Five steps to guarantee a successful product launch

by Lou Hampton

In today’s volatile business environment, product managers in every industry are under intense pressure to successfully launch new products. As a result, they invest hundreds of thousands and often millions of dollars into product design, development, and marketing. Even with these efforts, 45 percent of all product launches fail, according to Software Marketing Journal.

Were all these new failed products bad? Probably not.

Yet, because product life cycles are shorter today than ever before and customers are becoming increasingly more selective, product managers are having a difficult time meeting their company’s expectations. It just proves that success in today’s marketplace requires more than just a good product. In order to bring any product to market successfully, product managers need to consider five key steps that can make the difference between a product that takes off and one that flops.

Put the customer first
Very often product developers create a new product based on the company’s current interests. They neglect to research whether the product is something their customers actually need or even want. While the new product may indeed be very innovative and timely, if customers don’t have a desire for it, it’s useless.

Prior to any new product development, it’s essential to analyze the market’s need for the idea. Conduct focus groups, take surveys, review customer comment cards…do whatever is necessary to learn what your customers really want in terms of new products. 

While this may seem like common sense, it’s amazing how many companies neglect this detail. Instead of listening to what customers want, product managers too often listen to their designers and programmers for the newest ideas. To give your product launch the best chance for success, put your customers’ needs first.

Promote the product’s benefits
An old business adage says, “Features tell; benefits sell.” This is especially true when it comes to new product launches. Very often product managers focus their marketing message around all the bells and whistles the new product offers. However, unless they explain to their customers the benefits those features deliver, customers will have little interest for the product.

Benefits hit customers at an emotional level—the level at which they buy. For example, suppose you’re bringing a new software product to market. One of the features the program offers is “one click reporting options.” 

While this sounds like a very advantageous selling point to your company’s developers, it means little to customers unless they know how this feature will help them. 

Will it enable customers to save time creating reports? Ensure for report accuracy? Reduce the learning curve for creating reports? The key is to analyze how each feature will impact your customer’s life, and then stress those points the hardest.

Tie the message to results
No matter what your background, whether it’s marketing, finance, or operations, when it comes to creating a message for a product launch you must shift your mindset so that the product message you create is tied to one specific result you want to achieve.

Unfortunately, many product managers allow a public relations or advertising agency to oversee the message creation process. While these companies are adept at creating flashy and sensational campaigns that dazzle the senses, they often have little knowledge of the specific results you want to attain; therefore, the message misses the mark. When this happens, your launch is destined to flop.

Before you or an outside agency create any product messages, determine the precise results you want to achieve. Do you simply want a one-time sale? Do you want customers to request an info pack? Do you want existing customers to upgrade to a new product? Once you determine the result, then you can evaluate the message to be sure that it’s the most effective to get the job done.

Take control of the message
Once they create the precise product message, many product managers must send it throughout the company for various approvals. This is often when the message falls apart.

Because the higher-ups are not aware of the specific results that need to be achieved, they tamper with the message to make it more sensational or image-oriented. While the new message may indeed be good, if it’s not tied to the initial results, then it simply won’t work.

Product managers must take steps to enlighten those in the approval process as to the results the company needs to achieve. When others in the organization know the benchmark for evaluating the message, they can give feedback that helps rather than hinders the message creation process.

Prepare your front line people
Finally, product managers must educate the sales force, customer service representatives and other front line people who will have direct contact with customers. These front line people need to be aware of the upcoming new product, its exact release date, the message customers will receive about it and how they anticipate customers will react.

Very often customers learn about an upcoming product and call the company for more information, only to discover that the salesperson has no idea about the new product offering. This not only causes embarrassment for your associates, but it also causes customers to doubt your company’s capabilities. 

When customers inquire about a new product you have advertised, they expect a knowledgeable company representative to assist them with the product details. If your company can’t deliver this initial and essential information, customers will have no interest in purchasing your product.

Launching a new product today is more difficult than ever before. However, successful results are attainable if you practice due diligence and focus your product launch efforts around one central result. 

By doing preliminary work such as assessing customer needs, analyzing product benefits, creating a product message based on results, and educating executives and front line people about the product launch’s objectives, you can have a successful product roll out that positions your company as the industry leader.

Lou Hampton helps Fortune 500 companies and the high tech industry deliver high-impact messages in high-profile situations.  He also advises politicians and celebrities.  Lou is the president of The Hampton Group, Inc. in Washington, D.C. For more information, please visit his web site at:  www.HamptonGroup.com. 

Back to top

Back to Web-exclusive articles archives