March 15, 2011

5 Steps to a Successful Product Launch!


I was prompted to write this post regarding the subject of two matters, 1) researching the market before a planning on a new product launch, or even better, before even thinking about creating a new product for the market, and 2) product launching and marketing itself.

It doesn’t matter what line of business you’re in or how small or big you are, for example and to make things easier for me to describe, let’s say that you have an idea for a fantastic new software that allows you to build a massive email contacts list within just a few weeks of running, remember this is just an example. Before launching it out to the world ask yourself this, what if there’s already a product out there that can do the job just as well? Even in this example there most likely is already a product out there.

The real deal is this, although there are probably hundreds of products and innovations out there, there is still room for improvement. I recently began work on some brand new art pieces for Van Marciano Art and have since launched a new range of canvas paintings featuring glow in the dark stars. Prior to this we did some major research into the decorative art market before deciding to go into full production and marketing. Initially we were pleased to find out just how unique our idea was, and so we went about marketing and promoting it in the right way. The bottom line in all of this is this; Research the market in your niche or industry before going out all guns blazing, simple. Here are 5 top tips to get you started on your way.

Step One – Organise, plot, place your ideas on paper

From your initial idea you need to star breaking down what it is that’s going on in your head. So write down everything on paper, write down your idea, the purpose of your idea and what you hope to achieve with your idea. Also ask yourself whether your idea already exists and if so, how much better can you make it than your rival’s version and what potential gaps exists in the market for your idea. Don’t leave it all in your head to blow around, as in most cases it will probably get lost somewhere in that mushy filing system of yours.

Step Two – Research the market

Ok, research and catalogue your research, this simply means research and record what you have researched. Use the search engines, use Google keyword tool. Look at what your closest rival’s are offering and see how you can improve on this. Search Wikipedia, make telephone or email enquiries etc. Look at your idea and find loop holes or gaps in your industry to see where your idea can fit in. Remember to catalogue everything that you do research wise.

Step Three – Testing 1, 2, 3…

This is the fun part as once you have analysed the market depending on the outcome of what’s possible and what isn’t, you can then begin creating a tester product to put out onto the market for testing, in fact create several prototypes. Also put together a small marketing plan, nothing extensive just enough for you to get some feedback. For example you might want to place a link in your Facebook, MySpace or Twitter profile page to your website’s product testing page. Share your idea(s) or prototype with your families and friends for an honest opinion. Ask them to share it with their families and friends etc. Launch a mini online survey, send a sample to all your business email contacts and attach a feedback form. Gather all the information you can and analyse and adjust where need be. Feedbacks are your ultimate ally in this instance and so make sure that you request and receive the most honest opinions that you can.

Step Four – Marketing & promoting…

Once you have decided and finalised on your new product you can now begin two things. The first of course is placing together the full version of what you’ve been working on, and secondly planning a full product marketing strategy. In your marketing strategy you need to think about website promotions, advertising, social media marketing, email marketing, reviews and recommendations, offline advertising and marketing etc. Advertising your new product is an exciting venture, as in this process alone you can capture the minds of your audience, draw interest and make them anticipate the launch of your new product. Depending on the type of product you’re launching whether it’s in a form of electronic goods or physical goods, you need to have your stocks ready for the big day.

Step 5 – Product Launching…

The day has come for you to unleash your greatest work yet. The most eagerly anticipated launch since the iPhone first made history. Perhaps not but you still need to think big, it’s your business at the end of the day and no one else’s. Before your launch date arrives there is still plenty of planning to be done. You need to think about creating a unique page on your website where your product can be purchased from. If you’re distributing your product anywhere else on the web then preparation for this also needs to be done. If you’re accepting PayPal payments for your new product then that’s another great start. Problems are going to occur in any instances and so you need to have some form of backup plan, terms of service, FAQ’s for assisting those who makes the purchase of your product.

So there you have it a full run down on creating a successful product launch, enjoy.


About Fabrizio Van Marciano

Fabrizio Van Marciano is a successful artist and blogger working from his home in North Cornwall, UK. His insight into online business marketing, web design and self-promotion has lead him to become one of the UK's biggest selling modern contemporary artists with over 3,000 original canvas paintings sold worldwide. Fabrizio now shares his tips, advice and tutorials on all aspects of internet business marketing, blogging tips, WordPress, internet tech reviews and much more. You can follow Fabrizio on Twitter & Facebook.

Comments

  1. There’s a lot more to learn about this subject.Thanks for posting.

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