8 Steps to Launching Your New Product or Business - HenkinSchultz Skip to main content

8 Steps to Launching Your New Product or Business

Ideas are the catalyst for all great products and businesses. But having something great to offer is only the beginning, and doesn’t ensure your success. You have to build a brand and communicate your message to the right people at the right time. With any luck, the stars are also correctly aligned and 5, 4, 3, 2, 1 – you have a successful launch. Creating the right conditions for a successful launch should begin long before you introduce your product or service to the marketplace. Let’s assume you’ve done your homework and you know that there is a definite need that will be met by your product or service and that you’ve accurately assessed the target market to determine a price that will be acceptable to your prospects. Don’t let your innovative idea fall flat, like a tree that falls in the forest with no one around to hear it. You need to be heard. You need to plan your marketing strategy for a successful launch. 1. Create a Strategic Launch Timeline – Determine your target launch date and start preparing early. Identify specific milestones and when they must be met. Communicate this timeline to everyone invested in the outcome of the launch. 2. Define Product/Company – Who are you? What makes your product unique? What will make people want to buy it? Once you can succinctly answer this question, you’re on your way to success. Knowing who you are is the first step to creating your business identity. 3. Create Identity Package – Once you’ve defined yourself and your product or service, you need a logo that reflects your personality. You should also write a tag line or a positioning statement that more clearly illustrates the personality of your product or service. This is also a good time to put together your press kit. Once created, you will use your logo and tagline on all your advertising, marketing and business correspondence to build your brand identity. 4. Create Appropriate Packaging/Image – If you have a new product, it’s important that the packaging accurately reflects the personality of your brand. The same is true for a new service offering. Packaging includes not only the actual container that will hold your product, but all collateral and sales materials from brochures to product informational pieces about your product or service. Be sure your message can be “heard” and that it’s consistent – on everything you print. 5. Prepare Media Strategy – Determine the best media to reach your target audience and research pricing and placement. This may include print, radio, television, direct mail, digital and alternative media. There may be some nontraditional medium that really speaks to your specific market such as advertising on window clings, pizza boxes or flash drives. Then make a strategic buy that will give you the most coverage for the best price. 6. Prepare Ad/Marketing Campaign – You know your product and your message. Now put together a great campaign to launch your new product. 7. Intrigue the Press – With all the preparations finished, it’s time to call in the press. Send them an invitation to a press conference that will pique their interest. Once you have their undivided attention, hold your press conference and give them a reason to share your story. Make it remarkable. Make it something they want to tell their best friend about. Make it something they want to sell for you. 8. Let’s Do Launch – The press conference is the beginning of your launch. For smaller announcements no press conference is necessary, just blanket your connections and the internet with your message and your offer with compelling press releases that make the media want to cover your good news. Recently we helped GreatLIFE Malaska Golf and Fitness launch their new concept for unlimited golf and fitness throughout the region. To ensure success, we made sure to cover all the media and make the message intriguing enough to get attention. In the end, a tree fell in the forest, and everyone heard it. That’s the secret to a successful launch.