Every year 95% of new products fail just because of lack of preparation. Companies are so focused on designing and manufacturing new products that they postpone the hard work of getting ready to market them until too late. With so much to do in the preparation phase, every starter needs a launch plan to make sure nothing falls through the cracks.
Here are seven critical questions that must be answered as you plan for your big day:
1) Is Your Customer Right? Know your target audience. Make a survey and get you to know what you don’t know. Cause what you don’t know can ruin your launch.
2) Is the Timing Right? The moment you launch will often determine the momentum of your launch. A good product launched at a bad time usually fails. Make sure that you’re not missing an opportunity because you haven’t consulted a calendar.
3) Is Your Timeline Right? Make sure you’ve enough time to execute each step in your launch plan before the day arrives. But start planting seeds of publicity on social media, your blog, and through advertising; but be sure to do it no more than ninety days out.
4) Is Your Team Right? Do you have your marketing materials in order? Has the packaging been tested? Is your back-end system functioning properly? Have you developed a plan for gathering matrices and feedback? If you answered no to any of those questions, you may need to return to question 3.
5) Is Your Product Right? When you get your product right, you must also make sure you get your price point right.
6) Is Your Goal Right? A plan without a goal is just a wish. If you’re setting an aggressive goal for your launch, make sure you have an equally aggressive strategy.
7) Is Your Publicity Right? Contact online influencers and if you’re buying advertising, consider the best places to invest money.
Once you’re done give yourselves a pat on the back for all the hard work you’ve put in. It is okay to take a moment to appreciate yourself.