Winning Recipes for a Successful Product Launch

Today, a company must constantly renew its offerings to meet the changing and evolving needs of its customers. As a result, it is essential to regularly introduce new products.

Every company must pay special attention to the launch of a new product or service. It is a decisive phase for its success. Indeed, it is the first stage in the life cycle of a product or service on the market. When carried out well, this marketing operation ensures good product commercialization and ultimately increases sales by expanding its customer base. A good product launch ensures that potential customers discover the product, understand its benefits, and feel motivated to purchase it from the moment it’s released.

A successful product launch involves adopting a multi-step strategy and a long-term vision. Therefore, what are the essentials of a successful product launch? Trustt tells you more about the actions to take.

How to Make a Successful Product Launch?

To “optimize the success of your product launch, your brand must follow several steps and ask the right questions to define and implement its action plan. A well-thought-out and coherent strategy allows you to” make the best use of the marketing levers and communication plan that accompany your product during its launch.

Who is the Target Audience?

First and foremost, it is important to start a research phase where you ask yourself these different questions:

• Who is your target audience?
• What are their expectations and needs?
• Is there a real demand for your product or service?
• Are customers willing to pay for your product?
• Is the market you’re targeting large enough? Is it very competitive?
• How is your value proposition differentiating?

To find these answers, your brand can rely on market studies already conducted by marketing agencies, or establish a dialogue with your potential target audience. For example, if your brand already has a community on social networks, or an opt-in database, it will be easier for you to communicate with your target. This contact base represents a privileged point of contact with your potential clientele.

In this context, Trustt optimizes your product launch, allows you to grow your community and collect consumer insights in real-time, without resorting to costly and quickly outdated quantitative studies. The SaaS software made available to your brand helps you collect comprehensive and authentic reviews even before your product hits the market. Enhanced trust for a maximized launch!

What are the Purchase Motivations of Your Target?

To focus well on your target, you will need to define precise customer segments for your new product, by creating personas. For each persona, you must list the main purchase motivations and mechanisms that will trigger the acquisition of your product or service. These reasons to buy, whether rational or emotional, help you adapt your communication. A good message, sent to the right people at the right time, leads to maximizing your conversions.

What is Your Market Potential?

Conducting a qualitative and/or quantitative study is necessary to have a precise idea of the demand for your customer profile or to have an idea of their purchase intentions. Your brand can then refine its offer based on a better understanding of its customers, their tastes, and preferences. Indeed, it is important to ensure that you have your place in the market you plan to invest in, that it is not saturated by competition, and that you can stand out.

Ask yourself the following questions to know if your product has legitimacy in the market:

• What do you offer that’s different from the existing offer?
• Why should customers choose your product over another?

While most brands rely on market research, you can opt for a more cost-effective solution to gather information on how your target audience consumes. Today, you can obtain this information while delivering value to your community, involving them in product design, and strengthening their engagement.

Thanks to product tests coordinated by Trustt, your prospects discover your products (mature, launching, or even in the design phase), provide their opinions, expectations, and consumption habits while benefiting you with UGC on social networks.

What are your objectives and the means to achieve them?

Define Your Budget

Many product launch failures are linked to insufficient or poorly calibrated budgets. Unless you have unlimited advertising budgets, we strongly advise you to define a realistic budget that aligns with your objectives to maximize your chances of success.

Measure Your Objectives

It is important for your brand to set measurable objectives throughout the product launch process. To do this, establish precise performance indicators. The goal is to know if, at the end of your product launch, your objectives have been fully achieved or to what percentage. Base this on indicators you can analyze, such as the number of sales made, average basket size, sales index, number of visitors to your site, customer acquisition cost relative to your media plan…

What is Your Marketing Strategy?

To ensure the success of your product launch, your brand will need to implement a precise marketing strategy, established for the long term and coherent.

Choose an attractive name, design, and innovative packaging for your product that will allow customers to easily remember it.

Now build a story around your product. If your brand is able to create storytelling around your product launch, you will generate mystery and curiosity among your future customers. In your story, you can talk to your target customers about the problem your product solves and your company’s values.

Apple is a brand that excelled in storytelling in its early days, thanks to its impactful commercials. Today, the brand is so popular that each of its product launches attracts thousands of people from the first day of sale.

