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New Product Release
You’ve worked hard to develop your brand and hone your business to a razor sharp edge. All your ducks are in a row as you create a strong public presence for your company and work to build brand awareness. But the true crux of your business, the primary focus of your marketing strategy is your product – and a new product release is the one tool you cannot do without.
Whether you are introducing an entirely new product or launching an updated, improved version of a current product, you need to make your customers, current and prospective, aware of it. In a nutshell, a new product release is just that, a way to publicly announce a new product or improved product. It creates a lot of buzz and excitement for your product and (hopefully) prompts people to buy it.
Developing a new product launch strategy is no easy feat. It takes planning and coordination over several different marketing channels such as print, social media, press releases, blog posts, and video. The exact channels you use depend on your customer demographic and how your brand interacts with consumers.
The marketing strategies that Apple uses to hype each new iPhone is one of the best successful product launch examples today. They build excitement and create within consumers a need to possess their product. It goes far beyond just wanting it – they have been conditioned to believe that if they do not own an iPhone they will miss out or their life will somehow be something less because of it.
Their product launch marketing strategy is so successful they have individuals scrambling to get the product, many camping out at stores overnight to ensure they do not miss that opportunity – every single time.
And that sells a lot of phones.
Creating your own digital marketing strategy for your product launch requires thoughtful planning and careful, deliberate steps. You can’t just throw it together and expect it to work well. Start early, plan well, execute with intent, and constantly monitor. This is the difference between success and failure.
New Products 2019
There were some outstanding new product launches in 2019. There’s a lot that can be learned from these new product releases of 2019.
Disney is one of the standout successful launches with its channel that made its way into consumers’ homes in late 2019. They paid attention to their customers, listened to what they wanted and over-delivered with classic shows that were customer favorites and long anticipated new shows that got people excited. Even with the hiccups that occurred, this was by far one of the most successful new product launches of the year.
Then there was the chicken sandwich heard around the world. Popeye’s was so successful with its launch that in less than two weeks the sandwich sold completely out. Its success exceeded even the brand’s expectations. How did they do it? They saw an opening in the market that was underrepresented. At the time, their biggest competitor in that area was Chik-Fil-A so they positioned themselves to dominate. And they walked away not only victorious but respected. In fact, then Wendy’s launched their own chicken sandwich, who did they go after? Popeye’s. The Wendy’s vs Popeye’s Twitter war is one for the ages. Of all the new products in development in 2019, this one was a real surprise.
Since 2007, Apple has introduced a new version of the iPhone. Every single year. How do they do it? With clever marketing that employs splashy images plastered everywhere, epic videos that take viewers on an adventure, but most of all, they create a culture that people just want to be a part of. And that is why the hit it big each year with each launch. So, 2019 was no different. The iPhone 11 emerged amid the typical, frenzied Apple hype – hype that works. Think about it. Apple had one of the top new products on the market in 2018, and they had one of the top new products on the market in 2019. Want to hazard a guess what’s going to happen in 2020?
These are the big names that we all know, yes, but there were plenty of recent product launches that, while extremely successful, did not carry the huge names or sweeping fanfare. In fact, some of the best product launches came from smaller companies that may not even register on your radar. Successful product launches in 2018 and 2019 showed a trend that is developing, that the tide is changing and what once worked isn’t as effective now.
These new products launched in 2018 and 2019 utilized video marketing, especially on social media. Research shows that 79% of consumers would rather watch a video about a product than read about it and 84% of consumers have made a purchase after viewing a video. That’s some pretty powerful proof that video works. Other brands used free trials, waiting lists to build demand, customer referral incentives, and influencer partnerships. You can too.
New Product Launch Checklist
To be honest, product launch checklist examples are a dime a dozen.
Your go to market checklist should be tailored specifically to your company, your product. This means that you can use the best parts of the strategies used by other companies to create your own.
When you are looking for a new product launch ppt free download or a new product launch marketing plan ppt, look at some of the big names in marketing. HubSpot is a good start, but the Small Business Administration (SBA), Medium and Moz also have some great information. You can also check with your local Chamber of Commerce. With a little digging, you can find what you need, no problem.
A quick internet search can yield good results, but be mindful of the source of your information. You may get some good returns on your search term, but information on a low quality site could be outdated or just plain wrong. Stick with high quality sites and adjust your search tools to give you only recent posts and articles.
Search terms are how you will ensure you get exactly what you are looking for. The wrong search term can send you down a rabbit hole in an endless loop of misinformation. Mega search engine Google is constantly updating its algorithms to provide better and better search experiences. You will reap the benefits of this intuitive search tool by being as descriptive as possible. Some search terms you might use when looking for a new product launch checklist include:
- B2B product launch checklist
- New product launch presentation
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As you can see, these key phrases are descriptive and precise. You can also frame your search terms as questions, such as “How do I create a new product launch checklist?” or “How do I use a product development checklist template?” The best way to find what you are looking for is to tell the search engine exactly what you need. You can use “stop words” (a, and, the, etc.) or you can leave them out of your search phrase.
If you want to search a specific website for those search phrases, type site: in the search bar, then type the name of the site: site:mydomain.com new product launch checklist.
If you are looking for a specific term, you can put the search term in quotes. This is called a Boolean search. You will only get returns that match that term exactly: “new product launch checklist”
Understanding how to search for what you need and knowing where to find the best high quality, current information will ensure that you get exactly what you need and what you can use to build your business.
New product launch marketing plan example
Marketing plays a huge role in a new product launch and knowing how to launch a product successfully is a true art. Whether you have a small marketing team, a large one, or you’re a one man show, there are certain things that you must consider as you roll out your new product.
- Time. A product launch should start before the release actually occurs. Start early, well ahead of the launch date and build excitement and anticipation.
- Timing. When you launch your product can be extremely relevant. For instance, you probably wouldn’t want to launch a new line of snow shovels during the blistering hot days of summer. Waiting until the temps begin to cool and consumer minds turn to cold weather activities may be a better option.
- Customer. Who is your customer? What do they want? What are the things that keep them up at night? Know this information about your target market and structure your product launch to speak directly to those needs and wants.
- Platform. If you look at some of the best new product launch campaigns, you will see that they go to where their customers are. Different social media platforms tend to attract different types of individuals. Savvy marketers understand this and will tailor their campaigns to speak to those individuals as the platform dictates.
- Media. Content will always be king, but people are visual beings. Using video and photography in clever ways will draw more attention to your campaign and encourage more engagement. Look at how other companies rolled out their new products to get some creative product launch event ideas then make it your own.
- Digital. There is a whole digital world out there where most people spend the majority of their time. Face it, we live in a digital world with smartphones, smart watches, tablets, laptops, and the list goes on. Knowing how to launch a product online takes research and work. You can’t just stick up a couple of posts on Facebook and call it good. You have to understand how digital marketing works and find the best ways to make it work for you.
- Monitoring, Analysis, and Adjusting. No campaign is perfect right out of the gate. A good marketing team will create campaigns that are living and flexible, always changing, growing. Your product launch strategy framework needs to be solid, but flexible. As your monitoring shows what is working and what isn’t you need to be able to make adjustments to make it more effective.
When done right, a new product launch can boost sales and increase brand awareness. If you are having trouble getting started and need a little inspiration, look at the product launch campaign examples of other companies and see what they got right. You can also see what didn’t work so well and then avoid their mistakes.
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