitor feedback, maintain a high level of service, release updates, and actively build a community around your brand. This approach will enable the business to grow, adapt to changes, and remain competitive.