Executing a successful ecommerce product launch makes months of product research and planning (a.k.a blood, sweat, and tears) seem like the best feeling in the world.
However, this doesn’t mean that creating a product launch strategy is as simple as conducting a meeting with your team.
No matter how great you believe your product is, it takes a massive amount of effort to position it in front of the right people. If you're planning an upcoming launch, the good news is that you don't have to rush in unprepared.
In this product launch checklist, we'll explain everything you need to know to get started with preparation.
What is a product launch?
A product launch is an event used to introduce new products or services to the market. A successful product launch requires thorough planning and preparation, often months in advance.
The primary goal of a product launch is to generate hype among potential customers and get them excited about the new offering. Doing this successfully can lead to increased sales volume and brand recognition, which are ideal for businesses.
A well-designed product launch strategy should include components such as research, messaging and positioning, marketing campaigns, social media influencers, content creation, and press release distribution.
Why are product launches important?
Product launches are important for businesses because they can create a significant impact on their financial success. A successful product launch campaign can generate buzz, excitement, and demand around the company’s new offering.
A product launch can also:
Diversify your product portfolio
Introducing new products or services can help diversify your product portfolio and give customers more options to choose from.
For example, if you have a successful clothing line, launching a new accessories collection can attract more customers and help you reach a wider audience.
Introduce your brand to a new audience
A product launch is a key ingredient in reaching a new audience, especially if you want to break new ground. It provides an opportunity to introduce your brand and products to potential customers outside of your current market.
This also gives you a chance to increase brand recognition, get feedback from new customers, and build relationships with them.
Provide a jolt to sales and conversions
A successful product launch not only increases brand recognition, but can have a significant impact on your company's profits. Successful companies use brand notoriety from product launches to generate profits all the time.
For example, Apple famously launched a Super Bowl commercial in 1984 that generated a massive amount of hype and demand for the company's products.
This led to the sale of 72,000 computers in less than 100 days, paving the way for Apple to become one of the most successful tech companies in the world.
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Potential pitfalls of new product launches
Not all product launches hit their intended targets. Below are some of the worst-case scenarios that can occur when planning an upcoming product launch.
Offering a new product your audience doesn't want
A successful product launch requires thorough research and testing so you can uncover what your audience wants and needs. If you don't take the time to facilitate product research, chances are that you'll end up offering a product people aren’t interested in and your launch will fail.
Oversaturating your brand and products
It's easy to get caught up in the excitement of a product launch and over-promote your brand. However, this can be damaging to your company’s reputation if you don't provide relevant content that people care about.
When launching a new product or service, it’s important to stay focused on the key messages that are most important for customers. This way, you won't bombard them with too much information and overwhelm them with unnecessary details.
Poor product launch timing
Timing can make or break a product launch. If you don't plan your launch well, you may end up launching your product at the wrong time and miss out on potential sales or customers.
For example, if you plan to launch during the holiday season when people are already buying gifts, chances are you’ll be lost among all the other offers in the market.
It's also important to consider any external factors that might impact your launch timing, such as an economic downturn or global health pandemic.
Ecommerce product launch tips
Learning how to launch a product doesn't have to be difficult. Here are some tips to make sure your upcoming product launch marketing plan is a success.
Research your audience and the potential product
Market research is the crux of any product launch strategy. With that said, take the time to research your target audience and find out what they are looking for in a product.
This will help you determine how to position your new offering, as well as any unique ecommerce features or benefits it may have that make it stand out from other products on the market.
Time your product launch strategically
When scheduling your product launch, it’s important to consider external factors that can impact the success of your launch.
Timing is key when it comes to any marketing strategy and a successful product launch requires careful consideration of when your new offering will be released.
Make sure you plan ahead and account for any unforeseen circumstances that may arise in order to ensure the best possible timing for launching your product.
Study your competition
Researching the competition is essential in order to understand how your new product or service fits into the market.
This will help you identify what makes your offering unique and how it can stand out from other products on the market. Studying the competition also helps you determine optimal price points, marketing tactics, and other key factors to consider when launching a new product.
Craft a promotional plan
A successful product launch requires careful planning and creating a digital content strategy.
Creating an effective promotional plan involves outlining the channels you will use to promote your new offering, writing product descriptions around the product, and determining strategies for measuring success.
If you’d like to create your own promotional plan, check out our ecommerce SEO guide for actionable tips you can use.
Build up anticipation
Creating anticipation for your new product or service is key in driving interest and engagement prior to launch. You can do this by engaging with followers on social media, running teaser campaigns, or creating exclusive previews of the product prior to release.
Building up excitement around a new offering helps drive interest and leads to higher conversion rates when the time comes to actually launch the product.
Promote before, during, and after product launch
Promoting your product or service doesn’t end with the launch. Make sure to continue promoting your offering after the launch, as well as during and before.
This will help you maintain traction and engagement, while also creating a buzz that helps drive more sales and customer loyalty for your business.
Track performance and audience feedback
No product launch would be complete without tracking the performance of your offering and gathering feedback from your target audience.
By tracking performance, you can determine how well your launch went, while also identifying any areas that need improvement.
Gathering customer feedback will help you better understand what customers are looking for in a product or service and optimize their online store user experience.
Utilize influencers
Influencers can be a powerful tool in helping to promote your product or service. When selecting influencers, make sure to choose those who have an audience that best aligns with your target market.
Utilizing influencer marketing can help you reach larger audiences and drive interest in your new offering while also increasing brand visibility.
Leverage stunning, engaging visuals
Creating eye-catching visuals can help drive attention to your product launch and give customers a sense of what they can expect.
Whether it’s using stunning photography, creating compelling videos, or creating well-designed graphics, incorporating visually engaging elements into your product launch will help capture the attention of potential customers.
Prepare your internal team for the launch
Make sure to prepare your internal team for the launch of a new product or service. Your team should have all the answers they need in order to effectively promote and educate customers about your offering, so make sure you go over any collateral that is needed prior to launching.
Additionally, be sure to provide training on how to handle customer inquiries and other tasks related to the product launch. For example, can your team fulfill orders fast enough to meet demand? Are they able to answer any customer questions related to the product?
Having a well-prepared and knowledgeable team is key to ensuring that your product launch plan goes smoothly.
Test anything you can
Finally, make sure to test anything you can in order to ensure that your product launch is successful. This could include testing pricing points, promotional tactics, and other key factors prior to launching.
By testing these elements beforehand, you’ll be able to make any necessary changes in order to market a product successfully.
Ecommerce product launch plan summary
Product launches are key for driving sales and engaging with customers. By following these steps, you’ll be able to effectively promote your new product and ensure a successful launch.
If you want to change your ecommerce store platform before your product launches, you should consider using Nexcess. Nexcess provides reliable, secure managed hosting for ecommerce websites, so you can focus on making your product launch as successful as possible.
Check out our fully managed WooCommerce hosting plans to get started today.
