The 3 Step Product Launch Strategy

Understanding Product Launch Process

A launch refers to the process of taking a product from its FINISHED FORMAT stage to the CONSUMER FEEL STAGE.?

There are two stages involved:?

1. The creation of the product and?
2. Its distribution to the consumer.?

Product launch is a purely SALES EVENT, which needs to be done professionally.

Pre-Launch Marketing and Product Hype

The hype created around the product, even before its release, can lead to significant sales on the day of launch, despite the product's features not being significantly different from its predecessors.?

Launch Strategy: Pre-Planning, Planning, Execution

The three steps involved in a launch strategy:

→Pre-planning,?

→Planning, and?

→Execution.?

A launch is a sales activity and an event, requiring planning and execution.?

The importance of two key aspects in the pre-planning stage:?

?Building an audience and?

?Product validation.?

Building Audience and Product Validation

Having a large network doesn't guarantee an engaged audience.

Building an audience involves two approaches:?

one-to-many and?

one-to-one.?

The one-to-many approach includes posts, stories, videos, reels, doing LIVE session, ads etc,

while the one-to-one approach involves direct conversations in chats/DM’s/calls.?

Product validation:

It’s important to have hands-on experience of the effect of the product’s outcome. Suggested methods for Product Validations are:

Offering the product for free to limited people or?

At a discounted price to gather feedback.?

This feedback can then be used to create testimonials and improve the product before launch.

Product Launch Stages and Planning

Pre-planning - It includes product validation and audience building

Planning - It should involve deciding on a date and time, creating an itinerary, and finalizing the product title

Execution - It is identified as the time for the actual launch, which could include online events, webinars, workshops, challenges etc.

A detailed sheet for each stage and a minimum 15 to 30 days timeframe for creating hype and pre-launch activities should be deployed.

Product Launch Planning and Awareness

It is of utmost importance to create awareness and excitement for a product launch. (Ex: the book launched by Alex Hormozi that generated over $500 million.)

A successful launch needs a decent time frame to do the marketing in totality.?

As stated by Dan Kennedy - “The only difference between a successful and a failed launch is the time frame.”

There’s a great need for continuous marketing efforts and planning stages before the actual launch.

Launching Events and Audience Building

There has to be a detailed multi-step process involving different content strategies like announcement posts, emotional posts, pain posts, and self-result posts, followed by a launch date.?

The use of various social media platforms for audience engagement is also a factor which needs to be considered rather than focusing on just one.?

Expanding Product Promotion Strategies

There could be multiple promotional activities, but recommended is - focusing on organic advertisement (for beginners), reaching out to people, and creating content.?

The promotion should not be limiting the target audience to just one group, such as married women or mothers, but rather expanding to include a wider range of people. Using multiple platforms like Facebook, IG, Twitter, Tiktok and YouTube for promotion, with a focus on short videos, would be highly recommended.

Use of scheduler tools can help this execution better.

Product Launch Strategy and Validation

A product launch strategy is a combined effort of focusing on product validation, pre-launch planning, and launch execution.?

For a launch to be successful, the importance of confidence in the product's quality and the need for patience in the business process, is required.

PS: How soon can you launch a new product now? Mention here.

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?? I am Alok, A high-value client acquisition coach.

??Helping coaches & freelancers to get qualified leads & high-ticket clients.

??Providing one-on-one Personal Business mentoring for lead generation, product validation, Offer creation and sales.

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