How to Plan the Launch?

It’s important for your brand to carefully consider its objectives. What would make your launch a success? How many sales are expected to make your marketing efforts profitable? How many contacts do you have in your database?

Choose the Right Moment

Timing is a decisive element in the success of your product launch. Launching a product too early or too late (in relation to trends, competitive offers, calendar highlights, current events…) can lead a very good product to commercial failure.

On the other hand, certain events such as trade shows, fairs, but also the release of movies or series can be real trend drivers. So be attentive to the news happening in your field of activity.

Take Care of Internal Communication

Communication with your teams is undoubtedly one of the keys to success for a good product launch: regular updates will create real enthusiasm and allow you to identify potential problems or difficulties before your product launch. These internal meetings allow your company to ensure, for example, that human resources are sufficient in relation to the sales forecasts your brand has planned. It is important that everyone is clear about their role in the product launch process and the deadlines set for each stage.

Note that good communication and organization within your company is the guarantee of a reliable and efficient service to offer the best purchase experience to your future customers during your product launch.

Moreover, the success of your launch also depends on your ability to analyze and your responsiveness. Monitoring these KPIs is very important, because if you realize that an advertising campaign is not effective, you will have time to change direction. This allows you to redirect your efforts and budget to other more effective levers.

How to Make Yourself Known Before Your Launch?

Test Your Products Before Launch

Product testing before launch allows you to gain insights and initial reactions to your product, as well as obtain improvement ideas that help design the perfect product.

By having your product tested before its release, you can also collect customer reviews that will reassure your future buyers and naturally guide them towards your product.

Trustt is a software that allows you to set up an ambassador program on your site. By engaging your community, you can both access proprietary data through application forms from testers and influencers for your products, and benefit from authentic and comprehensive reviews feeding the product pages of your e-commerce site.

Keep in mind that it is recommended to have your products tested throughout their lifetime to ensure long-term growth and success.

Offer an Exclusive Launch Offer

It can be interesting for your brand to offer gifts or promotions to the first users during your product launch. An early bird rate reserved for a limited number of customers thus promotes initial sales and will make them feel privileged. These exclusive launch offers allow you to add value for your prospects, draw attention to your launch, and expand the reach of your campaign.

Refine the Presentation of Your Product on Your Website

Developing a quality presence on your website – through highlighting your home page, an attractive product page rich in information, or usage tips – will be greatly appreciated by your customers.
The web is full of possibilities for communication! Rather than writing long articles to explain the benefits of your product, prioritize photo and video formats! They are attractive and entertaining for users, thus allowing better retention of the conveyed message. Moreover, the video format is particularly suited for a launch as it offers you the opportunity to develop your storytelling or unveil a demonstration. You can also showcase these two formats via other channels such as your social networks.

Take Advantage of Social Networks

Social networks are now at the heart of any web communication strategy: they notably allow you to build suspense if you don’t reveal your entire new concept. This is what we call teasing marketing. You can also obtain engagement on your posts and reach a significant audience.

Social media also allows your brand to run targeted advertising campaigns at controlled costs. Consider which social platform is most consistent with your target audience to ensure your message has the greatest impact possible. However, keep in mind that on these social networks, your message must be concise and entertaining. Internet users on social media are looking for content that generates emotions in just a few seconds.

Collaborate with Influencers to Generate UGC

In addition to customer reviews that enhance your product pages, you have the opportunity to benefit from UGC and social media impact. This content generated by and for your audience develops your online awareness and word-of-mouth, increasing sales during your product launch.

Trustt allows you to have your products tested by influencers who share your values and are passionate about your field of activity. These opinion leaders can therefore play a crucial role in the success of your launch plan by creating excitement around your product on social networks.

Develop Your Presence in the Media

To best prepare for your product launch, it is essential for your brand to work on your public relations to publicize your event. Identify relevant media outlets and contact them by sending a press release, possibly accompanied by your product. Ensure that your press release is pleasant to read and makes people want to know more about your brand and product.

Your content should appeal to both your prospects and editorial teams. The latter may indeed want to follow the evolution of your brand and accompany you through all stages of your company’s growth.