The key to the success of a new product consists of several puzzle pieces customized according to your goals, brand DNA, product message, and clients’ needs.
Every product has potential with the right product launch strategy within its niche. At the same time, 95% of newbies on the market don’t pass the one-year mark. We will help you take your idea from “Well, I have a great product idea, now what?” to a successful product launch and beyond.
Product Launch Roadmap
The stages of launching a new product can vary according to what needs you are trying to fill in the market. We will help you tailor the launch readiness checklist, map out the brand launch strategy, select the best way to market your product based on its target audience, and make sure the launch is a success with a custom pre-launch sales strategy.
1. Define your target audience
The strategy for a successful product launch will depend on your end-user. You are never going to be the only business offering solutions to your target audience. However, a deep understanding of your ideal customer will help you deliver the best answer to his problem.
At Moqod, we want you to bring the most efficient solution to your user. We work with user stories — the best tool for customizing the product for the customer. Without an end-user, you will be stuck at the product validation phase and end up launching a solution for everybody and nobody at the same time. One of the crucial points on the launch plan checklist is product validation, where the target audience will define the potential of your solution.
2. Validate your product idea
One of the crucial points on the launch plan checklist is product validation, where the target audience will define the potential of your solution. During this process at Moqod, we dive into ways to validate a product.
No two launches are the same, and we stand by our custom approach to every launch with tailored idea validation. We will select the best way to proceed based on the solution.
- Customer interviews or a product validation survey. An elaborate list of product validation questions delivered to the right audience can give a lot of answers.
- Landing page. It is a beta test of the future product with its main ideas. To get data to validate the product, you can either drive organic traffic to the landing page or launch paid new product advertisement. We will help you figure out the best way to proceed according to your time and budget frames.
- Prototype. Clickable rapid prototype in the hands of your end-user is one of the best ways to get feedback and data from users and stakeholders. If the prototype is good enough, it can serve as an MVP later.
An MVP can also be the way to validate your product among a real audience. It is a more expensive launch strategy example since you are directly testing the product on the market. However, you can cut some costs by working on it yourself — we have a list of the best tools for building an MVP on your own. We also stand by the idea that you can make the first steps as a startup without a CTO.
Idea validation takes place before the marketing plan— you define the interest for your product within the market.
3. Marketing Strategy and Techniques
This part of the product launch plan checklist will make sure the right audience sees your product. With the proper product marketing techniques, even bringing a product to market from your home can be possible. Your digital product marketing strategy will depend on your target user and will include the following parts:
- Competitor analysis. When you figure out how to introduce a new product to the market, we will see together what the market already has to offer.
One of the product launch best practices is to see what the competition doesn’t offer and establish how you can bridge this gap between the user’s problem and solving the problem.
- Promotion planning and channels. This part is about how to tease a new product and then sell it so that your customers get their hands on it. We decide where you advertise, how you do it, as well as organic and paid traffic sources.
- Unique Selling Proposition. Your USP will deliver the promise to your client and explain why your product beats the alternatives.
- Clear, quantifiable goals. What is it exactly that you are trying to achieve via the marketing strategy? Based on your product DNA, it can be leads, conversions, increase in revenue, visibility, market share, subscribers, brand recognition — the list goes on. We will help you set precise and quantifiable goals, allowing you to see and measure whether the IT product marketing strategy is working.
4. Establish and assess the financial part
A startup company usually needs to raise funds for the product launch. The cost of developing an app can quickly go up to a six-digit figure. Having a compelling message for the investors and knowing how to sell a product idea is a deal-breaker.
We can help you map out the product launch strategy examples for different scenarios when you present the idea to the investors. We invite you to take a look at the article on how to decide whether you and the future investor are a good match, as well as which questions to ask to ensure a profitable long-term relationship.
At Moqod, we are firm believers in the product approach when it comes to application development. Therefore, when we look at how to develop a product idea, we look at all the parts of the process as a whole: software, marketing research, and marketing strategies, user personas, user stories, business models, expansion potential, and future growth.
We have proven our expertise in the Holland startup scene, and we will be thrilled to help you establish how to launch your brand with an efficient product launch strategy.